Company: LDWY
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001104659-25-109207
Chunk: 6

Company: LENDWAY, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part II, Item 1L
Chunk 6
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Item 1. Legal Proceedings

A description of our legal proceedings, if any, is contained in Note 11 of the Notes to condensed consolidated financial statements in Part I, Item 1 of this Quarterly Report on Form 10-Q, incorporated herein by reference.

Item 1A. Risk Factors

There have been no material changes in our risk factors from those previously disclosed in Part 1, Item 1A of our Transition Report on Form 10-KT for the transition period ended June 30, 2025, except as noted below.

The government shut down may impact our ability to obtain seasonal workers.

The Company has traditionally sourced seasonal labor for the peak growing season from January to May primarily through the H-2A agricultural guest worker program. Due to the federal government shut down that began on October 1, 2025, the Department of Labor is not processing H-2A certificates, which may impact our ability to obtain work visas for temporary employees in time for the high season. A loss of H-2A workers could lead to lower production if replacement workers are not found or higher labor costs if replacement labor requires a higher rate, both of which would reduce profitability.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Share Repurchases

On August 28, 2023, we announced that our Board of Directors had approved a stock repurchase authorization providing for the repurchase of up to 400,000 shares of the Company’s common stock. We may purchase shares of our common stock from time to time in open market transactions at prevailing market prices, in privately negotiated transactions, or by other means in accordance with federal securities laws. Open market repurchases may be effected pursuant to Rule 10b5-1 trading plans. The repurchase authorization does not obligate the Company to acquire any particular amount of its common stock or to acquire shares on any particular timetable and may be suspended or discontinued at any time at the Company’s discretion. There was no repurchase activity for the three months ended September 30, 2025. As of September 30, 2025, 315,792 shares remained available for repurchase under the existing authorization.

Item 3. Defaults upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

During the three months ended September 30, 2025, no director or officer of the Company adopted, modified or terminated a “Rule 10b5