For the transition period from to OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Registrant's telephone number, including area code: (425) 635-7700 (Former name or former address, if changed since last report) Securities registered pursuant to Section 12 ...

● Expanded Real-World Asset Origination Ecosystem: Acquired a 20% ownership stake in Karus, an AI-driven auto credit analytics platform, and a 15% stake in Zippy, a digital manufactured housing lending platform, establishing access to large- scale asset pipelines across auto credit and residential lending. ● Completed Strategic Rebrand to Forum Markets: Rebranded from ETHZilla Corporation to Forum Markets, Incorporated, and began trading under the ticker "FRMM" progressing the Company's evolution towards a ...

Revenue and Growth Projections - Forum reported a full-year revenue of $6.5 million for 2025, primarily driven by staking yields and incentive tokens from liquid staking activities [9]. - Forum anticipates total revenue for 2026 to be in the range of $18 million to $26 million, driven by yield income and fees from tokenized product launches [8]. - The company expects to exit 2026 with assets under management (AUM) between $125 million and $200 million, reflecting growth from various asset pipelines [8]. - The company is targeting AUM of $300 million to $400 million by year-end 2027, which could result in year-over-year revenue growth of 50% to 100% [8]. Financial Performance - Forum's net loss from continuing operations for 2025 was $450.5 million, primarily due to significant non-recurring and non-cash charges [12]. - The company reported a net loss of $443.531 million for the year ended December 31, 2025, compared to a net loss of $2.614 million for 2024 [18]. - Adjusted EBITDA for the year ended December 31, 2025, was $(218.453) million, compared to $(2.297) million for 2024 [19]. - Forum's adjusted EBITDA for 2025 was -$218.5 million, reflecting the impact of its corporate transformation efforts [12]. - Cash flows from operating activities showed a net cash used of $26.051 million for the year ended December 31, 2025, compared to $1.171 million for 2024 [18]. - The company incurred stock-based compensation expenses of $213.447 million for the year ended December 31, 2025 [19]. - The company had cash, cash equivalents, and restricted cash of $9.035 million at the end of the period, up from $4.567 million at the beginning of the period [18]. - Financing activities provided a net cash inflow of $158.153 million for the year ended December 31, 2025, compared to $4.032 million for 2024 [18]. - The company reported a significant interest expense of $3.056 million for the year ended December 31, 2025 [19]. Investments and Asset Management - The company acquired a portfolio of 95 manufactured and modular home loans for approximately $4.7 million, expected to generate an annualized yield of about 10.36% [7]. - A $10 million revolving auto loan warehouse facility was established, expected to generate an annualized yield of approximately 12–13% [7]. - The company used $127.634 million in investing activities for the year ended December 31, 2025, with significant purchases of digital assets totaling $244.275 million [18]. - The company repositioned its balance sheet by eliminating direct Ether price exposure and reallocating capital towards income-generating real-world assets [7]. Product Development and Innovation - Forum launched the Eurus Aero Token I, a tokenized aerospace product backed by jet engines, marking a significant step in its tokenization framework [4]. Risks and Uncertainties - The company anticipates that future performance may be impacted by various risks, including fluctuations in cryptocurrency prices and regulatory changes [26]. - The financial projections are based on numerous assumptions and are subject to significant uncertainties, indicating that actual results may vary materially [25].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from __________ to __________ Commission file number: 001-42590 FORM 10-K Titan Acquisition Corp. (Exact name of registrant as specified in its charter) (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, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Securities registered pur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Commission file number: 001-42590 Titan Acquisition Corp. (Exact name of registrant as specified in its charter) 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, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ | Title of each class | T ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Exact name of registrant as specified in its charter) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to___________ Commission file number 001-39043 For the fiscal year ended December 31, 2025 BROADWAY FINANCIAL CORPORATION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (State or other jurisdiction of incorporation or organ ...

Financial Performance - Revenues for the year ended December 31, 2025, were $30,541,443, an increase of $7,453,558 or 32.3% compared to $23,087,885 in 2024[245]. - Cost of revenues increased to $27,391,163 in 2025, up by $9,337,839 or 51.7% from $18,053,324 in 2024[245]. - Gross profit decreased to $3,150,280 in 2025, a decline of $1,884,281 or 37.4% compared to $5,034,561 in 2024[245]. - Net income for 2025 was a loss of $5,272,551, a decrease of $5,391,556 from a net income of $119,005 in 2024[245]. - Income from operations was a loss of $5,654,567 in 2025, worsening by $5,621,063 compared to a loss of $33,504 in 2024[245]. - Net loss for the year ended December 31, 2025, was $(5,272,551), compared to a net income of $119,005 in 2024, indicating a significant downturn[290]. - The Company reported total sales of $30,541,443 for the year ended December 31, 2025, with a gross profit of $3,150,280, indicating a gross margin of approximately 10.3%[375]. Operating Expenses - Total operating expenses rose to $8,804,847 in 2025, an increase of $3,736,782 or 73.6% from $5,068,065 in 2024[245]. - Selling and marketing expenses surged to $1,011,092 in 2025, an increase of $959,457 or 1855.5% from $51,635 in 2024[245]. - General and administrative expenses increased to $7,373,892 in 2025, up by $2,537,111 or 52.5% from $4,836,781 in 2024[245]. - The Company’s operating expenses totaled $8,804,847 for the year ended December 31, 2025, with general and administrative expenses accounting for $7,373,892[375]. Cash Flow and Financing - Net cash used in operating activities was $(11,789,888) in 2025, a 439% decrease from cash provided in 2024, primarily due to increased operational expenses related to IPO preparations[260]. - Net cash provided by financing activities was $35,568,844 in 2025, compared to net cash used of $(1,204,877) in 2024, attributed to a PIPE transaction completed in October 2025[262]. - The company reported a net increase in cash of $22,512,201, bringing total cash and restricted cash to $25,208,384 at the end of 2025, compared to $2,696,183 at the end of 2024[295]. - Cash balance increased to $22,208,384 in 2025 from $2,696,183 in 2024, a growth of 724%[287]. - Total cash balance in excess of FDIC limits was $21,862,085 as of December 31, 2025, compared to $2,196,183 in 2024[304]. Assets and Equity - Total assets increased to $40,033,702 as of December 31, 2025, compared to $8,965,038 in 2024, representing a growth of 346%[287]. - Total current assets rose to $37,300,878 in 2025 from $7,123,579 in 2024, marking an increase of 424%[287]. - Shareholder's equity increased to $37,834,838 in 2025 from $6,329,759 in 2024, a growth of 497%[287]. - The company has a total deferred tax asset of $1,413,983, with a valuation allowance of $1,361,081, resulting in a net deferred tax asset of $0[391]. Revenue Segmentation - The Commercial Construction segment accounted for 78% of total revenue in 2025, down from 89% in 2024, while the Residential Construction segment increased to 22% from 11%[326][327]. - The commercial construction segment accounted for approximately 50% of total revenue for the year ending December 31, 2025, down from 78% in 2024, suggesting a shift in revenue sources[352]. - The residential construction segment represented 22% of total revenues in 2025, reflecting the growing demand for housing in Florida due to population growth[359]. Project and Development - The Company has 24 ongoing projects, with four of them being real estate development projects, focusing on larger multi-family residential developments to drive revenue growth[362]. - The Company aims to invest in real estate development projects directly or through joint ventures, which could secure substantial returns and generate revenue from property sales, leasing income, and management fees[363]. - Management anticipates continued expansion in the franchise construction division, particularly in the Southeast, which is projected to grow by 3.5%[358]. - The Company recognizes the inherent risks in real estate development, including market fluctuations and project delays, but aims to mitigate these through an integrated investment and construction strategy[366]. Tax and Compliance - The effective tax rate for the year ended December 31, 2025, was reported at (21.1)%[390]. - The company has not accrued any penalties or interest related to uncertain tax positions as of December 31, 2025[389]. Related Party Transactions - The company has recorded $4,468,064 in related party sales and $4,245,041 in related party cost of goods sold associated with a project with Rare Capital Partners LLC[403]. - One franchise accounted for 26% of sales during the year ended December 31, 2025, while two customers represented 18% and 47% of accounts receivable[397].

Loan Portfolio - As of December 31, 2025, Catalyst Bancorp's loan portfolio totaled $170.2 million, representing 60.2% of total assets[23] - Single-family residential mortgage loans accounted for $80.1 million, or 47.1% of the total loan portfolio, with an average outstanding balance of $75,000 per loan[29] - Commercial real estate and multi-family residential loans totaled $38.2 million, or 22.4% of the total loan portfolio[33] - The commercial real estate loan portfolio was $32.9 million, or 19.3% of the total loan portfolio, with the largest loans being $6.1 million, $2.9 million, and $2.7 million[34] - The Bank's multi-family residential mortgage loans amounted to $5.3 million, or 3.1% of the total loan portfolio, with an average outstanding balance of $885,000 per loan[35] - At December 31, 2025, commercial and industrial loans totaled $31.2 million, accounting for 18.3% of the total loan portfolio[45] - Consumer loans totaled $1.9 million, or 1.2% of the total loan portfolio, with $1.2 million secured by deposits at the Bank[49] Non-Performing Loans - At December 31, 2025, non-performing loans totaled $2.6 million, with 94.6% being one- to four-family residential mortgages[29] - Loans classified as "substandard" totaled $5.0 million at December 31, 2025, up from $2.8 million in 2024[58] - Loans with modifications for borrowers experiencing financial difficulty totaled $719,000 at December 31, 2025, compared to $583,000 in 2024[63] - The company recorded zero charge-offs of commercial real estate or multi-family residential loans during the year ended December 31, 2025[39] - Non-accrual loans as a percent of total loans outstanding increased to 1.32% in 2025 from 0.94% in 2024[191] - Total non-performing loans increased to $2,643 thousand at the end of 2025, compared to $1,631 thousand in 2024, reflecting a rise of 62.0%[207] Credit Losses - The provision for credit losses totaled $60,000 in 2025, down from $531,000 in 2024, with the allowance for credit losses on loans as a percentage of total loans at 1.39% in 2025 compared to 1.51% in 2024[64] - The allowance for credit losses on loans totaled $2.4 million, or 1.39% of total loans, at December 31, 2025, down from $2.5 million, or 1.51% of total loans, at December 31, 2024[185] - The total provision for credit losses on loans and unfunded commitments was $60,000 for 2025, down from $531,000 in 2024[205] - The allowance for credit losses on unfunded commitments increased to $211,000, up $90,000 from December 31, 2024[202] Investment Securities - The investment securities portfolio amounted to $65.4 million, representing 23.1% of total assets as of December 31, 2025, with $48.9 million in pass-through mortgage-backed securities[68] - The company sold 50 available-for-sale investment securities in 2024, incurring a pre-tax loss of $5.5 million, with proceeds of $42.6 million reinvested into cash and higher-yielding assets[68] - Total investment securities reached $65.4 million at December 31, 2025, up $23.2 million, or 55.1%, from $42.2 million in 2024[209] - Net unrealized losses on securities available-for-sale decreased to $3.1 million at December 31, 2025, from $4.5 million at December 31, 2024[211] Deposits and Funding - Total deposits averaged $179.5 million in 2025, an increase from $172.1 million in 2024, influenced by economic conditions and competition[74] - Outstanding advances from the FHLB increased to $14.7 million in 2025 from $9.6 million in 2024, indicating a reliance on alternative funding sources[76] - Public fund deposits decreased to $26.4 million in 2025 from $35.6 million in 2024, reflecting changes in local government deposit activities[75] - Deposits totaled $185.3 million, a slight decrease of $400,000 or 0.2%[179] Financial Performance - Net interest income rose by $245,000 or 2.6% to $9.8 million, with net interest margin increasing by 27 basis points to 3.92%[179] - Net income for 2025 was $2.1 million, translating to $0.56 per diluted common share[179] - Total non-interest income turned positive at $1.36 million in 2025, compared to a loss of $3.84 million in 2024[190] - The efficiency ratio improved to 76.99% in 2025 from 160.51% in 2024, indicating better cost management[191] - Return on average assets improved to 0.75% in 2025 from a loss of 1.10% in 2024, reflecting enhanced profitability[191] Company Strategy and Operations - Catalyst Bancorp's strategy has shifted to focus on attracting small- to mid-sized businesses and increasing holdings of commercial and multi-family residential real estate loans[19] - The company plans to expand its franchise through potential acquisitions of other financial institutions in south Louisiana[181] - The company has implemented a new core processing system to enhance technology tools and online services for customers[181] - Catalyst Bancorp has not entered into any definitive agreement to acquire other financial institutions but may consider such opportunities in the future[13] Regulatory Compliance - Catalyst Bank's capital exceeded all applicable regulatory requirements as of December 31, 2025, ensuring compliance with federal capital standards[95] - Catalyst Bank is in compliance with the loans-to-one borrower limitations as of December 31, 2025[101] - Catalyst Bank received an "outstanding" Community Reinvestment Act rating in its most recent federal examination[106] - As of December 31, 2025, Catalyst Bank met the criteria for being considered "well capitalized" under federal regulations[121] - The FDIC's risk-based assessment system charges lower assessments to institutions deemed less risky of failure[122] - The FDIC finalized an increase in initial base deposit insurance assessment rates by 2 basis points effective January 1, 2023, to help maintain the Deposit Insurance Fund[123] Taxation and Capital Requirements - The Corporation Income Tax for 2024 in Louisiana applies at graduated rates from 3.5% on the first $50,000 of taxable income to 7.5% on income exceeding $150,000[157] - Catalyst Bancorp is classified as an emerging growth company, allowing it to take advantage of exemptions from various reporting requirements[148] - The Dodd-Frank Act mandates that the FRB implement consolidated capital requirements for bank holding companies that are no less stringent than those for banks[140] - Federal regulations limit capital distributions if the institution does not hold a capital conservation buffer of 2.5% of common equity Tier 1 capital[99]

Financial Performance - Total revenue for the fiscal year ended December 31, 2025, was $1,566,631, compared to $438,292 for 2024, reflecting significant growth driven by the GPU cloud services segment [394]. - Cost of revenue increased to $1,465,824 in 2025 from $719,993 in 2024, primarily due to expenses related to GPU cloud computing operations [397]. - The net loss for the fiscal year 2025 was $39,815,021, compared to a net loss of $3,923,998 in 2024, reflecting ongoing investments and operational challenges [394]. Expenses - Share-based compensation expenses rose to $1,761,785 in 2025 from $253,728 in 2024, as part of efforts to attract and retain key talent [398]. - Selling, general, and administrative expenses (SG&A) increased to $12,116,600 in 2025 from $2,368,745 in 2024, largely due to employee-related costs and professional fees [399]. Capital and Financing Activities - The company completed a US$103 million pre-IPO capital raising in January 2026, introducing new institutional and strategic shareholders [383]. - The company listed on NASDAQ in February 2026, raising US$125 million before costs, enhancing access to capital markets [386]. - Net cash provided by financing activities was $83.044 million for the year ended December 31, 2025, mainly from the issuance of convertible notes [415]. - The Company is actively engaged in capital raising discussions with existing and prospective investors to ensure sufficient liquidity for operations [411]. Investments and Cash Flow - Net cash used in operating activities was $2.639 million for the year ended December 31, 2025, compared to $2.206 million in 2024, indicating increased operational expenditures [412]. - Net cash used in investing activities was $13.806 million for the year ended December 31, 2025, primarily for capital expenditures related to servers and infrastructure [414]. - The Company expects to continue investing in scaling its infrastructure and operations, indicating a need for additional capital to support ongoing activities [410]. Strategic Changes - The company transitioned to a pure-play neocloud operator, divesting its 50% interest in a joint venture for US$70 million in January 2026 [384]. - The change in fair value of convertible notes resulted in a loss of $26,030,635 in 2025, reflecting the accounting treatment of newly issued notes [405]. - The Company has entered into colocation agreements for data center facilities under non-cancellable operating leases, which could impact future cash flows [422]. - The Company has obligations under managed service agreements totaling approximately $34,000 per month, affecting operating expenses and liquidity [424]. Research and Development - The Company is focused on research and development to enhance data storage software and system architecture, with ongoing projects in Australia under the R&D Tax incentive scheme [418][419]. - Goodwill of $18.0 million arose from the acquisition of Distributed Storage Solutions Pty Ltd in June 2024, with annual impairment assessments conducted [433]. Future Outlook - The company anticipates capturing increased revenue from the growing demand for AI and HPC compute resources as its GPU deployments become fully operational [390]. - As of December 31, 2025, the Company held cash of $71.07 million and closed approximately $104 million of pre-IPO funding through convertible notes, enhancing its liquidity position [409].

Revenue Growth - Revenues for 2025 increased by 26.5% to $50.5 million from $40 million in 2024, driven by heightened geopolitical tensions in Israel and Europe [165] - Revenues of the Supply Chain division increased by 37.6% to $35.5 million in 2025 from $25.8 million in 2024 [165] Profitability - Gross profit for 2025 was $12.1 million with a gross profit margin of 23.9%, compared to $9.3 million and 23.5% in 2024 [166] - Gross profit for the Supply Chain division was $8.7 million with a gross profit margin of 24.6% in 2025, up from $5.4 million and 21% in 2024 [166] - Net profit for 2025 was $3.6 million compared to $2.3 million in 2024, with basic and diluted net income per share of $0.59 and $0.57 respectively [172] Cash Flow and Working Capital - The Company generated a positive cash flow from operating activities amounting to $5 million in 2025, compared to $1.3 million in 2024 [179] - As of December 31, 2025, the Company had cash and cash equivalents of $11.9 million and positive working capital of $22.4 million [179] - Net cash provided by operating activities increased to $5 million in 2025 from $1.3 million in 2024, mainly due to a decrease in trade payables [190] - Net cash used in investment activities in 2025 amounted to $452,000, a decrease from $519,000 in 2024 and $772,000 in 2023, primarily for the purchase of property and equipment [191] - Net cash provided by financing activities in 2025 amounted to $3.8 million, significantly higher than $217,000 in 2024, mainly due to proceeds from the exercise of options and warrants [192] Expenses and Impairments - General and administrative expenses increased to $2.5 million in 2025 from $2.1 million in 2024, partly due to costs related to a sales agreement [169] - The Company recorded an impairment of intangible assets and goodwill of $1.2 million in 2025 due to a cumulative revenue decline of 12% in the RFID division from 2022 to 2025 [170] - Goodwill impairment charges totaled $1.2 million in 2025, following a $700,000 charge in 2024, due to adverse effects from geopolitical tensions [198] - The company recorded an impairment loss of goodwill of $700,000 on June 30, 2025, and an additional $500,000 on December 31, 2025, related to the RFID Division [209] Research and Development - Research and development expenses were $178,000 for the year ended December 31, 2025, compared to $175,000 for 2024, focusing on custom-made automation concepts [193] Market Position and Future Plans - The Intelligent Robotics division has 90% of its backlog serving the defense sector, indicating a strong market position [197] - A significant portion of revenues is derived from the defense sector, which is experiencing strong and sustained expansion, positioning the company for future growth [195] - The company plans to invest in expanding into more stable regulated sectors, including medical and defense, with revenue contributions expected to begin in 2027 [198] - The company operates through three divisions: Supply Chain, RFID, and Intelligent Robotics, with a focus on comprehensive technological solutions [194]