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MDBH on Nasdaq

MDB Capital Holdings, LLC

MDB Capital Holdings, LLC is an American finance services company based in Dallas, listed on Nasdaq (MDBH).1

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Last updated Oct 21, 2026.

Overview

-$21.2MNet income, fiscal 20252

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  • TickerMDBH on Nasdaq1
  • IndustryFinance Services1
  • HeadquartersDallas, Texas1
  • Incorporated inDE3
  • Business address4209 Meadowdale Ln, Dallas, Tx 952293
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company3
  • Legal formLimited Liability Company

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We believe that only this type of community can provide suitable financing options that will meet the needs of small public venture companies.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-35.0%Return on equity2

Financial statements

Operating income672$4.9M in 2025+303% since 2022
0$2.0M$4.0M$6.0M2022: $1.2M$1.2M20222023: $6.0M$6.0M2023+392%2024: $2.2M$2.2M2024−64%2025: $4.9M$4.9M2025+128%
Net income672-$21.2M in 2025+300% since 2022
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2022: -$5.3M-$5.3M20222023: -$7.0M-$7.0M2023+31%2024: $11.7M$11.7M20242025: -$21.2M-$21.2M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Unrealized (loss) on investment securities, net from the licensed broker dealer (Notes 1 and 2)-$331.0K-$275.0K
Unrealized gain on investment securities, net from non-licensed broker dealer (Notes 1 and 2)$85.0K
Realized gain on investment securities, net from the licensed broker dealer$14.0K
Fee income (from our licensed broker dealer)$4.3M$2.2M
Impairment of investment securities-$200.0K-$50.0K
Other operating income$861.0K$411.0K
Total operating income, net$4.9M$2.2M
Compensation$15.0M$20.1M
Operating expense, related party$1.8M$1.5M
Professional fees$1.9M$3.1M
Information technology$1.1M$922.0K
Clearing and other charges$556.0K$1.1M
General and administrative-other$2.2M$2.6M
Total general and administrative costs$22.6M$29.3M
Research and development costs, net of grants $0 and $2,003 in 2024 and 2024$1.5M
Total operating costs$22.6M$30.8M
Net operating loss-$17.7M-$28.6M
Miscellaneous income$75.0K$112.0K
Interest income$617.0K$1.2M
Interest expense-$72.0K
Gain related to dilution events$61.0K$130.0K
Gain on deconsolidation of subsidiary$39.3M
Net income (loss) before income taxes-$17.0M$12.0M
Income taxes$11.0K$2.0K
Net income (loss) before equity method investee-$17.0M$12.0M
Equity in loss of equity method investee-$4.3M-$420.0K
Net income (loss)-$21.3M$11.6M
Less net loss attributable to non-controlling interest-$21.0K-$90.0K
Net income (loss) attributable to MDB Capital Holdings, LLC-$21.2M$11.7M
Research and development, Grants$0$2.0M

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Corporate structure

MDB Capital Holdings, LLC sits at the top of its group. 6 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of MDB Capital Holdings, LLC

  • MDB Capital Holdings, LLC Dallas, Texas
    • eXoZymes Technologies, Inc. Subsidiary · Nevada, United States
    • MDB CG Management Company Subsidiary · Delaware, United States
    • MDB Minnesota One, Inc. Subsidiary · Delaware, United States
    • PatentVest, Inc. Subsidiary · Delaware, United States
    • Public Ventures, LLC Subsidiary · Texas, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What MDB Capital Holdings, LLC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Computer equipment and software$139.0K2 Dec 31, 2025$113.0K2 Dec 31, 2024+23.0%
Property and equipment, before depreciation$139.0K2 Dec 31, 2025$113.0K2 Dec 31, 2024+23.0%
Accumulated depreciation$22.0K2 Dec 31, 2025$23.0K2 Dec 31, 2024−4.3%
Property and equipment, net$117.0K2 Dec 31, 2025$90.0K2 Dec 31, 2024+30.0%
Operating-lease assets (leased space)$547.0K2 Dec 31, 2025$641.0K2 Dec 31, 2024−14.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$13.2M2 Dec 31, 2025$20.4M2 Dec 31, 2024−35.3%
Debt securities available for sale$5.9M7 Dec 31, 2024$5.8M7 Dec 31, 2023+1.5%
Stakes in other companies (equity method)$37.5M2 Dec 31, 2025$41.8M2 Dec 31, 2024−10.1%
Deposits held (banks)$2.0M2 Dec 31, 2025$2.0M7 Dec 31, 20240%

Properties, in its own words

We own no real property. Our principal office is located in Addison, Texas. In July 2022, we secured a lease for approximately 5,500 square feet of office space, with the lease set to expire in July 2030. This space serves as our principal executive offices and for general office use. The base monthly rental rate is $12.5 thousand until July 2024, after which it will increase to $12.8 thousand. Subsequent increases are scheduled as follows: to $13.0 thousand in July 2025, $13.2 thousand in July 2026, $13.5 thousand in July 2027, $13.7 thousand in July 2028, and finally, to $14.0 thousand in July 2029, continuing through the end of the lease term in July 2030.

We believe that our leased spaces is at local market rates, and there is sufficient space available to permit the specific operations to obtain additional or other space if and when required. We do not believe that if there is additional space or other space required, that the cost will be prohibitive.

Item 2 of the 10-K filed Mar 31, 2026.5

Leadership

Who has led MDB Capital Holdings, LLC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Christopher A. Marlett2023–now

President

  1. George Hugh Brandon2023–now

Chief financial officer

  1. Jeremy William James2024–now
2025
Board members and other officers (15)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorMo Hayat named Jun 23, 202224

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • MDB CG Management Company Delaware4
  • MDB Minnesota One, Inc. Delaware4
  • PatentVest, Inc. Delaware4
  • Public Ventures, LLC Texas4
  • eXoZymes Technologies, Inc. Nevada4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Feb 2, 20268-K Executive or director change25
  2. Dec 4, 20258-K Shareholder vote26
  3. Jun 2, 20258-K Executive or director change27
  4. Apr 11, 20258-K Other events28
  5. Dec 13, 20248-K Shareholder vote29
  6. Jul 8, 20248-K Entered a material agreement30
  7. Jun 20, 20248-K Executive or director change; Other events31
  8. Dec 22, 20238-K Change of auditor32
  9. Nov 16, 20238-K Results of operations33
  10. Nov 14, 20238-K Earlier financial statements no longer reliable34
  11. Sep 20, 20238-K Other events35
  12. Aug 2, 2023New chief executive Christopher A. Marlett becomes CEO10
  13. Jul 31, 20238-K Other events36

Calendar

Coming up

  1. Nov 12, 2026Reports results for the quarter ending Sep/202637

When it reported results

  1. Nov 16, 2023Reported quarterly or annual results33

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

131 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 12 major events, 73 insider forms, 2 large holders, 1 private raises, 30 other. The latest 20:

  1. Oct 15, 20264 EDGAR
  2. Oct 15, 20264 EDGAR
  3. Aug 13, 202610-Q EDGAR
  4. May 14, 202610-Q EDGAR
  5. May 8, 20264 EDGAR
  6. May 8, 20264 EDGAR
  7. May 8, 20263 EDGAR
  8. May 4, 20264 EDGAR
  9. Apr 22, 20264 EDGAR
  10. Apr 22, 20264 EDGAR
  11. Apr 22, 20264 EDGAR
  12. Apr 9, 20263 EDGAR
  13. Apr 7, 20264 EDGAR
  14. Mar 31, 202610-K EDGAR
  15. Feb 12, 20264 EDGAR
  16. Feb 12, 20264 EDGAR
  17. Feb 12, 20264 EDGAR
  18. Feb 2, 20268-K EDGAR
  19. Jan 27, 20264 EDGAR
  20. Jan 5, 20264 EDGAR

The 131 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

68 open-market trades by officers, directors and large owners since October 2021: 64 buys and 4 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 23, 2026James Jeremy WilliamCFOSale60$3.34$200Form 4
Jan 2, 2026MARLETT CHRISTOPHER ACo-FounderBuy1,213$3.50$4.2KForm 4
Dec 31, 2025MARLETT CHRISTOPHER ACo-FounderBuy4,387$3.35$14.7KForm 4
Dec 30, 2025MARLETT CHRISTOPHER ACo-FounderBuy4,400$3.18$14.0KForm 4
Dec 9, 2025Brandon George HughPresidentBuy3,700$3.38$12.5KForm 4
Dec 8, 2025Brandon George HughPresidentBuy600$3.30$2.0KForm 4
Dec 5, 2025Brandon George HughPresidentBuy900$3.29$3.0KForm 4
Dec 4, 2025Brandon George HughPresidentBuy1,900$3.52$6.7KForm 4
Dec 3, 2025Brandon George HughPresidentBuy3,900$3.63$14.2KForm 4
Dec 2, 2025Brandon George HughPresidentBuy1,250$3.50$4.4KForm 4
Dec 1, 2025Brandon George HughPresidentBuy2,998$3.49$10.5KForm 4
Oct 6, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,725$3.41$5.9KForm 4
Oct 3, 2025MARLETT CHRISTOPHER ACo-FounderBuy2,275$3.35$7.6KForm 4
Aug 29, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,645$3.52$5.8KForm 4
Aug 28, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,575$3.56$5.6KForm 4
Aug 27, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,288$3.40$4.4KForm 4
Aug 26, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,414$3.35$4.7KForm 4
Aug 25, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,232$3.31$4.1KForm 4
Aug 22, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,200$3.33$4.0KForm 4
Aug 21, 2025MARLETT CHRISTOPHER ACo-FounderBuy1,200$3.45$4.1KForm 4

All 68 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Mo HayatHead of Corporate Development & Chief Legal Officer50$300.0K$1.1M40
2024Christopher MarlettCEO61$350.0K$703.2K40
2024Anthony DiGiandomenicoHead of New Venture Discovery59$300.0K$653.2K40

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$25.3M 2022–2022
Money received by yearMoney received by year, 2022–2022: $25.3M in all. Private raises (Form D) $25.3M.$0$10M$20M$30M2022 · Private raises (Form D): $25.3M2022
Figures by year
YearPrivate raises (Form D)Total
2022$25.3M$25.3M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Jun 10, 2022Raised $25.3 million in a private offering of equity24 Form D: 192 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Pasadena Private Wealth, LLC85,200$298.2K0.0%No change
UBS Group AG54,189$189.7K0.0%−415
Beacon Pointe Advisors, LLC30,000$105.0K0.0%No change
Susquehanna International Group, Llp12,886$48.2K0.0%+489
Morgan Stanley101$3540.0%+100

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How MDB Capital Holdings, LLC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMDB Capital Holdings, LLC1
  • CIK0001934642
  • Employer ID (EIN)87-43666245
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 311
  • Industry code (SIC)6199 Finance Services1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address4209 Meadowdale Ln, Dallas, TX 952291
  • Phone310-526-50001
  • Shares outstanding5,300,132 Common Class A shares; 5,000,000 Common Class B shares as of Mar 31, 20265
  • Public float$22.2M as of Jun 30, 20255
  • AuditorRBSM LLP, New York PCAOB ID 587; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJun 23, 20221
  • Filings133 in all: 4 (61), 8-K (12), 3 (11), 10-Q (10), CORRESP (7), S-1/A (6), UPLOAD (4), 10-K (3)1
    All 20 form types

    4/A (3), 424B4 (3), 424B3 (2), DEF 14A (2), SC 13D (2), 144 (1), 8-A12B (1), CERT (1), D (1), EFFECT (1), S-1 (1), S-8 (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Nov 14, 2025
    Latest 8-K (8-K) Feb 2, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Shares, representing Limited Liability InterestsMDBHNasdaq

From the cover page of the 10-K filed Mar 31, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks MDB Capital Holdings, LLC names in Item 1A of its 10-K filed Mar 31, 2026: 67 risks under these headings, as written.5

  • Risks Relating to Holding Company Taxation
  • You may be subject to U.S. federal income tax on your share of our taxable income, regardless of whether you receive any cash distributions from us.
  • You may be subject to state, local and other taxes, depending on your own particular circumstances.
  • Allocations of income and loss may be re-determined by the IRS.
  • MDB may provide delayed final Schedules K-1.
  • If we are treated as a corporation for U.S. federal income tax purposes, the value of the shares could be materially adversely affected.
  • Our structure involves complex provisions of U.S. federal and state income tax law for which no clear precedent or authority may be available. Our structure is also subject to potential legislative, judicial or administrative change and differing interpretations, possibly on a retroactive basis.
  • Complying with certain tax-related requirements may cause us to forego otherwise attractive business or investment opportunities or enter into acquisitions, borrowings, financings or arrangements we may not have otherwise entered into.
  • Shareholders may be subject to restrictions on deductibility of expenses and other losses.
  • Future legislative or regulatory action could significantly change the tax aspects of an investment in our shares.
  • Risks Relating to Our General Business Operations
  • Although our partner company model has been successful in the past, there is no assurance that we will continue to be successful in selecting our partner companies or that these partner companies will generate income returns at the same or similar levels as those of our prior partner companies.
The other 57 risks
  • We might require additional capital to support operations and business growth and to fund our partner companies; this capital might not be available on terms favorable to us, or all, when needed.
  • Our business depends upon our ability to make good decisions regarding the deployment of capital into new or existing partner companies and, ultimately, the performance of our partner companies, both of which are uncertain.
  • Our business model does not rely upon the receipt of operating cash flows from our partner companies.
  • Our success depends, in part, on the successful development of our partner companies.
  • Our partner companies are expected to be early-stage development companies, which will make it difficult to judge and evaluate their businesses and their future success.
  • One of our subsidiaries, Public Ventures, is subject to Securities and Exchange Commission and FINRA regulation, DTC participant requirements, and settlement bank agreements, and, if not compliant with those regulations, may be subject to fines, limitations on activity and financial impairment.
  • Our partner companies are likely to be operating in businesses that are subject to extensive regulation, which if not compliant with those regulations may be subject to fines, limitations on activity and financial impairment.
  • We plan to operate as a company not regulated under the Investment Company Act of 1940. We may have to buy, sell or retain assets when we would otherwise not wish to do so in order to avoid registration under the Investment Company Act.
  • Our ability to retain our senior professionals and recruit additional professionals is critical to the success of our business, and our failure to do so may adversely affect our reputation, business, results of operations, cash flows and financial condition.
  • Potential Adverse Impact of U.S. and Nicaraguan Political and Regulatory Environments on Our Operations.
  • We out-source aspects of our business operations in Nicaragua.
  • Risks related to our significant and concentrated equity investment in eXoZymes.
  • There may be securities market risks resulting from owning the equity securities of our partner companies.
  • We could experience competition from other potential acquirers when we seek to establish partner companies, which may result in not being able to acquire them or having to invest at a higher valuation, thus increasing our risk of loss and reducing potential future gains.
  • We may be limited in our ability to attract and continue to employ personnel engaged by our partner companies.
  • There is significant competition for the time and capital of our community members and they have no obligation to continue to own MDB member interests, or participate in the development of the partner companies as envisioned by our business model.
  • Impact of Ukrainian and Israeli Conflict
  • Impact of the Iran Conflict
  • The collection, processing, use, storage, sharing and transmission of personal information and other sensitive data are subject to stringent and changing state, federal and international laws, regulations and standards and policies and could give rise to liabilities as a result of our failure or perceived failure to protect such data, comply with privacy and data protection laws and regulations or adhere to the privacy and data protection practices that we articulate to our clients.
  • Cyberattacks and other security breaches or disruptions suffered by us or third parties upon which we rely could have a materially adverse effect on our business, harm our reputation and expose us to public scrutiny or liability.
  • Risks Pertaining to Partner Companies in General
  • Based on our business model, some or all of our partner companies likely will need to raise capital from time to time to fund their operations. We may not be able to fund some or all of these amounts, and the amounts may not be available from third parties on acceptable terms, or at all.
  • If we are not successful in attracting and retaining highly qualified personnel, we may not be able to successfully implement our business strategy. In addition, the loss of the services of the founders of our partner companies could adversely impact their business prospects and the value of our ownership of the partner company.
  • Some intellectual property of our partner companies will be funded through government programs, thus being subject to federal regulation such as “march-in” rights, certain reporting requirements and a preference for U.S. industry. Compliance with these regulations may limit exclusive rights, subject the companies to expenditure of resources with respect to reporting requirements, and limit the ability to contract with foreign manufacturers.
  • Some of our partner companies may be unable to protect their proprietary rights and may infringe on the proprietary rights of others.
  • Our partner companies have limited foreign intellectual property rights and may not be able to protect their intellectual property rights throughout the world.
  • Our partner companies may incur substantial costs as a result of litigation or other proceedings relating to intellectual property, including patents, and they may be unable to protect their rights to their products and technology.
  • Patent terms may be inadequate to protect a competitive position for an adequate amount of time.
  • Our efforts to maintain and protect our intellectual property rights through means in addition to registration may not be sufficient to protect our business.
  • If trademarks and trade names are not adequately protected, then our partner companies may not be able to build name recognition in the markets of interest and their business may be adversely affected.
  • Collaborations of various sorts, by our partner companies, such as with respect to research, testing, clinical trials, manufacturing and distribution, will be important to their respective businesses. Their inability to enter into collaboration arrangements as needed, or if such collaborations are not successful, may adversely impact their respective businesses.
  • Risks Related to M1
  • M1 has a limited operating history on which to evaluate its ability to achieve its operating objectives.
  • M1 may not be successful in its efforts to advance from the pre-clinical development stage and to fully develop a small molecule senescence platform.
  • Risks Related to PatentVest
  • If PatentVest does not identify the full range of patent opportunities relevant to clients’ intellectual property portfolio, its reputation will be harmed and it may be liable for service failure.
  • If clients do not agree that the patents opportunities identified in the PatentVest reports are relevant to their businesses, PatentVest will have difficulty retaining and attracting new clients, which could harm its operating results.
  • PatentVest is dependent on relationships with third parties, including public sources, to provide it with data, information and other services; if any of these relationships change, its business could be adversely affected.
  • PatentVest might not be able to scale its business as fast as it believes can be done or be able to maintain the quality of its services and reports.
  • We believe patent analysis is a highly competitive business, and if PatentVest fails to develop widespread brand awareness in a cost-effective manner, the business may suffer.
  • PatentVest is licensed to offer legal services under Arizona law, and it plans to offer legal services as part of its package of intellectual property service offerings. As a result, PatentVest must comply with the ethical and legal provisions, licensing responsibilities and obligations of a law firm under the laws of the State of Arizona.
  • Risks related to Public Ventures
  • Public Ventures conducts offerings where we will act as a placement agent or an underwriter, and thus we are subject to underwriter and similar liability.
  • Public Ventures self-clearing capabilities facilitate its operations.
  • As a broker-dealer, Public Ventures will have to expend considerable resources on maintaining adequate compliance practices. The failure to be in regulatory compliance may result in fines, sanctions and the possible curtailment of operations.
  • We may be exposed to more cybersecurity threats as we expand our business.
  • The clearing operations of Public Ventures will require contractual arrangements with several key industry entities, which, if not followed, will require it to terminate that portion of its business.
  • Public Ventures will have to maintain adequate capitalization levels to conduct its broker-dealer and clearing businesses.
  • Settlement bank services are difficult to arrange, without which Public Ventures will not be able to operate a clearing business.
  • Hiring and organizing personnel for the clearing operations.
  • Where permitted by regulation, Public Ventures will use an overseas out-source provider for some of the self-clearing operation activities although political and social instability and the threat of sanctions by countries, including the United States, may disrupt or hinder the delivery of such services and result in increased costs.
  • Risks Related to Being a Public Company and Owning Our Class A Common Shares
  • Control by management may limit your ability to influence the outcome of director elections and other transactions requiring shareholder approval.
  • We are deemed a “controlled company” under the listing rules of Nasdaq because our Class B Common Shares are held by two persons who have more than 50% control of the Company. As a controlled company, MDB will be exempt from certain of the corporate governance obligations that other companies must follow when listing on Nasdaq.
  • The dual class structure of our currently issued equity securities may adversely affect the trading market for our Class A Common Shares.
  • The existence of our registered broker-dealer subsidiary may delay or prevent takeover attempts of our Company.
  • Our capital structure may have anti-takeover effect.
  • We may make distributions of the securities of our partner companies, including cash and rights to purchase equity of a partner companies.
  • We incur costs as a result of operating as a public company, and our board of directors is required to devote substantial time to oversight of compliance requirements and corporate governance practices.
  • We are a smaller reporting company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to smaller reporting companies, this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
  • We do not have key-man insurance.
  • The price of our Class A Common Shares may be volatile, and could, upon listing on the Nasdaq Capital Market, decline significantly and rapidly. Market volatility may affect the value of an investment in our Class A Common Shares and could subject us to litigation.
  • Certain recent initial public offerings of companies with relatively small public floats have experienced extreme volatility that was seemingly unrelated to the underlying performance of the company. Our Class A Common Shares may potentially experience rapid and substantial price volatility, which may make it difficult for prospective investors to assess the value of our Class A Common Shares.
  • The United States stock markets recently have experienced price and volume fluctuations due to many factors, including federal government policies, inflationary pressures, changing interest rates, and the conflicts in Ukraine and Iran.

Legal proceedings

From time to time, we may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of our rights under contracts with our customers and regulatory review which may result in various kinds of penalties, such as censures and monetary fines. While the outcome of these legal proceedings cannot be predicted with certainty, we do not expect that these proceedings will have a material effect upon our financial condition, results of operations or cash flows.

The opening of Item 3, Legal Proceedings.5

Sources

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    SEC EDGAROther events
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