Financial Analysis

NOTE 21 COMMITMENTS AND CONTINGENCIES Regulatory Non-Compliance On April 17, 2025, the Company received a written notice (the Notice) from Nasdaq Stock Market, LLC (Nasdaq), notifying that the Company failed to comply with Nasdaq Listing Rule 5250(c)(1) as the Company failed to timely file its Annual Report on Form 10-K for the year ended December 31, 2024. The Notice had no immediate effect but, before June 16, 2025, the Company was required to submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Companys plan, Nasdaq will grant the Company up to 180 calendar days from the filing due date to regain compliance. Otherwise, after the date, subject to other requirements and conditions, the Company may proceed to delisting procedures. On August 19, 2025, Nasdaq accepted the Companys plan to regain the compliance by October 13, 2025. On May 20, 2025, the Company received a written notice (the Notice) from Nasdaq, notifying that the Company failed to comply with Nasdaq Listing Rule 5250(c)(1) as the Company failed to timely file its quarterly report on Form 10-Q for the period ended June 30, 2025. The Notice had no immediate effect but, before June 16, 2025, the Company was required to submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Companys plan, Nasdaq will grant the Company up to 180 calendar days from the filing due date to regain compliance. Otherwise, after the date, subject to other …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 12 CONVERTIBLE DEBTS (i) TFI Note In connection with the Merger Transaction, the Company assumed the liabilities of Triller Corp, which includes convertible notes issued to Total Formation Inc. (TFI), stockholder of the Company, with a total principal balance of approximately $35.3 million and fair value of approximately $46.3 million (the TFI Note) as of the Acquisition Date. The TFI Note bears 15% annual interest and payable on demand by TFI at any time on or after August 1, 2024. The Company may prepay any amount owed under the note in whole or in part at any time without penalty or premium, plus unpaid accrued interest as of the date of such repayment. In the event that the Company fails to pay any amount due under this note when due or if the Company commences any case, proceeding, or other action relating to bankruptcy, insolvency, or reorganization, these events will constitute an event of default. An event of default will result in TFI having the option, by written notice to the Company, to declare the entire principal amount, together with all accrued but unpaid interest, payable immediately. If any amount payable under this TFI Note is not paid when due, such overdue amount shall bear interest at the default rate of 16% from the date of such non-payment until such amount is paid in full. As of December 31, 2025 and 2024, the TFI Note was reported at a fair value of approximately $52.7 million and $46.3 million, respectively, which is included in convertible deb …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The Company has disaggregated its revenue from contracts with customers into categories based on the nature of the revenue. The following table presents the revenue streams disaggregated by nature and geographic location: For the years ended December 31, 2025 2024 At a point in time Paid-per-view fees $ $ 3,278 Commissions 20,308 20,348 Total revenue from the transfer of goods and services at a point in time 20,308 23,626 Over time Advertising revenue 276 SaaS fees 707 Subscription fees 829 Recurring asset management service fees 1,280 1,887 Loan interest income 34 151 Total revenue from the transfer of goods and services over time 1,314 3,850 Total revenue $ 21,622 $ 27,476 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

NOTE 18 INCOME TAX EXPENSE The provision for income tax expense consisted of the following: For the years ended December 31, 2025 2024 U.S. $ $ Other than U.S. 109 Income tax expense $ 109 $ For the years ended December 31, 2025 2024 Current tax $ 109 $ Deferred tax Income tax expense $ 109 $ The Companys subsidiaries mainly operate in Hong Kong and the U.S. that are subject to taxes in the jurisdictions in which they operate, as follows: British Virgin Islands The Companys subsidiaries are incorporated in the British Virgin Islands and is not subject to taxation. In addition, upon payments of dividends by these entities to their shareholder, no British Virgin Islands withholding tax will be imposed. Hong Kong The Companys subsidiaries operating in Hong Kong are subject to the Hong Kong Profits Tax at the income tax rates ranging from 8.25% to 16.5% on the assessable income arising in Hong Kong during its tax year. For the years ended December 31, 2025 and 2024, the Hong Kong profits tax is calculated in accordance with the two-tiered profits tax rates regime. The applicable tax rate for the first HK$ 2 million of assessable profits is 8.25% and assessable profits above HK$ 2 million will continue to be subject to the rate of 16.5% for corporations in Hong Kong, effective from the year of assessment 2018/2019. United States of America Upon the domiciliation from the British Virgin Islands to the State of Delaware, the Company is subject to the federal income tax rate of 21%. …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 14 OPERATING LEASES For the year ended December 31, 2024, the Company entered into a commercial operating lease with an independent third party for the use of an office in Hong Kong. The lease has an original term exceeding 1 year, but not more than 3 years with an option to renew a further term of 3 years. For the year ended December 31, 2025, the Company entered into a new commercial operating lease with an independent third party for the use of an office in Hong Kong. The lease has a lease term of 4 years with an option to renew a further term of 3 years. The Company has evaluated the extension option and concluded that it is not reasonably certain that the option will be exercised. Accordingly, the extension period has not been included in the measurement of the lease liabilities. The assessment considered all relevant economic factors. The operating leases are included in Right-of-use asset, net on the consolidated balance sheets and represents the Companys right to use the underlying assets during the lease term. The Companys obligation to make lease payments are included in Operating lease liabilities on the consolidated balance sheets. Supplemental balance sheet information related to the operating leases was as follows: As of December 31, 2025 2024 Operating lease: Right-of-use assets $ 2,827 $ 12,626 Less: accumulated amortization (54 ) (10,962 ) Less: accumulated impairment losses (2,773 ) (1,664 ) Right-of-use assets, net $ $ Lease liabilities: Current lease …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (FASB) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. In November 2024, the FASB issued ASU 2024-03, Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and the amendments may be applied either prospectively or retrospectively. Management is currently evaluating this ASU to determine its impact on the Companys disclosures. In January 2025, the FASB issued ASU 2025-01 Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40). The FASB issued ASU 2024-03 on November 4, 2024. ASU 2024-03 states that the amendments are effective for public business entities f …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 19 RELATED PARTY BALANCES AND TRANSACTIONS The table below sets forth major related parties of the Company and their relationships with the Company. Name Relationship with the Company Mr. Tsai Ming Hsing, Richard (Mr. Tsai) Controlling stockholder of the Company Mr. Ng Wing Fai (Mr. Ng) Chief Executive Officer and Executive Director of the Company Ms. Wong Suet Fai Almond Chief Operating Officer of the Company JFA Capital Investment private funds controlled by Mr. Tsai NSD Capital Investment private funds controlled by Mr. Tsai TAG Holdings Limited Stockholder and immediate holding company of the Company TAG Financial Holdings Limited Company controlled by Mr. Tsai Convoy Financial Services Limited Company controlled by Mr. Tsai Convoy Global Holdings Limited Company controlled by Mr. Tsai Giant Wisdom Ventures Limited Company controlled by Mr. Tsai Green Nature Limited Company controlled by Mr. Tsai Total Formation Inc. Stockholder of the Company and company controlled by Mr. Tsai Atlas Merchant Capital LLC Company controlled by the former chairman of the Company DeSilva 2000 Living Trust Company controlled by director of subsidiaries of the Company HCMPS Healthcare Holdings Limited Company with common director Mr. Ng In support of the Companys efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its equity or traditional debt financing. Ther …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 4 SEGMENT INFORMATION By assessing the qualitative and quantitative criteria established by ASC Topic 280, Segment Reporting , management has determined that the Company has four reportable segments, which include the Companys social media, sports streaming, and financial services segments. The Companys reportable segments reflect how the Companys operations are managed, how the Companys Chief Executive Officer , who is the Chief Operating Decision Maker (CODM), allocates resources and evaluates performance, and how the Companys internal financial reporting is structured. For the year ended December 31, 2025, the Companys reportable segments comprised of the following: 1. Social media The Social Media segment consists of the Companys operations related to its social media platform and related services for content creation and distribution. 2. Sports streaming The online streaming segment consists of the Companys operations related to its online streaming services. 3. Financial services The Financial Services segment consists of revenues and costs incurred from the sale of investment products, offer asset management services and money lending services. The Company's reportable segments are strategic business units that offer different products and services. They are managed separately because each business unit requires different technology and marketing strategies. The following tables present the summary information by segment for the years ended December 31, 2025 and 2 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These accompanying consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying consolidated financial statements and notes. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP). Principles of Consolidation The accompanying consolidated financial statements include the financial statements of ILLR and its subsidiaries. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. The consolidated financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. All intercompany transactions and balances between ILLR and its subsidiaries are eliminated upon consolidation. Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts of revenues and expenses during the years presented. Significant accounting estimates reflected in the Companys consolidated financial statements include the …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 22 SUBSEQUENT EVENTS In accordance with ASC Topic 855, Subsequent Events , which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred after December 31, 2025, up to the date that the audited consolidated financial statements were available to be issued. In March 2026, the Company issued an aggregate of 200,000 shares of common stock to the employees of the Company under the 2024 Equity Incentive Plan. On March 24, 2026, pursuant to an appeal by the Company, the Listing Council modified a determination entered on December 26, 2025 by the Panel to delist the securities of the Company from Nasdaq and suspend trading of the Companys shares, effective at the opening of trading on December 30, 2025. Specifically, the Listing Council modified the decision of the Panel as follows: (1) If the Company fails to make its 2025 Form 10-K filing by March 31, 2026, or within the additional period of time allowed by SEC Rule 12b-25, then the Companys securities will be delisted immediately from Nasdaq. Such delisting would have the same effect as if the Listing Council had affirmed the Panel Delisting Decision. Therefore, such delisting would not be subject to further appeal to, or review by, the Listing Council. (2) If the Company files its 2025 Form 10-K filing by March 31, 2026, or within the additio …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

NOTE 17 COMMITMENTS AND CONTINGENCIES Regulatory Non-Compliance On April 17, 2025, the Company received a written notice (the Notice) from Nasdaq, notifying that the Company failed to comply with Nasdaq Listing Rule 5250(c)(1) as the Company failed to timely file its Annual Report on Form 10-K for the year ended December 31, 2024. The Notice had no immediate effect but, before June 16, 2025, the Company was required to submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Companys plan, Nasdaq will grant the Company up to 180 calendar days from the filing due date to regain compliance. Otherwise, after the date, subject to other requirements and conditions, the Company may proceed to delisting procedures. On August 19, 2025, Nasdaq accepted the Companys plan to regain the compliance by October 13, 2025. On May 20, 2025, the Company received a written notice (the Notice) from Nasdaq, notifying that the Company failed to comply with Nasdaq Listing Rule 5250(c)(1) as the Company failed to timely file its quarterly report on Form 10-Q for the period ended June 30, 2025. The Notice had no immediate effect but, before June 16, 2025, the Company was required to submit a plan to Nasdaq to regain compliance with the Nasdaq Listing Rule. If Nasdaq accepts the Companys plan, Nasdaq will grant the Company up to 180 calendar days from the filing due date to regain compliance. Otherwise, after the date, subject to other requirements and conditions …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 11 CONVERTIBLE DEBTS, NET (i) TFI Note In connection with the Merger Transaction, the Company assumed the liabilities of Triller Corp, which includes convertible notes issued to Total Formation Inc. (TFI), stockholder of the Company, with a total principal balance of approximately $35.3 million and fair value of approximately $46.3 million (the TFI Note) as of the Acquisition Date. The TFI Note bears 15% annual interest and payable on demand by TFI at any time on or after August 1, 2024. The Company may prepay any amount owed under the note in whole or in part at any time without penalty or premium, plus unpaid accrued interest as of the date of such repayment. In the event that the Company fails to pay any amount due under this note when due or if the Company commences any case, proceeding, or other action relating to bankruptcy, insolvency, or reorganization, these events will constitute an event of default. An event of default will result in TFI having the option, by written notice to the Company, to declare the entire principal amount, together with all accrued but unpaid interest, payable immediately. If any amount payable under this TFI Note is not paid when due, such overdue amount shall bear interest at the default rate of 16% from the date of such non-payment until such amount is paid in full. As of September 30, 2025 and December 31, 2024, the TFI Note was reported at a fair value of approximately $46.3 million and $46.3 million, respectively, which is included …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The Company has disaggregated its revenue from contracts with customers into categories based on the nature of the revenue. The following table presents the revenue streams disaggregated by nature and geographic location: For the three months ended September 30, 2025 2024 At a point in time Commissions $ 5,005 $ 4,785 Total revenue from the transfer of goods and services at a point in time 5,005 4,785 Over time Advertising revenue Saas fees Subscription fees Recurring asset management service fees 651 595 Loans interest income 60 Total revenue from the transfer of goods and services over time 651 655 Total revenue $ 5,656 $ 5,440 For the nine months ended September 30, 2025 2024 At a point in time Commissions $ 14,649 $ 15,661 Total revenue from the transfer of goods and services at a point in time 14,649 15,661 Over time Advertising revenue Saas fees Subscription fees Recurring asset management service fees 1,268 2,233 Loans interest income 35 123 Total revenue from the transfer of goods and services over time 1,303 2,356 Total revenue $ 15,952 $ 18,017 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

NOTE 15 INCOME TAX EXPENSE The provision for income tax expense consisted of the following: For the three months ended September 30, For the nine months ended September 30, 2025 2024 2025 2024 U.S. $ $ $ $ Other than U.S. 42 37 97 98 Income tax expense 42 37 97 98 For the three months ended September 30, For the nine months ended September 30, 2025 2024 2025 2024 Current tax $ 42 $ 37 $ 97 $ 98 Deferred tax Income tax expense 42 37 97 98 The Companys subsidiaries mainly operate in Hong Kong and the U.S. that are subject to taxes in the jurisdictions in which they operate, as follows: United States of America The Company is formed in the State of Delaware, the Company is subject to the federal income tax rate of 21%. British Virgin Islands The Companys subsidiaries are incorporated in the British Virgin Islands and is not subject to taxation. In addition, upon payments of dividends by these entities to their stockholders, no British Virgin Islands withholding tax will be imposed. Hong Kong The Companys subsidiaries operating in Hong Kong are subject to the Hong Kong Profits Tax at the income tax rates ranging from 8.25% to 16.5% on the assessable income arising in Hong Kong during its tax year. For the nine months ended September 30, 2025 and 2024, Hong Kong profits tax is calculated in accordance with the two-tiered profits tax rates regime. The applicable tax rate for the first HK$2 million of assessable profits is 8.25% and assessable profits above HK$ 2 million will contin …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 13 OPERATING LEASES The Company has entered into a commercial operating lease with an independent third party for the use of an office in Hong Kong. The lease has an original term exceeding 1 year, but not more than 3 years with an option to renew a further term of 3 years. The operating leases are included in Right-of-use asset, net on the condensed consolidated balance sheets and represents the Companys right to use the underlying assets during the lease term. The Companys obligation to make lease payments are included in Operating lease liabilities on the condensed consolidated balance sheets. Supplemental balance sheet information related to the operating lease was as follows: As of September 30, 2025 December 31, 2024 Operating lease: Right-of-use asset $ 12,626 $ 12,626 Less: accumulated amortization and impairment (12,626 ) (12,626 ) Right-of-use asset, net $ $ Lease liabilities: Current lease liabilities $ 1,280 $ 1,867 Non-current lease liabilities 807 Total lease liabilities $ 1,280 $ 2,674 Operating lease expense for the three and nine months ended September 30, 2025 was approximately $0.5 million and $1.5 million, respectively. Operating lease expense for the three and nine months ended September 30, 2024 was approximately $0.6 million and $1.9 million, respectively. Other supplemental information about the Companys operating lease as of September 30, 2025 and December 31, 2024 are as follow: As of September 30, 2025 December 31, 2024 Weighted average discoun …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standard Board (FASB) or other standard setting bodies and adopted by the Company as of the specified effective date. Unless otherwise discussed, the Company believes that the impact of recently issued standards that are not yet effective will not have a material impact on its financial position or results of operations upon adoption. In November 2024, the FASB issued ASU 2024-03, Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and the amendments may be applied either prospectively or retrospectively. Management is currently evaluating this ASU to determine its impact on the Companys disclosures. In January 2025, the FASB issued ASU 2025-01 Income Statement Reporting Comprehensive Income Expense Disaggregation Disclosures (Subtopic 220-40). The FASB issued ASU 2024-03 on November 4, 2024. ASU 2024-03 states that the amendments are effective for public business entities f …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

NOTE 16 RELATED PARTY BALANCES AND TRANSACTIONS The table below sets forth major related parties of the Company and their relationships with the Company. Name Relationship with the Company JFA Capital Investment private funds controlled by the holding company of the Company NSD Capital Investment private funds controlled by the holding company of the Company TAG Holdings Limited Stockholder of the Company TAG Financial Holdings Limited Company controlled by common stockholder of the Company Convoy Financial Services Limited Company controlled by common stockholder of the Company Convoy Global Holdings Limited Company controlled by common stockholder of the Company Giant Wisdom Ventures Limited Company controlled by major stockholder of the Company Atlas Merchant Capital LLC Company controlled by the former chairman of the Company Wong Suet Fai Almond Chief Operating Officer of the Company De Silva Trust Company controlled by director of subsidiaries of the Company HCMPS Healthcare Holdings Limited Company with common director of the Company Total Formation Inc. Stockholder of the Company In support of the Companys efforts and cash requirements, it may rely on advances from related parties until such time that the Company can support its operations or attain adequate financing through sales of its equity or traditional debt financing. There is no formal written commitment for continued support by the stockholder. Amounts represent advances or amounts paid in satisfaction of li …

RelatedPartyTransactionsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 4 SEGMENT INFORMATION By assessing the qualitative and quantitative criteria established by ASC Topic 280, Segment Reporting , management has determined that the Company has four reportable segments, which include the Companys social media, sports streaming, sports content, and financial services segments. The Companys reportable segments reflect how the Companys operations are managed, how the Companys Chief Executive Officer , who is the Chief Operating Decision Maker (CODM), allocates resources and evaluates performance, and how the Companys internal financial reporting is structured. For the three and nine months ended September 30, 2025 and 2024, the Companys reportable segments comprised of the following: 1. Social media The Social media segment consists of the Companys operations related to its social media platform and related services for content creation and distribution 2. Sports streaming The online streaming segment consists of the Companys operations related to its online streaming service. 3. Financial services The Financial services segment consists of revenues and costs incurred from the sale of investment products, offer asset management services and money lending services. The Companys reportable segments are strategic business units that offer different products and services. They are managed separately because each business unit requires different technology and marketing strategies. The following tables present the summary information by segment for …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES These accompanying unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described in this note and elsewhere in the accompanying unaudited condensed consolidated financial statements and notes. Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company are presented in United State dollars (US$ or $) and have been prepared in accordance with accounting principles generally accepted in the United States of America(U.S. GAAP) for interim financial information and with the instructions to Form 10-Q and Regulation S-X of the Securities Exchange Commission. Certain information and footnote disclosures normally included in consolidated financial statements have been omitted pursuant to such rules and regulations. The consolidated balance sheet as of December 31, 2024 derived from the audited consolidated financial statements at that date, but does not include all the information and footnotes required by U.S. GAAP. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Companys Annual Report on Form 10-K for the year ended December 31, 2024, as filed on January 26, 2026. The unaudited condensed consolidated financial statements as of September 30, 2025 and for the period ended September 30, 2025, …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

NOTE 18 SUBSEQUENT EVENTS In accordance with ASC Topic 855, Subsequent Events , which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before the condensed consolidated financial statements are issued, the Company has evaluated all events or transactions that occurred after September 30, 2025, up to the date that the unaudited condensed consolidated financial statements were available to be issued. (i) In October 2025, the Company issued 48,946 shares of common stock to a replacement warrant holder for exercising 48,946 replacement warrants. (ii) In October 2025, the Company issued 280,000 shares of common stock at a price of $1.00 per share to the Chief Operating Officer of the Company for the repayment of short-term borrowings. (iii) In October 2025, the Company issued an aggregate of 1,500,000 shares of common stock to the independent directors of the Company under the 2024 Equity Incentive Plan. (iv) In October 2025, the Company issued an aggregate of 8,100,000 shares of common stock to the director and officers of the Company to compensate for the contributions of their services and performance. (v) In October to December 2025, the Company issued an aggregate of 900,000 shares of common stock to certain consultants to compensate for their services rendered, at a price of $1.00 per share. (vi) On October 14, 2025, the Company received a delisting determination letter (the Determination Letter) from Nasdaq …

SubsequentEventsTextBlock · excerpt; the full note is in the filing