• Executes deliberate transformation designed to simplify its balance sheet, reduce legacy preferred equity, and support its path toward full Nasdaq compliance. The Company has entered into an exchange agreement with the family trusts of its Chief Executive Officer, pursuant to which all remaining Series C Preferred Stock controlled by the CEO's family, which constitutes 90% of the outstanding preferred stock, will be retired and converted into common equity, removing the vast majority of preferred stock from the Company's current capital structure. This action represents a continuation of the Company's previously executed balance sheet initiatives, including the prior elimination of approximately $41 million in mezzanine equity, significantly reducing the Company's stockholders' deficit and simplifying its financial profile.