NOTE 12 – SUBSEQUENT EVENTS

Management has evaluated subsequent events for disclosure and/or recognition in the financial statements through the date that the financial statements were issued.

Subsequent to September 30, 2026, the Company paid down its interest-bearing portion of its outstanding balance of $6.6 million on its floorplan inventory financing revolving lines of credit, which had a weighted average interest rate of 7.20%.

Subsequent to the quarter end, on October 6, 2026, the Company awarded a total of 97,227 Performance Stock Units in the form of restricted common stock to four employees, pursuant to their employment agreements. The grant date fair value of these restricted stock grants was $1.5 million. The vesting of these restricted shares of stock is subject to the achievement of certain previously established performance milestones. The determination of if and when these performance milestones have been achieved will be decided after the Company files its Annual Report on Form 10-K for the year ending December 31, 2028.

On October 28, 2026, the Company drew down $20 million on its unsecured line of credit.

On October 29, 2026, the Company paid off one mortgage totaling approximately $12.9 million.