On top of these results from April 2025 through the end of calendar 2025, we burned only one million in operating cash, which showed that we remain focused on expense management and reducing costs across our business.

Feb 6, 2026 / receipt, needs a key / Jay Yu, CFO | earnings call 2026-02-06 | transcript a1ef61ee-4928-468b-b4ad-b0975b4810f4 | chars 12383-12600 | segment 12

Our strategic focus on high-quality nicotine customers and stringent cost and expense management has achieved solid improvements in our cash flow, operating expenses, and account receivable, allowing us to improve our non-GAAP EBITDA to $600,000 for the first fiscal quarter.

Nov 6, 2025 / receipt, needs a key / Michael Wong, CEO | earnings call 2025-11-06 | transcript 84920817-78d6-4b4a-b821-6602efe0e494 | chars 8113-8388 | segment 8

For the three-month period to September 30, 2025, operating expenses were $7.8 million, down substantially from $12.9 million for the same period last year. This decrease was largely due to the expense management measures we have discussed above.

Nov 6, 2025 / receipt, needs a key / Jay Yu, CFO | earnings call 2025-11-06 | transcript 84920817-78d6-4b4a-b821-6602efe0e494 | chars 6820-7066 | segment 7

The increase in expenses was due primarily to an increase in our marketing campaign and trade shows and an increase in employee headcount related to the expansion of our cannabis business and manufacturing.

May 15, 2024 / receipt, needs a key / Daniel J. Masha, CFO | earnings call 2024-05-15 | transcript 81085503-c452-426e-ab81-eba8c556b6d9 | chars 9173-9379 | segment 9

Our sales and marketing expenses mainly consist of employee salaries and benefits, marketing expenses, travel expenses, and other miscellaneous expenses.

filing / Sep 15, 2026 / receipt

Jie (Jay) Yu was appointed our Chief Financial Officer on May 13, 2025. Prior to his appointment, Mr. Yu served as the Company’s Vice President of Finance since June 2023 and is a seasoned accounting professional with extensive experience in public accounting and audit roles.

filing / Sep 15, 2026 / receipt

(6) Mr. Yu was appointed our Chief Financial Officer on May 13, 2025. From June 2023 to May 13, 2025, Mr. Yu served as our Vice President of Finance.

filing / Sep 15, 2026 / receipt

Our facilities are located primarily in Malaysia and the United States, where we lease more than 37,100 square feet of office and storage space and where our research and development activities are conducted, as compared with 1,850 square feet of office space in Hong Kong.

filing / Sep 15, 2026 / receipt

The decrease was primarily due to (i) a decrease of approximately $5.0 million of payroll expense due to cutting headcount and cost optimization plan in North America, (ii) a decrease of approximately $2.5 million of legal and professional fee from cost optimization plan by North America, (iii) a decrease of approximately $2.2 million of stock-based compensation expense due to cutting headcount in streamline operatio

filing / Sep 15, 2026 / receipt

decrease of approximately $5.0 million of payroll expense due to cutting headcount and cost optimization plan in North America, (ii) a decrease of approximately $2.5 million of legal and professional fee from cost optimization plan by North America, (iii) a decrease of approximately $2.2 million of stock-based compensation expense due to cutting headcount in streamline operations by North America and (iv) a decrease

filing / Sep 15, 2026 / receipt

Jie Yu was appointed our Chief Financial Officer on May 13, 2025. Prior to his appointment, Mr. Yu served as the Company’s Vice President of Finance since June 2023 and is a seasoned accounting professional with extensive experience in public accounting and audit roles.

filing / May 12, 2026 / receipt

McCormick was appointed our Chief Financial Officer on May 17, 2024, and subsequently separated from the Company on May 13, 2025.

filing / May 12, 2026 / receipt

We are pleased to utilize the virtual stockholder meeting technology to provide ready access and cost savings for our stockholders and the Company.

filing / May 12, 2026 / receipt

This process, which is commonly referred to as “householding,” potentially means extra convenience for stockholders and cost savings for companies.

filing / May 12, 2026 / receipt

However, we are expanding our international presence via the launch of nicotine products under the Ispire platform. These products have started to be launched under licensing arrangements with the owners of selected partner brands.

filing / May 7, 2026 / receipt

America and (iii) decrease in legal and professional fees of $0.6 million for the three months ended March 31, 2026 as a result of cost

filing / May 7, 2026 / receipt