Company: LDWY
Filing Date: 2025-08-28
Form Type: 10-KT
Source: 0001558370-25-011807
Chunk: 63

Company: LENDWAY, INC.
Filing Date: 2025-08-28
Form: 10-KT
Chunk 63
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 of the results that we would have achieved had the transaction actually taken place on January 1, 2023, and the unaudited pro forma information does not purport to be indicative of future financial operating results. The unaudited pro forma consolidated financial information does not reflect any operating efficiencies and cost savings that may be realized from the integration of the acquisitions. Unaudited revenue for calendar year 2023 was approximately $. In accordance with ASC 270-10, the Company is unable to provide unaudited pro forma information for net earnings for the year ended December 31, 2023 due to lack of available information during the period prior to ownership. Unaudited pro forma information for the six months ended June 30, 2024 and year ended December 31, 2024, excluding the impact of debt and intangible asset amortization, is as follows:

| ​                                         
 ​                                         | ​ 
 ​ | ​                
 Six Months Ended 
 ​                |             ​ 
 June 30, 2024 | ​ | ​ | ​          
 Year Ended 
 ​          |                 ​ 
 December 31, 2024 | ​ |
|:------------------------------------------|:--|:-----------------|--------------:|:--|:--|:-----------|------------------:|:--|
| Revenue, net                              | ​ | $                |    27,327,000 | ​ | ​ | $          |        40,147,000 | ​ |
| Net income (loss) attributable to Lendway | ​ |                  |    -1,465,000 | ​ | ​ |            |        -5,539,000 | ​ |

The Company incurred approximately $ and $ of acquisition-related costs that were expensed during the six months ended June 30, 2025 and calendar year 2024, respectively. These costs are included in sales, general and administrative expenses in the consolidated statements of operations and comprehensive income (loss).

5. Sale of In-Store Marketing Business and Presentation as Discontinued Operations.

On August 3, 2023, the Company completed the sale of certain assets and certain liabilities relating to the Company’s In-Store Marketing Business for a price of $ to TIMIBO LLC, an affiliate of Park Printing, Inc. (the “Buyer”) under an Asset Purchase Agreement (the “Purchase Agreement”). The Company retained accounts receivable, as well as cash, cash equivalents and marketable securities. The cash consideration for the sale was subject to a