Chris Panagiotakos

“As previously discussed, on September 11, 2025, we closed the sale of our cloud-first business for $40 million. As a result of the transaction, and in accordance with auditing and reporting standards, our ongoing financial reporting now reflects only our continuing operations, specifically our Nexus subsidiary.”

“As Chuck mentioned, on September 11, 2025, we closed the sale of our CloudFirst business for $40 million. At the time of the sale, CloudFirst was projected to generate approximately $25 million in annual revenue and $5.5 million in EBITDA with no debt.”

“Total revenue for the 3 months ended March 31, 2025, was $8.1 million, a decrease of approximately 2% compared to $8.2 million for the 3 months ended March 31, 2024.”

“Total revenue for the three months ended September 30, 2024 was $5.8 million, a decrease of approximately $178,000 or 3% compared to $6 million for the three months ended September 30, 2023.”

“Total revenue for the three months ended June 30, 2024, was $4.9 million, a decrease of approximately $1 million or 17% compared to $5.9 million for the three months ended June 30, 2023.”