UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 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 Number: 001-40524 SHF Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | 86-2409612 | | --- | --- | | (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ 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 Number: 001-40524 SHF Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation o ...

Financial Performance - The total revenue for the year ended December 31, 2022, was $9,478,819, representing a 35.30% increase from $7,005,579 in 2021[293]. - Loan interest income surged by 997.68% to $1,130,178 in 2022 from $102,961 in 2021[293]. - The investment income increased by 462.63% to $2,120,640 in 2022 from $376,918 in 2021, driven by higher interest rates[293]. - The Company reported a net loss of $35,128,083 for the year ended December 31, 2022, compared to a net income of $3,286,887 in 2021[278]. - Total operating expenses increased to $11,676,659 in 2022, up 214.00% from $3,718,692 in 2021[298]. - Cash provided by operations decreased to $1,697,380 in 2022 from $2,946,383 in 2021, primarily due to reduced net income[303]. Ownership and Business Combination - The Business Combination resulted in the acquisition of SHF for an aggregate of $185 million, consisting of $115 million in Class A common stock and $70 million in cash[258]. - PCCU holds a 60.8% ownership stake in the Company following the Business Combination, changing its status to majority shareholder[264]. - The deferred payment of $56,949,800 from the Business Combination will be paid in installments, including a total of $38,500,002 with interest[267]. Lending and Services - The Company generates interest and fee income through various services, including compliance and reporting for financial institutions servicing the cannabis industry[265]. - The Company offers competitive loan options to Cannabis Related Businesses (CRBs), with collateral types including real estate and equipment[252]. - The Company has established a proprietary platform to facilitate banking services for CRBs, addressing the limited availability of financial solutions in the cannabis industry[252]. - The Company serviced 11 loans in 2022, up from 4 loans in 2021, indicating a focus on expanding lending operations[296]. - The number of loans serviced by the company increased from 4 in 2021 to 11 in 2022, indicating growth in lending activities[300]. Expenses and Financial Management - The Company reported expenses of $775,259 for the year ended December 31, 2022, related to the Loan Servicing Agreement with PCCU[259]. - Compensation and employee benefits rose to $6,695,319, a 213.56% increase from $2,135,243 in 2021, driven by stock-based compensation and increased headcount[298]. - Provision for loan losses surged to $506,212, reflecting a 36,083.85% increase from $1,399 in 2021, as the company expanded lending activities[298]. - General and administrative expenses increased to $2,390,539, a 320.95% rise from $567,892 in 2021, with significant increases in account fees, advertising, and business insurance[301]. Cash and Working Capital - Cash and cash equivalents totaled $8,390,195 as of December 31, 2022, compared to $5,495,905 in 2021[302]. - The company reported a net working capital deficit of ($39,340,020) as of December 31, 2022, compared to a positive working capital of $5,922,023 in 2021[305]. Internal Controls and Compliance - The Company has identified four material weaknesses in internal controls over financial reporting as of December 31, 2022[332]. - The Company provides compliance, validation, and monitoring services to financial institutions, ensuring adherence to the Bank Secrecy Act and related regulations[253]. Going Concern and Risk Management - Management has identified substantial doubt about the company's ability to continue as a going concern for at least twelve months from the issuance of the financial statements[306]. - The company has implemented cost-cutting measures and renegotiated payables to mitigate going concern risks[307]. Stock and Derivative Transactions - NLIT entered into a Forward Purchase Agreement, resulting in the purchase of approximately 3.8 million shares of Class A common stock at market price[327]. - The fair value of the forward purchase derivative was estimated at approximately $4.6 million as of December 31, 2022, down from approximately $37.9 million at the end of September 2022[330]. - The trading value of common stock led to a lower reset price of $1.25/share under the forward purchase agreement[332]. - The Company recognized a $42.3 million charge to other expense on the statement of operations due to the reset price under the forward purchase agreement[332]. Shareholder Information - The Company has authorized the issuance of up to 130,000,000 shares of Class A Common Stock, with 20,815,912 shares issued as of December 31, 2022[273]. - As of December 31, 2022, there were 20,450 shares of preferred stock issued and outstanding, with no voting rights[329]. Agreements and Alliances - The Company entered into a Commercial Alliance Agreement with PCCU on March 29, 2023, superseding previous agreements related to lending and account services[266]. - The Loan Servicing Agreement stipulates a monthly servicing fee of 0.25% on the outstanding principal balance of loans funded by PCCU[340].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ Commission File Number: 001-40524 SHF Holdings, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporati ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ Commission File Number: 001-40524 Northern Lights Acquisition Corp. (Exact name of registrant as specified in its charter) Delaware 86-2409612 (State or oth ...

Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ Commission File Number: 001-40524 Northern Lights Acquisition Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40524 Northern Lights Acquisition Corp. (Exact name of registrant as specified in its charter) | Delaware | 86-2409612 | | --- | --- | ...

For the quarterly period ended September 30, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q Washington, D.C. 20549 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______to_______ Commission File Number: 001-40524 Northern Lights Acquisition Corp. (Exact name of registrant as specified in its charter) (State or other jurisdiction ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 Northern Lights Acquisition Corp. (Exact name of registrant as specified in its charter) Delaware 86-2409612 (State or other jurisdiction of incorporation or organization) 909 Bannock Street Denver, Colorado 80204 (Address of principal executive offices) (Zip Code) ☐ TRANSITION REPORT PURSUANT ...

FORM 10-Q [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______to______ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number: 001-40524 Washington, D.C. 20549 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 9 ...