Note 1 – Restatement of Previously Issued Financial Statements and Nature of Operations

Subsequent to the issuance of the Company’s previously filed unaudited condensed consolidated financial statements for the three months ended January 31, 2026 and the period from June 7, 2025 through January 31, 2026 (the “Successor” period), the Company identified an error in the calculation of the basic and diluted weighted-average number of shares outstanding used to determine basic and diluted EPS. The error understated the basic and diluted weighted-average number of shares outstanding and, as a result, understated basic and diluted EPS for the three months ended January 31, 2026 and overstated basic and diluted EPS for the period from June 7, 2025 through January 31, 2026. Management identified the error in connection with the preparation of the Company’s Annual Report on Form 10-K for the fiscal year ending April 30, 2026.

The restatement impacts only the basic and diluted weighted-average number of shares outstanding and basic and diluted EPS. The restatement had no impact on revenues, expenses, net income (loss), income (loss) before income taxes, total assets, total liabilities, stockholders’ equity, retained earnings or other components of equity, cash flows, or shares of common stock outstanding at period end. Net income (loss) available to common stockholders is unchanged for each affected period.

The following table summarizes the effect of the restatement on the per-share data and weighted-average shares outstanding in the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended January 31, 2026 and the successor period from June 7, 2025 through January 31, 2026. The amounts presented represent the (overstatement)/understatement of the previously reported figures:

Schedule of Restatement

The restatement impacted the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) and the Earnings per Share note within the Notes to Condensed Consolidated Financial Statements. No other financial statement items were affected.

Accordingly, the Company has restated the previously issued financial statements for the periods presented to correct the errors described above. Management believes the restated financial statements present fairly, in all material respects, the Company’s financial position and results of operations for the periods presented.

The following table sets forth the impact of the restatement on the Company’s Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the three months ended January 31, 2026 and the successor period from June 7, 2025 through January 31, 2026, presented as a bridge from the amounts as previously reported to the restatement adjustment and the amounts as restated.