UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________ to___________ Commission file number 001-38884 FRANKLIN FINANCIAL SERVICES CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 25-1 ...

Financial Performance - Sales for the three months ended March 31, 2025, decreased by approximately 2% to $8,083,756 compared to $8,235,747 for the same period in 2024[109] - For the three months ended March 31, 2025, the total net income was $26,388, with CloudFirst Technologies reporting a net income of $1,077,591[134] - Adjusted EBITDA for the same period was $497,135, with CloudFirst Technologies contributing $1,502,880[134] - For the three months ended March 31, 2024, the total net income was $345,904, with CloudFirst Technologies reporting a net income of $914,372[136] - Adjusted EBITDA for the same period was $680,318, with CloudFirst Technologies contributing $1,273,394[136] Revenue Breakdown - Revenue breakdown for Q1 2025: 44% from equipment and software sales, 42% from cloud infrastructure & disaster recovery services, 10% from managed services, and 4% from Nexxis VoIP services[109] Expenses - Cost of sales for Q1 2025 was $5,223,860, a decrease of $45,415 or 1% compared to $5,269,275 in Q1 2024[112] - Selling, general and administrative expenses increased by $199,728 or 2% to $2,952,405 in Q1 2025, primarily due to higher salaries and professional fees[113] Cash Flow - Cash used in operating activities for Q1 2025 was $1,099,807, compared to $318,624 in Q1 2024, primarily due to a decrease in net income[127] - Net cash provided by investing activities totaled $786,575 in Q1 2025, compared to net cash used of $302,006 in Q1 2024, reflecting a significant increase[128] Working Capital - The Company's working capital increased to $12,440,644 on March 31, 2025, up by $570,730 from $11,869,914 at December 31, 2024[125] Non-GAAP Measures - Non-GAAP adjustments for the three months ended March 31, 2025, included $363,379 for depreciation and amortization and $226,265 for stock-based compensation[134] - Non-GAAP adjustments for the three months ended March 31, 2024, included $295,198 for depreciation and amortization and $171,235 for stock-based compensation[136] - The company emphasizes that Adjusted EBITDA should not be considered in isolation from GAAP results, as it may differ from other companies' measures[132] - The company plans to disclose different non-GAAP financial measures in the future to help investors evaluate its results more meaningfully[132] Strategic Initiatives - The integration of Flagship Solutions into CloudFirst was completed in January 2024, enhancing operational synergies and cross-selling opportunities[107] - Data Storage Corporation expanded into the UK and European markets in October 2024, investing in regional operations and partner recruitment[108] Interest Income - Interest income for the three months ended March 31, 2025, was $(120,906), while for the same period in 2024, it was $(143,369)[134][136] Off-Balance Sheet Arrangements - The company does not have any off-balance sheet arrangements or relationships with unconsolidated entities[131] Recurring Revenue Potential - The Company believes its total contract value of subscription contracts exceeds $10 million, indicating strong recurring revenue potential[123]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-42123 CHENGHE ACQUISITION II CO. (Exact Name of Registrant as Specified in Its Charter) Cayman Islands N/A (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: March 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Table of Contents For the transition period from to Commission File Number: 001-41282 SUNSHINE BIOPHARMA INC. (Exact name of registrant as specified in its charter) Colorado 20-5566275 (State of other j ...

FORM 20-F Commission file number 001-36885 TANTECH HOLDINGS LTD (Exact name of registrant as specified in its charter) Not Applicable (Translation of Registrant's Name into English) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024 OR British Virgin Islands ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission File Number: 000-52994 THE OLB GROUP, INC. (Exact name of registrant as specified in its charter) DELAWARE 13-4188568 (State or other jurisdiction of inco ...

Financial Performance - Total revenues for Q1 2025 were $3,499,159, a decrease of 11.2% from $3,939,743 in Q1 2024[20] - Net loss for Q1 2025 was $19,432,750, compared to a net loss of $15,816,019 in Q1 2024, representing a 23.5% increase in losses[20] - Operating costs increased significantly to $22,041,523 in Q1 2025, up from $16,906,528 in Q1 2024, marking a 30.5% rise[20] - The company reported a significant increase in general and administrative expenses, which rose to $6,740,311 in Q1 2025 from $4,174,817 in Q1 2024, a 61.3% increase[20] - Equity compensation expenses also increased to $11,340,620 in Q1 2025, compared to $9,565,554 in Q1 2024, representing an 18.6% rise[20] - The net loss for the period ending March 31, 2024, was $(15,598,938), reflecting a significant decrease compared to previous periods[23] - For the three months ended March 31, 2025, the net loss was $19,432,750, compared to a net loss of $15,816,019 for the same period in 2024, representing a 23% increase in losses[25] - Net cash used in operating activities was $9,036,985 for Q1 2025, significantly higher than $2,711,868 in Q1 2024, indicating a 233% increase in cash outflow[25] Assets and Liabilities - Cash and cash equivalents decreased to $24,663,106 as of March 31, 2025, down from $37,969,454 as of December 31, 2024, a decline of 34.9%[17] - Total assets increased to $212,882,187 as of March 31, 2025, compared to $178,417,515 as of December 31, 2024, reflecting a growth of 19.3%[17] - Total liabilities rose to $73,550,166 as of March 31, 2025, up from $47,600,277 as of December 31, 2024, an increase of 54.5%[17] - The company’s accumulated deficit increased to $(65,424,938) as of March 31, 2025, compared to $(47,361,208) as of December 31, 2024, indicating a worsening financial position[17] - As of March 31, 2025, total equity amounted to $139,332,021, with an accumulated deficit of $(65,424,938)[23] Cash Flow and Investments - Cash flows from investing activities totaled $24,048,942 in Q1 2025, compared to $8,946,836 in Q1 2024, reflecting a 168% increase in cash used for investments[25] - The company made an investment of $1,999,999 in EIGHT Brewing during Q1 2025[25] - Proceeds from the sale of non-controlling interest equity were $15,967,250 in Q1 2025, compared to $10,375,000 in Q1 2024, representing a 54% increase[25] - The company accepted cash deposits of $3,431,250 for fractional ownership of Luxe FireSuites, with total investments of $13,720,000 recorded as of March 31, 2025[133] Expansion Plans - The company plans to open Roth's Seafood and Chophouse, LLC in fall 2025, which is adjacent to the Ford Amphitheater[45] - The Company plans to open the Sunset amphitheater in McKinney, TX, in Q3 2026 and the Sunset amphitheater in El Paso, TX, in Q4 2026, expanding its operational footprint[50][51] - The company is focusing on market expansion into new areas such as Oklahoma and Texas, with plans for new venues while not anticipating operational profits until these venues are opened[197] - The Company plans to develop a mid-size indoor music venue and a full-size restaurant in Centennial, Colorado, with the acquisition expected to close around July 1, 2025[145] Equity and Financing - The company issued 2,008,750 shares, resulting in an increase of $20,087,500 in equity[23] - The Company completed a private placement offering in 2024, selling 3,300,341 shares of Common Stock for gross proceeds of $32,059,550[130] - An initial public offering on November 26, 2024, generated gross proceeds of $12,000,000 from the sale of 1,200,000 shares at $10.00 per share[131] - The Company issued a $6,000,000 principal amount convertible promissory note on February 28, 2025, with a 12% annual interest rate[116] - The Company issued two convertible promissory notes totaling $6,000,000 on April 4, 2025, with a 12% annual interest rate[144] Operational Challenges - The Company incurred negative cash flows from operations for both the three months ended March 31, 2025, and 2024, raising concerns about operational sustainability[60] - The Company has not recognized any impairment losses during the periods ending March 31, 2025, and March 31, 2024, indicating stable asset valuations[72] - The company is evaluating the impact of ASU No. 2024-03, which requires expanded expense disclosures, to be adopted for fiscal years commencing after December 15, 2026[99] Revenue Generation - Venu generated total revenue of $3,299,226 for the three months ended March 31, 2025, with $2,044,916 (58%) from Restaurant Operations, $1,264,910 (36%) from Event Operations, and $189,333 (5%) from Amphitheater Operations[167][169][170] - The Ford Amphitheater, which opened in August 2024, has a capacity of 8,000 and includes 92 VIP firepit suites accommodating a total of 736 guests[158] - Venu's partnership with AEG for the operation of Ford Amphitheater is expected to enhance revenue through ticket sales, venue rentals, and sponsorship sales[170] Cost Management - Total advertising expenses increased to approximately $1,494,456 for Q1 2025, up from $713,125 in Q1 2024, representing a growth of 109%[79] - The company experienced a significant increase in rental costs, which rose by $67,919 or 23% during the three months ended March 31, 2025, compared to the same period in 2024[182] - Depreciation and amortization expenses for property and equipment were $1,358,685 for the three months ended March 31, 2025, compared to $589,784 for the same period in 2024, indicating a significant increase of 130%[101]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURI ...

Financial Performance - Cryptocurrency mining revenue decreased to $2,999,000 in Q1 2025 from $6,396,000 in Q1 2024, a decline of approximately 53%[33] - Total revenue for Q1 2025 was $5,936,000, down from $12,549,000 in Q1 2024, representing a decrease of about 53%[33] - Net loss attributable to Soluna Holdings, Inc. was $7,556,000 in Q1 2025 compared to a net loss of $5,254,000 in Q1 2024, indicating a worsening of approximately 44%[33] - Basic and diluted loss per share for Q1 2025 was $0.88, compared to $2.62 in Q1 2024[33] - For the three months ended March 31, 2025, the net loss was $7.354 million, compared to a net loss of $2.544 million for the same period in 2024, indicating a significant increase in losses[41] - The company reported a net loss of $10,873,000 for the quarter ending March 31, 2024, compared to a net loss of $5,254,000 for the previous quarter[36] Assets and Liabilities - Total current assets increased to $15,758,000 as of March 31, 2025, up from $13,495,000 as of December 31, 2024, reflecting a growth of about 17%[30] - Total assets rose to $90,049,000 as of March 31, 2025, compared to $88,040,000 as of December 31, 2024, an increase of approximately 2%[31] - Total liabilities increased to $63,056,000 as of March 31, 2025, up from $60,678,000 as of December 31, 2024, a rise of about 4%[31] - The total accumulated deficit increased to $314,304,000 by December 31, 2024, reflecting ongoing financial challenges[37] Cash Flow and Expenditures - The company’s cash position improved to $9,161,000 as of March 31, 2025, compared to $7,843,000 as of December 31, 2024, an increase of about 17%[30] - Operating cash flow for the three months ended March 31, 2025, was a net cash used of $177 thousand, a decrease from net cash provided of $3.850 million in the same period of 2024[41] - The company incurred $3.808 million in capital expenditures for property, plant, and equipment during the three months ended March 31, 2025, compared to $524 thousand in the same period of 2024[41] Debt and Financing - The company has significant outstanding debt and negative working capital as of March 31, 2025, raising concerns about its ability to continue as a going concern[47] - Total debt as of March 31, 2025, is $24,038,000, consisting of $13,848,000 in current debt and $10,190,000 in long-term debt[75] - The company executed a warrant exercise resulting in the issuance of 530,776 shares during the quarter ending September 30, 2024[37] - The company is exploring various financing strategies, including stock issuances and debt borrowings, to meet its financial obligations and support growth[48] Stock and Equity - The total number of common stock shares increased to 7,690,219 as of September 30, 2024, up from 2,882,231 shares as of March 31, 2024[37] - The Company issued 1,000,000 shares of common stock to the Investor on April 29, 2025, as part of the agreement[86] - As of March 31, 2025, the Company had approximately $9.2 million in cash on hand and has drawn approximately $2.0 million from a Standby Equity Purchase Agreement (SEPA) to fund operations and projects[49] Operational Changes - The company transitioned its focus at Project Sophie from proprietary Bitcoin mining to hosting customers' Bitcoin mining operations in Q2 2023[45] - The Company plans to focus on providing colocation services at data centers for AI generative customers after exiting active provision of HPC services[204] Segment Performance - The Cryptocurrency Mining segment generates revenue from Bitcoin mining activities, primarily from Project Dorothy[207] - The High-Performance Computing Services segment began generating revenue in December 2024, with minimal revenue reported for the three months ended March 31, 2025[207] - Demand response revenue contributed $507 million to total revenue in Q1 2025[209] - Segment operating income for Data Center Hosting was $543 million, while Cryptocurrency Mining reported an operating loss of $67 million[209] Future Outlook - The Company plans to continue evaluating different financing strategies to support operations in fiscal year 2025[50] - Future growth may be driven by the integration of new technologies and market expansion strategies[208]