Exhibit 99.3

HANSEN & ADKINS, INC. AND SUBSIDIARIES

CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2025 AND 2024

TABLE OF CONTENTS

INDEPENDENT AUDITORS’ REPORT

To the Stockholders of

Hansen & Adkins, Inc. and subsidiaries:

Opinion

We have audited the accompanying consolidated financial statements of Hansen & Adkins, Inc. and its subsidiaries, which comprise the consolidated balance sheets as of December 31, 2025 and 2024, the related consolidated statements of operations, changes in stockholders’ equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Hansen & Adkins, Inc. and its subsidiaries (the Company) as of December 31, 2025 and 2024, and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Responsibilities of Management for the Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the consolidated financial statements are available to be issued.

Auditors’ Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and, therefore, is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the consolidated financial statements.

In performing an audit in accordance with generally accepted auditing standards, we:

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

/s/ Windes, Inc.

Long Beach, California

April 13, 2026

HANSEN & ADKINS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

The accompanying notes are an integral part of these consolidated financial statements.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

The accompanying notes are an integral part of these consolidated financial statements.

HANSEN & ADKINS, INC. AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

The accompanying notes are an integral part of these consolidated financial statements.

HANSEN & ADKINS, INC. AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF CASH FLOWS

The accompanying notes are an integral part of these consolidated financial statements.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 1 – Summary of Significant Accounting Policies

Nature of Business

Hansen & Adkins, Inc. (Hansen & Adkins) was incorporated under the laws of the state of California to provide vehicle transportation and related services throughout the United States. Hansen & Adkins was formed in April 1994.

Basis of Accounting

The accompanying consolidated financial statements have been prepared on the accrual basis in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP).

Consolidation of Subsidiaries

These consolidated financial statements include the accounts of Hansen & Adkins and its wholly owned subsidiaries, Hansen & Adkins Auto Transport, Inc. (H&A Auto Transport), Hansen & Adkins Auto Logistics, Inc. (H&A Auto Logistics), and Royal Truck Leasing, LLC (Royal), a variable interest entity, (collectively, the Company). All significant intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates and Assumptions

The preparation of the consolidated financial statements, in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP), requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Significant items subject to such estimates and assumptions include valuation of accounts receivable, the useful lives of property and equipment, accrued expenses, including damage claims, and accrued workers’ compensation. Actual results could differ from those estimates.

Cash and Cash Equivalents

For the purposes of the consolidated balance sheets and consolidated statements of cash flows, the Company considers cash on hand and all highly liquid debt instruments purchased with original maturities of three months or less to be cash and cash equivalents.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 1 – Summary of Significant Accounting Policies (Continued)

Accounts Receivable

The Company extends credit to its customers in the ordinary course of business and mitigates related credit risk by actively pursuing past due accounts. The Company measures expected credit losses on a collective basis when similar characteristics exist using historical experience, current economic conditions, credit ratings, and other relevant factors in its credit estimation process and provides for probable uncollectible amounts through a charge to earnings and a credit to an allowance for credit losses based on its assessment.

Balances that are still outstanding after management has made reasonable collection efforts are written off through a charge to the allowance for credit losses and a credit to accounts receivable. The Company maintained an allowance for credit losses of $654,890 and $205,483 at December 31, 2025 and 2024, respectively. The Company recognized credit loss expenses of $1,440,000 and $456,000 during the years ended December 31, 2025 and 2024, respectively.

In July 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The guidance introduces a practical expedient and an accounting policy election that simplify the application of the current expected credit loss (CECL) model for current accounts receivable and current contract assets arising from revenue transactions accounted for under Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers.

The amendments allow all entities to elect a practical expedient under which current conditions as of the consolidated balance sheet date are assumed not to change over the remaining life of the asset, eliminating the need to develop and document reasonable and supportable forecasts when estimating expected credit losses for assets within the scope of the guidance. In addition, entities other than public business entities may elect an accounting policy to consider collection activity occurring after the consolidated balance sheet date but before the consolidated financial statements are available to be issued when estimating expected credit losses.

Management has elected early adoption of ASU 2025-05 during the current reporting period. The adoption was applied prospectively, as required by the standard. Upon adoption, management elected the practical expedient to assume that current conditions as of December 31, 2025 remain unchanged for the remaining life of accounts receivable. Management has also elected the accounting policy to consider subsequent collection activity through April 13, 2026 when estimating expected credit losses. Accounts receivable collected prior to that date are excluded from the allowance for credit losses. The adoption of ASU 2025-05 did not have a material impact on the Company’s financial position or results of operations.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 1 – Summary of Significant Accounting Policies (Continued)

Concentration of Business and Credit Risk

The Company maintains its cash and cash equivalents at major financial institutions in deposit accounts insured by the Federal Deposit Insurance Corporation. At times, such amounts may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk.

The Company’s business is concentrated in the transportation of automobiles and related services;

therefore, the performance of the Company could be affected by industry trends.

Three customers comprised approximately 55% and 51% of total sales during the years ended December 31, 2025 and 2024, respectively. These customers represented approximately 50% and 49% of total accounts receivable at December 31, 2025 and 2024, respectively.

Property and Equipment

Property and equipment items are stated at cost. Depreciation is computed on a straight-line basis over the estimated useful lives of the related assets, which range from three to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of their estimated useful lives or the lease term. Expenditures for maintenance and repairs are expensed as incurred, and expenditures that increase the value or productive capacity of assets are capitalized.

Impairment of Long-Lived Assets

Long-lived assets, such as property and equipment, are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Recoverability of assets is measured by comparison of the carrying amount of the asset to the net undiscounted future cash flows expected to be generated from the asset. If the future undiscounted cash flows are not sufficient to recover the carrying value of the asset, the asset’s carrying value is adjusted to fair value. To date, no impairment has been recorded.

Fair Value of Financial Instruments

Financial instruments primarily consist of accounts receivable, accounts payable, accrued expenses, and notes payable. The fair value of accounts receivable, accounts payable, and accrued expenses closely approximates their carrying value due to their short-term maturities. The carrying amounts of substantially all of the Company’s outstanding notes payable approximate fair value because their interest rates are based on variable reference rates or rates approximating those currently available to the Company for debt with similar terms.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 1 – Summary of Significant Accounting Policies (Continued)

Accrued Workers’ Compensation

The Company carries insurance policies to cover various risks, primarily general liability and workers’ compensation, under which the Company is liable to reimburse the insurance carrier for a portion of each claim paid. The Company is self-insured for the first $250,000 of each workers’ compensation claim. The Company has accrued a liability for all known claims, as well as those that are incurred but not reported.

Revenue Recognition

The Company primarily derives its revenue from vehicle transportation and related services.

Revenue from contracts with customers is recognized over time as services are performed, as control is continuously transferred to the customer and the customer simultaneously receives and consumes the benefits of the services. Revenue is measured as the amount of total consideration expected to be received in exchange for providing services.

A performance obligation is a promise in a contract to transfer a distinct good or service to the customer and is defined as the unit of account. For all contracts with customers, the Company contracts to provide distinct services for an established rate, such as the movement of an automobile from a port of entry to a dealership. For any contracts with multiple performance obligations, the transaction price is allocated to each performance obligation based on the relative standalone selling price of each distinct service in the contract. The relative standalone selling price of each distinct service is generally observable as they are described in each contract. None of the Company’s contracts contain volume-based discounts.

Contract assets relate to the Company’s right to payments for performance completed to date under a contract. Accounts receivable are recorded when the right to payment becomes unconditional.

Contract liabilities relate to payments received in advance of performance under a contract. The Company has no contract liabilities at December 31, 2025 or 2024.

A summary of accounts receivable is as follows:

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 1 – Summary of Significant Accounting Policies (Continued)

Revenue Recognition (Continued)

The following table presents disaggregated sales recognized by geographic area:

Variable Interest Entities

Hansen & Adkins consolidates the assets, liabilities, and results of operations of variable interest entities (VIEs) for which it is the primary beneficiary. Hansen & Adkins has determined that Royal is a VIE for which it is the primary beneficiary and, accordingly, has consolidated Royal in its financial statements as of and for the years ended December 31, 2025 and 2024.

As a limited liability company (LLC), the members of Royal are not personally liable for the debts, obligations, or liabilities of Royal. The liabilities of Royal consolidated by Hansen & Adkins do not represent additional claims on Hansen & Adkins’ general assets; rather, they represent claims against specific assets of Royal. Likewise, the assets of Royal consolidated by Hansen & Adkins do not represent additional assets available to satisfy the claims against Hansen & Adkins’ general liabilities.

Income Taxes

The Company’s stockholders have elected to be taxed as an S corporation for federal and state tax purposes and, as such, the income is taxed directly to the stockholders. There is a 1.5% California franchise tax charged at the corporate level. The Company operates in other state tax jurisdictions that may not recognize S corporation status, resulting in tax being assessed to the Company.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 1 – Summary of Significant Accounting Policies (Continued)

Income Taxes (Continued)

Income taxes are not provided for Royal, since taxable earnings or losses of an LLC are reported by, and are the responsibility of, individual members.

The Company recognizes the effect of income tax positions taken or expected to be taken in a tax return only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

The Company’s income tax filings are subject to audit by various taxing authorities. The Company’s open audit periods are generally three and four years for federal and state tax filings, respectively.

Leasing Arrangements

The Company determines if an arrangement contains a lease at inception based on whether the Company has the right to control the asset during the contract period and other facts and circumstances.

The Company’s policy for determining its lease discount rate used for measuring lease liabilities is to use the rate implicit in the lease whenever that rate is readily determinable. If the rate implicit in the lease is not readily determinable, then the Company has elected to use the risk-free discount rate, as permitted by U.S. GAAP, determined using a period comparable with that of the lease term.

The Company has elected a policy to account for short-term leases, defined as any lease with a term less than 12 months, by recognizing all components of the lease payment in the consolidated statements of operations in the period in which the obligation for the payments is incurred.

The Company has evaluated all lease arrangements and determined that they’ve met the definition of short-term leases or are below its capitalization policy.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 1 – Summary of Significant Accounting Policies (Continued)

Common Control Leasing Arrangements

Accounting Standards Update (ASU) 2023-01, Leases, the updated guidance on common control leasing arrangements, permits a private company lessee (the reporting entity) to elect an accounting alternative not to apply VIE guidance to a commonly controlled lessor entity if (a) the private company lessee and the lessor entity are under common control, (b) the private company lessee has a lease arrangement with the lessor entity, (c) substantially all of the activities between the private company lessee and the lessor entity are related to leasing activities (including supporting leasing activities) between those two entities, and (d) if the private company lessee explicitly guarantees or provides collateral for any obligation of the lessor entity related to the asset leased by the private company, and the principal amount of the obligation at inception of such guarantee or collateral arrangement does not exceed the value of the asset leased by the private company from the lessor entity. The Company has elected not to apply VIE guidance to Farquhar Investments, LLC (Farquhar), a commonly controlled lessor (see Note 8). The Company has determined that the leasing arrangement with Farquhar meets the established criteria in the updated guidance and falls under its short-term lease policy election.

Insurance Financing Arrangements

The Company entered into various arrangements to finance certain business insurance premiums, which require payments of up to $327,373 and expire at various dates through June 2026. As of December 31, 2025 and 2024, amounts outstanding under these arrangements totaled $2,239,733 and $1,758,589, respectively, and are included in accrued expenses on the consolidated balance sheets.

Reclassifications

Certain amounts related to the prior year consolidated financial statements have been reclassified to conform to the current year consolidated financial statement presentation.

Subsequent Events

Management has evaluated subsequent events from the date of the consolidated balance sheets through April 13, 2026, the date the consolidated financial statements were available to be issued and determined there were no items to disclose.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 2 – Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

NOTE 3 – Notes Receivable

Notes receivable consist of the following:

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 3 – Notes Receivable (Continued)

NOTE 4 – Property and Equipment

Property and equipment consist of the following:

Depreciation and amortization expense for the years ended December 31, 2025 and 2024 totaled $10,210,520 and $9,015,638, respectively.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 5 – Accrued Expenses

Accrued expenses consist of the following:

NOTE 6 – Line of Credit

The Company entered into a line of credit agreement with a bank whereby the Company may borrow up to $20 million. Outstanding balances under this agreement incur interest at the Prime Rate. As of December 31, 2025, there were no amounts outstanding under this line of credit, and the Company had outstanding standby letters of credit of approximately $5,300,000. The agreement contains certain restrictive covenants, required financial reporting, and was secured by substantially all of the Company’s assets. The Company was in compliance with these covenants as of December 31, 2025. This credit agreement matures in August 2028.

The agreement allows for two term loans, Term Loan A and Term Loan B, in addition to the line of credit. Term Loan A and Term Loan B are subject to restrictions and allow for principal balances up to $6 million and $10 million, respectively. As of December 31, 2025, there was $3,300,000 outstanding under Term Loan A and $8,075,000 outstanding under Term Loan B. The interest rates charged under each loan depend on certain criteria as determined by the agreement.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 7 – Notes Payable

Notes payable consist of the following:

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 7 – Notes Payable (Continued)

Future maturities of the notes payable as of December 31, 2025 are as follows:

NOTE 8 – Related-Party Transactions

Leasing Activities

The Company leases offices from Farquhar, a related party by common ownership. The lease requires monthly rental payments totaling $103,210 and is on a written month-to-month arrangement. Total related-party rental expense under this agreement was $1,238,519 and $1,326,365 for the years ended December 31, 2025 and 2024, respectively.

Due from Stockholders

At December 31, 2025 and 2024, the Company had advances outstanding from stockholders totaling $633,830 and $622,035, respectively. The amounts are noninterest bearing and repayment terms have not been established.

Notes Receivable from Related Parties

At December 31, 2025 and 2024, the Company has notes receivable from related parties, as discussed in Note 3.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 9 – Commitments and Contingencies

Operating Leases

In addition to its related-party leases, the Company also leases equipment and facilities under operating leases that the Company considers either to be short-term in nature or below its established capitalization threshold. Rent expense for the years ended December 31, 2025 and 2024 totaled $4,478,704 and $3,431,032, respectively.

Legal Proceedings

The Company may be subject to various legal proceedings and claims arising in the ordinary course of its business. While the ultimate outcome of these matters is difficult to predict, management recognizes any anticipated losses in excess of insurance limits as expense when they become both probable and reasonably estimable. Management believes that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position or results of operations.

During the year ended December 31, 2024, the Company settled two pending lawsuits. As a result, the Company accrued $8.6 million within accounts payable on the consolidated balance sheets and recorded the corresponding expense within other income (expense) on the consolidated statements of operations. At December 31, 2025, $500,000 of the settlement is accrued within accounts payable on the consolidated balance sheets.

NOTE 10 – Employee Benefit Plan

The Company offers a defined contribution employee benefit plan (the Plan) that includes a savings plan under Section 401(k) of the Internal Revenue Code. The Plan covers substantially all employees who have completed three months of consecutive service and are at least 21 years of age. Employees may contribute up to the maximum amount allowed by law, subject to certain Internal Revenue Service limitations. The Company makes a 25% matching contribution on employee contributions to the Plan. The Company may also make annual discretionary profit-sharing contributions. Employees are immediately vested in their contributions and are vested over a period of five years for employer contributions. During the years ended December 31, 2025 and 2024, the Company contributed $971,849 and $862,784, respectively, to the Plan.

HANSEN & ADKINS, INC. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS DECEMBER 31, 2025 AND 2024

NOTE 11 – Supplemental Disclosures of Cash Flow Information

Cash paid for interest was $3,728,335 and $1,902,632 for the years ended December 31, 2025 and 2024, respectively.

Supplemental Schedule of Noncash Investing and Financing Activities

During the years ended December 31, 2025 and 2024, the Company sold equipment and vehicles for notes receivable totaling $41,343 and $277,000, respectively.

During the years ended December 31, 2025 and 2024, the Company financed $37,073,711 and $17,292,123 of equipment and vehicle purchases, respectively.

INDEPENDENT AUDITORS’ REPORT

ON SUPPLEMENTARY FINANCIAL INFORMATION

To the Stockholders of

Hansen & Adkins, Inc. and subsidiaries:

We have audited the consolidated financial statements of Hansen & Adkins, Inc. and its subsidiaries as of and for the years ended December 31, 2025 and 2024, and our report thereon dated April 13, 2026, which expressed an unmodified opinion on those consolidated financial statements, appears on pages 1-2. Our audits were conducted for the purpose of forming an opinion on the consolidated financial statements as a whole. The consolidating financial statements on pages 23-27 are presented for purposes of additional analysis and are not a required part of the consolidated financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the consolidated financial statements. The information has been subjected to the auditing procedures applied in the audits of the consolidated financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the consolidated financial statements or to the consolidated financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the consolidated financial statements as a whole.

/s/ Windes, Inc.

Long Beach, California

April 13, 2026

HANSEN & ADKINS, INC. AND SUBSIDIARIES

CONSOLIDATING BALANCE SHEET DECEMBER 31, 2025

See Independent Auditors’ Report on Supplementary Financial Information on Page 20

HANSEN & ADKINS, INC. AND SUBSIDIARIES

CONSOLIDATING BALANCE SHEET DECEMBER 31, 2024

See Independent Auditors’ Report on Supplementary Financial Information on Page 20

HANSEN & ADKINS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2025

See Independent Auditors’ Report on Supplementary Financial Information on Page 20

HANSEN & ADKINS, INC. AND SUBSIDIARIES

CONSOLIDATING STATEMENT OF OPERATIONS
FOR THE YEAR ENDED DECEMBER 31, 2024

See Independent Auditors’ Report on Supplementary Financial Information on Page 20

HANSEN & ADKINS, INC. AND SUBSIDIARIES 

CONSOLIDATING STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
FOR THE YEARS ENDED DECEMBER 31, 2025 AND 2024

See Independent Auditors’ Report on Supplementary Financial Information on Page 20