Store Operations - As of November 1, 2025, the company operated 306 stores across 35 states, down from 325 stores the previous year, reflecting a decrease of 5.8% in store count[84][96] - The company experienced a 1.0% decrease in store units during the 13-week period ended November 1, 2025, with three store closures[96] - The average square footage per store increased slightly to 8,134 square feet as of November 1, 2025, compared to 8,109 square feet the previous year[96] Financial Performance - The company reported a net sales decline of 4.1% for the 39-week period ended November 1, 2025, compared to the same period in the previous year[96] - Net sales decreased 9.6% to $103.5 million for the third 13 weeks of fiscal 2025 compared to $114.4 million for the prior year period[1] - For the first 39 weeks of fiscal 2025, net sales decreased 10.8% to $260.8 million compared to $292.5 million for the prior year period[7] - Comparable sales decreased 7.4%, or $8.3 million, with store comparable sales increasing 1.7% while e-commerce comparable sales decreased 34.6%[1] Profitability and Loss - Gross profit as a percentage of net sales decreased 770 basis points from 28.1% to 20.4% in the same period, primarily due to unfavorable merchandise margin and increased store occupancy costs[2] - Net loss for the third 13 weeks of fiscal 2025 was $3.7 million, or a loss of $0.16 per diluted share, compared to a net loss of $7.7 million, or a loss of $0.59 per diluted share, in the prior year[5] - Gross profit margin for the first 39 weeks of fiscal 2025 decreased 570 basis points to 20.6%, mainly due to increased promotional activity[8] - The operating loss for the 39-week period ended November 1, 2025, was $31.253 million, compared to $23.223 million for the same period in 2024[121] Expenses and Cost Management - Operating expenses are a significant component of performance, with compensation and benefits comprising the majority of these costs[95] - Compensation and benefits as a percentage of net sales increased from 19.6% to 21.1% in the first 39 weeks of fiscal 2025[9] - Other operating expenses increased to 14.6% of net sales, primarily due to increased insurance costs related to a tornado[10] - The company implemented cost-saving initiatives, including reductions in corporate overhead, store payroll, and marketing expenses, to improve liquidity[126] Strategic Partnerships and Initiatives - The company entered into a strategic partnership with Bed Bath & Beyond, involving a $17.0 million term loan and an $8.0 million subscription agreement to support growth initiatives[85][86] - The company plans to close the proposed merger with Bed Bath & Beyond in the first quarter of fiscal 2026, pending shareholder and regulatory approvals[87] - The company entered into a partnership with Beyond, which included a $25 million investment through a combined debt and equity transaction[126] - The company has exclusive rights to operate small format stores under Bed Bath & Beyond trademarks, enhancing its market presence[85] Cash Flow and Liquidity - Net cash used in operating activities decreased to approximately $36.0 million in the first 39 weeks of fiscal 2025 from $39.0 million in the same period of fiscal 2024, primarily due to a $30.1 million reduction in inventory increase[132] - Cash flows from investing activities included $10.0 million from the sale of the Kirkland's brand name to Beyond, with total capital expenditures rising to $1.9 million in fiscal 2025 from $1.7 million in fiscal 2024[133] - Net cash provided by financing activities was $30.5 million in the first 39 weeks of fiscal 2025, compared to approximately $43.6 million in the same period of fiscal 2024, reflecting changes in borrowings and repayments[134] - The company has $20 million available under the Beyond Delayed Draw Term Loan Commitments as of December 15, 2025[131] Debt and Financial Position - The company has outstanding debt of $20.7 million and $5.8 million in outstanding letters of credit under its revolving credit facility as of December 15, 2025[130] - Borrowings on the revolving credit facility increased by $18.6 million in fiscal 2025, indicating a shift in financing strategy[134] - The company recognized a gain of $10 million from the sale of internally developed intangible assets during the 39-week period ended November 1, 2025[121] Risk Management - The company is focusing on improving its liquidity and capital resources amid challenging macroeconomic conditions, including inflation and high interest rates[89] - The company is exposed to interest rate changes due to borrowings under long-term debt agreements, which bear interest based on variable rates[138] - The company did not engage in any foreign exchange contracts or financial instruments as of November 1, 2025, indicating a conservative approach to market risk management[139] Other Notable Events - The company incurred $2.0 million in expenses related to damages from a tornado that impacted its Jackson, Tennessee distribution center[91] - The company incurred tornado-related costs, including write-offs of damaged inventory and expenses for repairs, impacting its financial results[124] - There were no material changes to critical accounting policies or estimates during the 39-week periods ended November 1, 2025[136] - As of February 1, 2025, the company was in compliance with financial covenants but faced substantial doubt about its ability to continue as a going concern for at least 12 months[127]

Financial Performance - Net sales for Q3 2025 were $103.5 million, a decrease of 9.3% from $114.4 million in Q3 2024, driven by a 7.4% decline in consolidated comparable sales and a 6% reduction in store count[3] - Gross profit was $21.1 million, representing 20.4% of net sales, down from $32.1 million or 28.1% of net sales in the prior year quarter, primarily due to a decline in merchandise margin and increased occupancy costs[3] - The net loss for Q3 2025 was $3.7 million, or a loss of $0.16 per diluted share, an improvement from a net loss of $7.7 million, or a loss of $0.59 per diluted share in Q3 2024[6] - Adjusted net loss for Q3 2025 was $13.6 million, or an adjusted loss of $0.61 per diluted share, compared to an adjusted net loss of $3.8 million, or an adjusted loss of $0.29 per diluted share in the prior year[6] - Net loss for the 39-week period ended November 1, 2025, was $35,708 thousand, compared to a net loss of $31,014 thousand for the same period in 2024, representing an increase of 15%[14] - Adjusted EBITDA for the 39-week period ended November 1, 2025, was $(32,135) thousand, worsening from $(14,250) thousand in the same period of 2024[19] - The net loss for the 13-week period ended November 1, 2025, was $3,705,000, a decrease of 51.7% compared to $7,680,000 in the same period of 2024[20] - The adjusted net loss for the 39-week period ended November 1, 2025, was $42,724,000, compared to $26,159,000 in the prior year, reflecting a 63.5% increase[20] - The diluted loss per share for the 39-week period ended November 1, 2025, was $1.60, compared to $2.38 in the same period of 2024, indicating a 32.8% improvement[20] Expenses and Liabilities - Operating expenses decreased to $23.1 million, or 22.3% of net sales, compared to $34.5 million, or 30.2% of net sales in the prior year, attributed to reduced marketing spend and lower self-insured employee benefits costs[6] - Total liabilities rose to $273,270 thousand in November 2025 from $261,205 thousand in November 2024, an increase of 5%[13] - Total current liabilities decreased to $113,645 thousand in November 2025 from $152,672 thousand in November 2024, a decline of 26%[13] - Operating lease liabilities decreased to $77,589 thousand in November 2025 from $95,085 thousand in November 2024, a reduction of 18%[13] - Stock-based compensation expense for the 39-week period ended November 1, 2025, was $323,000, a decrease of 60.1% from $809,000 in the same period of 2024[20] Inventory and Assets - As of November 1, 2025, inventory was $88.9 million, down from $111.2 million as of November 2, 2024[6] - Total current assets decreased to $105,827 thousand in November 2025 from $124,469 thousand in November 2024, a decline of 15%[13] - Cash and cash equivalents increased to $6,457 thousand at the end of the period from $3,820 thousand at the beginning, marking a net increase of 69%[14] Mergers and Strategic Initiatives - The pending merger with Bed Bath & Beyond is expected to create a powerful omnichannel platform and unlock operational and financial synergies[2] - The company closed three Kirkland's Home stores and converted three stores to Bed Bath & Beyond Home stores, ending the quarter with 303 Kirkland's Home stores and 3 Bed Bath & Beyond Home stores[6] Debt and Financing - As of December 15, 2025, the company had $20.7 million of outstanding debt and $5.8 million in outstanding letters of credit under its revolving credit facility[6] - The company anticipates that availability under its revolving credit facility will increase as eligible inventory levels rise in the second and third fiscal quarters[6] - Borrowings on revolving line of credit significantly increased to $220,533 thousand in the 39-week period ended November 1, 2025, compared to $40,100 thousand in the same period of 2024[14] Gains and Other Income - The company reported a gain of $10,000 thousand from the sale of internally developed intangible assets during the 39-week period ended November 1, 2025[14] - The company recognized a gain of $10,000,000 from the sale of internally developed intangible assets during the 13-week period ended November 1, 2025[20] Other Expenses - The company incurred tornado-related expenses of $1,974,000 during the 39-week period ended November 1, 2025, due to damage at its distribution center[21] - The loss on extinguishment of debt for the 13-week period ended November 1, 2025, included a $2.6 million prepayment penalty[21]

Financial Performance - Net loss reduced to $10.1 million compared to a net loss of $28.2 million in the prior year Third Quarter[6] - Adjusted EBITDA increased by $5.5 million from the prior year to -$0.7 million[6] - Net sales decreased by $12.2 million, or 9.6%, to $114.9 million compared to $127.1 million in the prior year[8] - Direct-to-consumer net sales decreased by 15.5% to $67.4 million due to lower traffic[8] - Gross profit for the nine months ended November 2, 2025, was $187.220 million, down from $202.031 million in the same period of 2024, reflecting a decrease of 7.3%[30] - The company reported a net loss of $10.101 million for the three months ended November 2, 2025, compared to a net loss of $28.231 million for the same period in 2024[30] - Adjusted EBITDA for the nine months ended November 2, 2025, was $7.468 million, compared to $6.084 million for the same period in 2024, showing an increase of 22.8%[34] Sales and Revenue Guidance - Affirming the higher end of fiscal 2025 Adjusted EBITDA guidance range of $23 million to $25 million[13] - Updating net sales guidance to a range of $555 million to $565 million[13] Expenses and Costs - Selling, general and administrative expenses decreased by $11.6 million, or 14.1%, to $70.7 million[10] - Gross margin increased to 53.8% of net sales, up from 52.3% in the prior year, despite a $3.0 million tariff impact[9] - The company incurred interest expense of $4.181 million for the nine months ended November 2, 2025, compared to $3.232 million for the same period in 2024, reflecting an increase of 29.3%[30] Assets and Liabilities - Total current assets increased to $228.746 million as of November 2, 2025, from $191.631 million as of February 2, 2025, representing a growth of 19.4%[27] - Total liabilities rose to $310.322 million as of November 2, 2025, compared to $272.763 million as of February 2, 2025, indicating an increase of 13.8%[27] Cash Flow and Liquidity - Cash and cash equivalents of $8.2 million with net liquidity of $88.6 million[11] - Cash and cash equivalents at the end of the period were $8.172 million, a decrease from $9.335 million at the end of the previous period[32] - The company experienced a net cash used in operating activities of $31.115 million for the nine months ended November 2, 2025, compared to $58.125 million for the same period in 2024[32] Inventory - Inventory down $39.2 million or 17.0% compared to last year[6] Shareholder Information - The weighted average shares of common stock outstanding increased to 34.517 million for the three months ended November 2, 2025, from 33.448 million for the same period in 2024[30]

MONROE TOWNSHIP, N.J., December 15, 2025 (GLOBE NEWSWIRE) – Ocean Power Technologies, Inc. ("OPT" or "the Company") (NYSE American: OPTT), today announced financial results for its fiscal second quarter ("2Q26") ended October 31, 2025. Highlights include: 2Q26 RESULTS and RECENT HIGHLIGHTS Strategic Partnerships: 1 ● Backlog at October 31, 2025 was approximately $15.0 million, an increase of $11.2 million and nearly 300% over the prior year period. ● Pipeline as of October 31, 2025 stands at $137.5 million, ...

CEA INDUSTRIES INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): December 15, 2025 (Exact name of registrant as specified in its charter) Nevada 001-41266 27-3911608 (IRS Employer Identification No.) (State or other jurisdiction of incorporation or organization) (Commission File Number) 385 South Pierce Avenue, Suite C Louisville, Colorad ...

Revenue and Financial Performance - For the year ended September 30, 2025, revenues generated from recycled iPhones accounted for 100% of the company's revenue[23]. - For the year ended September 30, 2025, total revenue reached $2,846,250, representing a 100% increase compared to $0 for the year ended September 30, 2024[131]. - Cost of Goods Sold (COGS) for the year ended September 30, 2025 was $2,790,500, also reflecting a 100% increase from $0 for the year ended September 30, 2024[133]. - Selling, general and administrative expenses surged 423% to $4,414,709 for the year ended September 30, 2025, compared to $844,844 for the same period in 2024[134]. - The operating loss for the year ended September 30, 2025 was $4,362,473, a significant increase from an operating loss of $844,844 in 2024, marking a 416% rise[135]. - Net loss for the year ended September 30, 2025 was $7,009,846, compared to a net loss of $3,251,127 for the year ended September 30, 2024, indicating a 116% increase in losses[137]. - Gross profit for the year ended September 30, 2025, was $55,750, with a gross margin of approximately 1.96%[181]. - Net loss attributable to Inno Holdings Inc. for the year ended September 30, 2025, was $7,079,363, compared to a net loss of $3,213,829 in 2024, representing an increase of 120%[181]. - The accumulated deficit as of September 30, 2025, was $14,818,007, raising concerns about the company's ability to continue as a going concern[162]. - For the year ended September 30, 2025, net cash used in operating activities was $4,728,738, primarily due to a net loss from continuing operations of $6,814,050[148]. - The company reported net cash provided by financing activities of $17,059,995 for the year ended September 30, 2025, compared to $7,144,235 in 2024[152]. - Total assets as of September 30, 2025, were $16,005,383, a substantial increase from $4,169,337 in 2024[175]. - Total equity increased to $15,166,727 as of September 30, 2025, from $2,797,536 in 2024, reflecting a growth of 442%[181]. - Cash and cash equivalents at the end of the period were $10,130,942, up from $1,077,138 in 2024, indicating a significant increase of 837%[188]. - The company incurred a loss on investment disposal of $2,152,522 during the year ended September 30, 2025[181]. Business Strategy and Operations - The company plans to diversify its product portfolio by expanding into laptops, such as MacBook, and other accessories, such as smartwatches and headphones[33]. - The company intends to set up offices in Singapore, Malaysia, Dubai, and other areas in Southeast and Middle Asia within the next five years to increase revenues and market presence[34]. - A Business to Business (B2B) marketplace platform is being developed to facilitate manufacturers and distributors to sell directly to business buyers, enhancing customer acquisition[35]. - The company aims to pursue horizontal and vertical integration through acquisitions within the recycled consumer electronic devices industry to strengthen market capabilities[36]. - The Company acquired Lear Group Limited and Baymax High Technology Co., Limited for a total consideration of $1,300 each, making them wholly-owned subsidiaries[61][62]. - The Company sold all issued and outstanding shares of its subsidiaries, IMSC and AT, for an aggregate purchase price of $1,000 in cash[63]. - The Company has shifted its primary business focus to recycled consumer electronic devices, discontinuing its previous cold-formed-steel business[72]. - The Company plans to form a strategic partnership with Megabyte Solutions Limited to deploy Web3 technology in its cross-border B2B marketplace platform[74]. - The Company anticipates significant expansion to address potential growth in its customer base and market opportunities, which may strain management and operational resources[80]. Human Resources and Management - The Company had five full-time employees as of September 30, 2025, compared to four in the previous year[57]. - The Company experienced changes in senior management during the financial year ended September 30, 2025, including the replacement of the Chief Executive Officer and Chief Financial Officer[81]. - The company plans to recruit additional personnel, including marketing and sales staff, to meet growth needs and enhance brand recognition[38]. Risks and Challenges - The company experiences moderate seasonality in business due to new product launches and promotional campaigns, which can affect quarterly results[40]. - The company relies on a limited number of suppliers, with two suppliers accounting for all total purchases for the year ended September 30, 2025[25]. - The Company is subject to risks associated with its concentrated customer and supplier base, which could materially affect its revenue and inventory sourcing[77][78]. - There is no assurance that the Company will achieve profitability in the future, which could impact its business development and marketing activities[79]. - As a public company, the Company incurs increased legal, accounting, and compliance costs, which are expected to continue[82]. - The Company may need new or additional financing in the future to expand its business, refinance existing debt, or make strategic acquisitions, with potential adverse impacts on operations if capital cannot be obtained on satisfactory terms[86]. - Future issuances of shares may result in significant dilution to existing shareholders, adversely affecting the market price of the Company's securities[87]. Financial Position and Capital Management - The lease for the principal executive office and warehouse is set at a monthly rent of $12,000, with a new lease term from June 1, 2024, to May 31, 2026[105]. - As of September 30, 2025, there were 19 stockholders of record for the Company's common stock, with the actual number being greater due to beneficial owners[112]. - The company completed a reverse stock split on October 9, 2024, converting each share into one-tenth of a share, with 199,787 fractional shares issued[114]. - The company has not declared any cash dividends since inception and does not anticipate paying dividends in the foreseeable future[116]. - The company engaged in multiple private placements, raising approximately $2 million from the sale of 500,000 shares at $4.00 per share on November 4, 2024[118]. - The company issued 3,200,000 shares at a price of $0.48 per share, raising approximately $1.536 million under the Standby Equity Purchase Agreement[144]. - The company received net proceeds of approximately $6.69 million from a registered direct offering of 1,200,000 shares at $3.60 per share[145]. - The company issued an aggregate of 85,000,000 shares for gross proceeds of approximately $28 million through an At-the-Market Offering[146]. - The Company entered into a Standby Equity Purchase Agreement (SEPA) on July 4, 2025, allowing it to issue and sell up to $6 million of common stock at a price between 20% and 40% of the Minimum Price of $1.20[206]. - The fair value of the SEPA derivative liability was determined to be $370,546 as of September 30, 2025, reflecting a change from an initial valuation of $635,669[217]. Cybersecurity and Compliance - The Company acknowledges the increasing importance of cybersecurity and is in the process of developing appropriate measures to enhance its cybersecurity posture[101]. - The adoption of the current expected credit loss (CECL) methodology has had no material impact on the Company's consolidated financial statements[211]. - The Company continuously monitors the recoverability of accounts receivable and may provision for non-collectability based on various indicators[212]. - The carrying amounts of cash and cash equivalents, accounts receivable, and other current assets and liabilities approximate fair values due to their short-term nature[215]. - The Company utilizes observable inputs to determine the fair value of financial instruments, categorized into three levels based on the nature of the inputs[219].

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 October 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 1-07062 INNSUITES HOSPITALITY TRUST (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Ohio 34-6647590 (I.R. ...

Exhibit 99.1 "Our platform serves the fundamental need for emerging private companies to quickly and easily access capital to fund their business plans," said Rich Wheeless, Netcapital's Chief Executive Officer. "We plan to offer cryptocurrency and blockchain financing in addition to traditional securities, which we believe will attract new clients seeking alternative funding sources as well as expand the base of investors to include those seeking to invest their crypto holdings." ● Total revenues were $51, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ______________________________________ (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2025 OR o 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 001-39213 ______________________________________ OneWate ...

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: October 31, 2025 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-41443 NETCAPITAL INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 1 Lincoln Street Boston MA 02111 (Address ...