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YHC on Nasdaq

LQR House Inc.

LQR House Inc. is an American beverages company that raised $4.9 million in 2024 (SEC Form D).1 It is headquartered in Miami Beach, Florida.1 Its shares trade on Nasdaq under the symbol YHC.1

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Last updated Oct 21, 2026.

Overview

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  • TickerYHC on Nasdaq1
  • IndustryBeverages1
  • HeadquartersMiami Beach, Florida1
  • Incorporated inDE2
  • Business address6538 Collins Ave Suite 344, Miami Beach, Fl 331412
  • Filer categoryNon-accelerated filer, Smaller reporting company, Emerging growth company2
  • Legal formCorporation

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LQR House Inc., a Nevada corporation. On March 2, 2026, we reincorporated in the State of Delaware through a statutory conversion. The Company conducts its operations through three wholly-owned subsidiaries:3 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

10.8%Gross margin4
-730.3%Operating margin4
-1631.0%Net margin4
-37.4%Revenue growth, 20254
-87.0%Return on equity4
-$34.2MFree cash flow4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

CWSPlatform brought in 80% of the revenue LQR House Inc. broke down this way in fiscal 2025.

  1. CWSPlatform$1.3M480%down 47% from 2024
  2. SWOLProduct Sales$200.6K413%up 396% from 2024
  3. Marketing$65.0K44%down 12% from 2024
  4. Vault$47.6K43%up 7% from 2024
Products and services by year
Products and services20242025
CWSPlatform$2.3M$1.3M
SWOLProduct Sales$40.4K$200.6K
Marketing$73.5K$65.0K
Vault$44.5K$47.6K

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue89¢$1.4M
  • Other costs11¢$169.3K

Out of $1.6M in revenue.4 The company lost money this year.

Financial statements

Revenue54$1.6M in 2025+160% since 2022
0$1.0M$2.0M$3.0M2022: $601.1K$601.1K20222023: $1.1M$1.1M2023+86%2024: $2.5M$2.5M2024+123%2025: $1.6M$1.6M2025−37%
Gross profit564$169.3K in 2025
-$400.0K-$200.0K0$200.0K$400.0K2022: -$202.0K-$202.0K20222023: $205.0K$205.0K20232024: -$313.2K-$313.2K20242025: $169.3K$169.3K2025
Operating income564-$11.4M in 2025+520% since 2022
-$20.0M-$15.0M-$10.0M-$5.0M02022: -$1.8M-$1.8M20222023: -$15.6M-$15.6M2023+746%2024: -$18.5M-$18.5M2024+19%2025: -$11.4M-$11.4M2025−38%
Net income564-$25.5M in 2025+1285% since 2022
-$30.0M-$20.0M-$10.0M02022: -$1.8M-$1.8M20222023: -$15.7M-$15.7M2023+755%2024: -$22.8M-$22.8M2024+44%2025: -$25.5M-$25.5M2025+12%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Total revenues$1.6M$2.5M
Total cost of revenue$1.4M$2.8M
Gross profit (loss)$169.3K-$313.2K
General and administrative$11.0M$14.6M
Sales and marketing$643.6K$3.6M
Total operating expenses$11.6M$18.2M
Loss from operations-$11.4M-$18.5M
Impairment of investment-$1.1M-$4.5M
Legal settlement expense-$13.0M
Gain on sale of marketable securities$5.7K
Other income$33.5K$227.5K
Total other expenses, net-$14.1M-$4.3M
Net loss-$25.5M-$22.8M
Weighted average common shares outstanding - basic (in Shares)7.3M shares157.7K shares
Weighted average common shares outstanding - diluted (in Shares)7.3M shares157.7K shares
Net loss per common share - basic (in Dollars per share)-$3.51-$144.33
Net loss per common share - diluted (in Dollars per share)-$3.51-$144.33

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Corporate structure

LQR House Inc. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of LQR House Inc.

  • Yilin Lu Filed SCHEDULE 13D on LQR House Inc., latest Dec 19, 2025
  • Diveroli Investment Group LLC Filed SCHEDULE 13D/A on LQR House Inc., latest Nov 19, 2025 (3 filings since Jul 18, 2025)
  • Robert Leshner Filed SCHEDULE 13D/A on LQR House Inc., latest Jul 17, 2025 (3 filings since Jul 7, 2025)
  • 1173727 BC LTD. Filed SCHEDULE 13G/A on LQR House Inc., latest Jun 6, 2025 (2 filings since Oct 25, 2023)
  • Wilson Su Filed SCHEDULE 13G/A on LQR House Inc., latest Jan 27, 2025 (3 filings since Oct 24, 2023)
  • David E. Lazar Filed SC 13D/A on LQR House Inc., latest Nov 25, 2024 (2 filings since Oct 21, 2024)
  • Sean Dollinger Filed SC 13G on LQR House Inc., latest Feb 14, 2024
  • 1226053 BC LTD Filed SC 13G on LQR House Inc., latest Oct 24, 2023
  • 1295441 BC LTD Filed SC 13G on LQR House Inc., latest Oct 24, 2023
  • LQR House Inc. Miami Beach, Florida

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What LQR House Inc. 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
Property and equipment, before depreciation$340.5K4 Dec 31, 2025
Accumulated depreciation$28.4K4 Dec 31, 2025$04 Dec 31, 2024
Property and equipment, net$312.2K4 Dec 31, 2025
Operating-lease assets (leased space)$51.7K4 Dec 31, 2025$8.4K6 Dec 31, 2023+514.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$5.4M6 Dec 31, 2024$7.1M6 Dec 31, 2023−23.7%
Stakes in other companies (equity method)$18.5M4 Dec 31, 2025

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$10.0K4 Dec 31, 2024$10.0K6 Dec 31, 20230%

Properties, in its own words

We do not own any real property. We do not lease any real property or physical office space. We maintain a mailing address at 6538 Collins Ave. Suite 344, Miami Beach, Florida 33141, which serves as the mailing address for both LQR House Inc. and its wholly-owned subsidiary SWOL Holdings Inc.

We also maintain a mailing address in North Carolina at 5306 Six Forks Rd Ste 107 PMB1290 Raleigh, NC 27609, which is used for correspondence and administrative purposes.

The rest of Item 2

We are a remote-first company, meaning that our employees, consultants and contactors work remotely. Substantially all of our executive team meetings are held virtually, with meetings occasionally held in-person at locations that are not our offices. We hold all of our stockholder meetings virtually. As a result of this strategy, we do not maintain corporate headquarters or principal executive offices. We believe this arrangement is presently adequate to meet the Company’s operational needs.

Item 2 of the 10-K filed Apr 15, 2026.3

Leadership

Who has led LQR House Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Sean Dollinger2023–now

President

  1. David E. Lazar2024–2025
  2. Yilin Lu2025–now

Chief financial officer

  1. Kumar Abhishek2023
2025
Board members and other officers (13)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorAngela Kattoula named Dec 13, 202124
  • DirectorJames O'Brien named Jan 3, 202525
  • DirectorJing Lu named Jan 3, 202525
  • DirectorDollinger Guy named Dec 13, 202124
  • DirectorPeter Simeon named Dec 13, 202124

Timeline

  1. Aug 10, 20268-K Completed an acquisition or sale26
  2. Jul 15, 20268-K Bylaws or fiscal year changed; Regulation FD disclosure27
  3. Jul 2, 20268-K Other events28
  4. Jun 30, 20268-K Regulation FD disclosure29
  5. Jun 4, 20268-K Executive or director change30
  6. Jun 2, 20268-K Entered a material agreement; Regulation FD disclosure31
  7. May 22, 20268-K Entered a material agreement; New debt or obligation32
  8. May 18, 20268-K Executive or director change33
  9. Apr 15, 20268-K Entered a material agreement; Executive or director change34
  10. Mar 12, 20268-K Entered a material agreement35
  11. Mar 12, 20268-K Financial statements and exhibits36
  12. Mar 6, 20268-K Change to shareholders' rights; Bylaws or fiscal year changed; Shareholder vote37
  13. Aug 14, 2023New chief executive Sean Dollinger becomes CEO9

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/202638

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

Filings

227 filings to the SEC since October 2021: 3 annual reports, 11 quarterly reports, 50 major events, 50 insider forms, 17 large holders, 4 private raises, 92 other. The latest 20:

  1. Aug 19, 202610-Q QUARTERLY REPORT EDGAR
  2. Aug 17, 2026NT 10-Q NOTIFICATION OF LATE FILING EDGAR
  3. Aug 10, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
  4. Jul 15, 20268-K CURRENT REPORT EDGAR
  5. Jul 2, 20268-K CURRENT REPORT EDGAR
  6. Jun 30, 20268-K CURRENT REPORT EDGAR
  7. Jun 4, 20268-K CURRENT REPORT EDGAR
  8. Jun 2, 20268-K CURRENT REPORT EDGAR
  9. May 22, 20268-K CURRENT REPORT EDGAR
  10. May 18, 20268-K CURRENT REPORT EDGAR
  11. May 15, 202610-Q QUARTERLY REPORT EDGAR
  12. Apr 15, 202610-K ANNUAL REPORT EDGAR
  13. Apr 15, 20268-K CURRENT REPORT EDGAR
  14. Mar 31, 2026NT 10-K NOTIFICATION OF LATE FILING EDGAR
  15. Mar 12, 20268-K/A AMENDMENT NO. 1 TO FORM 8-K EDGAR
  16. Mar 12, 2026424B5 PROSPECTUS SUPPLEMENT EDGAR
  17. Mar 12, 20268-K CURRENT REPORT EDGAR
  18. Mar 6, 20268-K CURRENT REPORT EDGAR
  19. Feb 23, 20268-K CURRENT REPORT EDGAR
  20. Jan 28, 2026DEF 14A PROXY STATEMENT EDGAR

The 227 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

10 open-market trades by officers, directors and large owners since October 2021: 7 buys and 3 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Dec 17, 2025Lu YilinPresidentBuy2,000,000$0.90$1.8MForm 4
Jul 17, 2025Lambeth George Patrick10% ownerSale180,000$3.04$547.2KForm 4
Nov 26, 2024Hoffman AlexandraDirectorBuy8,000$1.02$8.1KForm 4
Nov 26, 2024Dollinger SeanCHIEF EXECUTIVE OFFICERBuy28,700$1.04$29.8KForm 4
Nov 25, 2024Lazar David E.PresidentSale280,000Form 4
Nov 21, 2024Lazar David E.PresidentSale821,818Form 4
Dec 20, 2023Dollinger SeanCHIEF EXECUTIVE OFFICERBuy23,100$4.61$106.4KForm 4
Dec 20, 2023Dollinger SeanCHIEF EXECUTIVE OFFICERBuy23,100$4.61$106.4KForm 4
Nov 21, 2023Dollinger SeanCHIEF EXECUTIVE OFFICERBuy753,064$0.08$61.2KForm 4
Aug 23, 2023Dollinger SeanCHIEF EXECUTIVE OFFICERBuy86,400$1.16$100.3KForm 4

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
2024Sean Dollinger,46$586.7K$1.6M48
2024Kumar Abhishek,49$73.3K$623.3K48
2024Jaclyn Hoffman,36$99.6K$384.6K48
2023Chief Executive Officer$337.6K$5.4M48
2023Chief Financial Officer$88.6K$113.6K48
2023Chief Marketing Officer$64.1K48

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$4.9M 2021–2024
Money received by yearMoney received by year, 2021–2024: $4.9M in all. Private raises (Form D) $4.9M.$0$1M$2M$3M2021 · Private raises (Form D): $50.0K202120222023 · Private raises (Form D): $1.9M20232024 · Private raises (Form D): $3.0M2024
Figures by year
YearPrivate raises (Form D)Total
2024$3.0M$3.0M
2023$1.9M$1.9M
2021$50.0K$50.0K

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. Oct 15, 2024Raised $3 million in a private offering of equity25 Form D: $22.8 million offered in all Form D
  2. Jun 1, 2023Raised $350,000 in a private offering of equity49 Form D: 2 investors so far Form D
  3. Jun 1, 2023Raised $1.5 million in a private offering of equity50 Form D: 3 investors so far Form D
  4. Apr 26, 2021Raised $50,000 in a private offering of equity24 Form D: 2 investors so far Form D

SEC filer profile

How LQR House Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLQR House Inc.1
  • CIK0001843165
  • Employer ID (EIN)86-16041973
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inDelaware3
  • Fiscal year endsDecember 311
  • Industry code (SIC)2080 Beverages1
  • SEC reviewing officeOffice of Manufacturing, Division of Corporation Finance1
  • Business address6538 Collins Ave Suite 344, Miami Beach, FL 331411
  • Phone(786) 389-97711
  • Shares outstanding1,303,857 as of Aug 19, 20268
  • Public float$4.5M as of Jun 30, 20253
  • AuditorEnrome LLP, Singapore PCAOB ID 6907; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceJan 29, 20211
  • Filings230 in all: 8-K (47), 4 (29), CORRESP (23), 3 (20), UPLOAD (11), 10-Q (10), D (7), 424B5 (6)1
    All 46 form types

    EFFECT (6), SC 13G (5), 424B3 (4), S-1/A (4), 10-K (3), 424B4 (3), 8-K/A (3), DEF 14A (3), DRS (3), PRE 14A (3), S-1 (3), S-3 (3), SCHEDULE 13D (3), SCHEDULE 13D/A (3), 253G2 (2), NT 10-Q (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 1-A (1), 1-A-W (1), 1-A/A (1), 1-Z (1), 10-Q/A (1), 4/A (1), 8-A12B (1), CERT (1), DEF 14C (1), DEFA14A (1), DEFR14A (1), DRS/A (1), DRSLTR (1), NT 10-K (1), PRE 14C (1), QUALIF (1), S-1MEF (1), S-8 (1), SC 13D (1), SC 13D/A (1)

  • Latest filingsAnnual report (10-K) Apr 15, 2026
    Quarterly report (10-Q) Aug 19, 2026
    Proxy statement (DEF 14A) Jan 28, 2026
    Latest 8-K (8-K) Jul 15, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par value per shareYHCThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed Apr 15, 2026 (Section 12(b) of the Exchange Act).3

Risk factors and legal proceedings

The risks LQR House Inc. names in Item 1A of its 10-K filed Apr 15, 2026: 57 risks under these headings, as written.3

  • Risks Related to Our Business and Industry
  • Our Chief Executive Officer, Sean Dollinger, has been the subject of a compliance review that was initiated by the British Columbia Securities Commission, and has not formally been concluded, in connection with the sale of a subsidiary by Namaste Technologies Inc. when Mr. Dollinger was the Chief Executive Officer there, and if the British Columbia Securities Commission or any other regulatory agency takes additional action against Mr. Dollinger, our business could be materially adversely affected.
  • Our Chief Executive Officer is, and may in the future become, affiliated with entities engaged in business activities similar to those that could be conducted by us and, accordingly, may in the future have conflicts of interest in allocating his time and determining to which entity a particular business opportunity should be presented.
  • Our business, revenue, and operations are highly dependent on our relationship with CWS, and any disruption in that relationship could materially adversely affect our business.
  • We have a limited operating track record for certain aspects of our business, which may make it difficult to evaluate our growth prospects
  • Our independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern, and we will require additional capital to sustain our operations.
  • The Company may need to raise additional capital to support its operations.
  • The Company may incur significant losses, and there can be no assurance that the Company will ever become a profitable business.
  • The Company’s future revenue and operating results are unpredictable and may fluctuate significantly.
  • We rely on a limited number of suppliers, or, in some cases, a sole supplier, and may not be able to find replacements or immediately transition to alternative suppliers.
  • If demand for our products and services does not develop as expected our projected revenues and profits will be affected.
  • If we fail to acquire and retain new customers, or fail to do so in a cost-effective manner, we may be unable to increase net revenues, improve margins and achieve profitability.
The other 46 risks
  • We rely on other third parties to provide services essential to the success of our business.
  • Reduced consumer demand for alcoholic beverages could harm our business.
  • The success of our business relies heavily on brand image, reputation, and product quality.
  • Changes in consumer spending could have a negative impact on our financial condition and business results.
  • Our pursuit of opportunistic investments outside our core business has resulted in significant capital outlays, and similar future investments may result in losses.
  • We are pursuing a significant acquisition in a new line of business, which may expose us to substantial risks and uncertainties.
  • Adverse public opinion about alcohol may harm our business.
  • Increased regulatory costs or taxes would harm our financial performance.
  • Our business may be adversely affected by political, trade, and regulatory developments, including changes in tariffs and international trade policies.
  • Changes in the prices of supplies and raw materials could have a materially adverse effect on our business.
  • We are subject to risks associated with payments to us from our customers and other third parties, including risks associated with fraud.
  • We may not be able to fully exploit newly acquired brands.
  • Our proposed initial public offering of SWOL may not be completed and, if completed, would reduce our ownership interest and may result in a loss of control over SWOL.
  • We operate in highly competitive industries, and competitive pressures could have a material adverse effect on our business.
  • We are dependent on the continued services and performance of our senior management and other key employees, the loss of any of whom could adversely affect our business, operating results and financial condition.
  • We may not be able to manage future growth effectively.
  • If the Company fails to develop or protect its intellectual property adequately, the Company’s business could suffer.
  • The Company’s products, services or processes could be subject to claims of infringement of the intellectual property of others.
  • We are exposed to fluctuations in currency exchange rates that could negatively impact our financial results and cash flows.
  • A failure or breach of our security systems or infrastructure as a result of cyberattacks could disrupt our business, result in the disclosure or misuse of confidential or proprietary information, damage our reputation, increase our costs and cause losses.
  • Current market conditions and recessionary pressures in one or more of the Company’s markets could impact the Company’s ability to grow its business.
  • Risks Related to Government Regulation and Being a Public Company
  • We will face growing regulatory and compliance requirements which can be costly and time consuming.
  • Our business could be negatively impacted by changes in the U.S. political environment.
  • Failure to comply with data privacy and security laws and regulations could adversely affect our operating results and business.
  • Our business depends on our customers’ continued and unimpeded access to the Internet and the development and maintenance of Internet infrastructure. Internet access providers may be able to block, degrade or charge for access to certain of our services, which could lead to additional expenses and the loss of customers.
  • Our business could be affected by new governmental regulations regarding the Internet.
  • Changes in laws and government regulations to which we are currently subject, including changes to the method or approach of enforcement, may increase our costs or limit our ability to market our alcohol brands and the brands of our clients, which could adversely affect our operating results and business.
  • The requirements of being a public company may strain our resources.
  • If we fail to maintain an effective system of disclosure controls and internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • Our management team has limited experience managing a public company.
  • Industry and other market data used in this or other periodic reports that we have filed or will in the future file with the SEC, including those undertaken by us or our engaged consultants, may not prove to be representative of current and future market conditions or future results.
  • Adverse developments affecting the financial services industry, such as actual events or concerns involving liquidity, defaults, or non-performance by financial institutions or transactional counterparties, could adversely affect our current and projected business operations and our financial condition and results of operations.
  • Risks Related to Ownership of Our Common Stock
  • An active trading market for our shares may not be sustained.
  • Our stock price may be volatile, and purchasers of our common stock could incur substantial losses.
  • Certain recent initial public offerings of companies with relatively small public floats comparable to our anticipated public float have experienced extreme volatility that was seemingly unrelated to the underlying performance of the respective company. The trading price of our common stock has been and is likely to continue to be highly volatile and could be subject to wide fluctuations in response to various factors, some of which are beyond our control.
  • We are currently listed on The Nasdaq Capital Market. If we are unable to maintain listing of our securities on Nasdaq or any stock exchange, our stock price could be adversely affected and the liquidity of our stock and our ability to obtain financing could be impaired and it may be more difficult for our stockholders to sell their securities.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, the market price for the shares and trading volume could decline.
  • We have never paid cash dividends on our stock and do not intend to pay cash dividends for the foreseeable future.
  • Raising additional capital may cause dilution to our stockholders, or restrict our operations.
  • We may issue additional debt and equity securities, which are senior to our common stock as to distributions and in liquidation, which could materially adversely affect the market price of our common stock.
  • Enforcing legal liability against certain members of our Board and our senior management might be difficult.
  • We are subject to ongoing public reporting requirements that are less rigorous than Exchange Act rules for companies that are not emerging growth companies, and our stockholders could receive less information than they might expect to receive from more mature public companies.
  • 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.
  • As a “smaller reporting company,” we may choose to exempt our company from certain corporate governance requirements that could have an adverse effect on our public stockholders.
  • Future sales of substantial amounts of our common stock or securities convertible into or exchangeable or exercisable for shares of common stock, either by us or by our existing stockholders, or the possibility that such sales could occur, could adversely affect the market price of our common stock.
  • Our share buyback program that was approved by the Board in September 2023 could affect our stock price and increase its volatility, and may reduce the market liquidity for our stock. The share buyback program may also materially impact the Company’s liquidity.

Legal proceedings

From time to time, the Company may be involved in legal proceedings arising in the ordinary course of business. Except as described below, there are no material pending legal proceedings to which the Company or any of its subsidiaries is a party or to which any of their respective properties are subject.

The Company was previously involved in a civil action filed by Kingbird Ventures, LLC in the Eighth Judicial District Court, Clark County, Nevada (the “Kingbird Action”), in which the Company, together with certain current and former officers and directors, was named as a defendant. The complaint asserted claims including, among other things, breach of fiduciary duty and related allegations arising from certain corporate governance matters. On September 22, 2025, the Company and the other defendants entered into settlement agreements with Kingbird Ventures, LLC and related parties to resolve all claims asserted in the Kingbird Action. The settlement provides for mutual releases of claims among the parties and required aggregate cash payments of approximately $13 million by the Nevada defendants. An initial payment of $7.5 million was paid in September 2025, and the remaining balance of approximately $5.5 million was paid in December 2025, satisfying all payment obligations under the settlement. The settlement agreements expressly provide that the defendants did not admit any liability, wrongdoing, or fault. As a result of the settlement, the Kingbird Action has been fully resolved, and no claims arising from that matter remain pending against the Company or any of its current or former officers or directors.

The opening of Item 3, Legal Proceedings.3

Sources

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