Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ 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 Date of event requiring this shell company report For the transition period from to Commission file number 1-15240 JAMES HARDIE INDUSTRIES plc ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHA ...

U. S. 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 ☐ 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 001-38182 BEELINE HOLDINGS, INC. (Name of small business issuer as specified in its charter) Nevada 20-3937596 (State or other j ...

For the quarterly period ended March 31, 2025 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 Registrant's telephone number, including area code: (877) 881-6376 (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol(s) | Name of exchange on which reg ...

Financial Performance - Operating loss for the three months ended December 31, 2024, was $110.8 million, compared to an operating loss of $48.4 million for the same period in 2023, indicating a significant deterioration in financial performance [156]. - Total operating revenue decreased by $15.5 million, or 13.1%, to $103.2 million for the three months ended December 31, 2024, primarily due to a $20.4 million, or 20.2%, decrease in contract revenue [162]. - The number of passengers decreased by 304,556, or 18.9%, to 1,303,614 for the three months ended December 31, 2024, compared to 1,608,170 in the same period of 2023 [162]. - The company reported a net loss of $114.6 million for the three months ended December 31, 2024, compared to a net loss of $57.9 million for the same period in 2023 [180]. Revenue and Expenses - Contract revenue per available seat mile (CRASM) decreased by 6.2% to 9.24 cents for the three months ended December 31, 2024, compared to 9.85 cents in 2023 [158]. - Total operating expenses increased by $46.8 million, or 28.0%, to $214.0 million for the three months ended December 31, 2024, compared to $167.2 million in 2023 [163]. - Flight operations expense decreased by $16.5 million, or 31.9%, to $35.3 million for the three months ended December 31, 2024, primarily due to reduced pilot training expenses and lower pilot wages [163]. - Maintenance expense decreased by $2.1 million, or 4.3%, to $46.5 million for the three months ended December 31, 2024, driven by a decrease in wages [164]. - Total maintenance costs decreased by $2.1 million, or 4.3%, to $46.5 million for the three months ended December 31, 2024, primarily due to a significant reduction in engine overhaul costs [165]. - General and administrative expenses decreased by $2.5 million, or 20.7%, to $9.5 million for the three months ended December 31, 2024, mainly due to lower wages and insurance costs [166]. - Depreciation and amortization expense decreased by $5.3 million, or 40.0%, to $8.0 million for the three months ended December 31, 2024, due to the sale of aircraft [167]. Asset Management - Asset impairment charges increased by $25.3 million, or 62.6%, to $65.7 million for the three months ended December 31, 2024, compared to $40.4 million in 2023 [163]. - The company recorded an asset impairment of $65.7 million for the three months ended December 31, 2024, related to 10 E-175 aircraft [168]. - A loss on the sale of assets of $46.7 million was recorded for the three months ended December 31, 2024, primarily from the sale of eight E-175 aircraft [169]. Cash Flow and Liquidity - During the three months ended December 31, 2024, net cash used in operating activities was $11.6 million, compared to $7.8 million in the same period of 2023 [196][197]. - Net cash provided by investing activities for the three months ended December 31, 2024, totaled $115.8 million, primarily from proceeds of $117.7 million from the sale of aircraft and engines [199]. - Net cash used in financing activities during the three months ended December 31, 2024, was $79.9 million, all of which was for payments on long-term debt and finance leases [201]. - The company has $40.0 million in cash and cash equivalents and $3.0 million in restricted cash as of December 31, 2024 [192]. - As of December 31, 2024, the company has $143.3 million in principal maturity payments on long-term debt due within the next twelve months [185]. Debt and Financing - The company had aggregate federal and state net operating loss carryforwards of approximately $371.7 million and $176.1 million, respectively, as of December 31, 2024 [174]. - The effective tax rate from continuing operations was 1.5% for the three months ended December 31, 2024, compared to -1.5% for the same period in 2023 [172]. - The company entered into a purchase agreement for the sale of 18 E-175 aircraft to United for gross proceeds of $227.7 million, netting $84.7 million after debt retirement [192]. - The company has $145.1 million of variable-rate debt, with a hypothetical 100 basis point change in market interest rates potentially affecting interest expense by approximately $1.5 million in the three months ended December 31, 2024 [208]. - The company had $85.5 million of fixed-rate debt as of December 31, 2024, and a hypothetical 100 basis point change in market interest rates would not impact interest expense or materially affect the fair value of these instruments [209]. - Following the cessation of LIBOR, the company transitioned to SOFR for its debt arrangements, with $145.1 million of borrowings based on SOFR as of December 31, 2024 [210]. Operational Strategy - The company operated a fleet of 60 aircraft with approximately 228 daily departures as of December 31, 2024 [140]. - The company derived $3.9 million in revenues from its FSA with DHL, which terminated in March 2024 [140]. - A three percent (3%) increase in CPA block hour rates was implemented retroactive to January 1, 2025 [183]. - The company has entered into agreements to sell surplus assets, including 23 GE model CF34-8C engines for expected gross proceeds of $16.3 million [183]. - The company is actively seeking arrangements to sell other surplus assets related to the CRJ fleet to reduce debt and optimize operations [187]. - The company is largely sheltered from fuel price volatility due to agreements with major partners that directly supply and pay for fuel [212]. - The company has minimal foreign currency risks related to operating expenses in currencies other than the U.S. dollar, primarily the Canadian dollar, and a 10% change in exchange rates would not materially affect financial results [211].

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 PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-40308 _________________________ FINANCE OF AMERICA COMPANIES INC. (Exact name of registrant as specifi ...

Production and Development - The company has commenced commercial production at its C-14, Si-28, and Yb-176 enrichment facilities in Pretoria, South Africa, with expectations to generate commercial product during 2025[183] - The company anticipates shipping the first commercial batches of enriched Carbon-14 in mid-2025 and enriched Silicon-28 during the second quarter of 2025[183] - The company is considering future development of ASP technology for the separation of various isotopes for healthcare and semiconductor markets[184] - A term sheet was signed with TerraPower in October 2024 for funding the construction of a HALEU production facility, with a 10-year purchase agreement for all HALEU produced[185] - The company has entered into a Loan Agreement with TerraPower for a total of $22,000,000 to partially fund the construction of a uranium enrichment facility[200] Financial Performance - Revenue for the three months ended March 31, 2025, was $1,101,605, an increase of 31% compared to $840,354 for the same period in 2024[224] - Research and development expenses surged to $1,529,795 for the three months ended March 31, 2025, up from $215,134 in 2024, reflecting an increase of $1,314,661[229] - Selling, general and administrative expenses rose to $6,749,381 for the three months ended March 31, 2025, compared to $5,878,546 in 2024, marking an increase of $870,835[230] - The net loss before allocation to noncontrolling interest for the three months ended March 31, 2025, was $8,461,432, compared to a loss of $6,964,844 in 2024, indicating a deterioration of $1,496,588[224] - Total operating expenses for the three months ended March 31, 2025, were $8,279,176, an increase of $2,185,496 from $6,093,680 in 2024[225] Cash Flow and Capital Requirements - As of March 31, 2025, the company had cash and cash equivalents of $56.0 million, with expectations of continued net losses and negative cash flows from operations[233] - The company incurred net cash used in operating activities of $3,169,976 for the three months ended March 31, 2025, primarily due to the net loss of $8.5 million[244] - Future capital requirements will depend on the progress and costs of development activities for future isotopes, as well as regulatory review outcomes[237] - The company expects to finance its cash needs through public or private equity or debt financings, but may face challenges in raising additional funds[240] - Net cash used in operating activities was $2,970,469 for the three months ended March 31, 2024, primarily due to a net loss of $7.0 million[245] Investments and Agreements - The company has a 51% ownership stake in PET Labs, with a total payment of $2,000,000 for the shares, of which $500,000 was paid in November 2023[191] - The company entered into an Exclusivity Agreement with Renergen Limited, with an exclusivity fee of $10,000,000 paid in April 2025[254] - A total of $30,000,000 will be provided by the company to Renergen in periodic payments for funding operations, with $10,000,000 already applied from the exclusivity fee[255] Leases and Other Financial Obligations - The company leases its main facility in Pretoria, South Africa, with a base monthly rent payment of approximately $9,000, expiring on December 31, 2030[251] - The company has additional leases in Pretoria, South Africa, including a space with a base monthly rent payment of approximately $18,000 expiring on February 28, 2026[251] - The company executed a promissory note payable for $500,923 in November 2024 to fund its directors and officers' insurance policy[253] - The company did not have any off-balance sheet arrangements during the periods presented[257] - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[260]

Business Transformation - The company transformed its business from fruit juice manufacturing to supply chain financing services and trading in China, asset management in Hong Kong, and cryptocurrency mining in the U.S. due to increased production costs and tightened environmental laws in China[142]. - The company sold its ownership in Nice Talent Asset Management Limited for HK$2.4 million (approximately $300,000) in November 2024, exiting the asset management business in Hong Kong[142]. - The company completed the sale of FTFT SuperComputing for a total consideration of $1,973,072.24, including the assumption of obligations totaling $973,072.24 and a cash payment of $1,000,000[149]. - The company sold all interests in multiple subsidiaries for $25,000 through a court-ordered auction in December 2024[150]. - The company dissolved its VIE E-Commerce Tianjin in March 2024 due to minimal revenue generation since 2021[142]. - The company acquired 100% equity interest in Alpha International Securities (Hong Kong) Limited, which holds multiple financial licenses, closing the transaction in November 2023[147]. - The company’s shareholding in Nice Talent Asset Management Limited decreased from 90% to 42.86% due to new share issuances before the sale[145]. - The company attempted to develop cryptocurrency mining operations in Paraguay but dissolved the entity in December 2023 due to failure to execute the business plan[146]. Regulatory and Legal Risks - The company faced legal and operational risks due to regulatory changes in China, which could materially impact its business and financial outlook[143]. - The company is still processing filings with the CSRC for its offerings under the New Overseas Listing Rules, which may subject it to fines for non-compliance[144]. Financial Performance - Total revenue for the three months ended March 31, 2025, was $552,977, a decrease of 18.58% from $679,189 in the same period of 2024[162]. - Supply chain financing/trading revenue increased by 8.16% to $477,792 for the three months ended March 31, 2025, compared to $441,764 in 2024[162]. - Gross profit decreased to $78,618 for the three months ended March 31, 2025, down from $275,094 in the same period of 2024, with a gross margin of 14.22%[166]. - Operating expenses surged to $31,225 for the three months ended March 31, 2025, compared to $2,177 in 2024, reflecting a significant increase in bad debt provision[167]. - Net loss from continuing operations increased to $30.95 million for the three months ended March 31, 2025, up from $3.34 million in 2024[172]. - Gain on disposal of discontinued operations was $28.24 million for the three months ended March 31, 2025[173]. - Cash and restricted cash as of March 31, 2025, totaled $4.44 million, a decrease from $4.77 million as of December 31, 2024[175]. - Net cash used in operating activities increased to $28.84 million for the three months ended March 31, 2025, from $7.39 million in the same period of 2024[177]. - Net cash provided by financing activities was $6,093 for the three months ended March 31, 2025, an increase of $2.47 million compared to cash used in financing activities in 2024[179]. Stock and Shareholder Actions - The Company authorized a 1-for-10 reverse stock split, reducing authorized shares from 60 million to 6 million, effective April 1, 2025[152].

Financial Performance - For the three months ended March 31, 2025, net sales were $590,567, a decrease of 27.1% compared to $810,490 for the same period in 2024[19] - Gross profit for the first quarter of 2025 was $119,392, down 61.2% from $308,219 in the prior year[19] - The net loss for the first quarter of 2025 was $14,036,381, compared to a net loss of $4,532,363 for the same period in 2024, representing a 209.5% increase in losses[19] - The operating loss for the Company was $13,731,673, with the electric vehicle segment experiencing a loss of $13,250,409[124] Cash and Liquidity - Cash and cash equivalents at the end of the period were $211,284, a decrease of 89.1% from $1,049,357 at the end of the first quarter of 2024[25] - The company experienced a cash outflow from fraudulent activity amounting to $2,249,515, impacting its financial position[25] Operating Expenses - Total operating expenses increased significantly to $13,851,065, compared to $3,264,516 in the same quarter of 2024, primarily due to a goodwill impairment charge of $10,103,048[19] - Research and development costs increased to $98,398 for the three months ended March 31, 2025, compared to $70,265 for the same period in 2024, reflecting a 40% increase[53] - Non-cash stock-based compensation expense was $546,576 for the three months ended March 31, 2025, down from $1,818,383 for the same period in 2024, representing a decrease of 70%[54] Assets and Liabilities - Total current liabilities increased to $15,671,215, up from $11,744,671 at the end of 2024, indicating a rise of 33.3%[17] - The company had finished goods inventory of $6,261,697 as of March 31, 2025, with a net inventory balance of $6,249,268 after an inventory valuation allowance of $12,429[43] - Inventory deposits increased to $8,711,812 as of March 31, 2025, up from $6,036,809 as of December 31, 2024, indicating a 44% increase[44] - The company had trade accounts receivable of $865,721 as of March 31, 2025, with a net balance of $852,125 after an allowance for doubtful accounts of $13,596[40] Shareholder Information - The company reported a total of 23,106,392 common shares outstanding as of March 31, 2025, an increase from 19,872,612 shares at the end of 2024[22] - The Company has 9,672,482 outstanding stock options with a weighted average exercise price of $1.59 and an average remaining contractual life of 7.14 years[97] Business Operations and Expansion - The company added two new business operations in the first quarter of 2025: medical supplies and drones, expanding its business portfolio[27] - The Company plans to open a U.S. drone manufacturing facility following a Consulting and Manufacturing Agreement for a heavy lift drone, which is designed for the agricultural market[127] - The Company signed a non-binding letter of intent to acquire Kymera, a marine craft manufacturer, to establish a new marine division focused on electric marine mobility[128] Impairment and Charges - The company recorded a non-cash impairment charge of $10,103,048 for goodwill as of March 31, 2025, with no impairment charge recorded for the year ended December 31, 2024[52] - The company recorded a non-cash impairment charge of $10,103,048 for goodwill during the three months ended March 31, 2025, due to a decline in stock price[68] Debt and Financing - The total future annual minimum payments of the Company's outstanding debt as of March 31, 2025, amount to $4,570,099, including $186,756 for the remainder of 2025 and $4,383,343 for 2026[90] - The Company entered into a convertible promissory note agreement for $1,000,000 on January 18, 2024, which was later converted into 505,051 shares of common stock[77] - The Company has the right to require an investor to purchase up to $25 million of shares of common stock until November 1, 2027, under the amended standby equity purchase agreement[82] Market Risks - The Company is exposed to market risks related to raw material costs, particularly batteries, which could materially affect operating results[185]

Financial Performance - XWELL reported a revenue growth of approximately 13% in 2024, totaling $33.9 million compared to $30.1 million in 2023[22] - Gross margin increased significantly from 12.2% in 2023 to 26.3% in 2024[3] - Total operating expenses were reduced by approximately 19% in 2024, amounting to $25.6 million compared to $31.9 million in the prior year[25] - The operating loss decreased to approximately $16.7 million in 2024 from approximately $28.2 million in 2023[26] - Net loss attributable to XWELL was approximately $16.9 million in 2024, down from approximately $27.7 million in the previous year[27] Strategic Initiatives - XWELL plans to acquire select medical spas in 2025, leveraging a recent $4 million private placement to expand into the wellness and beauty sector[9] - XWELL launched a new Naples Wax Center in Estero, Florida, marking the first of six planned openings across Florida in 2025[14] - The company aims to unify its wellness offerings under a single XWELL brand identity to enhance customer relationships and brand loyalty[6] Government Contracts - The CDC extended its Traveler-based Genomic Surveillance Program for three years, with a total base value of $53.7 million and a maximum ceiling value of $85.7 million[17] Financial Position - As of December 31, 2024, XWELL had approximately $4.6 million in cash and cash equivalents and no long-term debt[20]

Financial Performance - Revenue for Q1 2025 was $15,133,000, a decrease of 9.8% compared to $16,774,000 in Q1 2024[11] - Gross profit for Q1 2025 was $6,715,000, down from $7,031,000 in Q1 2024, reflecting a gross margin of 44.4%[11] - Net loss for Q1 2025 was $2,756,000, compared to a net loss of $2,689,000 in Q1 2024, indicating a slight increase in losses[11] - For the three months ended March 31, 2025, total revenue was $15,133,000, a decrease of 9.6% compared to $16,774,000 for the same period in 2024[147] - The gross profit for the same period was $6,715,000, down from $7,031,000, reflecting a decline of 4.5% year-over-year[147] - The company incurred a net loss of $2,273,000 for the three months ended March 31, 2025, compared to a loss of $2,499,000 for the same period in 2024[147] - The company had an accumulated deficit of $182,200,000 as of March 31, 2025, following a net loss of $2,800,000 for the three months ended[163] Operating Expenses and Cash Flow - Total operating expenses decreased to $7,563,000 in Q1 2025 from $8,937,000 in Q1 2024, a reduction of 15.4%[11] - Cash used in operating activities for Q1 2025 was $(15,581,000), compared to cash provided by operating activities of $15,525,000 in Q1 2024[17] - Operating expenses totaled $7.6 million, down 15.4% from $8.9 million in the previous year, with significant reductions in research and development expenses by 67.8%[181] - The company's consolidated working capital was negative $24.1 million as of March 31, 2025, with cash of $3.0 million and restricted cash of $74.5 million[188] - Net cash used in operating activities was $15.6 million for Q1 2025, compared to $15.5 million provided in Q1 2024, primarily driven by the timing of asset and liability settlements[191] Assets and Liabilities - Cash and restricted cash at the end of Q1 2025 totaled $77,490,000, down from $88,816,000 at the end of Q1 2024[17] - Total current assets decreased to $79,835,000 as of March 31, 2025, from $95,384,000 as of December 31, 2024, a decline of 16.3%[10] - Total liabilities decreased to $111,155,000 as of March 31, 2025, from $123,768,000 as of December 31, 2024, a reduction of 10%[10] - The Company has a long-term debt of $4.594 million as of March 31, 2025, compared to $17.363 million as of December 31, 2024[75] - The Company recorded $1.1 million of interest expense related to the note payable for the three months ended March 31, 2025[72] Business Operations and Strategy - RYVYL transitioned its QuickCard product from a terminal-based to an app-based processing model in early 2024, but later determined it was not viable for certain high-risk business verticals, leading to the termination of the app-based rollout[22][23] - The company began offering a licensing model for its QuickCard platform in Q3 2024 to serve its previous customer base through partners with better compliance capabilities, although no active licensing agreements are currently in place[23] - Management expects the recovery of lost revenues from the discontinuation of QuickCard to take longer than initially anticipated due to an uncertain business environment in the U.S.[24] - The discontinuation of QuickCard has negatively impacted the company's liquidity in North America, with management indicating that cash balances will not be sufficient to fund operations beyond June 30, 2025, unless additional capital is raised[25][26] - RYVYL is actively pursuing capital raising through private and public equity offerings and debt financings, with discussions ongoing with multiple banks[31] - The company is focusing on accelerated business development efforts to drive volumes in diversified business verticals, including the recently launched licensing of its payments processing platform[31] Legal Proceedings - The company is involved in ongoing legal proceedings, including a putative class action lawsuit alleging violations of the Securities Act and Exchange Act, with claims spanning from January 29, 2021, to January 20, 2023[142] - The company is cooperating with an SEC investigation regarding possible violations of federal securities laws, particularly concerning disclosures related to its blockchain technology and QuickCard product[143] - The company has reached an agreement in principle to settle claims in a shareholder derivative lawsuit, pending documentation and court approval[144] - The Company faces ongoing shareholder derivative complaints alleging failure to implement adequate internal controls and overpayment misconduct, with a settlement agreement reached in principle on May 8, 2025[206] Stock and Equity - The company issued 15,760 shares of common stock under equity incentive plans, resulting in an increase in additional paid-in capital to $179,222,000[13] - The Company has a full valuation allowance on its deferred tax assets as of March 31, 2025, indicating that it does not expect to realize these assets[57] - The 2023 Equity Incentive Plan allows for the grant of up to 5,098,262 shares of common stock, replacing previous incentive plans[131] - As of March 31, 2025, the outstanding stock options totaled 573,127 shares, with an average exercise price of $4.25[132] - The Company issued 6,000 shares of Series A Preferred Stock for $4.3 million and 55,000 shares of Series B Preferred Stock for $3.0 million, in exchange for $60.3 million of outstanding principal balance[122] Future Outlook - The company expects to incur a loss of at least $6,000,000 upon the closing of the pre-funded sale of its subsidiary, Ryvyl EU, which is expected to occur in Q2 2025[152] - The company has until May 23, 2025, to provide Nasdaq with a plan to regain compliance with listing requirements[148] - The company anticipates that its cash balance will only be sufficient to fund operations through approximately June 30, 2025, unless additional capital is raised[164]