Company: LDWY
Filing Date: 2025-08-28
Form Type: 10-KT
Source: 0001558370-25-011807
Chunk: 61

Company: LENDWAY, INC.
Filing Date: 2025-08-28
Form: 10-KT
Chunk 61
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​Year Ended​June 30, 2025December 31, 2024December 31, 2023Denominator for basic net income (loss) per share - weighted average shares1,770,0001,770,0001,781,000Effect of dilutive equity awards44,000——Denominator for diluted net income (loss) per share - weighted average shares1,814,0001,770,0001,781,000​​3. Change in Fiscal Year-End.The Company historically reported on a calendar year basis ending on December 31. The Company’s Board of Directors approved a change in the Company’s year-end from December 31 to June 30 of each year, effective June 30, 2025. The Company is filing this Transition Report on Form 10-KT for the six-month transition period from January 1, 2025 to June 30, 2025. In this Transition Report on Form 10-KT, the calendar years ended December 31, 2024 and 2023 are referred to as “Calendar Year 2024” and “Calendar Year 2023”, and reflect financial results for the respective twelve-month periods from January 1 to December 31.4. Bloomia Acquisition.On February 22, 2024, the Company completed the acquisition of a majority interest in Fresh Tulips USA LLC and Bloomia B.V. and its subsidiaries (the “Acquisition”). The Acquisition was completed by the Company through its wholly owned subsidiaries, Tulp 24.1 and Tulipa Acquisitie Holding B.V. (“Tulipa”), pursuant to an Agreement for the Sale and Purchase of Shares by and among Tulp 24.1, Tulipa, Botman Bloembollen B.V., W.F. Jansen (“Jansen”), and H.J. Strengers, and Lendway, as the Guarantor. Jansen will continue to serve as chief executive officer of Bloomia following the Acquisition. As a result of the Acquisition, Tulp 24.1 became the holder of100% of the ownership interests of Bloomia.The acquisition has been accounted for in accordance with ASC Topic 805, “Business Combinations,” using the acquisition method of accounting. Under the acquisition method of accounting, the total purchase price was allocated to the net identifiable tangible and intangible assets of Bloomia acquired, based on their fair values at the date of the acquisition.The acquisition was funded through a combination of debt and cash on