Summary of WidePoint (WYY) Conference Call - August 19, 2025 Company Overview - **Company**: WidePoint Corporation (Ticker: WYY) - **Industry**: Managed service provider, focusing on mobility management, cybersecurity, and data analytics for the US federal government and commercial customers [1][3] Core Services - **Mobility as a Service (MaaS)**: A SaaS model providing integrated services including: - **Identity Management**: Secure multifactor authentication, certified for federal zero trust architecture [5][6] - **Managed Mobility Solutions**: Comprehensive support for mobile technology assets throughout their lifecycle [6] - **Data Analytics**: Visibility into asset usage, location, and costs [6] - **IT as a Service**: Outsourced management of IT infrastructure, including cybersecurity [7] Key Business Opportunities - **CWMS 3.0 Contract**: - Represents approximately **60% of revenues** and is the largest contract for WidePoint [10] - The company has a strong position due to facility security clearance and FedRAMP authorization, which competitors lack [11][12] - The final RFP is expected soon, with contract award anticipated by September [14][15] - Current CWMS 2.0 contract expires in November 2025, with task orders extending to November 2026 [15] - **Mobile Anchor Product**: - Enhances identity and access management by placing digital certificates on mobile devices [18][20] - Recent contract wins include the Department of Energy and a Fortune 100 defense contractor [21][22] - **Navy Spiral 4 Contract**: - Total contract value is **$2.7 billion**, with WidePoint positioned as a non-carrier provider [28][30] - Revenue from this contract is expected to ramp up in Q3 2025 [29] - **Device as a Service (DaaS)**: - Significant opportunities in the commercial sector, with a focus on Fortune 100 companies [34][37] - The company is exploring large SaaS deals and partnerships, including with CDW for the LA Olympics [38][39] Financial Insights - **Contract Backlog**: Approximately **$260 million**, expected to decrease as CWMS 2.0 concludes, but will build again with CWMS 3.0 [44] - **Revenue Growth**: - Current CWMS 2.0 contract is valued at **$750 million**; CWMS 3.0 is projected at **$3 billion** over ten years [46] - Gross margins for non-carrier revenue are around **33-34%**, with a goal to reach **50%** by 2027 [63] Operational Efficiency - **Staffing and Operating Leverage**: - New contracts will not require proportional staffing increases, allowing for improved operating leverage [78] - The company has sufficient cash reserves (approximately **$7 million** as of June) and no debt, with a projected cash balance of over **$10 million** by year-end [80][82] M&A Strategy - **Acquisition Criteria**: - Focus on established companies in mobility, cybersecurity, and data analytics that are EBITDA positive [90][92] - The company is not actively seeking acquisitions but remains open to opportunities that align with its operations [89] Conclusion - WidePoint is well-positioned for growth with significant contracts in the pipeline, a strong service offering in mobility management, and a focus on operational efficiency and strategic partnerships. The company aims to enhance its market position while maintaining a healthy financial outlook.

Core Viewpoint - Trifork Group AG has divested 51% of Trifork Security A/S to Wingmen Solutions ApS to enhance its managed security services in Denmark and internationally [1][2]. Group 1: Transaction Details - An agreement has been signed for the sale of 51.0% of Trifork Security A/S to Wingmen Solutions ApS, which is owned by Springboard Network BV and its management [2]. - The transaction is subject to regulatory approval, and upon completion, Trifork Group AG's ownership will decrease from 84.6% to 41.5% [6][7]. - Wingmen Solutions ApS will have the option to acquire the remaining shares of Trifork Security A/S in 2027 after the filing of its 2026 Annual Report [8]. Group 2: Strategic Rationale - Trifork Security A/S is a leading provider of managed services in Denmark, specializing in log management, cybersecurity, and observability based on Splunk [3]. - Wingmen Solutions ApS is a prominent Cisco partner in Denmark, focusing on critical IT infrastructure for both public and private sectors [3][5]. - The partnership aims to leverage both companies' expertise in Cisco and Splunk technologies to enhance service offerings and expand market reach [4][5]. Group 3: Company Profiles - Trifork Group AG is a global technology company with 1,187 employees across 70 business units in 16 countries, specializing in advanced software solutions for various sectors [9]. - Trifork Security A/S employs around 50 experts in log management and cybersecurity, providing managed services and compliance assessments [10]. - Wingmen Solutions employs over 120 specialists and is part of the Springboard Network, focusing on transforming IT infrastructure for organizations [11].

Core Viewpoint - Fundamental Global Inc. is forming a CVR Trust for its common shareholders, providing a special distribution of Contingent Value Rights (CVR) that will entitle holders to future cash distributions and other benefits as the trust liquidates its assets [1][2][3] Group 1: Special Distribution and Trust Formation - Approximately 1.3 million common shareholders will receive a non-transferable CVR, entitling them to an initial cash distribution of $10.00 per common share, expected in September 2025 [2][9] - The CVR Trust will include cash, cash equivalents, and net assets from various operating businesses and equity holdings [6][9] - Future distributions from the CVR Trust may be in cash or in-kind securities as assets are monetized over time [3][9] Group 2: Strategic Transformation - The company has entered a definitive agreement for a $200 million private placement to support its strategic transformation, which includes a name change to FG Nexus Inc. and the implementation of an Ethereum Treasury Strategy [5][7] - The strategic direction focuses on blockchain innovation and the tokenization of real-world assets [5][7] - The company aims to retain approximately $5.00 per share in net asset value through retained holdings and the launch of its new strategy [9]

Core Viewpoint - Fundamental Global Inc. has made significant strides in consolidating its operations and improving its financial performance through strategic mergers and asset sales in 2024 [2][4]. Financial Highlights - Total assets increased to $109.5 million as of December 31, 2024, up by $47.3 million from the previous year [5]. - Stockholders' equity rose to $74.2 million, reflecting an increase of $37.2 million from December 31, 2023 [6]. - Revenue for 2024 was $17.3 million, a 1.5% increase from the previous year, with managed services revenue growing by 20.7% to $32.0 million [7]. - The net loss attributable to common shareholders improved to $2.6 million from a loss of $14.1 million in the prior year, primarily due to a $21.8 million gain on the sale of Strong/MDI [8][9]. Operational Highlights - The company completed three merger transactions in 2024, including the merger with FG Group Holdings Inc. and Strong Global Entertainment, aimed at reducing operating costs and streamlining operations [5]. - A portion of the reinsurance business was agreed to be sold for $5.6 million, expected to close in the first half of 2025 [2]. - The company successfully monetized its Digital Ignition facility and sold its Strong/MDI Screen Systems subsidiary for approximately $30 million [5]. Balance Sheet Overview - As of December 31, 2024, total liabilities were $35.3 million, an increase from $25.1 million in the previous year [15]. - Short- and long-term debt decreased to $2.4 million, down by $5.4 million from December 31, 2023 [7]. - Cash and cash equivalents increased to $7.8 million from $6.0 million in the previous year [21]. Shareholder Information - The weighted average common shares outstanding increased to 1,265 million due to the merger with FG Group Holdings [19]. - The net loss per common share improved to $2.43 from $35.22 in the prior year, reflecting the company's improved financial performance [9].