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Serina Therapeutics, Inc. is a clinical-stage biopharmaceutical company developing novel therapies targeting advanced Parkinson's disease and other central nervous system disorders. Its lead product candidate, SER-252, is undergoing Phase 1b registrational clinical trials following FDA clearance after a prior clinical hold related to a formulation excipient. The company is focused on advancing SER-252 through clinical development, regulatory approval, and eventual commercialization. Serina has secured financing to support its clinical programs and has appointed experienced leadership to strengthen its CNS therapeutic development capabilities. The company operates in a highly regulated environment with significant dependencies on successful clinical trial outcomes, regulatory approvals, and capital availability.

Cross Timbers Royalty Trust (CRT) holds net profits interests in oil and gas properties, primarily royalty and overriding royalty interests, with some working interests operated by XTO Energy. The Trust receives net profits income monthly, calculated as revenues from oil and gas sales less production expenses, taxes, and other costs. The Trust's financial statements are prepared on a modified cash basis, recognizing income when received and expenses when paid. The Trust does not engage in business activities beyond holding these interests and short-term cash investments. The Trustee, Argent Trust Company, manages distributions and administrative functions. The Trust pays monthly distributions to unitholders based on net profits income and other income less expenses and reserves. The Trust's net profits income and distributions are influenced by oil and gas production volumes, commodity prices, and costs deducted in the calculation. The Trust maintains cash reserves for contingencies and may borrow funds to pay liabilities if repaid before distributions. The Trust's underlying properties are subject to natural production decline and regulatory risks related to greenhouse gas emissions and sustainability policies. The Trust has no directors or officers and no off-balance sheet financing arrangements. [S1,S2]

Virginia National Bankshares Corp operates as a bank holding company with its main subsidiary, Virginia National Bank, which was chartered in 1998. The bank provides a comprehensive suite of banking products and services including deposit accounts, commercial and consumer loans, trust and estate administration, and treasury services. It serves multiple communities in Virginia, focusing on relationship-based banking with local decision-making. The company also had an investment advisory subsidiary sold in 2024, with ongoing revenue-share arrangements. The bank maintains regulatory compliance with the Federal Reserve, OCC, FDIC, and CFPB, and holds strong capital and liquidity positions as per recent filings.

BayFirst Financial Corp. operates as a bank holding company through its wholly owned subsidiary, BayFirst National Bank. The Bank provides community banking services primarily in the Tampa Bay/Sarasota area of Florida, focusing on consumers, small and medium-sized businesses, and professionals. Its product offerings include a variety of deposit accounts, commercial, consumer, and real estate loans, including specialized lending programs for healthcare businesses and minority-owned businesses. The Bank discontinued its nationwide SBA 7(a) lending business in late 2025 but continues SBA 504 and USDA lending. It also exited its nationwide residential mortgage lending business in 2022 but continues to offer home mortgages locally. The Bank competes with larger regional and national banks, credit unions, and non-traditional financial institutions, leveraging local decision-making and personalized service as competitive advantages. The company reported a net loss in 2025 and has taken restructuring actions related to its SBA lending exit. It maintains a strong liquidity position and a comprehensive risk management framework overseen by its Board and senior management.

Vera Bradley, Inc. is a U.S.-based company specializing in the design and sale of women's handbags, luggage, travel items, fashion and home accessories, and unique gifts. Founded in 1982, the company operates through two reportable segments: VB Direct and VB Indirect. VB Direct encompasses sales through Vera Bradley's own full-line and outlet stores, e-commerce sites, and an annual outlet sale event. VB Indirect includes sales through approximately 1,000 specialty retail locations, key accounts such as department stores and national accounts, third-party e-commerce sites, and licensing royalties. The company completed the sale of its Creative Genius, Inc. (Pura Vida Bracelets) business in March 2025, which is now classified as discontinued operations. The company’s financial performance is monitored primarily through operating income at the segment level, with consolidated financial results reflecting net revenues, cost of sales, and operating expenses. As of early 2026, the company maintains liquidity with cash and cash equivalents of $18.5 million and a current ratio of 2.37. The Executive Chairman serves as the interim CEO and is the chief operating decision maker.

AEI Income & Growth Fund XXII Ltd Partnership is a minor participant in the commercial real estate sector. It operates without direct employees, relying on an affiliated management company for operational services. The Partnership generates revenue primarily from rental income and property sales, distributing net cash flow predominantly to Limited Partners. It engages in repurchasing partnership units under defined limits and discretion to maintain capital integrity. The Partnership maintains a strong liquidity position with no material off-balance sheet obligations as of the latest fiscal year-end.

AEI Income & Growth Fund XXI Ltd Partnership is a commercial real estate partnership with no direct employees, relying on AEI Fund Management, Inc. for management services. The Partnership competes in a market with larger entities and focuses on stable distributions to its partners. Its cash flow is driven by rental income and proceeds from property sales, including a significant sale in 2025. The Partnership also repurchases units from Limited Partners under defined conditions, which affects ownership interests.

Agriculture & Natural Solutions Acquisition Corp is a special purpose acquisition company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company currently operates as a single reportable segment and holds its cash in a trust account pending the completion of an initial business combination. It has no reported revenue or ongoing operating business. The company’s governance includes a board of six directors with expertise in investment, agriculture, and business leadership. The company’s financial position as of December 31, 2025, shows significant cash held in trust, offset by substantial current liabilities and a shareholders’ deficit.

Darden Restaurants, Inc. operates a diversified portfolio of full-service dining restaurant brands primarily in the United States. As of February 22, 2026, the company owned and operated 2,196 restaurants under brands including Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Chuy's, Yard House, Ruth's Chris Steak House, The Capital Grille, Seasons 52, Eddie V's Prime Seafood, Bahama Breeze, and The Capital Burger. The company also has franchised restaurants domestically and internationally. Darden's business model focuses on delivering culinary innovation, attentive service, and engaging atmospheres tailored to each brand's unique positioning. The company sources food and supplies through long-term agreements with multiple suppliers and distributors, emphasizing food safety and quality. Darden manages its brands in four reportable segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The company pursues growth through new restaurant openings, acquisitions such as Chuy's, and strategic portfolio management including the sale of its Canadian Olive Garden locations and restructuring of Bahama Breeze. Financially, Darden reported sales growth driven by new restaurants and same-restaurant sales increases, with operating income and net earnings reflecting ongoing investments and cost pressures. The company maintains investment-grade credit ratings and a share repurchase program to manage capital allocation.

Sphere 3D Corp., incorporated in 2007 and renamed in 2015, transitioned to focus exclusively on Bitcoin mining starting in 2022 after divesting its containerization and virtualization technology segment in 2023. The company operates an enterprise-scale Bitcoin mining business, owning thousands of ASIC miners and managing hosting agreements and self-owned facilities, including an 8 MW site in Iowa. It provides hash calculation services to mining pool operators under short-term contracts. Sphere 3D's business model centers on increasing its hashrate capacity and mining efficiency through fleet refreshes and vertical integration to reduce costs. The company faces competition from other miners and risks related to equipment supply, regulatory changes, and cryptocurrency market volatility. Sphere 3D reported $11.18 million in revenue and a net loss of $21.48 million for the fiscal year ended December 31, 2025, with liquidity ratios indicating a strong current position but management expressing concerns about ongoing funding needs. The company recently announced a strategic acquisition of Cathedra Bitcoin Inc. to enhance its infrastructure capabilities.

Forian Inc. provides data science-driven information and analytics solutions primarily to the life sciences, healthcare, and financial services industries. Founded in 2020 and publicly listed on Nasdaq since 2021, Forian operates a proprietary cloud-based data factory that processes and integrates diverse healthcare and consumer data sources to create linked, de-identified longitudinal patient health information databases. These databases support subscription-based information products and services designed to optimize operational, clinical, and financial performance for customers including pharmaceutical companies, healthcare payers and providers, and institutional investors such as hedge funds. The company expanded its addressable market with the acquisition of Kyber Data Science LLC in 2024, enhancing its offerings to financial services clients. Forian's products leverage advanced data matching and privacy techniques and include Real World Evidence and market access solutions. The company generates revenues primarily in the United States and maintains a diverse customer base. It reported revenue growth in 2025, alongside investments in sales, marketing, and research and development, while managing costs and reducing legacy litigation expenses.

Praetorian Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in September 2025 in the Cayman Islands. Its sole purpose is to identify and complete a business combination with one or more target companies. The company has not yet selected any target or initiated substantive discussions. It completed its IPO in January 2026, raising gross proceeds of $220 million, with additional proceeds from Private Placement Warrants. These funds are held in a Trust Account to be used for the initial business combination. The management team brings broad sector and capital markets experience, focusing on businesses that can benefit from automation and artificial intelligence. The company must complete its business combination by January 2028 or dissolve and return funds to shareholders. To date, the company has no operating revenues and has incurred administrative expenses resulting in net losses.

Talon Capital Corp. is a special purpose acquisition company (SPAC) incorporated in May 2025 in the Cayman Islands. Its business purpose is to effect a merger, share exchange, asset acquisition, or similar business combination with one or more businesses, primarily targeting the energy and power industries. The company completed its IPO in September 2025, issuing units consisting of Class A ordinary shares and redeemable warrants, raising gross proceeds of $249 million, which were placed in a trust account. The company has not yet selected a specific acquisition target. Management includes experienced executives with backgrounds in energy and accounting. The company has a 24-month period from the IPO to complete a business combination or else redeem public shares and liquidate. The company’s acquisition strategy focuses on leveraging management’s network and industry experience to identify and build a company in the energy services and equipment sector. The company currently has no operating business and generates income primarily from interest on trust account funds. It maintains a strong liquidity position with current assets exceeding current liabilities by a wide margin as of December 31, 2025.

Jaguar Uranium Corp. is focused on uranium exploration and development, operating primarily in Colombia and Argentina. The company controls three main projects: the Berlin Project in Colombia, which contains uranium and multiple battery metals including rare earth elements; and the Laguna Salada and Huemul Projects in Argentina, both early-stage uranium exploration sites with known mineralization. Jaguar Uranium was incorporated in late 2022 and has since acquired these projects and raised capital through multiple funding rounds culminating in a $25 million IPO in early 2026. The company plans to conduct extensive exploration programs including drilling, sampling, metallurgy, and pilot testing to establish and grow resource levels. Operations are supported by government cooperation in mining-friendly jurisdictions. Jaguar Uranium faces competition from larger, better-capitalized companies and operates with limited liquidity and no current revenues, relying on equity financing to fund its activities.

Bit Digital, Inc. is engaged in cloud services and colocation data center operations, focusing on providing infrastructure for high-performance computing applications such as AI and machine learning. The company operates data centers in Northern Iceland, Montreal Canada, and is developing a facility in North Carolina. It has entered into long-term contracts with customers ranging from month-to-month to 60 months. The business model is evolving with the cloud services market, and the company faces challenges related to competition, supply chain, energy supply, and regulatory risks. Financially, Bit Digital reported $113.6 million in revenue and a net loss of $80.3 million for fiscal year 2025, with a strong liquidity position as of year-end 2025 [S1][S2].

Soren Acquisition Corp. operates as a Special Purpose Acquisition Company (SPAC) with the objective of effecting a Business Combination with one or more businesses or entities. Incorporated in the Cayman Islands in September 2025, the company completed its IPO in January 2026, raising gross proceeds of $253 million. The proceeds are held in a Trust Account to be used for the Business Combination. The company has not yet identified a target and has no operating revenues. Its management team has prior SPAC experience and aims to acquire established businesses, primarily in healthcare, that may benefit from operational and strategic enhancements. The company faces typical SPAC risks including dilution, failure to complete a Business Combination within the required timeframe, and market uncertainties [S1].

VanEck Bitcoin ETF operates as a passive investment vehicle that holds bitcoin on behalf of investors, providing exposure to bitcoin price movements through shares traded on a public exchange. The Trust was formed in 2020 and is managed by VanEck Digital Assets, LLC. It holds bitcoin via custodians Gemini and Coinbase and calculates its NAV daily using a composite bitcoin price benchmark. Shares are created and redeemed in large baskets through authorized participants, either via cash or in-kind bitcoin transactions. The Trust aims to offer investors a way to access bitcoin exposure without the complexities and risks of direct bitcoin ownership, such as custody and transfer challenges. The Trust's fee structure is tiered and paid monthly in bitcoin. The Trust's NAV was $1.38 billion at the end of 2025, with 55.9 million shares outstanding. The Trust competes with other bitcoin ETFs and investment vehicles, including larger products like the iShares Bitcoin Trust ETF.

F&M Bank Corp is a financial holding company incorporated in Virginia, owning a banking subsidiary and a title insurance subsidiary. The bank operates under a state charter regulated by Virginia authorities and the Federal Reserve. It serves consumers and businesses primarily in specific counties and cities in Virginia through 14 branches and loan production offices. The company’s business includes traditional banking services, mortgage lending (transferred to the bank in 2025), and title insurance. The bank’s financial performance in recent periods shows growth in net interest income and net income, with a focus on managing credit losses and operating expenses. The company maintains liquidity through cash, short-term investments, and access to credit lines. It also manages interest rate risk and capital structure, including issuing subordinated notes to support capital requirements.

ON24 INC. is a technology company providing a platform for live engagement, including webinars, virtual conferences, and marketing software solutions. The company operates primarily on a subscription model, serving a global customer base with significant international operations. ON24's platform integrates AI-powered features such as generative AI and machine learning to enhance user engagement and content creation. The company has faced revenue declines in recent years following rapid growth in 2020 and 2021, and it has a history of net losses. Strategic cost reductions have been implemented to manage expenses. ON24 announced an all-cash acquisition by Cvent in December 2025. The company competes with large technology firms offering similar or complementary products and faces risks related to competition, economic conditions, cybersecurity, and market adoption trends.

Entera Bio Ltd. is a clinical-stage biotech company developing oral peptide and protein replacement therapies targeting unmet medical needs. Its proprietary N-Tab™ platform enables oral delivery of peptides, with lead candidates including EB613 for osteoporosis and oral OXM in collaboration with OPKO. The company has completed Phase 2 trials for EB613 and is preparing for Phase 3 studies. It has not yet obtained regulatory approvals or generated commercial revenues. Operations are primarily in Israel, with a small workforce and external advisors globally. The company finances its operations through equity offerings, grants, and collaborations, with a history of net losses and an accumulated deficit. Liquidity is sufficient to support operations through mid-2026 excluding the Phase 3 initiation, which requires additional capital. The company faces risks from clinical development uncertainties, regulatory approvals, geopolitical instability in Israel, and the need for further financing.

Launch One Acquisition Corp. is a Special Purpose Acquisition Company (SPAC) incorporated in the Cayman Islands in February 2024. Its business model is to raise capital through an IPO and private placement to fund an initial business combination with one or more target companies, primarily focusing on healthcare and life sciences sectors. The company completed its IPO in July 2024, raising $230 million, which is held in a trust account. It has no operating revenues and has not yet consummated a business combination. The management team and board have significant experience in life sciences and SPAC transactions. The company terminated a prior business combination agreement with Minovia Therapeutics in January 2026 and is actively seeking alternative targets. It must complete a business combination by July 15, 2026, or liquidate and return funds to shareholders. The company has access to a working capital loan facility from its sponsor to fund expenses. It faces competition from other SPACs and investment entities in sourcing and completing business combinations.

EQV Ventures Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more target businesses. The company completed its IPO in July 2025, raising gross proceeds of $460 million, which are held in a trust account pending a business combination. The company has no operating revenues or business activities other than organizational and IPO-related activities. Its management team and Sponsor hold a significant equity stake and have discretion over the use of proceeds. The company must complete a business combination within 24 months of the IPO or return funds to shareholders. The company may pursue a combination with a single or multiple targets, with associated risks and complexities. It also faces risks related to potential conflicts of interest, amendments to governing documents, and cybersecurity threats.

Dogecoin Cash, Inc., incorporated in Nevada in 2004, operates primarily through its majority-owned subsidiary PrestoCorp, Inc., which runs the PrestoDoctor telemedicine platform. This platform connects patients with licensed physicians for medical cannabis evaluations via secure video consultations in states where such services are permitted. The company provides the technology and administrative support for these consultations but does not employ the physicians, who are independent medical professionals. The company’s revenue is substantially derived from telemedicine consultation services. It operates an asset-light model without owning physical clinics. Additionally, the company holds cannabis-related intellectual property and pursues digital asset initiatives through subsidiaries. The company is not affiliated with the Dogecoin cryptocurrency and does not issue or sponsor any cryptocurrency. It faces competition from larger telemedicine providers and regulatory risks related to telemedicine and medical cannabis laws.

Stratus Properties Inc. is engaged in the entitlement, development, management, leasing, and sale of multi-family and single-family residential and commercial real estate primarily in Austin, Texas and select Texas markets. The company operates through two segments: Real Estate Operations, which involves developing and selling properties, and Leasing Operations, which involves leasing developed properties held for investment. Stratus has several ongoing residential development projects, including the Barton Creek community with phases such as Amarra Villas, The Saint June, and Holden Hills Phases 1 and 2. The company has entered into partnerships and financing arrangements to support these developments. Stratus also faces regulatory challenges related to the removal of its properties from the City of Austin's extraterritorial jurisdiction, which may affect development plans. The company has been actively selling properties, generating gains, and managing debt with variable interest rates. A Plan of Liquidation has been approved by the Board, subject to stockholder approval, which would shift the company's focus toward asset monetization and winding down operations.

Public Service Company of New Mexico (PNM) is a utility company with limited publicly disclosed business details due to omission of its business description in the latest annual SEC filing. The company is currently involved in a proposed merger with Blackstone Infrastructure, which requires multiple regulatory approvals and is subject to customary closing conditions. The merger process has operational impacts including restrictions on business activities and management focus. Financial data such as revenue, net income, and liquidity ratios are not disclosed in recent SEC filings, limiting visibility into the company's financial position and performance.

Viewbix Inc. is a company engaged primarily in digital advertising platforms, generating revenue through platform sales. A significant portion of its digital advertising revenue is concentrated with one major international search engine customer, representing about 81% of revenues for its Gix Media unit in 2025. The company is highly dependent on this material agreement, which is subject to automatic renewal unless notice is given. Viewbix also acquired Metagramm in 2025, a firm specializing in advanced writing assistance tools licensed on a subscription basis, and agreed to acquire Quantum X Labs, an early-stage quantum computing company. The quantum computing segment is in an early and volatile industry stage, with risks related to scaling, market adoption, and intellectual property. Viewbix operates primarily in Israel, exposing it to geopolitical and military risks, though its revenues are mainly from U.S. and European markets. The company has reported recurring losses and liquidity challenges, with substantial doubt about its ability to continue as a going concern noted in filings. It faces competitive pressures from large technology companies and evolving regulatory risks related to data protection and artificial intelligence.

NSTS Bancorp, Inc. was incorporated in 2021 as a savings and loan holding company and completed its conversion from mutual to stock form in January 2022. It is the parent company of North Shore Trust and Savings, which has operated since 1921 and serves primarily Lake County, Illinois, and adjacent communities. The bank operates three full-service offices and three loan production offices in the greater Chicagoland area and Kenosha County, Wisconsin. The company’s primary business is attracting deposits and originating loans, with a focus on one- to four-family residential mortgage loans, which constitute the majority of its loan portfolio. Other loan types include commercial real estate, multi-family residential, construction, and consumer loans. The company derives income mainly from interest on loans and investments, gains on mortgage loan sales, and fees. It faces competition from larger financial institutions and non-depository entities in its market area. NSTS Bancorp is regulated by the Federal Reserve Board, and its bank subsidiary is regulated by the OCC. The company employs 49 full-time equivalent employees and has an ESOP for employee ownership.

OTG Acquisition Corp. I is a newly organized blank check company incorporated as a Cayman Islands exempted company. Its purpose is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company completed its initial public offering on September 15, 2025, issuing 23,000,000 units at $10.00 per unit, including the full exercise of the underwriters' over-allotment option. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant exercisable at $11.50 per share. The company also sold 775,000 private placement units to its sponsor and underwriters. As of December 31, 2025, the company had not commenced operations and had no operating revenues, generating net income from interest income on cash and marketable securities held in a trust account. The company holds substantial cash and marketable securities in trust, with a current ratio of approximately 10.85. Transfer restrictions apply to founder shares, private placement units, and other securities, including a 180-day restriction following the IPO pricing and additional restrictions under Rule 144. The company is subject to risks associated with emerging growth companies and has substantial doubt about its ability to continue as a going concern within one year after the financial statement date, with management planning to address this through a business combination. The company’s general and administrative expenses are monitored to manage cash and ensure sufficient capital to complete a business combination within the combination period. The company has no operating segments other than itself and reports net income or loss as the key performance measure. [S1][S2]

1RT Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in December 2024 in the Cayman Islands. Its sole purpose is to identify and complete an initial business combination with one or more target companies, primarily in the digital assets and blockchain sectors. The company completed its IPO in July 2025, raising $172.5 million, which is held in a trust account to be used for the business combination. The company has not generated operating revenues and has not yet selected a target. The management and advisory teams bring experience in technology, digital assets, and blockchain, leveraging networks including private equity affiliates. The company must complete its business combination within 24 months of the IPO or liquidate and return funds to shareholders. The company’s capital structure includes public shares, warrants, and private placement warrants. It maintains strong liquidity and reported net income in 2025, primarily reflecting non-operating items. The company is subject to Nasdaq listing rules and regulatory requirements applicable to SPACs and emerging growth companies.

Emmis Acquisition Corp. is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands. It completed its initial public offering on September 26, 2025, issuing units consisting of Class A ordinary shares and rights to additional shares upon consummation of an initial business combination. The company raised gross proceeds of $115 million from the IPO and an additional $3.675 million from private placements. The proceeds are held in a trust account pending a business combination. The company is classified as an emerging growth company and has entered into various agreements related to its IPO and business combination process. As of the latest filings, the company has not disclosed specific operational activities or industry focus.

Kezar Life Sciences, Inc. is a clinical-stage biotechnology company developing novel small molecule therapeutics targeting immune-mediated diseases. Its lead product candidate, zetomipzomib, is a first-in-class selective immunoproteasome inhibitor being developed primarily for autoimmune hepatitis (AIH) and previously studied in systemic lupus erythematosus (SLE) and lupus nephritis (LN). The company has conducted multiple clinical trials including Phase 1a, Phase 1b/2 (MISSION), Phase 2a (PORTOLA), and initiated but terminated a Phase 2b (PALIZADE) trial in LN due to safety concerns and FDA clinical hold. Kezar has licensing agreements with Onyx Therapeutics (Amgen subsidiary) and Everest Medicines for development and commercialization rights in various territories. Manufacturing is outsourced to third-party contract manufacturing organizations compliant with cGMP. The company has no approved products or revenues and has been operating at a loss since inception. In late 2025, Kezar announced plans to explore strategic alternatives and implemented workforce reductions amid challenges in aligning with FDA on registrational trials. The company maintains strong liquidity with over $71 million in cash and equivalents as of December 31, 2025.

Presurance Holdings, Inc. operates as an insurance holding company with a focus on specialty personal insurance lines, primarily homeowners insurance in select states. The company ceased writing commercial lines by the end of 2025 and sold its managing general agency business in 2024, which significantly altered its revenue base and operational structure. It relies on third-party agencies for underwriting, claims, and IT services under administration agreements. The company is licensed to write insurance as an excess and surplus lines carrier in 44 states and as an admitted carrier in 42 states but currently offers products only in Texas, Illinois, and Indiana. Capital constraints in its insurance subsidiaries have led to multiple capital contributions and regulatory remediation requirements. The company completed a backstopped rights offering in early 2026 to raise capital and address preferred stock redemption. Nasdaq listing compliance is a current concern due to the stock price being below the minimum bid requirement.

QuickLogic develops programmable logic semiconductor technologies, including embedded FPGA IP and discrete FPGA devices, targeting markets such as aerospace, defense, industrial systems, and computing platforms. The company offers a range of FPGA silicon products and licenses eFPGA IP generated via its Australis™ automated tool, enabling scalable integration into ASICs and SoCs. Manufacturing is outsourced to third-party foundries like GlobalFoundries and TSMC. QuickLogic's silicon platforms combine programmable logic with fixed-function and mixed-signal hardware, supporting applications requiring low power, flexibility, and ruggedized packaging. The company sells through direct sales and channel partners globally, with significant customer concentration. Fiscal 2025 revenue was $13.774 million with a net loss of $14.816 million. Liquidity ratios as of year-end 2025 indicate a current ratio of 1.14 and cash ratio of 1.07 [S1].

General Purpose Acquisition Corp. (GPAC) is a Cayman Islands exempted blank check company formed to identify and complete a business combination with one or more target businesses. It completed its initial public offering in December 2025, raising approximately $225 million placed in a trust account to fund a future business combination. The company currently has no operating business and does not generate operating revenues. Its management team is focused on identifying suitable acquisition targets leveraging their industry experience and networks. GPAC is subject to transfer restrictions on founder shares and private placement units until lock-up periods expire, including restrictions until May 31, 2026, or 180 days after the IPO pricing. The company is an emerging growth company and a smaller reporting company, benefiting from reduced reporting obligations. Its financial position as of December 31, 2025, shows strong liquidity with a current ratio of 6.07. The business model depends entirely on successfully completing a business combination; failure to do so would result in liquidation and return of funds to shareholders.

Macy's Inc. operates department stores primarily in the United States, offering apparel, accessories, and home products through both physical retail locations and e-commerce platforms. The company reported $22.6 billion in revenue and $642 million in net income for fiscal year 2025, reflecting its scale and market presence. Liquidity metrics as of January 31, 2026, show a current ratio of 1.49 and cash ratio of 0.28, indicating moderate short-term financial flexibility. Macy's business model combines traditional retail with digital sales channels, aiming to drive comparable store sales growth and profitability.

Cambridge Acquisition Corp. is a Special Purpose Acquisition Company (SPAC) incorporated in the Cayman Islands, with its principal executive offices in Boston, MA. The company’s business model is to raise capital through an IPO and Private Placement to acquire or merge with a private company, thereby taking it public through a Business Combination. The company targets businesses disrupting large legacy markets through innovation in harm reduction, wellness, and technology-enabled platforms, primarily in the US and Europe but not limited to these regions. The management team has experience investing in stigmatized and under-served markets and aims to leverage its network and expertise to identify and execute a successful Business Combination. As of the latest filing, the company has not selected a target or initiated substantive discussions. Financially, the company holds approximately $230 million in trust from its IPO proceeds, reports no revenue, and has a net loss reflecting pre-combination expenses. The company’s liquidity is limited, with current liabilities significantly exceeding current assets as of December 31, 2025.