On March 14, 2024, the Company (formerly known as Lordstown Motors Corp.), emerged from bankruptcy as a public reporting company. At year-end 2025, the Company’s assets consisted primarily of approximately $34.4 million of unrestricted cash $4.7 million of short-term investments, $5.1 million of restricted short-term investments, and $1.1 billion of net operating loss carry forwards with no expiration date and various causes of action. The Company’s primary operations are: (i) resolving claims filed in the bankruptcy, (ii) prosecuting the Foxconn litigation, (iii) pursuing, compromising, settling or otherwise disposing of other retained causes of action of the Company, and (iv) exploring potential business opportunities, including strategic alternatives or business combinations. On July 15, 2026, Affinity Advisory Holdings Corp., a wholly-owned subsidiary of the Company, completed the acquisition of Affinity Advisory Network, LLC and AAN Wealth Advisors, LLC (Affinity). Founded in 2013 and headquartered in Ohio, Affinity operates an integrated platform combining insurance distribution and registered investment advisory services. Affinity supports a nationwide network of agents and advisors serving clients across more than 700 cities throughout the United States. Affinity has developed proprietary advisor training systems, lead generation infrastructure and client relationship management tools designed to support scalable growth and recurring client engagement.
