UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______ to______ Commission File No. 001-40906 ACHARI VENTURES HOLDINGS CORP. I (Exact name of registrant as specified in its charter) | --- | --- | |----------- ...

A significant milestone for Vaso's Listing on NASDAQ Vaso Stockholders Meeting Scheduled for August 26, 2024 to Approve Business Combination with Achari PLAINVIEW, N.Y., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Vaso Corporation ("Vaso" or the "Company") (OTCQX:VASO) announced that on August 5, 2024, the U.S. Securities and Exchange Commission ("SEC") declared effective the Achari Ventures Holdings Corp. I ("Achari") (NASDAQ:AVHI) Registration Statement on Form S-4, as amended (the "Registration Statement"), filed ...

NEW YORK, July 16, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the “M&A Class Action Firm”), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Achari Ventures Holdings Corp. (OTC: AVHI), relating to its proposed merger/business combination with Vaso Corporation, as to whether the merger is fair to Achari Ventures stockholders. C ...

Core Viewpoint - Monteverde & Associates PC is investigating the proposed merger between Achari Ventures Holdings Corp. and Vaso Corporation to determine its fairness to Achari Ventures stockholders [1] Group 1: Company Overview - Monteverde & Associates PC is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report [1] - The firm is headquartered in the Empire State Building, New York City [1] - Monteverde & Associates PC has a successful track record in recovering money for shareholders through litigation [1] Group 2: Legal Investigation - The firm is currently investigating Achari Ventures Holdings Corp. (OTC: AVHI) regarding its merger with Vaso Corporation [1] - The investigation aims to assess whether the merger is fair to Achari Ventures stockholders [1] Group 3: Contact Information - For concerns or additional information, shareholders can contact Juan Monteverde, Esq. via email or telephone [2] - The firm emphasizes that no company, director, or officer is above the law [2]

Business Combination - Achari Ventures Holdings Corp. I entered into a business combination agreement with Vaso Corporation, anticipated to close in Q2 2024, with a valuation of $176 million [123][126]. - Each Vaso Share will convert into Achari Shares based on an exchange ratio calculated from the total valuation and fully-diluted shares of Vaso [126]. - The Vaso Business Combination Agreement has been approved by the boards of directors of Achari, Vaso, and Merger Sub [124]. - The Vaso Business Combination is subject to various closing conditions, including stockholder approval and regulatory compliance [128]. - Support agreements have been signed by security holders representing 44% of Vaso's outstanding shares, committing to vote in favor of the business combination [139]. - The company has the option to extend the deadline for consummating its initial Business Combination by an additional six months, now set to January 19, 2024 [149]. - The Company was granted an extension until April 2, 2024, to complete the Vaso Business Combination, which is necessary for regaining compliance with Nasdaq's initial listing requirements [160]. Financial Performance - The company has not generated any operating revenues to date and does not expect to until after completing an initial Business Combination [140]. - For the three months ended March 31, 2024, the company reported a net loss of $530,117, a decrease from a net loss of $946,841 for the same period in 2023, representing a 44% improvement year-over-year [141]. - General and administrative expenses for Q1 2024 were $508,544, down from $925,964 in Q1 2023, indicating a 45% reduction [141]. - As of March 31, 2024, the company had $6,194,997 in the Trust Account, intended for the completion of the initial Business Combination [144]. - The company had cash of $10,524 outside the Trust Account as of March 31, 2024, to fund operational activities related to identifying target businesses [145]. - The company completed its Initial Public Offering on October 19, 2021, raising gross proceeds of $100,000,000 from the sale of 10,000,000 units at $10.00 per unit [142]. - The company anticipates generating non-operating income from interest on proceeds held in a U.S.-based trust account [140]. - The Sponsor will forfeit certain Achari Shares and warrants, retaining 750,000 Achari Shares and 1,000,000 private placement warrants post-combination [132]. - The Company has deferred underwriting commissions of $3.5 million that will be payable only upon the completion of an initial Business Combination [163]. Compliance and Regulatory Issues - The company is currently appealing a delisting determination from Nasdaq, with trading now occurring only on the OTC Markets system [154]. - The Company received a letter from Nasdaq on January 22, 2023, indicating non-compliance with Listing Rule 5450(b)(2)(B) due to having less than 1,100,000 publicly held shares, and was granted an extension until July 21, 2023, to regain compliance [155]. - On August 7, 2023, the Company regained compliance with Listing Rule 5450(b)(2)(B) after transferring certain Founder Shares [155]. - The Company was notified on February 24, 2023, of non-compliance with Listing Rule 5450(b)(2)(C) due to a market value of publicly held shares below $15 million, but regained compliance by August 7, 2023 [156]. - The Company faced non-compliance with Listing Rule 5250(c)(1) for delays in filing its Form 10-K and Form 10-Q, but regained compliance shortly after filing on April 25, 2023, and June 1, 2023, respectively [157]. - On March 23, 2023, the Company was notified of non-compliance with the $50 million Market Value of Listed Securities requirement, and received a delisting determination letter on October 3, 2023 [159]. Internal Controls and Risk Management - As of March 31, 2024, the company identified a material weakness in internal controls over financial reporting related to accounting and valuation for complex financial instruments and EPS disclosure [173]. - Management is dedicating significant resources to remediate internal control weaknesses and enhance processes for applying accounting standards [174]. - The company plans to improve access to accounting literature and increase communication with third-party professionals regarding complex accounting applications [174]. - There have been no changes in internal control over financial reporting that materially affected the company's internal controls during the most recently completed fiscal quarter [176]. - The company acknowledges that disclosure controls and procedures can only provide reasonable assurance, not absolute assurance, against errors and fraud [175]. - No legal proceedings are currently pending against the company [178]. - There have been no material changes to the risk factors disclosed in the company's Annual Report or other SEC filings as of the date of this Quarterly Report [178]. Financial Position - As of March 31, 2024, the company had no borrowings under Working Capital Loans, indicating a stable financial position [146]. - The Company has no off-balance sheet arrangements or long-term debt obligations as of March 31, 2024 [161]. - The Company is classified as an "emerging growth company," allowing it to take advantage of certain exemptions from reporting requirements [164]. - The Company accounts for warrants based on their specific terms, with Public Warrants qualifying for equity treatment and Private Placement Warrants for liability treatment [171].

Business Combination Requirements - Achari must complete its initial Business Combination by July 19, 2024, or it will cease operations and redeem public shares at $10.15 each[115]. - Achari's compliance with Nasdaq's initial listing requirements post-Vaso Business Combination is critical and more rigorous than continued listing requirements[122]. - Achari must meet Nasdaq's initial listing requirements, including a stock price of at least $4.00 per share and stockholders' equity of at least $5.0 million[131]. - The company is required to complete the proposed Vaso Business Combination by July 19, 2024, or face liquidation[252]. - If the Vaso Business Combination is not completed, public shareholders will receive a cash redemption at a per-share price based on the amount in the Trust Account, minus up to $100,000 for dissolution expenses[253]. - The company intends to complete its initial Business Combination by acquiring a target business that may be complex and require significant operational improvements[297]. Compliance and Listing Issues - Achari has regained compliance with Nasdaq's Listing Rule 5450(b)(2)(B) regarding publicly held shares, which requires at least 1,100,000 shares[125]. - Achari has been granted an extension until April 2, 2024, to cure deficiencies related to Nasdaq's continued listing requirements, including the Market Value of Listed Securities[129]. - Achari's securities may face delisting if compliance with Nasdaq's standards is not achieved, impacting liquidity and trading price[122]. - Failure to meet Nasdaq's initial listing requirements may lead to delisting, negatively impacting the price and liquidity of Achari's securities[133]. - Nasdaq granted an extension until April 2, 2024, for Achari to cure existing continued listing deficiencies[132]. Financial Risks and Shareholder Concerns - If Achari fails to complete the initial Business Combination, public stockholders may receive less than $10.15 per share upon redemption[114]. - Stockholders' ability to redeem shares for cash may limit Achari's financial condition attractiveness to potential business combination targets[144]. - The proceeds held in the Trust Account could be reduced, leading to a per-share redemption amount of less than $10.15 for stockholders[182]. - If the Trust Account funds are reduced below $10.15 per share, stockholders may receive a lesser amount upon redemption[186]. - The company may incur substantial debt to complete an initial Business Combination, which could negatively impact financial condition and stockholder value[236]. - Stockholders may receive less than $10.15 per share upon liquidation under certain circumstances[222]. Conflicts of Interest - The Sponsor acquired Founder Shares for $25,000, approximately $0.009 per share, potentially incentivizing riskier business combinations[139]. - Initial stockholders may exert substantial influence on actions requiring a stockholder vote, potentially against the interests of other stockholders[222]. - The company may face conflicts of interest as key personnel negotiate employment agreements with the target business during the Business Combination process[276]. - The company has not adopted a policy prohibiting directors, officers, or affiliates from having financial interests in transactions, which may lead to conflicts of interest[292]. - The unexpected loss of key personnel could adversely affect the Company's operations and ability to complete the initial Business Combination[283]. Market and Economic Conditions - The ongoing COVID-19 pandemic and global events may adversely affect Achari's search for a Business Combination[159]. - The COVID-19 pandemic and global events, such as Russia's invasion of Ukraine, have adversely affected economies and financial markets, potentially impacting the business combination process[160]. - The increased number of SPACs seeking targets may lead to higher costs and challenges in finding attractive acquisition opportunities[174]. - The market for directors and officers liability insurance has become less favorable, with fewer insurance companies offering coverage and increased premiums, complicating the negotiation of initial business combinations[162]. Operational and Regulatory Risks - The company may face additional risks and costs if attempting to complete multiple Business Combinations simultaneously[241]. - The company may not have sufficient resources to protect against cyber incidents, which could lead to financial losses[247]. - The review process by CFIUS could delay the initial Business Combination, potentially leading to liquidation if not completed by July 19, 2024[235]. - The company may face complexities and uncertainties regarding tax obligations as a result of the initial Business Combination, which could adversely affect after-tax profitability[248]. - The company may not be able to uncover all material issues during due diligence, leading to potential write-offs or impairments post-acquisition[181]. Shareholder Rights and Protections - Stockholders may not have protections typically afforded to investors in blank check companies, as the company is exempt from certain SEC rules[170]. - The company is not required to obtain a fairness opinion, which may leave stockholders without assurance that the transaction price is fair[205]. - The absence of a specified maximum redemption threshold may allow the company to complete a Business Combination even if a majority of stockholders disagree[210]. - The company has agreed not to issue additional shares that would entitle holders to receive funds from the Trust Account prior to the initial Business Combination[306]. Trust Account and Redemption Issues - The company may face claims from third parties against the Trust Account, which could affect the funds available for initial Business Combination and redemptions[184]. - Funds in the Trust Account could potentially bear a negative interest rate, reducing per-share redemption amount below $10.15[309]. - The allocation of purchase price between public shares and redeemable warrants could be challenged by the IRS[308]. - The company may face adverse tax consequences if determined to be a personal holding company for U.S. federal income tax purposes[308].

Financial Performance - For the three months ended September 30, 2023, the company reported a net loss of $688,427, primarily due to operating expenses of $581,054 and a change in fair value of warrant liabilities of $142,667 [98]. - For the nine months ended September 30, 2023, the company had a net loss of $2,179,935, with operating expenses totaling $2,257,753, including legal and professional charges of $1,836,206 related to De-SPAC activities [98]. - The company has not generated any operating revenues to date and does not expect to do so until after completing a Business Combination [97]. Cash and Securities - As of September 30, 2023, the company had cash and marketable securities held in the Trust Account amounting to $6,860,609, intended for use in completing a Business Combination [102]. - As of September 30, 2023, the company had cash of $18,810 outside the Trust Account, primarily for identifying and evaluating target businesses [103]. - A deposit of $31,916 was made into the Trust Account on October 19, 2023, bringing the total in the Trust Account to approximately $6,892,525 [112]. Initial Public Offering - The company completed its Initial Public Offering on October 19, 2021, raising gross proceeds of $100,000,000 from the sale of 10,000,000 units [100]. - The company incurred offering costs of $6,101,730 related to the Initial Public Offering, which included $2,000,000 in underwriting fees [101]. Nasdaq Compliance - The company has received letters from Nasdaq regarding compliance with continued listing requirements, with a notification on August 7, 2023, confirming regained compliance [115]. - The Company regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Annual Report on Form 10-K for the year ended December 31, 2022 [116]. - The Company also regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Quarterly Report on Form 10-Q for the quarter ended March 31, 2023 [117]. - The Company regained compliance with Nasdaq Listing Rule 5450(b)(2)(B) after addressing the issue of not maintaining 1,100,000 publicly held shares [118]. - As of October 3, 2023, the Company's Market Value of Listed Securities (MVLS) was below the $50,000,000 minimum requirement for 30 consecutive trading days, leading to a delist determination [119]. - The Company has requested a hearing scheduled for December 7, 2023, to present its plan of compliance regarding Nasdaq listing standards [120]. Internal Controls and Debt - The Company reported having no off-balance sheet arrangements as of September 30, 2023 [121]. - The Company has no long-term debt or capital lease obligations, with deferred underwriting commissions of $3,500,000 contingent upon completing a Business Combination [123]. - The Company is classified as an "emerging growth company," allowing it to take advantage of certain reporting exemptions [124]. - As of September 30, 2023, the Company had a material weakness in internal controls over financial reporting related to accounting for complex financial instruments [132]. - There were no changes in internal controls over financial reporting that materially affected the Company during the most recently completed fiscal quarter [134]. Business Combination - The company exercised a Monthly Extension Option on October 16, 2023, extending the time to consummate a Business Combination to November 19, 2023 [111].

Financial Performance - For the three months ended June 30, 2023, the company reported a net loss of $544,667, primarily due to operating expenses of $750,735[106]. - For the six months ended June 30, 2023, the company had a net loss of $1,491,508, with operating expenses totaling $1,676,699[107]. - As of June 30, 2023, the Company reported no dilutive securities, resulting in diluted loss per share being the same as basic loss per share[130]. Initial Public Offering - The company generated gross proceeds of $100,000,000 from its Initial Public Offering of 10,000,000 units at $10.00 per unit[109]. - The company incurred offering costs of $6,101,730 related to the Initial Public Offering, including $2,000,000 in underwriting fees[110]. Trust Account and Cash Position - As of June 30, 2023, the company had cash and marketable securities in the Trust Account amounting to $10,959,523[111]. - Following a shareholder redemption, the Trust Account balance was approximately $6,703,560.84 after redeeming 381,144 shares at an approximate price of $10.50 per share[117]. - The company intends to use funds in the Trust Account primarily to complete a Business Combination and for working capital of the target business[111]. Debt and Compliance - The company has no long-term debt or off-balance sheet arrangements as of June 30, 2023[123]. - The company has no borrowings under Working Capital Loans as of June 30, 2023[113]. - The company has received letters from Nasdaq regarding compliance with listing requirements, but regained compliance under Listing Rule 5450(b)(2)(C) as of August 7, 2023[119]. Company Classification and Accounting - The Company is classified as an "emerging growth company," allowing it to take advantage of certain exemptions from various reporting requirements[125]. - The Company has elected to delay the adoption of new or revised accounting standards, which may result in its financial statements being less comparable to those of non-emerging growth companies[126]. - Common Stock subject to possible redemption is classified as temporary equity, and its carrying value is adjusted to equal the redemption value at the end of each reporting period[129]. - Public Warrants qualify for equity accounting treatment, while Private Placement Warrants are classified as liabilities[131].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-40906 ACHARI VENTURES HOLDINGS CORP. I (Exact name of registrant as specified in its charter) Delaware 86-1671207 (S ...

Table of Contents Title of each className of each exchange on which registered Units, each consisting of one share of Common Stock and one Warrant to acquire three-quarters of one share of Common Stock THE NASDAQ STOCK MARKET LLC Common Stock, par value $0.0001 per share THE NASDAQ STOCK MARKET LLC Warrants THE NASDAQ STOCK MARKET LLC UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For th ...