Revenue Performance - Revenues for the three months ended March 31, 2025, were $7,056,116, an increase of $2,178,738 (approximately 44.7%) compared to $4,877,378 for the same period in 2024[138]. - Revenue for Q1 2025 was $7,056,116, up from $4,877,378 in Q1 2024, indicating a significant increase in sales[154]. Cost and Expenses - Cost of revenues for the three months ended March 31, 2025, was $3,131,622, an increase of $1,428,265 (approximately 83.8%) compared to $1,703,357 for the same period in 2024, resulting in a gross profit margin decrease to 56% from 65%[140]. - Research and development expenses increased to $606,237 for the three months ended March 31, 2025, up $216,348 (approximately 55.5%) from $389,889 in 2024, primarily due to the Kyber acquisition[141]. - Sales and marketing expenses rose to $1,382,727 for the three months ended March 31, 2025, an increase of $327,586 (approximately 31%) compared to $1,055,141 in 2024, driven by the Kyber acquisition and higher compensation expenses[142]. - General and administrative expenses slightly decreased to $3,279,094 for the three months ended March 31, 2025, down $4,395 (approximately 0.1%) from $3,283,489 in 2024[143]. Operating Performance - The operating loss for the three months ended March 31, 2025, was $1,394,665, an improvement compared to an operating loss of $1,772,350 for the same period in 2024[138]. - Adjusted EBITDA for Q1 2025 was $(50,778), a decrease of $155,195 compared to $104,417 in Q1 2024, primarily due to higher costs of revenues and operating expenses[155]. - Adjusted EBITDA is used by management as a performance measure, excluding items such as depreciation, stock-based compensation, and interest expenses, to provide a clearer view of operational performance[146]. Cash Flow and Financial Position - Net cash provided by operating activities increased to $448,180 in Q1 2025, a rise of $2,656,250 compared to cash used of $(2,208,070) in Q1 2024[159]. - Net cash provided by investing activities was $838,125 in Q1 2025, an increase of $2,612,550 compared to $(1,774,425) in Q1 2024[160]. - As of March 31, 2025, the company's cash and marketable securities totaled $35,666,432, with outstanding principal and accrued interest on notes amounting to $6,750,326[156]. - The company sold BioTrack for $30,000,000, consisting of $20,000,000 in cash at closing and $10,000,000 in future payments, enhancing liquidity[156]. - Net cash used in financing activities decreased to $172,295 in Q1 2025, down by $859,068 from $(1,031,363) in Q1 2024, primarily due to changes in tax payments[161]. - The company expects to fund future operations and acquisitions through a combination of cash flow, available cash, marketable securities, and debt financing[156]. - The company redeemed $18,881,466 in outstanding principal and interest on its notes during 2024, improving its financial position[156]. Strategic Initiatives - The company acquired all outstanding equity interests of Kyber Data Science, LLC on October 31, 2024, which is expected to enhance its data management capabilities[128]. - The company plans to license data from additional vendors due to a vendor exiting the data licensing business by the end of 2026, which may impact future operations[132]. - The company continues to focus on expanding its marketing and sales efforts to build brand awareness and attract new clients[134]. Accounting and Compliance - The company is currently evaluating the impact of new accounting standards on its consolidated financial statements and disclosures[173].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ 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 001-42425 AIFEEX NEXUS ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or o ...

☐ 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 Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 Commission File Number 001-42425 AIFEEX NEXUS ACQUISITION CORPORATION (Exact name of registrant as specified in its charter) Cayman Islands N/A (State or o ...

Financial Performance - Revenues for Q1 2025 were $5,879,000, a decrease of 55.4% compared to $13,162,000 in Q1 2024[24]. - Gross profit for Q1 2025 was $1,211,000, down 56.5% from $2,788,000 in Q1 2024[24]. - Net loss for Q1 2025 was $10,186,000, compared to a net loss of $11,003,000 in Q1 2024, representing a 7.4% improvement[24]. - Operating expenses for Q1 2025 totaled $10,480,000, down 19.5% from $13,031,000 in Q1 2024[24]. - The company reported a basic net loss per share of $1.26 for Q1 2025, an improvement from $1.80 in Q1 2024[24]. - Total revenues for the three months ended March 31, 2025, were $5,879,000, a decrease of 55% compared to $13,162,000 for the same period in 2024[69]. - Vehicle sales accounted for $3,600,000 (61% of total revenue) in Q1 2025, down from $11,600,000 (88% of total revenue) in Q1 2024, reflecting a significant decline in deliveries[162]. - The company delivered 22 vehicles in Q1 2025, compared to 60 vehicles in Q1 2024, primarily due to delays in executing sales orders[162]. - The net loss for Q1 2025 was $10.2 million, compared to a net loss of $11.0 million in Q1 2024, reflecting a decrease of $0.8 million or 7%[189]. - Revenues decreased by $7.3 million, or 55%, from $13.2 million in Q1 2024 to $5.9 million in Q1 2025, primarily due to a decrease in unit sales and average selling price[190]. Assets and Liabilities - Total current assets decreased to $73,089,000 as of March 31, 2025, from $82,301,000 as of December 31, 2024, a decline of 11.1%[21]. - Total liabilities decreased to $62,874,000 as of March 31, 2025, from $64,723,000 as of December 31, 2024, a reduction of 2.6%[21]. - Cash and cash equivalents at the end of Q1 2025 were $4,758,000, down from $10,996,000 at the end of Q4 2024, a decrease of 56.7%[21]. - As of March 31, 2025, accounts receivable totaled $22.2 million, net of an allowance of $0.3 million[61]. - Inventory as of March 31, 2025, was $38,006,000, an increase from $36,567,000 as of December 31, 2024[81]. - Other current liabilities increased to $18,878,000 as of March 31, 2025, compared to $17,768,000 as of December 31, 2024[88]. - As of March 31, 2025, total other non-current liabilities amounted to $17.325 million, a decrease from $17.933 million as of December 31, 2024, reflecting a reduction of approximately 3.4%[91]. Cash Flow - The Company reported negative cash flow from operating activities of $4.8 million for the three months ended March 31, 2025, compared to $14.6 million for the same period in 2024[42]. - The net cash used in operating activities was $4.8 million for Q1 2025, compared to $14.6 million for Q1 2024[209]. - Net cash provided by investing activities was $0 for Q1 2025, down from $51.3 million in Q1 2024 due to the acquisition of ElectraMeccanica[213]. - Net cash used in financing activities was $1.5 million for Q1 2025, primarily related to short-term insurance financing and equipment lease principal payments[214]. Acquisitions and Investments - The Company acquired ElectraMeccanica Vehicles Corp. on March 26, 2024, converting each ElectraMeccanica Share into 0.0143739 of a share of the Company's Common Stock, totaling 1,766,388 shares[36]. - As of March 31, 2025, the Company's cash and cash equivalents totaled $4.8 million, reflecting the acquisition of ElectraMeccanica[42]. - The total identifiable assets acquired from ElectraMeccanica amounted to $54,630,000, while total liabilities assumed were $19,042,000, resulting in net assets acquired of $35,588,000[73]. - The acquisition of ElectraMeccanica on March 26, 2024, involved the issuance of 1,766,388 shares of Xos Common Stock, resulting in Xos stockholders owning approximately 79% of the combined entity[72]. Operational Challenges - The Company is experiencing ongoing supply chain disruptions, particularly in power electronics and harnesses, impacting its ability to source inventory[49]. - The Company has significant reliance on single-source suppliers, which poses a risk to its operations and financial condition[62]. - The company is subject to ongoing supply chain disruptions and is actively working with vendors to find alternative solutions[173]. - The company is continuing efforts to find more cost-effective vendors and sources of parts to lower overall production costs[183]. Future Outlook and Strategies - The company is focused on expanding its fleet electrification solutions and charging infrastructure to support electric vehicle fleets[33]. - The company expects future revenue growth to be supported by the increasing demand for e-commerce and last-mile delivery solutions, influenced by regulatory and consumer interest in sustainability[163][164]. - The company plans to raise additional capital through various strategies, including debt financing and equity financing, to support its operations[44]. - The company plans to continue seeking opportunities to reduce costs and cash expenditures to address liquidity and working capital needs[167]. Stock and Equity - The Company issued a convertible promissory note with a principal amount of $20.0 million, maturing on August 11, 2025, bearing an interest rate of 10.0% per annum[97][98]. - The Company entered into a Standby Equity Purchase Agreement allowing it to sell up to $125.0 million of Common Stock until February 11, 2026, with $119.4 million remaining available under the agreement as of March 31, 2025[108][113]. - The Company has a contingent obligation to issue 547,000 shares of Common Stock upon achieving certain market share price milestones, with specific tranches based on the volume-weighted average closing share price[92]. - As of March 31, 2025, the Company had 18,633,301 Public Warrants and 199,997 Private Placement Warrants outstanding, with fair values of $0.2 million and $2,000, respectively[114]. Tax and Compliance - The Company recognized stock-based compensation expense totaling approximately $1.5 million for the three months ended March 31, 2025, compared to $2.0 million for the same period in 2024[132]. - The Company's effective tax rate for the three months ended March 31, 2025, was (0.12)%, lower than the statutory tax rate of 21% due to state taxes and losses not benefited[140]. - The Company reported a net asset position in deferred income taxes at March 31, 2025, primarily due to deferred tax assets from net operating losses[143]. - The company is evaluating the impact of new accounting standards effective after December 15, 2024, which will require additional income tax disclosures[67].

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, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . SOTHERLY HOTELS INC. (Exact name of registrant as specified in its charter) MARYLAND 001-32379 20-1531029 (State or Other Jurisdiction of Incorporation or Organizat ...

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, 2025 OR ☐ TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 From the transition period from to Commission File Number 001-37853 ENTERO THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 46-4993860 (State o ...

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, 2025 OR ☐ TRANSITION REPORT UNDER SECTION 13 OF 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 From the transition period from to Commission File Number 001-37853 ENTERO THERAPEUTICS, INC. (Exact name of registrant as specified in its charter) Delaware 46-4993860 (State o ...

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, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Securities registered pursuant to Section 12(b) of the Act: Commission file number: 001-41183 Welsbach Technology Metals Acquisition Corp. (Exact name of regi ...

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, 2025 ☐ 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: 001-41183 Welsbach Technology Metals Acquisition Corp. (Exact name of registrant as specified in its charter) Delaware 87-1006702 (Sta ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 333-283142 MASTERBEEF GROUP (Ex ...