NOTE 19 – SUBSEQUENT EVENTS

First Amendment to the Promissory Note

On April 22, 2025, the Company amended its Promissory Note payable to the parent company of EDP by entering into the First Amendment to the Promissory Note dated October 2, 2024. The Promissory Note’s principal balance of $5.7 million was reduced by $0.3 million as a result of the First Amendment. The maturity date and interest rate originally stated in the Promissory Note remain unchanged. As the adjustment was related to negotiations with the seller regarding conditions as of the acquisition date, this was reflected as a recognized subsequent event and an the consideration transferred and goodwill recorded was adjusted as of March 31, 2025. The impact of the First Amendment is reflected in the condensed consolidated balance sheet as of March 31, 2025, and the associated footnotes.

Share Repurchase Plan

On May 13, 2025, our Board of Directors unanimously approved a share repurchase program authorizing the Company to repurchase up to $10 million of our common stock. The plan will remain active until December 31, 2025. The timing and amount of repurchases will be determined by the Company based on its evaluation of market conditions and other factors.

Issuance of Restricted Stock Units

On May 13, 2025, the Company issued an aggregate 143,130 restricted stock units ("RSUs") to five members of the Board of Directors under the 2023 Omnibus Incentive Plan. All of the RSUs are subject to a vesting term of one year and have a grant date price of $2.62 per share.