Company: LDWY
Filing Date: 2025-08-28
Form Type: 10-KT
Source: 0001558370-25-011807
Chunk: 78

Company: LENDWAY, INC.
Filing Date: 2025-08-28
Form: 10-KT
Chunk 78
---
 bulbs, and as of August 25, 2025, the Company had committed to purchasing approximately $ 15million of tulip bulbs to be paid for between September and December 2025. 16. Employee Benefit Plans. For all Dutch employees, the Company participates in defined contribution pension plans with an independent insurance company. Defined contributions are expensed in the year in which the related employee services are rendered. The Company makes contributions on behalf of all Dutch employees of which $ 45,000and $ 77,000were made and expensed for the six months ended June 30, 2025 and calendar year 2024, respectively. Eligible employees in the United States are able to participate in a 401(k) defined contribution plan. The Company incurred $ 25,000and $ 36,000in 401(k) expense for the six months ended June 30, 2025 and calendar year 2024.

F-29

## Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures
None.

## Item 9A. Controls and Procedures

#### Evaluation of Disclosure Controls and Procedures
The Company maintains disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act is (i) recorded, processed, summarized and reported within the time periods specified in SEC rules and forms and (ii) accumulated and communicated to the Company’s management, including its principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

The Company’s management carried out an evaluation, under the supervision and with the participation of the Company’s principal executive officers and principal financial and accounting officer, of the effectiveness of the design and operation of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of the end of the period covered by this report, pursuant to Exchange Act Rule 13a-15. Based upon that evaluation, the Company’s co-principal executive officers and its principal accounting and finance officer concluded that the Company’s disclosure controls and procedures as of June 30, 2025 were effective.

Management’s Transition Report on Internal Control Over Financial Reporting

Our management is responsible for establishing and maintaining adequate control over financial