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 ...

Washington, D.C. 20549 UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q (MARK ONE) ☒ 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: 001-42408 MEDICUS PHARMA LTD. (Exact Name of Registrant as Specified in Its Charter) | Ontario, Canada | 98-1778211 | | --- ...

Table of Contents 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 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: 001-38149 RBB BANCORP (Exact name of registrant as specified in its charter) California 27-2776416 ...

Table of Contents 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 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number:001-34743 HALLADOR ENERGY COMPANY Registrant's telephone number, including area code: 812.299.2800 (www.halladorenergy.com) Colorado 84-1014610 (State of incor ...

Disclaimer This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the current views of Lument Finance Trust, Inc. (NYSE: LFT) ("LFT," the "Company," "we," "our," or "us") with respect to, among other things, the Company's operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "indi ...

Revenue Performance - Total revenue for the three months ended March 31, 2025, was $54.1 million, a 3% increase from $52.4 million in the same period of 2024, driven by a $1.8 million increase in product revenue [128]. - Product revenue accounted for 93% of total revenue in both Q1 2025 and Q1 2024, with product revenue increasing to $50.4 million in Q1 2025 from $48.6 million in Q1 2024, a 4% increase [128]. - Approximately 63% of product revenues for the three months ended March 31, 2025, were recognized from shipments to customer locations in Asia [122]. Operating Expenses - Operating expenses decreased by 9% to $93.0 million in Q1 2025 from $102.0 million in Q1 2024, primarily due to a 15% reduction in research and development expenses [129]. - Research and development expenses for Q1 2025 were $42.1 million, down from $49.6 million in Q1 2024, reflecting a $7.5 million decrease [130]. - The company expects research and development expenses to stabilize over time following the recent decreases [130]. Cash Flow and Financial Position - As of March 31, 2025, the company had cash and cash equivalents of $246.9 million [146]. - For the three months ended March 31, 2025, net cash used in operating activities was $29.0 million, a 210% increase from $9.3 million in the same period of 2024 [147][149]. - The company reported a net cash used in investing activities of $2.4 million for the three months ended March 31, 2025, down from $5.5 million in 2024 [150]. - Net cash used in financing activities for the three months ended March 31, 2025 was $4.7 million, compared to a net cash provided of $6.9 million in the same period of 2024 [151][152]. - As of March 31, 2025, the company’s investment portfolio, including cash and cash equivalents, totals approximately $246.9 million [161]. Debt and Obligations - The company issued $218.5 million in aggregate principal amount of 2029 Notes, with approximately $23.4 million used for capped call transactions [144]. - Future material cash obligations total $462.5 million, including $390.5 million in debt obligations [154]. Interest Income and Expenses - Interest income increased by 73% to $2.3 million in Q1 2025 from $1.3 million in Q1 2024, attributed to higher cash balances [133]. - Interest expense rose by 114% to $4.5 million in Q1 2025 from $2.1 million in Q1 2024, primarily due to the addition of the 2029 Notes [134]. Foreign Currency and Risks - The company experienced a foreign currency translation exchange loss of $0.7 million for the three months ended March 31, 2025, compared to a loss of $0.2 million in 2024 [159]. - The company plans to enter into additional foreign currency forward contracts to mitigate currency fluctuation risks [160]. Other Financial Activities - The net gain from changes in fair value of contingent considerations and acquisition-related holdbacks was $4.8 million in Q1 2025, down from $15.4 million in Q1 2024, a decrease of 69% [135]. - Wuxi employees exercised options contributing a total capital of CNY 88.0 million (approximately $12.3 million) for a potential IPO in China [141]. - As of March 31, 2025, the company had raised gross proceeds of $90.2 million through the ATM Agreement, with approximately $59.8 million available for future issuances [140].

Revenue Performance - Total revenues decreased by $0.9 million or 0.5% from the prior year period, with IHT segment revenue increasing by $6.8 million or 6.8% and MS segment revenue decreasing by $7.7 million or 7.7%[109] - IHT segment revenue growth was driven by a $7.8 million increase in U.S. operations revenue, attributed to higher turnaround and capital projects activity[109] - MS segment revenue decline was mainly due to lower turnaround activities and callout projects in the U.S. and international areas[109] Operating Performance - Operating loss improved by $0.4 million or 6.0% to $6.0 million, with IHT operating income increasing by $3.5 million or 67.7% and MS operating income decreasing by $5.2 million or 127.2%[110] - Corporate operating loss decreased by $2.1 million compared to the prior year period, primarily due to lower personnel and professional services costs[110] - Non-core expenses totaled $3.0 million in Q1 2025, leading to an operating loss of $3.0 million when excluding these items[112] Financial Position - The company regained compliance with NYSE continued listing standards as of March 14, 2025[105] - Total debt and finance obligations increased to $353.6 million as of March 31, 2025, compared to $325.1 million at December 31, 2024[139] - The company is in compliance with its debt covenants as of March 31, 2025, which is crucial for maintaining financial stability[135] Cash Flow and Liquidity - Free cash flow for Q1 2025 was $(30.067) million, compared to $(1.130) million in Q1 2024, showing a significant decline in cash flow[122] - Consolidated cash and cash equivalents of $8.6 million as of May 8, 2025, with total liquidity amounting to $23.8 million[136] - The company’s liquidity assessment indicates sufficient working capital and cash flow to fund operations and service debt for the next twelve months[129] Adjusted Financial Metrics - Adjusted net loss for Q1 2025 was $14.869 million, compared to $14.719 million in Q1 2024, reflecting a slight increase in losses[122] - Consolidated adjusted EBITDA for Q1 2025 was $5.310 million, down from $6.507 million in Q1 2024, indicating a decrease of approximately 18.4%[122] - Segment adjusted EBITDA for the IHT segment increased to $11.624 million in Q1 2025 from $8.349 million in Q1 2024, representing a growth of approximately 39.3%[127] - The MS segment reported an adjusted EBITDA of $3.494 million in Q1 2025, down from $9.147 million in Q1 2024, reflecting a decrease of approximately 61.8%[127] Cash Flow Activities - For the three months ended March 31, 2025, net cash used in operating activities was $28.7 million, a decrease of $30.5 million compared to net cash provided by operating activities of $1.9 million in the 2024 period[140] - Net cash used in investing activities for the three months ended March 31, 2025 was $1.4 million, compared to $3.0 million in the same period of 2024[142] - Net cash provided by financing activities was $11.2 million for the three months ended March 31, 2025, primarily from net borrowings under the Revolving Credit Loans[143] Debt and Refinancing - Loss on debt extinguishment amounted to $11.9 million due to refinancing transactions, including $7.4 million of unamortized debt issuance cost written off[114] - Recent refinancing transactions were completed on March 12, 2025, to improve the company's financial position[133] - Cash flows from financing activities included $8.1 million in debt issuance costs related to refinancing transactions as of March 12, 2025[144] Foreign Exchange and International Operations - The effect of foreign exchange rate changes on cash was positive $0.1 million for the three months ended March 31, 2025, compared to negative $0.3 million in 2024[146] - International cash balances as of March 31, 2025 were $4.8 million, with approximately $1.1 million located in countries with currency or regulatory restrictions[137] Working Capital - The company experienced higher negative working capital impacts of $23.7 million primarily due to an increase in accounts receivable[140]

Financial Performance - The company incurred a net loss of $20,707 during the three months ended March 31, 2025, and has not yet achieved profitability [117]. - Total revenue for Q1 2025 decreased by $16,814 or 45%, to $20,754 compared to $37,568 in Q1 2024 [127]. - Revenue from product sales was $8,381 in Q1 2025, a decrease of $19,127 or 70% from $27,508 in Q1 2024, attributed to decreased unit sales and product mix [128]. - Charging service revenue increased by $1,753 or 35% to $6,780 in Q1 2025, driven by higher utilization of chargers and an increased number of chargers on the network [129]. - Network fee revenues rose by $561 or 27% to $2,626 in Q1 2025, due to an increase in host-owned units [130]. - Gross profit for Q1 2025 was $7,369, down $6,050 or 45% from $13,419 in Q1 2024 [135]. - Net loss increased by $3,534 or 21% to $20,707 in Q1 2025 compared to $17,173 in Q1 2024, primarily due to decreased gross profit [150]. Cash and Working Capital - Blink's cash and cash equivalents stood at $42,024, with working capital of $65,720 and an accumulated deficit of $756,562 as of March 31, 2025 [117]. - Cash and cash equivalents as of March 31, 2025, were $42,024, up from $41,774 as of December 31, 2024 [152]. - Working capital decreased to $65,720 as of March 31, 2025, from $81,908 as of December 31, 2024 [152]. - The company used cash of $11,855 in operations for Q1 2025, down from $21,476 in Q1 2024, primarily due to the net loss adjusted for non-cash expenses [153]. - For the three months ended March 31, 2025, the company reported a net loss of $20,707 and used $11,855 of cash in operating activities, indicating ongoing cash outflows and lack of profitability [156]. - The company expects to continue incurring cash outflows from operations, with future operating needs including costs to fund working capital and capital expenditures [156]. Business Operations and Strategy - Blink plans to expand its operations through strategic domestic and international acquisitions, although risks include integration difficulties and market conditions [125]. - The Blink Networks provide cloud-based services for remote monitoring and management of EV charging stations, enhancing operational efficiency [112]. - Blink offers a variety of EV charging products, including Level 2 chargers and DC Fast Charging equipment ranging from 30kW to 360kW [121]. - The company has deployed, contracted, or sold a total of 112,186 units of EV chargers, including public and private chargers [116]. - Blink's business models include turnkey, hybrid, and host-owned models, each with different revenue-sharing structures with Property Partners [115]. - The EV charging equipment and service market is highly competitive, with increasing competition expected as new entrants join the market [122]. Financing Activities - During the three months ended March 31, 2025, cash provided by financing activities was $883, primarily from the sale of common stock, while cash used in financing activities for the same period in 2024 was $6,703 [155]. - The company sold 681,330 shares of common stock under an "at-the-market" equity offering program for gross proceeds of $909 during the three months ended March 31, 2025 [157]. - The company has operating and finance lease obligations of approximately $10,071 over the next five years, primarily related to corporate office space and car-sharing services [160]. Going Concern and Future Outlook - The company is undertaking initiatives to mitigate substantial doubt about its ability to continue as a going concern, including engaging with third parties to raise capital and optimizing products and services [158]. - Management believes that the initiatives being implemented will be sufficient to mitigate the circumstances resulting in substantial doubt for at least one year from the date the financial statements are issued [159]. - The company has not yet achieved profitability and there is no assurance that it will be able to obtain funds on commercially acceptable terms in the future [157]. Currency and Market Risks - A hypothetical 1% decrease in all foreign currencies against the U.S. dollar would not result in a material foreign currency loss on foreign-denominated balances as of March 31, 2025 [165].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period from _____ to _____ 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 Ascent Industries Co. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) COMMISSION FIL ...

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 quarterly period 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: 001-39015 BIOVIE INC. (Exact name of registrant as specified in its charter) Nevada 46-2510769 (State or ot ...