Risk factors

Commercial real estate loans grew to $414.9 million, representing 37.3% of the total loan portfolio at year-end 2025. One-to-four family residential mortgage loans increased to $375.3 million, or 33.8% of total loans. Consumer price index inflation figures were updated to reflect 2.7% for 2025.

The company added numerous governance and compliance risks regarding internal controls, acquisitions, and capital raises. Customer concentration figures shifted, with two customers representing 38 percent and 17 percent of gross sales.

Recapitalization transactions in October 2025 significantly reduced debt and added capital, but compliance issues and board transitions follow.

Saga Communications completed a sale-leaseback transaction for its radio towers, adding new real estate lease risks.

Financial restatements and material weaknesses in internal controls threaten investor confidence and spark litigation risks. Tariff expirations, supply chain bottlenecks, and reduced government incentives challenge solar operations. Legal judgments and potential share repurchases strain available cash reserves.

Company is expanding its digital asset and payment processing footprint while increasing focus on regulatory compliance, international operations, and cyber security.

The company added public-listing and Nasdaq compliance risks, updated financial metrics for 2025, and expanded supplier and currency exposures.

Net losses widened significantly to $39.1 million in 2025, triggering going concern doubts with $0.4 million in cash.

The company transitioned its core operations toward cryptocurrency mining, investing $29 million and acquiring approximately 3,100 ASIC miners.

New Fortress Energy entered a Restructuring Support Agreement in March 2026 to restructure funded debt via UK Restructuring Plans and Chapter 15 bankruptcy, raising substantial going concern doubts.

Wetouch Technology added customer concentration risk details for fiscal 2025 and dropped tax incentive, intellectual property, and internal control remediation risks.

The company faces heightened risks from 2025 tariff changes, customer concentration, and ongoing internal control weaknesses.