# EDGAR Filing Document

**Accession Number:** 0001590695
**File Stem:** 0001753926-26-000426
**Filing Date:** 2026-3
**Character Count:** 385786
**Document Hash:** ec69d916ff91f698256e5266d2e46a9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001753926-26-000426.hdr.sgml**: 20260303

**ACCESSION NUMBER**: 0001753926-26-000426

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 79

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20260303

**DATE AS OF CHANGE**: 20260303

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TWINLAB CONSOLIDATED HOLDINGS, INC.
- **CENTRAL INDEX KEY:** 0001590695
- **STANDARD INDUSTRIAL CLASSIFICATION:** MEDICINAL CHEMICALS & BOTANICAL PRODUCTS [2833]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 463951742
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55181
- **FILM NUMBER:** 26716405

**BUSINESS ADDRESS:**
- **STREET 1:** 4800 T-REX AVENUE
- **STREET 2:** SUITE 305
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33431
- **BUSINESS PHONE:** 561-443-5001

**MAIL ADDRESS:**
- **STREET 1:** 4800 T-REX AVENUE
- **STREET 2:** SUITE 305
- **CITY:** BOCA RATON
- **STATE:** FL
- **ZIP:** 33431

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MIRROR ME, INC.
- **DATE OF NAME CHANGE:** 20131031

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**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

#### WASHINGTON, DC 20549

**FORM 10-K** 

**(Mark One)**

**☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended December 31, 2024**

**OR**

**☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from ____ to ____**

**Commission File Number: 000-55181**

**Twinlab Consolidated Holdings, Inc.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Nevada**  | **46-3951742**  |
| (State or other jurisdiction of incorporation or organization)  | (I.R.S. Employer Identification No.)  |
| **304 Indian Trace #438** |  |
| **Weston, Florida**  | **33326**  |
| (Address of principal executive offices)  | (Zip Code)  |

---

**(561) 443-4301**

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class  | Trading Symbol  | Name of each exchange on which registered  |

---

Securities registered pursuant to Section 12(g) of the Act:

<u>Common Stock</u>

(Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐No☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.Yes☐ No ☒

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☐ No ☒

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Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer  | ☐  | Accelerated filer  | ☐  |
| Non-accelerated filer  | ☐  |  |  |
|  |  | Smaller reporting company  | ☒ |
|  |  | Emerging growth company | ☐  |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262 (b)) by the registered public accounting firm that prepared or issued its audit report. ☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

The aggregate market value of common stock held by non-affiliates of the registrant at June 30, 2024 was $1,018,614 (computed by reference to the high/low price on such date).

The number of shares of common stock, $0.001 par value, outstanding on March 2, 2026 was 259,092,833 shares.

**DOCUMENTS INCORPORATED BY REFERENCE**

None.

------

**TABLE OF CONTENTS**

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| | | |
|:---|:---|:---|
|  |  | Page No. |
| [PART I](#BAAA_6YCE0FUBV400000000000000000000) | [PART I](#BAAA_6YCE0FUBV400000000000000000000) | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 1. | [Business.](#BBS_X7NKME3U6O00000000000000000000) | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 1A. | [Risk Factors.](#BRS_8OK1L26LCG00000000000000000000) | 13 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 1B. | [Unresolved Staff Comments.](#BUSC_32202695228152) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 1C. | [Cybersecurity.](#BCYB_32202695245799) | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 2. | [Properties.](#BPP_WEKGA58WLC00000000000000000000) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 3. | [Legal Proceedings.](#BLP_0RD19KS43K00000000000000000000) | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 4. | [Mine Safety Disclosures.](#BMSD_2ZU6TMS8SW00000000000000000000) | 24 |
| [PART II](#BP2_R7R43ZA31C00000000000000000000) | [PART II](#BP2_R7R43ZA31C00000000000000000000) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 5. | [Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.](#BI5_KIRMTOSWYO00000000000000000000) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 6. | [Reserved.](#BI6_O6HB7BAH9C00000000000000000000) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 7. | [Management's Discussion and Analysis of Financial Condition and Results of Operations.](#BI7_E8P1WDW1W000000000000000000000) | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 7A. | [Quantitative and Qualitative Disclosures About Market Risk.](#BI7A_D2PU93J50G00000000000000000000) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 8. | [Financial Statements and Supplementary Data.](#BI8_R0NOCTUV1S00000000000000000000) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 9. | [Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.](#BI9_LOF2YRWG5C00000000000000000000) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 9A. | [Controls and Procedures.](#BI9A_0RGTMH1QB400000000000000000000) | 31 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 9B. | [Other Information.](#BI9B_PF59JWAN2800000000000000000000) | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 9C. | [Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.](#B9ccc_178HSE5EBK00000000000000000000) | 33 |
| [PART III](#BP3_HFAI1KI8XS00000000000000000000) | [PART III](#BP3_HFAI1KI8XS00000000000000000000) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 10. | [Directors, Executive Officers and Corporate Governance.](#BI10_0E7X5A2DC000000000000000000000) | 34 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 11. | [Executive Compensation](#BI11_SZCT8UYEUO00000000000000000000). | 36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 12. | [Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.](#BI12_NXEA7I9AC000000000000000000000) | 39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 13. | [Certain Relationships and Related Transactions, And Director Independence.](#BI13_E827P1LZOG00000000000000000000) | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 14. | [Principal Accountant Fees and Services.](#BI14_IQ9LNHZ56O00000000000000000000) | 41 |
| [PART IV](#BP4_SIOCWQ88K000000000000000000000) | [PART IV](#BP4_SIOCWQ88K000000000000000000000) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 15. | [Exhibits and Financial Statement](#BI15_KK1G3TSAKW00000000000000000000) | 42 |
| &nbsp;&nbsp;&nbsp;&nbsp;Item 16. | [Form 10-K Summary.](#BI16_RG5FX54TSW00000000000000000000) | 53 |
| [SIGNATURES](#BSign_LU0ISEDPKG00000000000000000000) | [SIGNATURES](#BSign_LU0ISEDPKG00000000000000000000) | 54 |

---

------

[**PART I**](#TOC)

**FORWARD-LOOKING STATEMENTS**

Statements in this Annual Report on Form 10-K ("Report" or "10-K") that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. If such risks or uncertainties materialize or such assumptions prove incorrect, our business, operating results, financial condition and stock price could be materially negatively affected. In some cases, you can identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," "will," "would" or the negative of these terms or other comparable terminology. Factors that could cause actual results to differ materially from those currently anticipated include those set forth in the section titled "Risk Factors" including, without limitation, risks relating to:

• our need for substantial additional funds in order to continue our operations, and the uncertainty of whether we will be able to obtain the funding we need to continue as a going concern; 

• we may file for bankruptcy protection, or an involuntary petition for bankruptcy may be filed against us, and a bankruptcy filing would subject our business and operations to various risks;

• the departures of executive offices and directors and our ability to recruit and retain new executive officers and directors; 

• volatile conditions in the capital, credit and commodities markets and in the overall economy; 

• public health threats or outbreaks of communicable diseases could have a material adverse effect on the Company's operations and financial results; 

• our ability to protect our intellectual property rights that are valuable to our business, including trademark and other intellectual property rights; 

• our dependence on third-party manufacturers, suppliers, distributors and other potential commercial partners; 

• our ability to obtain favorable credit terms from material suppliers and other commercial partners; 

• transactions with related parties may not be on arm's-length terms, which could result in higher expenses or lower revenue than comparable transactions with third parties;

• our leases, including our ability to assign or cancel such leases or find a mutually agreeable solution with any of our landlords, where there is a dispute or claim between the parties;

• the size and growth of the potential markets for our products, and the rate and degree of market acceptance of any of our products; 

• competition in our industry; 

• regulatory developments in the United States and foreign countries; 

• consumer perception of our products due to adverse scientific research or findings, regulatory investigations, litigation, national media attention and other publicity regarding nutritional supplements; 

• potential slow or negative growth in the vitamin, mineral and supplement market; 

• increases in the cost of borrowings or unavailability of additional debt or equity capital, or both; 

• our dependency on retail stores for sales; 

• the loss of significant customers; 

• compliance with new and existing federal, state, local or foreign legislation or regulation, or adverse determination by regulators anywhere in the world (including the banning of products) and, in particular, Food and Drug Administration Good Manufacturing Practices ("cGMP"), Dietary Supplement Health and Education Act of 1994 ("DSHEA"), Food Safety Modernization Act ("FSMA") and California's Safe Drinking Water and Toxic Enforcement Act of 1986 ("Proposition 65") in the United States, the Natural Health Products Regulations in Canada, the Food Supplements Directive and Traditional Herbal Medicinal Products Directive (the "Herbal Products Directive") in Europe and greater enforcement by any such federal, state, local or foreign governmental entities; 

• material product liability claims and product recalls; 

• our inability to obtain or renew insurance, or to manage insurance costs; 

• international market exposure and compliance with anti-corruption laws in the U.S. and foreign jurisdictions; 

------

• difficulty entering new international markets; 

• legal proceedings initiated by regulators in the U.S. or abroad; 

• unavailability of, or our inability to consummate, advantageous acquisitions in the future, or our inability to integrate acquisitions into our business; 

• loss of certain third-party suppliers; 

• the availability and pricing of raw materials; 

• disruptions in manufacturing operations that produce nutritional supplements and loss of manufacturing certifications; 

• increased competition and failure to compete effectively; 

• our inability to respond to changing consumer preferences; 

• interruption of business or negative impact on sales and earnings due to acts of God, acts of war, weather, sabotage, terrorism, bioterrorism, civil unrest or disruption of delivery service; 

• work stoppages at our facilities or any supplier; 

• increased raw material, utility, and fuel costs; 

• fluctuations in foreign currencies, including, in particular, the Euro, the Canadian Dollar and the Chinese Renminbi; 

• interruptions in information processing systems and management information technology, including system interruptions and security breaches; 

• our failure to maintain and/or upgrade our information technology systems; 

• our exposure to, and the expense of defending and resolving, product liability claims, intellectual property claims and other litigation; 

• our failure to maintain effective controls over financial reporting; 

• other factors disclosed in this Report; and 

• other factors beyond our control. 

We operate in a very competitive and rapidly changing environment and new risks emerge from time to time. As a result, it is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Report may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. The forward-looking statements included in this Report speak only as of the date hereof, and except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason after the date of this Report to conform these statements to actual results or to changes in our expectations.

------

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| | |
|:---|:---|
| **Item 1.**  | [**Business.**](#TOC) |

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**General Development of Business**

Twinlab Consolidated Holdings, Inc. (references to "we", "our", "us", the "company", or "TCH") was incorporated on October 24, 2013 under the laws of the State of Nevada.

In September 2014, TCH became a holding company with the completion of a Plan of Merger ("Merger") between Twinlab Consolidation Corporation ("TCC") and a subsidiary of TCH with TCC surviving the Merger as a wholly-owned subsidiary of TCH. Our operational focus redirected to TCC which, through its operating subsidiaries, developed, manufactured, and marketed high-quality, science-based nutritional supplements, as well as through our consolidation strategy of additional acquisitions and integration of acquired companies, as more fully described below under "Business Strategy." As part of such strategy, following the Merger, we focused significantly on successfully obtaining funding for and completing two acquisitions for which TCC had acquired options prior to the Merger, and which, in combination with the TCC operating businesses acquired in the Merger, form the foundation for our consolidation and growth strategy. The first was the acquisition of the customer relationships of Nutricap Labs, LLC ("Nutricap"), a provider of dietary supplement contract manufacturing services, into our subsidiary NutraScience Labs, Inc. (sometimes referred to herein as "NutraScience" or "NSL") on February 6, 2015. The second was the acquisition of 100% of the equity interests of Organic Holdings, LLC ("Organic Holdings"), a market leader in the healthy aging and beauty from within categories and owner of the award-winning Reserveage™ Nutrition brand, on October 5, 2015. With this acquisition, we significantly expanded our brand portfolio through the addition of a market leader for resveratrol and collagen supplements in the expanding healthy aging and beauty from within categories. The addition of innovative new brands and concepts is what ties together the TCC family of brands.

TCC was incorporated on October 1, 2013 in the state of Delaware. TCC was formed to affect a consolidation strategy in the fragmented vitamin, mineral, herbal and other nutritional supplements sectors of the health and wellness industry (the "H&W Industry"). Since TCC's formation, we have executed on this strategy to capitalize on the opportunity for consolidation that we believe exists in the H&W Industry.

In August 2014, TCC acquired Idea Sphere Inc., a Michigan corporation ("Idea Sphere"), and its subsidiaries. Also in August 2014, the name of Idea Sphere was changed to Twinlab Holdings, Inc. ("THI"), which is a holding company that owns and operates Twinlab Corporation, Inc., a marketer of high-quality, science-based nutritional supplements under a number of brand names.

THI was incorporated on April 10, 2001. In November 2005, THI completed the acquisition of Metabolife International, Inc. and its subsidiary Alpine Health Products, LLC. Through this acquisition, THI expanded its presence in the diet and energy category.

TCC's wholly owned subsidiaries are THI, NutraScience, NutraScience Labs IP Corporation, and Organic Holdings. THI's wholly owned subsidiaries are Twinlab Corporation (sometimes referred to herein as "Twinlab"), which markets nutritional supplements under its own brands and for others, and ISI Brands, Inc. ("ISI"), which holds title to the intellectual property used in the marketing activities of Twinlab Corporation. Organic Holdings' wholly owned operating subsidiaries are CocoaWell, LLC, Fembody, LLC, InnoVitamin Organics, LLC, Joie Essance, LLC, Organics Management LLC d/b/a Reserveage Nutrition, Re-Body, LLC, Reserve Life Organics, LLC, ResVitale, LLC, Reserve Life Nutrition, L.L.C., and Innovita Specialty Distribution LLC. Reserveage Nutrition and ResVitale, LLC, both market nutritional supplements under their own respective brands. Reserveage Nutrition also markets a line of skincare products. InnoVitamin Organics, LLC, holds title to the intellectual property used in the marketing activities of Reserveage Nutrition and ResVitale, LLC.

In the third quarter of 2023, due to a history of operating losses associated with the private label distributions business under the NSL brand name, the Company decided to cease operations associated with NSL. As such, NutraScience's fixed assets were determined to have minimal economic value to the Company and were disposed of through abandonment concurrently with the ceased operation.

For convenience in this report, the terms "Company," "we" and "us" may be used to refer to Twinlab Consolidated Holdings, Inc. and/or its subsidiaries, except where indicated otherwise, and the term "TCC" may be used to refer to Twinlab Consolidation Corporation and/or its subsidiaries.

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**Business Overview**

**General**

We are a marketer, distributor, and direct-to-consumer retailer of branded nutritional supplements and other natural products sold to and through domestic health and natural food stores, mass market retailers, specialty store retailers, on-line retailers, and websites. Internationally, we market and distribute branded nutritional supplements and other natural products to and through health and natural product distributors and retailers.

Through NutraScience Labs we also provided services between private label distributors and contract manufacturers. Our services business involved the facilitation of manufacture of custom products to the specifications of a customer who required finished products under the customer's own brand name. We did not market these private label products as our business was to sell the products to the customer, who then marketed and sold the products to retailers or end consumers. The operations performed under NutraScience Labs ceased with the abandonment of operations.

**Business Strategy**

We target consumers searching for high quality nutritional supplements and other natural products. We believe many of these consumers shop in sales channels that offer meaningful education, service, and support to their customers.

The primary channel that offers this type of support to consumers in the United States has been the Specialty and Health and Natural Food channel ("HNF"). Our primary focus and strength has been, and remains on, this channel. This strategy has enabled us to benefit from the growth of the HNF channel. The HNF channel consists of approximately 35,500 retailers, including (i) independent health and natural food stores, (ii) health and natural food stores affiliated with local, regional and national health and natural food chains (including health and natural food store chains, such as Whole Foods Market, and vitamin store chains, such as The Vitamin Shoppe and Vitamin World) and (iii) GNC stores. The HNF channel principally caters to our primary target consumers: those who desire product education, service and high-quality nutritional supplements and other natural products.

We develop, market and distribute our branded products, particularly the Twinlab®, Reserveage™, ResVitale®, Alvita® and Metabolife® brands. We market our branded products through a combination of our own sales force and independent brokers. We continue to seek out partners that have strong customer relationships, reach into our target channels and have acted to realign our independent broker network to gain market share. We believe the key to the strength of our brands and market position is innovation, as we seek to be a market leader in the development of new and innovative products. We believe that we benefit more from greater customer and product diversification than many of our competitors due to our research and development, and sales and marketing capabilities.

We also believe that consumers seeking high quality products are also purchasing them through other channels, such as health care practitioners and direct to consumer channels. We continue to seek opportunities to reach our target consumers through these and additional channels.

An integral part of our business strategy has been to acquire, integrate and operate businesses in the natural products industry that manufacture, market and distribute branded nutritional supplements. We believe that the consolidation and integration of these acquired businesses provides ongoing financial and operational synergies through increased scale and market penetration, as well as strengthened customer relationships. Our near-term focus is on harnessing the respective strengths of our existing businesses, while continuing to seek longer-term opportunities that will either strengthen our product offering, and/or expand our distribution and geographic reach.

**Industry**

We believe that the wellness and beauty market reached its present size due to a number of factors, including (i) interest in immune health due to the pandemic as well as living longer and living well, (ii) the publication of research findings supporting the positive health effects of certain nutritional supplements, and (iii) the growth of the wellness conscious millennial population, combined with the aging of the "Baby Boom" and "Gen X" generations making a mindful choice to purchase more nutritional supplements and natural foods.

**Products**

We formulate and market nutritional supplements. Our products include vitamins, minerals, resveratrol, collagen, keratin, skincare and sports nutrition products primarily under the Twinlab®, Reserveage™ and ResVitale® brands. We also market and sell diet and energy products under the Metabolife® brand and a full line of herbal teas under the Alvita® brand. To accommodate consumer preferences, our products come in various formulations and delivery forms, including capsules, tablets, softgels, chewables, stick packs, liquids, and powders.

We currently market our products through a multiple brand strategy to offer more customer choice and to encourage retailers to allocate additional shelf space to our brands. We have worked to enhance the strength of our brands by instituting business strategies that have included (i) consolidating our product assortment to focus on top selling, profitable products, (ii) engaging independent brokers to support sales across the United States, (iii) conducting cost savings initiatives to identify opportunities for improved margin, (iv) reviewing competitive product pricing to make recommendations for market pricing alignment and (v) completing product certifications to increase our competitive position. We believe our current portfolio of products resonates well with target consumers and retailers and provides us with significant competitive differentiation.

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**Sales, Marketing and Promotion**

Our marketing and sales efforts are directed to promote demand for our products by educating retailers, who in turn educate their customers, on the quality and attributes of our natural nutritional supplements and other products. Our branded products are sold globally, and our primary market is the United States where our key sales channel is HNF. We believe that our products are attractive to HNF retailers due to factors such as the strength of our brand names, the breadth of our product offerings, the quality and efficacy of our products and the availability of service, sales support and educational materials. We have developed numerous Internet sites (including www.alvita.com, www.metabolife.com, www.reserveage.com, www.resvitale.com, and www.twinlab.com) that provide information about our branded lines and the various products within each brand. We have included our Internet sites here and elsewhere only as an inactive textual reference. The information contained on our Internet sites are not incorporated by reference into this Report.

***Sales***

We employ a sales force dedicated to each of the individual sales channels in which we sell our products. The dynamics and buying patterns of the various channels require strategic initiatives and tactics. Our sales strategy includes several models that are applied to best serve the respective channels where our products are sold:

(i) Direct sales representatives regularly meet with their assigned customers in their respective areas to assist in the procurement of orders for products, provide related product sales assistance and introduce new products to buyers.

(ii) We also engage an independent broker network, where we leverage their particular expertise and relationships with customers.

(iii) Additionally, our products are sold through the sales force of distributors who carry select product lines.

***Marketing and Promotion***

TCC markets to consumers shopping through numerous sales channels and online e-tailers. Each channel demands a different approach that meets its distinctive needs. The following is a brief overview of the channels in which we market our varied brands:

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| | |
|:---|:---|
| **Sales Channel**  | **Specifics**  |
| **Specialty** | Retailers who specialize in supplements (i.e., The Vitamin Shoppe; and GNC) |
| **Health and Natural Foods**  | Health and Natural Food retailers such as Whole Foods and Sprouts to small health food stores and their associated online platforms  |
| **Food, Drug and Mass Market**  | Retailers ranging from national and regional grocery to 'big box' stores (such as Target) and their associated online platforms  |
| **Direct to Consumer**  | Company owned and operated websites  |
| **eTailers** | Online e-tailers, such as Amazon , whose primary store is digital |
| **International**  | Distributors found in the countries in which we currently do business  |

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**Marketing Efforts by Brand**

*Reserveage*™ *Nutrition*

Reserveage™ Nutrition uses consistent messaging to emphasize our use of premium and traceable ingredients that are backed by published clinical studies. The brand takes a 360-degree marketing approach to drive sales to our retail partners. The focus is to grow brand awareness and increase sales directed at both the retail community and our end consumers.

Marketing strategies for Reserveage™ Nutrition include two main initiatives: 1) introduce new users to our core categories – anti-aging and beauty from within – through innovation and expanded categories, product trial, advertising and promotional programs and 2) increase in-store education through dedicated brand ambassadors in strategic markets.

Marketing and promotional efforts for Reserveage™ Nutrition focus on both trade and consumer tactics:

Public Relations/Influencers – Outreach to media and influencers has resulted in features and reviews in online and print media channels. This channel is especially important in our beauty from within line of products, where online influencers can both positively or negatively affect the success of a product.

Sampling – Many products are immediately experiential either because of their taste or effect. We use samples and retail demo programs to allow for trial and education of our products. These are generally conducted in-store using our own brand ambassadors or third-party representatives.

Retail Activation – Utilizing on-shelf promotional tactics, including coupons and associate engagement tools, to generate awareness and differentiate our brand.

Consumer and Trade Print Ads – Print advertising is coordinated with product introductions.

Digital/Social Activation - Target and retarget prospective consumers through search engine optimization, search engine marketing, and social media campaigns.

*ResVitale*®

The ResVitale® brand of dietary supplements is marketed and sold to GNC and online. Marketing strategies for the ResVitale® brand include two main initiatives: 1) to introduce new users to our core categories – anti-aging and beauty from within – through awareness campaigns and product trial and 2) to increase in-store education in strategic markets.

*Twinlab*® *Brand Vitamins*

Twinlab® is a heritage brand of vitamins that has been in the market for over 50 years and carries a great deal of brand awareness amongst health and natural food consumers. Twinlab® is predominantly sold in HNF, eTailers and Internationally.

Marketing strategies for Twinlab® include two main initiatives: 1) awareness and trial of key existing products and 2) awareness, trial and education for new products.

Marketing and promotional efforts for Twinlab® focus on both trade and consumer tactics:

Public Relations and Bloggers – Outreach to media and blogger influencers has resulted in features and reviews in online and print media channels.

Retailer Promotions – In-store promotional programs can drive consumer awareness when they are making purchase decisions.

Consumer and Trade Print Ads – Print advertising is coordinated with product introductions.

Trade Shows – Retailer relations and new product launches are the main areas of focus during trade shows. Display and promotion of products at several industry trade shows annually is a key component of support for Twinlab®.

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*Alvita*® *Teas*

Started in 1922, Alvita® Teas is an herbal therapeutic tea line with a rich history and loyal customer base. The herb alfalfa, long known for its beneficial nutrients, was packaged in tea bags and sold to an emerging health food market. This product became known as Alvita®. After reaching 100 years, Alvita® has become the oldest herbal tea brand. Today, Alvita® has more than 30 single ingredient high potency teas, each with distinct health benefits. Each tea is committed to third party certifications and offers the purity standards of Organic, Gluten-free, non-GMO, caffeine free and Kosher certifications.

Marketing tactics for Alvita® include retailer promotions, coupons and trade show participation.

**Research and Development; Quality Assurance**

We have a commitment to research and development ("R&D") and to introducing innovative products to correspond with consumer trends and scientific research. We believe that product quality and innovation are fundamental to our long-term growth and success. Through our R&D and quality assurance ("QA") efforts, as well as our relationships with select and current Good Manufacturing Practices ("cGMPs") audited contract manufacturing partners, we seek to (i) test the safety, purity and potency of products, (ii) develop testing methods for ensuring and verifying the consistency of the dosage of ingredients included in our products, (iii) develop new, more effective product delivery forms and (iv) develop new products either by combining existing ingredients used in dietary supplements or identifying new ingredients that can be used in dietary supplements. Our efforts are designed to lead not only to the development of new and improved products, but also to ensure effective manufacturing quality assurance measures.

We conduct research and formulation aspects of R&D in-house, and also work with contract manufacturers and third-party laboratories to perform testing and other aspects of R&D. We currently employ various professionals in R&D and quality assurance with expertise in, among other things, nutrition, herbal medicine, and chemistry.

Our quality assurance and safety programs seek to ensure the safety and superior quality of our products and that they are manufactured in accordance with cGMPs. We have always had a focus on safety, quality, efficacy and compliance with law. We always conduct a comprehensive cGMP audit to qualify a contract manufacturer before conducting business with them.

**Significant Customers**

Sales to our top three customers aggregated to approximately 53% and 32% of total consolidated sales in 2024 and 2023, respectively. Sales to one of those customers were approximately 24% and 15% of total sales in 2024 and 2023, respectively. Accounts receivable from these customers were approximately 62% and 42% of total accounts receivable as of December 31, 2024 and 2023, respectively.

**Manufacturing**

Our products are manufactured by highly qualified third-party providers located primarily in the U.S. These contract manufacturers do business with us under both short- and long-term contracts depending on our needs. We do not manufacture any of the basic materials used in packaging (bottles, boxes, shipping cartons, caps, tamper resistant films, etc.). We believe that increasing manufacturing capabilities through our contract manufacturer partners provides us with competitive advantages.

**Materials and Suppliers**

We employ a supply chain staff that works with marketing, product development, formulations and quality assurance personnel to oversee contract manufacturers and source raw materials for products as well as other items purchased by us. Raw materials are sourced by a variety of domestically and internationally approved suppliers principally from the United States, Europe and China. We believe our relationships with our principal suppliers are good. Our top two suppliers accounted for32% of our purchases for the year ended December 31, 2024. Whenever possible, we have adopted dual sourcing for raw materials to mitigate the impact of raw materials shortages that happen from time to time.

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**Government Regulation**

The formulation, manufacturing, packaging, labeling, advertising, distribution and sale of our products are subject to regulation by a number of United States federal agencies, including the Food and Drug Administration ("FDA"), the Federal Trade Commission ("FTC"), the Consumer Product Safety Commission ("CPSC"), the United States Department of Agriculture ("USDA"), Department of Labor Occupational Safety and Health Agency ("OSHA"), Department of Homeland Security Customs and Boarder Protection ("CBP"), Department of Transportation ("DOT"), and the Environmental Protection Agency ("EPA"), by various governmental agencies for the states and localities in which our products are sold, and by governmental agencies in countries outside the United States in which our products are sold.

The FDA regulates the formulation, manufacturing, packaging, labeling, distribution and sale of food, including dietary supplements, cosmetics, and over-the-counter ("OTC") drugs. The FTC regulates the advertising of these products. Federal agencies, primarily the FDA and the FTC, have a variety of procedures and enforcement remedies available to them, including initiating investigations, issuing warning letters and cease-and-desist orders, requiring corrective labeling or advertising, requiring consumer redress, seeking injunctive relief or product seizures, imposing civil penalties or commencing criminal prosecution. In addition, certain state agencies have similar authority.

The Dietary Supplement Health and Education Act ("DSHEA") was enacted in 1994, amending the Federal Food, Drug, and Cosmetic Act ("FDCA"). Dietary ingredients marketed in the United States before October 15, 1994 may be marketed without the submission of a "new dietary ingredient" premarket notification to the FDA. New dietary ingredients, with some exceptions not marketed in the United States before October 15, 1994, are required to be submitted to the FDA at least seventy-five days before marketing. In addition, dietary ingredients and applicable excipients on the FDA's GRAS list (Generally Regarded As Safe) may be included in dietary supplement formulations. Among other things, DSHEA prevents the FDA from regulating dietary ingredients in dietary supplements as "food additives" and allows the use of statements of structure function claims on product labels and in labeling, so long as those statements do not constitute disease claims and are truthful and sufficiently substantiated. Some of our products are also regulated as conventional foods under the Nutrition Labeling and Education Act of 1990 ("NLEA").

The FDA issued a Final Rule on GMPs (Good Manufacturing Practices) for dietary supplements in June 2007. The GMPs cover manufacturers, packagers, labelers, distributors, and holders of finished dietary supplement products, including dietary supplement products manufactured outside the United States that are imported for sale into the United States. Among other things, these GMPs require identity testing on all incoming dietary ingredients, call for a "scientifically valid system" for ensuring finished products meet all specifications, include requirements related to process controls such as statistical sampling of finished batches for testing and requirements for written procedures and require extensive recordkeeping.

The Food Allergen Labeling and Consumer Protection Act of 2004 ("FALCPA") addresses, among other issues, the labeling of foods (including dietary supplements) that contain certain food allergens. Under FALCPA, a "major food allergen" is an ingredient that contains protein derived from one of the following: milk, egg, fish, Crustacean shellfish, tree nuts, wheat, peanuts or soybeans.

The Dietary Supplement and Nonprescription Drug Consumer Protection Act went into effect in December 2007. The law requires, among other things, that companies that manufacture or distribute nonprescription drugs or dietary supplements report serious adverse events allegedly associated with their products to the FDA and institute recordkeeping requirements for all adverse events (serious and non-serious).

The Consumer Product Safety Improvement Act of 2008 ("CPSIA") primarily addresses children's product safety but also improves the administrative process of the CPSC. Among other things, the CPSC/CPSIA impact on dietary supplements is principally in requirements for use of child resistant closures, performance validation of such closures, and requirements for packaging and labeling of iron-containing products. The CPSIA also requires testing and certification of certain products and enhances the CPSC's authority to order recalls.

The FDA Food Safety Modernization Act ("FSMA"), enacted in January 2011, amended the FDCA to significantly enhance the FDA's authority over various aspects of food regulation. The FSMA granted the FDA mandatory recall authority when the FDA determines there is a reasonable probability that a food is adulterated or misbranded and that the use of, or exposure to, the food will cause serious adverse health consequences or death to humans or animals. Other changes include, but are not limited to, the FDA's expanded access to records; the authority to suspend food facility registrations and require high risk imported food to be accompanied by a certification; stronger authority to administratively detain food; the authority to refuse admission of an imported food if it is from a foreign establishment to which a U.S. inspector is refused entry for an inspection; and the requirement that importers verify that the foods they import meet domestic standards.

Although dietary supplement facilities are exempt from preventive controls requirements, dietary ingredient facilities might not qualify for the exemption. FDA's proposed preventative controls regulations would require that facilities develop and implement preventive controls to assure that identified hazards are significantly minimized or prevented, monitor the effectiveness of the preventive controls, and maintain numerous records related to those controls.

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California Proposition 65 ("Prop 65") is particularly impactful and imposing among state regulations. Its impact on product formulations, testing, and labeling are extensive and significant. Because of national brand distribution, the impact of Prop 65 is far reaching. TCC has several Prop 65 consent agreements that afford compliance protections.

The sale of our products in countries outside the United States is regulated by the governments of those countries. Our plans to commence or expand sales in those countries may be prevented or delayed or even suspended by such regulations or regulators in those countries. In countries in which we have distributors, compliance with such regulations is generally undertaken by our distributors, but even in these cases we often cooperate by providing information to distributors. In the case of Canada, TCC complies with Health Canada's Natural Health Products Directorate ("NHPD") with "site licensing" of the TCC manufacturing plant and registration of products.

**Competition**

**Health and Natural Foods**

The Natural Products Market and the Vitamin, Minerals, and Supplements Market (the "VMS Market") are highly competitive. Our principal competitors in the VMS Market that sell to the health and natural foods channel include a number of large, nationally-known brands (such as Bluebonnet, Country Life, Enzymatic Therapy, Garden of Life, Jarrow Formulas, Natural Factors, Nature's Plus, Nature's Way, Nordic Naturals, Now Foods, New Chapter and Solgar) and many smaller brands, manufacturers and distributors of nutritional supplements. Because both the health and natural foods market and the VMS Market generally have low barriers to entry, additional competitors enter the market regularly.

Private label products of our customers also provide competition to our products. Whole Foods Market, The Vitamin Shoppe, Sprouts Farmers Market, Natural Grocers and many health and natural food stores also sell a portion of their offerings under their own private labels. Private label products are often sold at a discount to branded products.

We believe that stores in the HNF channel are increasingly likely to align themselves with those companies that offer a wide variety of high-quality products, have a loyal consumer base, support their brands with strong marketing and education programs and provide consistently high levels of customer service. We believe that we compete favorably with other nutritional supplement companies because of our comprehensive line of products and brands, premium brand names, commitment to quality, ability to rapidly introduce innovative products, competitive pricing, strong and effective sales force, distribution strategy and sophisticated marketing and promotional support. The wide variety and diversity of the forms, potencies and categories of our products are important points of differentiation between us and many of our competitors.

**Mass Market**

Metabolife® is our primary focus in the mass market retail channel. It is possible that as an increasing number of companies (or brands) sell nutritional supplement products and other natural products in the mass market channels, such as Pharmavite (Nature Made), KKR & Co. L.P. (Nature's Bounty), Reckitt Benckiser Group (Schiff), Hain Celestial and Church & Dwight, our mass market brands will be negatively impacted. In addition, several major pharmaceutical companies continue to offer nutritional supplement lines in the mass market channel, including Pfizer (Centrum) and Bayer (One-A-Day).

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**Intellectual Property**

We own numerous trademarks that have been registered with the United States Patent and Trademark Office and have filed applications to register additional trademarks. In addition, we claim domestic trademark and service mark rights in numerous additional marks that we use. We own a number of trademark registrations in countries outside the United States. Federally registered trademarks in the United States have a perpetual life, as long as they are maintained and renewed on a timely basis and used properly as trademarks, subject to the rights of third parties to seek cancellation of the trademarks if they claim priority or confusion of usage. Most foreign trademark offices use similar trademark renewal processes. Additionally, we hold several patents that have been registered with the United States Patent and Trademark Office and may file additional applications. We regard our trademarks, patents and other proprietary rights as valuable assets and believe they make a significant positive contribution to the marketing of our products.

We protect our legal rights concerning our intellectual property by taking appropriate legal action. We rely on common law trademark rights to protect our unregistered trademarks. Common law trademark rights do not provide us with the same level of protection as afforded by a United States federal registration of a trademark. In addition, common law trademark rights are limited to the geographic area in which the trademark is actually used. We have registered and intend to register certain trademarks in certain limited jurisdictions outside the United States where our products are sold, but we may not register all or even some of our trademarks in every country in which we conduct business or intend to conduct business.

We sell many products that include patented ingredients. We purchase these ingredients from parties that we believe are licensed by the patent owner to sell and manufacture goods with the patent ingredients. However, there are a large number of patents that have been granted or applied for in the dietary supplement industry, and there may be an increased possibility that third parties will seek to compel us and our competitors to purchase their "patented ingredients" directly from them under threat that patent ingredient we properly obtain, infringes on their patent rights. We generally obtain indemnification from the patent owner through separate end user licensing agreements to increase our protection from these third parties or "non-practicing entities," should they try to enforce such claim through litigation. The cost of these patented ingredients is typically higher than the cost of non-patented ingredients.

**Employees**

As of March 3, 2026, we had approximately 6 full-time employees and 1 part-time employee. As of December 31, 2024, we had approximately 7 full-time employees and no part-time employees. None of our employees are represented by a labor union or covered by a collective bargaining agreement. We consider our relationship with our employees to be good.

[**Item 1A. Risk Factors**](#TOC)

Our business, financial condition, results of operations, cash flows, prospects, and the prevailing market price and performance of our common stock may be adversely affected by a number of factors, including the matters discussed below. Certain statements and information set forth in this Annual Report on Form 10-K, including without limitation statements regarding our strategic initiatives and expectations for the future performance of our business, as well as other written or oral statements made from time to time by us, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact, including statements that describe our objectives, plans, or goals, are, or may be deemed to be, forward-looking statements. Known and unknown risks, uncertainties, and other factors may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by these statements. The risks, uncertainties, and other factors that our stockholders and prospective investors should consider include the following:

**Bankruptcy Risks**

***We may file for bankruptcy protection, or an involuntary petition for bankruptcy may be filed against us.***

As described throughout this Form 10-K, we have a substantial amount of debt and we are currently in default under various debt agreements as well as obligations under various lease agreements. If we are unable to extend or refinance our debt and negotiate settlements or alternative lease agreements, or if our debt is accelerated due to a default by us, our assets may not be sufficient to repay our debt and obligations in full, and our available cash flow may not be adequate to maintain our current operation. Under those circumstances, or if we believe those circumstances are likely to occur, we may be required to seek protection under court supervision pursuant to a voluntary bankruptcy filing under Chapter 11 of the U.S. Bankruptcy Code. In addition, under certain circumstances creditors may file an an involuntary petition for bankruptcy against us.

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***If we file for bankruptcy protction, our business and operations will be subject to certain risks.***

A bankruptcy filing under Chapter 11 of the U.S. Bankruptcy Code would subject our business and operations to various risks, including but not limited to, the following:

● our suppliers may attempt to cancel our contracts or restrict ordinary credit terms, require financial assurances of performance or refrain entirely from shipping goods; 

● our employees may become distracted from performance of their duties or more easily attracted to other career opportunities; 

● the coordination of a bankruptcy filing and operating under protection of the bankruptcy court would involve significant costs, including expenses of legal counsel and other professional advisors; 

● we may have difficulty continuing to obtain and maintain contracts necessary to continue our operations and at affordable rates with competitive terms; 

● we may have difficulty maintaining existing and building new relationships;

● transactions outside the ordinary course of business would be subject to the prior approval of the Bankruptcy Court, which may limit our ability to respond timely to certain events or take advantage of certain opportunities; 

● we may not be able to obtain court approval or such approval may be delayed with respect to motions made in the bankruptcy proceedings; 

● we may be unable to retain and motivate key executives and associates through the process of a Chapter 11 reorganization, and we may have difficulty attracting new employees; 

● there can be no assurance as to our ability to maintain or obtain sufficient financing sources for operations or to fund any reorganization plan and meet future obligations; 

● the value of our common stock could be affected as a result of a bankruptcy filing. 

As with any judicial proceeding, a Chapter 11 proceeding (even if there is a pre-packaged or pre-arranged plan of reorganization) involves the potential for significant delays in reaching a final resolution. In a Chapter 11 proceeding, there are risks of delay with the confirmation of the plan of reorganization and there are risks of objections from certain stakeholders, including any creditors that vote to reject the plan, that could further delay the process and potentially cause a plan of reorganization to be rejected by the court. Any material delay in the confirmation of a Chapter 11 proceeding would compound the risks described above and add substantial expense and uncertainty to the process.

**Market and Channel Risks**

***Geopolitical issues, conflicts and other global events could adversely affect our results of operations and financial condition.***

Our business is subject to global political issues and conflicts. Such political issues and conflicts could have a material adverse effect on our results of operations and financial condition if they escalate in areas in which we do business or to the extent that they impact the global macroeconomic systems. In addition, changes in and adverse actions by governments in foreign markets in which we do business could have a material adverse effect on our results of operations and financial condition. For example, the continuing conflict arising from the Russian invasion into Ukraine, and the ongoing conflict in the Middle East, could adversely impact macroeconomic conditions, give rise to regional instability and result in heightened economic tariffs, sanctions and import-export restrictions from the U.S. and the international community in a manner that adversely affects us, our financial condition, results of operations, cash flows and performance.

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***Adverse economic conditions related to the COVID-19 pandemic or future pandemic may harm our business.***

Inflation and other changes in economic conditions related to the ongoing COVID-19 pandemic, and the future outbreak of other highly infectious or contagious diseases, could materially and adversely impact or disrupt our financial condition, results of operations, cash flows and performance.

The COVID-19 pandemic had, and another pandemic in the future could have, repercussions across regional and global economies and financial markets. The outbreak of COVID-19 in many countries, including the United States, significantly adversely impacted global economic activity and contributed to significant volatility and negative pressure in financial markets. The global impact of the outbreak in many countries, including the United States, resulted in quarantines, business and school closures, and restrictions on travel.

Certain states and cities, including where our principal place of business is located, reacted by instituting quarantines, restrictions on travel, "shelter in place" rules, and/or restrictions on types of business that may continue to operate. While these restrictions have been lifted, the Company cannot predict if future impacts of COVID-19, including the emergence of new variants, will lead to the reinstitution of similar restrictions or the implementation of new restrictions. The COVID-19 pandemic had negatively impacted almost every industry directly or indirectly, including industries in which the Company and our customers and business partners operate. The COVID-19 pandemic, or a future pandemic, could also have material and adverse effects on our ability to successfully operate and on our financial condition, results of operations and cash flows due to, among other factors:

● the potential negative impact on the health of our personnel, particularly if a significant number of them are impacted, could result in a deterioration in our ability to ensure business continuity during this disruption;

● a complete or partial closure of, or other operational issues at our third-party logistics provider ("3PL") resulting from government action;

● the reduced economic activity severely impacts our customers' businesses, financial condition and liquidity and may cause one or more of our customers to be unable to meet their obligations to us in full, or at all, or to otherwise seek modifications of such obligations;

● the reduced economic activity could result in a prolonged recession, which could negatively impact consumer discretionary spending and lead to reduced demand for our products and a decrease in sales;

● difficulty accessing debt and equity capital on attractive terms, or at all, impacts to our credit ratings, and a severe disruption and instability in the global financial markets or deteriorations in credit and financing conditions may affect our access to capital necessary to fund business operations or address maturing liabilities on a timely basis and our customers' ability to fund their business operations and meet their obligations to us;

● the financial impact of a pandemic could negatively impact our future compliance with financial covenants of our debt agreements and result in a default and potentially an acceleration of indebtedness, which non-compliance could negatively impact our ability to make additional borrowings;

● any impairment in value of our tangible or intangible assets that could be recorded as a result of a weaker economic conditions; and

● a deterioration in our or our customers' ability to operate in affected areas or delays in the supply of products or services to us or our customers from vendors that are needed for our or our customers' efficient operations could adversely affect our operations and those of our customers.

The extent to which the COVID-19 pandemic or another pandemic in the future may impact our operations and those of our customers will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others. Any future closures by our customers of their stores could reduce our cash flows.

***Our success is linked to the size and growth rate of the vitamin, mineral and supplement market and an adverse change in the size or growth rate of that market could have a material adverse effect on us.***

An adverse change in the size or growth rate of the vitamin, mineral and supplement market could have a material adverse effect on us. Underlying market conditions are subject to change based on economic conditions, consumer preferences, the impact of wide spread health concerns or pandemics and other factors that are beyond our control, including media attention and scientific research, which may be positive or negative.

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***Because a substantial portion of our sales are to or through health food stores, we are dependent to a large degree upon the success of this channel as well as the success of specific retailers in the channel.***

We sell primarily in the United States and, in this market, a significant portion of our sales are through health food stores. Because of this, we are dependent to a large degree upon the success of that channel as well as the success of specific retailers in the channel. There are some large chains of health food stores, such as Whole Foods Market and The Vitamin Shoppe, but many health food stores are individual stores or very small chains. We rely on these health food stores to purchase, market, and sell our products. A fair portion of our success is dependent, to a large degree, on the growth and success of the health and natural foods channel, which is outside our control. There can be no assurance that the health and natural foods channel will be able to grow or prosper as it faces price and service pressure from other channels, including the mass market. There can be no assurance that retailers in the health and natural foods channel, in the aggregate, will respond or continue to respond to our stated loyalty to this channel.

***We are highly dependent upon consumers' perception of the safety and quality of our products as well as similar products distributed by other companies in our industry, and adverse publicity and negative public perception regarding particular ingredients or products or our industry in general could limit our ability to increase revenue and grow our business.***

Decisions about purchasing made by consumers of our products may be affected by adverse publicity or negative public perception regarding particular ingredients or products or our industry in general. This negative public perception may include publicity regarding the legality or quality of particular ingredients or products in general or of other companies or our products or ingredients specifically. Negative public perception may also arise from regulatory investigations, regardless of whether those investigations involve us. We are highly dependent upon consumers' perception of the safety and quality of our products as well as similar products distributed by other companies. Thus, the mere publication of reports asserting that such products may be harmful could have a material adverse effect on us, regardless of whether these reports are scientifically supported. Publicity related to nutritional supplements may also result in increased regulatory scrutiny of our industry and/or the health foods industry. Adverse publicity may have a material adverse effect on our business, financial condition and results of operations. There can be no assurance of future favorable scientific results and media attention or of the absence of unfavorable or inconsistent findings.

***We face intense competition from competitors that are larger, more established and that possess greater resources than we do, and if we are unable to compete effectively, we may be unable to maintain sufficient market share to sustain profitability.***

Numerous manufacturers and retailers compete actively for consumers. There can be no assurance that we will be able to compete in this intensely competitive environment. In addition, nutritional supplements can be purchased in a wide variety of channels of distribution. These channels include mass market retail stores and the Internet. Because these markets generally have low barriers to entry, additional competitors could enter the market at any time. Private label products of our customers also provide competition to our products. Additional national or international companies may seek in the future to enter or to increase their presence in the health foods industry or the vitamin, mineral and supplement market. Increased competition in either or both could have a material adverse effect on us.

***The nutritional supplement industry increasingly relies on intellectual property rights and although we seek to ensure that we do not infringe the intellectual property rights of others, there can be no assurance that third parties will not assert intellectual property infringement claims against us, which claims may result in substantial costs and diversion of management and other resources and could have a material adverse effect on our business, financial condition and operating results. Our inability to acquire, protect or maintain our intellectual property could harm our ability to compete or grow.***

Recently it has become more and more common for suppliers and competitors to apply for patents or develop proprietary technologies and processes. We seek to ensure that we do not infringe the intellectual property rights of others, but there can be no assurance that third parties will not assert intellectual property infringement claims against us. These developments could prevent us from offering or supplying competitive products or ingredients in the marketplace. They could also result in litigation or threatened litigation against us related to alleged or actual infringement of third-party rights. If an infringement claim is asserted or litigation is pursued, we may be required to obtain a license of rights, pay royalties on a retrospective or prospective basis or terminate our manufacturing and marketing of our products that are alleged to have infringed. Litigation with respect to such matters could result in substantial costs and diversion of management and other resources and could have a material adverse effect on our business, financial condition and results of operations. We have numerous United States and foreign trademarks and service marks. There can be no assurance that the protection afforded by these trademarks and service marks will provide us with a competitive advantage or that we will be able to assert our intellectual property rights in infringement actions.

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***We may be affected adversely by future increases to utility and fuel costs.***

Future increases in fuel costs may affect our results of operations adversely in that consumer traffic to health and natural food stores may be reduced and the costs of our sales may increase as we incur higher fuel costs in connection with the transportation of goods from our warehouse and distribution facilities to health and natural food stores. Also, increases in oil costs can affect the cost of our raw materials and components and the competitive environment in which we operate may limit our ability to recover higher costs resulting from future increases in fuel prices.

**Business Strategy and Operational Risks**

***If we are unable to retain key personnel and members of our Board of Directors, our ability to manage our business effectively could be negatively impacted.***

Key management employees of the company and its subsidiaries include Anthony Zolezzi as Chief Executive Officer and Chairman and Kyle Casey as Chief Financial Officer. These key management employees are primarily responsible for our day-to-day operations, and we believe our success depends in part on our ability to retain them and to continue to attract additional qualified individuals to our management team. We have experienced several resignations from management and the Board of Directors in 2022 including Craig Fabel who served as the Chief Executive Officer. In 2023 Daniel DiPofi who previously served as Chief Executive Officer, and B. Thomas Golisano and Seth Ellis who were members of the Board of Directors resigned. In 2025, David L. Van Andel resigned from him position on the Board of Directors. The loss or limitation of the services of any of our key management employees or members of our Board of Directors or the inability to attract additional qualified management personnel could have a material adverse effect on our business, financial condition and results of operations.

***As a part of our business strategy, we have completed and may pursue acquisitions in the future that could disrupt our operations and harm our operating results.***

An element of our historical business strategy has included expanding our product offerings, gaining shelf-space and gaining access to new skills and other resources through strategic acquisitions when attractive opportunities arise. Acquiring additional businesses and the implementation of other elements of our business strategy are subject to various risks and uncertainties. Some of these factors are within our control and some are outside our control. These risks and uncertainties include, but are not limited to, the following:

• any acquisition may result in significant expenditures of cash, stock and/or management resources, 

• acquired businesses may not perform in accordance with expectations, 

• we may encounter difficulties, delays and costs with the integration of the acquired businesses, 

• we may be unable to achieve the anticipated operating and cost synergies or long-term strategic benefits we expect,

• management's attention may be diverted from other aspects of our business,

• we may face unexpected problems entering geographic and product markets in which we have limited or no direct prior experience,

• we may lose key employees of acquired or existing businesses,

• we may incur liabilities and claims arising out of acquired businesses,

• we may be unable to obtain financing,

• we may incur indebtedness or issue additional capital stock which could be dilutive to holders of our common stock, and

• we may acquire a substantial amount of goodwill and other intangible assets as a result of acquisitions and as a result, we may experience in the future impairments of goodwill or other intangible assets.

There can be no assurance that attractive acquisition opportunities will be available to us, that we will be able to obtain financing (on acceptable terms or at all) for or otherwise consummate any future acquisitions, including those described above, or that any acquisitions which are consummated will prove to be successful. There can be no assurance that we can successfully execute all aspects of our business strategy.

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***Because we depend on outside suppliers with whom we may not have long-term agreements for raw materials, we may be unable to obtain adequate supplies of raw materials for our products at favorable prices or at all, which could result in product shortages and back orders for our products, with a resulting loss of net sales and profitability.***

We acquire all our raw materials for the manufacture of our products from third-party suppliers. Currently, we rely on third-party co-packers for our products; our reliance on them has increased as the result of winding down our Utah manufacturing facility in 2018. We have selective agreements for the continued supply of materials and products. Several of our products contain one or more ingredients that may only be available from a single source or supplier. Any of our suppliers could discontinue selling to us at any time. In certain situations, we may be required to alter our products or substitute different materials from different alternative sources. Our suppliers or government regulators may interpret new regulations (including cGMP regulations) in such a way as to cause a disruption in our supply chain as these parties undertake increased scrutiny of raw materials and components of raw materials and products, causing certain suppliers or us to discontinue, change or suspend the sale of certain ingredients or components. Although we believe that we could establish alternate sources for most of these materials, any delay in locating and establishing relationships with other sources could result in product shortages and back orders for the products, with a resulting loss of net sales and profitability. We are also subject to delays associated with raw materials. These can be caused by conditions not within our control, including:

• burdensome tariffs, 

• weather,

• crop conditions, 

• transportation interruptions, 

• strikes by supplier employees, and 

• natural disasters, pandemics or other catastrophic events. 

These factors could result in a delay in or disruption of the supply of certain raw materials. Any significant delay in or disruption of the supply of raw materials could have a material adverse effect upon us.

***We rely on our information systems to conduct our business, and any failure to protect these systems against security breaches or failure of these systems themselves could adversely affect our business, results of operations and liquidity and could result in litigation and penalties. If these systems fail or become unavailable for any significant period of time, our business could be harmed. Additionally, the inappropriate use of social media vehicles could harm our reputation and adversely impact our business.***

The efficient operation of our business is dependent on computer hardware and software systems. Among other things, these systems collect and store certain personal information from customers, vendors and employees and process customer payment information. Our information systems and those maintained by our third-party vendors and the sensitive data they are designed to protect are vulnerable to security breaches by computer hackers, cyber terrorists and other cyber attackers. Cyber attacks are expected to accelerate on a global basis and threats are increasingly sophisticated in using techniques and tools, including artificial intelligence, that are designed to circumvent security controls and evade detection. We rely on industry accepted security measures and technology to securely maintain confidential and proprietary information maintained on our information systems, and we rely on our third-party vendors to take appropriate measures to protect the confidentiality of the information on those information systems. However, these measures and technology may not adequately prevent security breaches. Our information systems may become unavailable or fail to perform as anticipated for any reason, including viruses, loss of power or human error. Any significant interruption or failure of our information systems or those maintained by our third-party vendors or any significant breach of security could adversely affect our reputation with our customers, vendors and employees and could adversely affect our business, results of operations and liquidity and could result in litigation against us or the imposition of penalties. A significant interruption, failure or breach of the security of our information systems or those of our third-party vendors could also require us to expend significant resources to upgrade the security measures and technology that guard sensitive data against computer hackers, cyber terrorists and other cyber attackers.

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Additionally, we rely on search engine marketing and social media platforms to attract and retain customers as part of our marketing efforts. A variety of risks are associated with the use of social media, including the improper disclosure of proprietary information, negative comments about our company and our products, exposure of personally identifiable information, fraud, or outdated information. The inappropriate use of social media vehicles by our customers or employees could increase our costs, lead to litigation or result in negative publicity that could damage our reputation.

***To the extent that we currently rely on third-party manufactures, now and in the future, we are dependent upon the uninterrupted and efficient operation of those third-party facilities, which may experience power failures, the breakdown, failure or substandard performance of equipment, the improper installation or operation of equipment, natural disasters, pandemic outbreaks or other disasters and the need to comply with the requirements or directives of government agencies, including the FDA.***

We are dependent upon the uninterrupted and efficient operation of our third-party manufacturing partners. Those operations may experience power failures, the breakdown, failure or substandard performance of equipment, the improper installation or operation of equipment, natural disasters, pandemic outbreaks or other disasters and the need to comply with the requirements or directives of government agencies, including the FDA. There can be no assurance that the occurrence of these or any other operational problems at our facility would not have a material adverse effect on our business, financial condition and results of operations.

***We are currently a party to a lawsuit and may become a party to additional lawsuits that arise in the ordinary course of business in the future.***

We are currently a party to a lawsuit and may become a party to additional lawsuits that arise in the ordinary course of business in the future. We are currently a party to a lawsuit filed in state court in Florida by our landlord in connection with our lease for the property in St. Petersburg, Florida. As described in this Form 10-K, the landlord alleges we have breached the terms of the lease and is seeking damages in the amount of approximately $963,000. As of the date of this filing, we have not responded to the complaint. It is possible that our failure to respond to the complaint will result in a default judgement against us or alternatively that any response to the compliant or future actions on our part to defend against this litigation will be unsuccessful and result in an adverse judgment against us. Such a default or adverse judgment count result in the imposition of material damages and other costs and have a material adverse effect on us. The possibility of additional litigation, and its timing, is in large part outside our control. It is possible that future litigation could arise that could have material adverse effects on us.

***If our goodwill or intangible assets become impaired, we may be required to record a significant charge to earnings.***

Under generally accepted accounting principles, we review our amortizable intangible assets for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. Goodwill and indefinite-lived intangible assets are tested for impairment at least annually. Factors that may indicate that the carrying value of our goodwill or intangible assets may not be recoverable include a decline in stock price and market capitalization, reduced future cash flow estimates and slower growth rates in our industry. Due to the nature and size of our remaining assets, annual impairment testing was not performed in 2023 or 2024, nor was an impairment loss recognized. See Note 5 in the Notes to Consolidated Financial Statements included in this report.

***We may need additional capital in the future to finance our operations and to execute our business strategy, which we may not be able to raise, or it may only be available on terms unfavorable to us and or our stockholders. This may result in our inability to fund our working capital requirements and harm our operational results.***

Our current cash on hand is insufficient to fund our operations beyond the next twelve months. We believe that cash flows from operations and other committed sources of additional liquidity will be sufficient to fund our operations in the ordinary course of business. However, if we experience extraordinary expenses or other events beyond our control, we will need to raise additional funds to continue our operations.

Additional financing might not be available on terms favorable to us, or at all. The economic impact of world events and inflation could make it more difficult or challenging to obtain additional financing or adversely affect the favorability of the terms of any available financing. If adequate funds were not available or were not available on acceptable terms, our ability to fund our operations, take advantage of unanticipated opportunities, develop, or enhance our business or otherwise respond to competitive pressures would be significantly limited.

***Changes in accounting standards, especially those that relate to management estimates and assumptions, are unpredictable and may materially impact how we report and record our financial condition.***

Our accounting policies and methods are fundamental to how we record and report our financial condition and results of operations. Some of these policies require use of estimates and assumptions that may affect the value of our assets or liabilities and financial results and are critical because they require management to make difficult, subjective and complex judgments about matters that are inherently uncertain. From time to time the Financial Accounting Standards Board ("FASB") and the Securities and Exchange Commission (the "SEC") change the financial accounting and reporting standards that govern the preparation of our financial statements. In addition, accounting standard setters and those who interpret the accounting standards (such as the FASB, the SEC, banking regulators and our outside auditors) may change or even reverse their previous interpretations or positions on how these standards should be applied. These changes can be hard to predict and can materially impact how we record and report our financial condition and results of operations. In some cases, we could be required to apply a new or revised standard retroactively, resulting in our restating prior period financial statements.

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***Because of our history of accumulated deficits, recurring losses and negative cash flows from operating activities, we must improve profitability and may be required to obtain additional funding if we are to continue as a "going concern."***

We had recurring net operating losses in fiscal year 2024. We had negative working capital at the end of fiscal year 2024 and 2023. As of December 31, 2024, and 2023, our accumulated deficit was $379.6 million and $370.1 million, respectively. These factors raise substantial doubt about our ability to continue as a going concern. The financial statements included with this report do not include any adjustments that might result from the outcome of this uncertainty. In order for us to remove substantial doubt about our ability to continue as a going concern, we must achieve profitability, generate positive cash flows from operating activities and obtain necessary debt or equity funding.

Our financial statements have been prepared on a going concern basis, which assumes continuity of operations and realization of assets and liabilities in the ordinary course of business. Our independent registered public accounting firm has issued its report dated March 3, 2026, which includes an explanatory paragraph stating that our recurring losses, among other things, raise substantial doubt about our ability to continue as a going concern. It has been necessary to rely upon debt and the sale of our equity securities to sustain operations. Our management anticipates that we may require additional capital over the next 12 months to fund ongoing operations. There can be no guarantee that we will be able to obtain such funds, or obtain them on satisfactory terms, and that such funds would be sufficient.

***We are a fully remote company that does not maintain a physical office presence, which subjects us to unique operational risks.***

Being a *fully remote* company subjects us to unique operational risks. For example, technologies in our employees' homes may not be as robust as in a corporate office, and could cause the networks, information systems, applications, and other tools available to employees and service providers to be more limited or less reliable than in a corporate office. Further, the security systems in place at our employees' homes may be less secure than those used in a corporate office, and whole we have implemented technical and administrative safeguards to help protect our systems as our employees and service providers work from home, we may be subject to increased cybersecurity risk, which could expose us to risks of data or financial loss and could disrupt our business operations. There is no guarantee that the data security and privacy safeguards we have put in place will be completely effective or that we will not encounter risks associated with employees accessing Company data and systems remotely. In addition, operating remotely may negatively impact our corporate culture, including employee engagement and productivity.

**Regulatory, Product Liability and Insurance Risks**

***Our products are subject to government regulation, both in the United States and abroad, which could increase our costs significantly and limit or prevent the sale of our products.***

The manufacture, packaging, labeling, advertising, promotion, distribution and sale of our products are subject to regulation by numerous national and local governmental agencies in the United States and other countries. The primary regulatory bodies in the United States are the FDA and FTC, and we are also subject to similar regulatory bodies in all the countries in which we do business. Failure to comply with regulatory requirements may result in various types of penalties or fines. These include injunctions, product withdrawals, recalls, product seizures, fines and criminal prosecutions. Individual U.S. states also regulate nutritional supplements. A state may seek to interpret claims or products presumptively valid under federal law as illegal under that state's regulations. For example, in February 2015, the New York Attorney General issued cease and desist letters to several national retailers regarding certain herbal supplements and since that time both the New York Attorney General and other states Attorneys General have engaged in inquiries regarding the manufacture and sale of various supplements, and pursuant to such inquiries could seek to take actions against industry participants or amend applicable regulations in their State. In markets outside the United States, we are usually required to obtain approvals, licenses, or certifications from a country's ministry of health or comparable agency, as well as labeling and packaging regulations, all of which vary from country to country. Approvals or licensing may be conditioned on reformulation of products or may be unavailable with respect to certain products or product ingredients. Any of these government agencies, as well as legislative bodies, can change existing regulations, or impose new ones, or could take aggressive measures, causing or contributing to a variety of negative consequences, including:

• requirements for the reformulation of certain or all products to meet new standards,

• the recall or discontinuance of certain or all products,

• additional record keeping,

• expanded documentation of the properties of certain or all products,

• expanded or different labeling,

• adverse event tracking and reporting, and

• additional scientific substantiation.

Any or all of these requirements could have a material adverse effect on us. There can be no assurance that the regulatory environment in which we operate will not change or that such regulatory environment, or any specific action taken against us, will not result in a material adverse effect on us.

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***If we experience regulatory investigations or product recalls, we may incur significant and unexpected costs, and our business reputation could be adversely affected.***

We may be exposed to regulatory investigations or product recalls and adverse public relations if our products are alleged to cause injury or illness, or if we are alleged to have violated governmental regulations. A regulatory investigation or product recall could result in substantial and unexpected expenditures, which would reduce operating profit and cash flow. In addition, a regulatory investigation or product recall may require significant management attention. Regulatory investigations and product recalls may hurt the value of our brands and lead to decreased demand for our products. Regulatory investigations or product recalls also may lead to increased scrutiny by federal, state or international regulatory agencies of our operations and increased litigation and could have a material adverse effect on our business, results of operations, financial condition and cash flows. Regulatory investigations or product recalls could also result in our incurring substantial costs, losing revenues and implementing a change in the design, manufacturing process or the indications for which our products may be used, each of which could harm our business.

***We may experience product liability claims and litigation to prosecute such claims, and although we maintain product liability insurance, which we believe to be adequate for our needs, there can be no assurance that our insurance coverage will be adequate or that we will be able to obtain adequate insurance coverage in the future. In addition, we may be subject to consumer fraud claims, including consumer class action claims regarding product labeling and advertising, and litigation to prosecute such claims; these claims are generally not covered by insurance.*** 

As a distributor of products for human consumption, we experience from time to time product liability claims and litigation to prosecute such claims. Additionally, the sale and distribution of these products involves the risk of injury to consumers as a result of tampering by unauthorized third parties or product contamination. We carry insurance coverage in the types and amounts that we consider reasonably adequate to cover the risks we face from product liability claims. If insurance coverage is inadequate or unavailable or premium costs continue to rise, we may face additional claims not covered by insurance, and claims that exceed coverage limits or that are not covered could have a material adverse effect on us. Moreover, liability claims arising from a serious adverse event may in addition to increasing our costs through higher insurance premiums and deductibles, may make it more difficult to secure adequate insurance coverage in the future. In addition, consumer fraud claims, including consumer class action claims regarding product labeling and advertising, are increasingly common as to food and dietary supplement products. Because insurance is generally hard to obtain for such claims, these claims could have a material adverse effect on us. A product liability claim, regardless of its merit or ultimate outcome, could result in:

• injury to our reputation, 

• decreased demand for our products, 

• diversion of management's attention, 

• a change in the design, manufacturing process or the indications for which our marketed products may be used, 

• loss of revenue, and 

• an inability to commercialize product candidates. 

***We may be required to indemnify our contract manufacturing and/or retailer customers, the payment of which could have a material adverse effect on our business, financial condition and operating results.***

We provide certain rights of indemnification to our contract manufacturing customers. In the past we have had a claim tendered to us to defend approximately forty putative class actions alleging primarily that two products failed to contain sufficient active ingredients to meet label claims. We accepted such tender subject to a reservation of various rights and vigorously defended these cases. The matter culminated in a confidential settlement with the plaintiffs, which did not have a material adverse effect on our financial condition/results of operations or cash flows or liquidity at that time; however, any litigation involves risk and is inherently unpredictable. If any plaintiff is successful in certifying a class and thereafter prevailing on the merits of their complaint, such an adverse result could have a material adverse effect on us. In addition, due to the nature and scope of the indemnity and defense we will likely need to provide, the legal fees associated with such indemnification could be significant enough to have a material adverse effect on our cash flows until such matters are fully and finally resolved.

***We may experience Lanham Act claims by competitors and litigation to prosecute such claims.***

The Lanham Act empowers competitors to file suit regarding any promotional statements that the competitor believes to be false or misleading. If a competitor prevails, it could obtain monetary damages (including potentially treble damages and attorneys' fees). A court can also order corrective advertising, or even a product recall if the offending claims are found on the product's packaging and labeling. If we experience a Lanham Act claim filed against us, this could have a material adverse effect on us and on our products' reputation.

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**Risks Relating to Our Common Stock**

***Our common stock currently has very limited trading volume and holders of our securities may not be able to sell quickly any significant number of shares.***

Our common stock is quoted on the OTC Markets PK ("OTCPK"). There has been very limited trading volume of our common stock. Because of this, holders of our securities may not be able to sell quickly any significant number of such shares, and any attempted sale of a large number of our shares will likely have a material adverse impact on the price of our common stock. The price per share of our common stock is subject to volatility and may be subject to rapid price swings in the future.

***Because the trading price of our common stock is below $5.00 per share it is deemed a low-priced "Penny" stock and an investment in our common stock should be considered high risk and subject to marketability restrictions.***

Since our common stock is a penny stock, as defined in Rule 3a51-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), it will be more difficult for investors to liquidate their investment even if and when a market develops for the common stock. Since the trading price of the common stock is below $5.00 per share, trading in the common stock will be subject to the penny stock rules of the Exchange Act. Those rules require broker-dealers, before effecting transactions in any penny stock, to:

• Approve the customer for the specific penny stock transaction and receive from the customer a written agreement to the transaction, 

• Deliver to the customer, and obtain a written receipt for, a disclosure document describing risks of investing in penny stocks, 

• Disclose certain recent price information about the stock, 

• Disclose the amount of compensation received by the broker-dealer or any associated person of the broker-dealer, 

• Send monthly statements to customers with market and price information about the penny stock, and 

• In some circumstances, approve the purchaser's account under certain standards and deliver written statements to the customer with information specified in the rules. 

Consequently, the penny stock rules may restrict the ability or willingness of broker-dealers to sell the common stock and may affect the ability of holders to sell their common stock in the secondary market and the price at which such holders can sell any such securities. These additional procedures could also limit our ability to raise additional capital in the future.

***We have the ability to issue additional shares of our common stock and shares of preferred stock without asking for stockholder approval, which could cause your investment to be diluted.***

Our Articles of Incorporation authorize the Board of Directors to issue up to 5,000,000,000 shares of common stock and 500,000,000 shares of preferred stock. The power of the Board of Directors to issue shares of common stock, preferred stock or warrants or options to purchase shares of common stock or preferred stock is generally not subject to stockholder approval. Shares of preferred stock could be given voting rights, dividend rights, liquidation rights or other similar rights superior to those of our shares of common stock. Additionally, any additional issuance of our common stock, or preferred stock that may be convertible into common stock, may have the effect of diluting your investment.

***FINRA sales practice requirements may also limit a stockholder's ability to buy and sell our stock.***

In addition to the "penny stock" rules described above, FINRA has adopted rules that require that in recommending an investment to a customer, a broker-dealer must have reasonable grounds for believing that the investment is suitable for that customer. Prior to recommending speculative low-priced securities to their non-institutional customers, broker-dealers must make reasonable efforts to obtain information about the customer's financial status, tax status, investment objectives and other information. Under interpretations of these rules, FINRA believes that there is a high probability that speculative low-priced securities will not be suitable for at least some customers. The FINRA requirements make it more difficult for broker-dealers to recommend that their customers buy our common stock, which may limit your ability to buy and sell our stock and have an adverse effect on the market for our shares.

***Our controls and procedures may not timely institute proper controls, or compensating controls when necessary or our controls may fail, which may result in a material adverse effect on our business, financial condition and results of operations.***

On May 14, 2021, the Company announced that an internal investigation had discovered that a recently terminated employee in the Company's accounting department had been embezzling Company funds. The investigation indicated losses of approximately $500,000 occurring between 2016 and 2021. As a result of the findings of the investigation, the terminated employee returned the majority of the embezzled funds to the Company. The employee had taken advantage of a complex consolidation process between multiple enterprise resource planning ("ERP") systems, a lack of segregation of duties, weak internal controls, and a lack of managerial oversight. In the first quarter of 2021, the Company transitioned into a single ERP system which allows for establishment of increased segregation of duties and improvements of internal controls within the ERP system itself. Additionally, remediation of internal control weaknesses includes additional focus on managerial oversight and staffing changes within the accounting department.

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Our management is responsible for establishing and maintaining adequate internal control over financial reporting. As defined in Exchange Act Rule 13a-15(f) and 15d-15(f), internal control over financial reporting is a process designed by, or under the supervision of, the principal executive and principal financial officer and effected by the board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that: (i) pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company's assets that could have a material effect on the financial statements.

Concurrent with year-end reporting, under the supervision and with the participation of our management, including our chief executive officer and chief financial officer, we conducted an evaluation of the effectiveness of the overall design of our system of internal control over financial reporting based on the framework in Internal Control—Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission 2013 (COSO). Under standards established by the Public Company Accounting Oversight Board of the United States, a material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of our annual or interim financial statements will not be prevented or detected on a timely basis.

We have identified a material weakness in our internal control over financial reporting. The control deficiencies identified increase the risk that errors in our financial reporting may occur and remain undetected. The existence of a material weakness may also negatively affect our business in other ways. Investors and potential financing sources may view the presence of material weaknesses as increasing the risk of inaccurate financial reporting, which can reduce their willingness to invest in our securities or extend credit on favorable terms. As a result, our ability to raise capital, obtain debt financing, or maintain existing financing arrangements could be adversely affected. In addition, the perception of weak internal controls may negatively impact the market price of our common stock and investor confidence in our Company.

***An excess of a majority of our outstanding voting securities are beneficially owned by two individuals, and these two individuals can elect all directors who in turn elect all officers, without the votes of any other stockholders.***

Two stockholders beneficially own over 80% of our outstanding voting securities and, accordingly, have effective control of us and may have effective control of us for the near- and long-term future. Votes of other stockholders can have little effect when we are managed by our Board of Directors and operated through our officers, all of whom can be elected by two individuals.

***We do not expect to pay dividends in the near future.***

We do not expect to declare or pay any dividends on our common stock in the foreseeable future. The declaration and payment in the future of any cash or stock dividends on the common stock will be at the discretion of our Board of Directors and will depend upon a variety of factors, including our ability to service our outstanding indebtedness, if any, and to pay dividends on securities ranking senior to the common stock, our future earnings, if any, capital requirements, financial condition and such other factors as our Board of Directors may consider to be relevant from time to time. Our earnings, if any, are expected to be retained for use in expanding our business.

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| **Item 1B.** | [**Unresolved Staff Comments**](#TOC) |

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Not Applicable.

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| **Item 1C.** | [**Cybersecurity**](#TOC) |

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We recognize the critical importance of maintaining the safety and security of our systems and data and have a holistic process for overseeing and managing cybersecurity and related risks. This process is supported by both management and our Board of Directors .

As of the date of this Form 10-K, the Company is not aware of any cybersecurity incidents that have materially affected or are reasonably likely to materially affect the Company, including its business strategy, results of operations, or financial condition and that are required to be reported in this Form 10-K.

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| **Item 2.**  | [**Properties**](#TOC) |

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We occupied approximately 1,500 rentable square feet on the 2nd floor of an office building in Boca Raton, Florida under a lease that was scheduled to expire in October 2025. We leased approximately 13,000 rentable square feet on the 3rd floor of office space within the same building in Boca Raton, Florida under a lease agreement that expires February 2026. These leases were forfeited to the landlord on March 26, 2025.

We had possession of approximately 30,600 rentable square feet of office space, evenly split between the 5th and 6th floor of an office building in St. Petersburg, Florida under a lease that is scheduled to expire on April 30, 2027. On December 1, 2019, we entered into a sublease for the 6th floor space that is scheduled to expire on April 2027, and on December 1, 2016, we entered into a sublease for the 5th floor space which expired on June 30, 2022. On November 14, 2025, we received a notice of default from counsel regarding this lease for overdue rent payments and the sublease was surrendered to the landlord. On December 10, 2025, the landlord filed a compliant for damages in the Circuit Court for the Sixth Judicial Circuit in and for Pinellas and Pasco Counties, Florida, Civil Division. See Note 13 in the Notes to the Consolidated Financial Statements included in this report for a discussion of the notice of default and the lawsuit.

We do not currently own or lease any properties, but utilize a mailbox service in Weston, Florida to function as our mailing address.

We believe that our lack of formal office space is sufficient to meet our current needs and that suitable additional space will be available as and when needed.

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| **Item 3.**  | [**Legal Proceedings**](#TOC) |

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We are, from time to time, a party to legal proceedings that arise in the ordinary course of business.

On November 14, 2025, counsel to First Central Tower Limited Partnership ("Landlord") remitted a notice of Default, Demand to Cure and for Acceleration of Rent to us seeing $979,885 in unpaid rent. We did not respond to this notice.

On December 10, 2025, the Landlord filed a complain for damages in the Circuit Court for the Sixth Judicial Circuit in and for Pinellas and Pasco Counties, Florida, Civil Division, for past due rent. The landlord alleges that we defaulted on the lease by failing to pay rent on the date rent was due. The landlord is seeing to recover damages from us in the amount of $963,363, comprised of past due rent and late fees through December 2025, totaling $1,394,221, less our security deposit in the amount of $1,000,000, plus accelerated rent due for the remainder of the lease term reduced to the net present value in the amount of $360,713 plus costs associated with reletting the premises in the amount of $208,428. As of the date of filing this Form 10-K, we have not responded to this complain. It is possible that our failure to respond to the complain will result in a default judgment against us or alternatively that any response to the complaint or future actions on our part to defend against this litigation will be unsuccessful and result in an adverse judgment against us. Such a default or adverse judgment could result in the imposition of material damages and other costs and could have a material adverse effect on us. See Note13 in the Notes to Consolidated Financial Statements included in this report for additional information.

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|:---|:---|
| **Item 4.**  | [**Mine Safety Disclosures.**](#TOC) |

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Not Applicable.

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[**PART II**](#TOC)

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| **Item 5.**  | [**Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.**](#TOC) |

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**Market Information**

Our common stock is traded in the OTCPK, under the symbol "TLCC". We have been eligible to participate in the OTCPK since June 25, 2014 and from that time until the date of this Report our common stock has had only minimal trading. Over-the-counter market quotations of our common stock reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.

**Holders of Common Stock**

As of March 2, 2026, there were approximately 375 stockholders of record of our common stock. This number does not include shares held by brokerage clearing houses, depositories or others in unregistered form.

**Dividends**

We have not declared or paid any cash dividends on our common stock during our two most recent fiscal years. Any decisions regarding dividends will be made by our Board of Directors. We currently intend to retain and use any future earnings for the development and expansion of our business and do not anticipate paying any cash dividends in the foreseeable future. Our Board of Directors has complete discretion on whether to pay dividends. Even if our Board of Directors decides to pay dividends, the form, frequency and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual restrictions and other factors that the Board of Directors may deem relevant**.**

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| **Item 6.**  | **[\[Reserved\]](#TOC)**  |

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| **Item 7.**  | **[Management's Discussion and Analysis of Financial Condition and Results of Operations.](#TOC)**  |

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*The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and related notes appearing elsewhere in this Annual Report on Form 10-K. Some of the information contained in this discussion and analysis or set forth elsewhere in this Annual Report on Form 10-K, including information with respect to our plans and strategy for our business, includes forward looking statements that involve risks and uncertainties. As a result of many factors, including those factors set forth in the* ''*Risk Factors*'' *section of this Annual Report on Form 10-K, our actual results could differ materially from the results described in or implied by these forward-looking statements.* 

**Overview**

We are an integrated formulator, marketer, distributor and retailer of branded nutritional supplements and other natural products sold to and through domestic health and natural food stores, mass market retailers, specialty retailers, on-line retailers and websites. Internationally, we market and distribute branded nutritional supplements and other natural products to and through health and natural product distributors and retailers.

Our products include vitamins, minerals, specialty supplements and sports nutrition products primarily under the Twinlab®, Reserveage and ResVitale® brands. We also formulate, market and sell diet and energy products under the Metabolife® brand and a full line of herbal teas under the Alvita® brand. To accommodate consumer preferences, our products come in various formulations and delivery forms, including capsules, tablets, softgels, chewables, liquids, sprays, powders and whole herbs. These products are sold primarily through health and natural food stores and on-line retailers, supermarkets, and mass-market retailers.

We distribute branded product lines with approximately 77 stock keeping units, or SKUs. We believe that as a result of our history of top quality products and past recognition of our brands in health and natural food stores as quality products, there remains an operational path forward, though potentially as a smaller, leaner company. In most periods since our formation, we have generated losses from operations.

We also performed services between private label distributors and contract manufacturers under the NutraScience Labs ("NSL") brand name. NSL facilitated the production of new supplements to market and reformulates existing products to include scientifically-backed ingredients. We provided our customers with numerous production services, including manufacturing, testing, label and packaging design, order fulfillment, and regulatory compliance.

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NSL facilitated the contract manufacture of a variety of high-quality vitamin and supplement products, including but not limited to, immune support supplements, cognitive support products, prebiotics and probiotics, supplements for weight management, and sports nutrition supplements. Our role in the production of these products was to help our customers manufacture or reformulate dietary supplements for sale and distribution. We did this by working with contract manufacturers to build scientifically backed formulas for resale to our end customers. We also simplified the production process by providing quality control checks, storing inventory on site, labeling and designing finished products, and drop shipping finished products ready for sale to our end customers. We did not market these private label products, but rather sold the products to the customer, who was then responsible for the marketing, distribution, and sale to retailers or to their end customers.

In the third quarter of 2023, due to history of operating losses associated with private label distributions business under NSL brand name, the Company decided to cease operations associated with NSL. As such, NutraScience's fixed assets were determined to have minimal economic value to the Company and were disposed of through abandonment concurrently with the ceased operation.

**Going Concern Uncertainty**

The accompanying consolidated financial statements have been prepared on a going concern basis, which assumes continuity of operations and realization of assets and liabilities in the ordinary course of business. In most periods since our formation, we have generated losses from operations. At December 31, 2024, we had an accumulated deficit of $379.6 million. Historical losses are primarily attributable to lower than planned sales resulting from low fill rates on demand due to limitations of our working capital, delayed product introductions and postponed marketing activities, merger-related and other restructuring costs, interest and refinancing charges associated with our debt refinancing, and impairment of goodwill and intangible assets. Losses have been funded primarily through issuance of common stock and third-party or related party debt.

The Company is currently a defendant in litigation described in Note 13. The plaintiff seeks damages of approximately $963,363, which significantly exceeds the Company's available liquidity. The potential exposure from the litigation, if resolved unfavorably, could materially exceed the Company's available financial resources. These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued. Management is evaluating various strategic alternatives, including settlement negotiations, additional capital raising, refinancing arrangements, and other restructuring options. There can be no assurance that these efforts will be successful. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Because of our history of operating losses and significant interest expense on our debt, we have a working capital deficiency of $149.9 million at December 31, 2024. We also have $93.9 million of debt, presented in current liabilities. These continuing conditions, among others, raise substantial doubt about our ability to continue as a going concern.

Management is addressing operating issues through the following actions: focusing on maintaining the most profitable core business and brands through emphasis on major customers and key products whereby the company can sell the most product with the least internal costs; winding down or selling less profitable brand; reducing operating costs; restructuring debt, potentially through bankruptcy filings; and continuing to negotiate lower prices from major suppliers in an effort to maintain the core business in the face of increasing financial pressures. We believe that we will need additional capital to execute our business plan. There can be no assurance that sources of funding will be available when needed on acceptable terms or at all.

The consolidated financial statements do not include any adjustments that might result from the outcome of these uncertainties.

**Critical Accounting Policies and Estimates**

Our management's discussion and analysis of our consolidated financial condition and results of operations are based on our consolidated financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles. The preparation of these consolidated financial statements requires us to make judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities in our consolidated financial statements. We base our estimates on historical experience, known trends and events, and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions or conditions. On an ongoing basis, we evaluate our judgments and estimates in light of changes in circumstances, facts and experience. The effects of material revisions in estimates, if any, will be reflected in the financial statements prospectively from the date of change in estimates.

While our significant accounting policies are described in more detail in the notes to our consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K, we believe the following accounting policies used in the preparation of our consolidated financial statements require the most significant judgments and estimates.

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*Revenue Recognition* 

Revenue from product and service sales and the related cost of sales are recognized when the performance obligations are satisfied. The performance obligations are typically satisfied upon shipment of physical goods or as the services are performed over time. In addition to the satisfaction of the performance obligations, the following conditions are required for revenue recognition: an arrangement exists, there is a fixed price, and collectability is reasonably assured. Discounts, returns and allowances related to sales, including an estimated reserve for the returns and allowances, are recorded as reduction of revenue.

*Accounts Receivable and Allowances*

We grant credit to customers and generally do not require collateral or other security. We perform credit evaluations of our customers and provide for expected claims, related to promotional items; customer discounts; shipping shortages and damages; and credit losses based upon historical bad debt and claims experience.

*Inventories*

Inventories are stated at the lower of cost or net realizable value and are reduced by an estimated reserve for obsolete inventory.

*Value of Warrants Issued with Debt*

We estimate the grant date value of certain warrants issued with debt using a valuation method, such as the Black-Scholes option pricing model, or, if the terms are more complex, using an outside professional valuation firm, which uses the Monte Carlo option lattice model. We record the amounts as interest expense or debt discount, depending on the terms of the agreement. These estimates involve multiple inputs and assumptions, including the market price of the Company's common stock, stock price volatility and other assumptions to project earnings before interest, taxes, depreciation and amortization ("EBITDA") and other reset events. These inputs and assumptions are subject to management's judgment and can vary materially from period to period.

*Share-Based Compensation*

We record share-based compensation, including grants of restricted stock units, based on their grant date fair values and record compensation expense over the vesting period of the restricted stock awards.

*Income Taxes*

We account for income taxes using an asset and liability approach. Deferred income taxes are determined by applying currently enacted tax laws and rates to the cumulative temporary differences between the carrying values of assets and liabilities for financial statement and income tax purposes. Valuation allowances against deferred income tax assets are recorded when we are unable to conclude that it is more likely than not that such deferred income tax assets will be realized.

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**Results of Operations**

The following table summarizes our results of operations for the years ended December 31, 2024 and December 31, 2023:

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **For the Years Ended December 31,**  | **For the Years Ended December 31,**  | **Increase**  | &nbsp;&nbsp;&nbsp;&nbsp;**%**  |
|  | **2024** | **2023** | **(Decrease)**  | &nbsp;&nbsp;&nbsp;&nbsp;**Change**  |
| Net sales  | $11665 | $13617 | $(1952) | (14)% |
| Cost of sales  | 7740 | 8605 | (865) | (10)% |
| &nbsp;&nbsp;&nbsp; Gross profit  | 3925 | 5012 | (1087) | (22)% |
| Operating costs and expenses:  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Selling expenses  | 459 | 1161 | (702) | (60)% |
| &nbsp;&nbsp;&nbsp; General and administrative expenses  | 5242 | 5240 | 2 | 0% |
| Loss from operations  | (1776) | (1389) | (387) | 28% |
| Other expense:  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Interest expense, net  | (7996) | (8271 ) | 275 | 3% |
| &nbsp;&nbsp;&nbsp; Other income  | 8 | 41 | (33) | 80% |
| &nbsp;&nbsp;&nbsp; Total other expense  | (7988) | (8230 ) | 242 | 3% |
| Loss before income taxes  | (9764) | (9619 ) | (145) | 2% |
| Provision for income taxes  | (43) | (43 ) | - | 0% |
| Net loss from continuing operations | (9807) | (9662) | (145) | 2% |
| Net (income) loss from discontinued operations, net of income taxes | 308 | (4052) | 4360 | (108)% |
| &nbsp;&nbsp;&nbsp; Total net loss  | $(9499) | $(13714 ) | 4215 | 31% |
| Weighted average number of common shares outstanding - basic  | 259092833 | 259092833 |  |  |
| Net loss per common share - basic  | $(0.04) | $(0.05 ) |  |  |
| Weighted average number of common shares outstanding - diluted  | 259092833 | 259092833 |  |  |
| Net loss per common share - diluted (See Note 2)  | $(0.04) | $(0.05 ) |  |  |

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*Net Sales*

The decrease in our net sales by 14% for the year ended December 31, 2024 compared to 2023, is primarily due to production backlogs at manufacturers, resulting in extended lead-time for production and fulfillment of sales, as well as a reduction in demand from some of our major customers and retailers for some of our branded products.

*Gross Profit*

Our overall gross profit decrease of 22% for the year ended December 31, 2024 compared to 2023, is primarily due to increased product input costs at the supplier and manufacturing levels.

*Selling Expenses*

Our selling expenses decreased by 60% for the year ended December 31, 2024 compared to 2023, primarily due to the reduction of certain advertising costs, such as print marketing, public relations, and brand ambassadors, as we did not have a major product launch in 2024.

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*General and Administrative Expenses*

Our general and administrative expenses increased by 0% for the year ended December 31, 2024 compared to 2023, primarily due to proactively assessing all costs and ensuring that expenses are right-sized for a leaner company and not taking on new expenses.

*Impairment of Goodwill and Intangible Assets*

Due to the immaterial net book value of our remaining intangible assets, annual impairment testing was not performed nor was an impairment loss recognized in 2024 or 2023.

*Interest Expense, Net*

Our interest expense decreased by $0.3 million or 3% for the year ended December 31, 2024 compared to 2023. The increase is primarily due to rising interest rates on existing debt.

*Other Income*

The decrease in other income of 80% is related the sale of unused web domains in 2023 which did not also occur in 2024. Other income for the year ended December 31, 2024 related insurance premium refunds resulting from an annual fees audit.

**Liquidity and Capital Resources** 

At December 31, 2024, we had an accumulated deficit of $379.6 million primarily because of our history of operating losses. We had a working capital deficiency of $149.9 million at December 31, 2024. Losses have been funded primarily through the issuance of common stock and warrants, borrowings from our stockholders and third-party debt. As of December 31, 2024, we had cash of $69 thousand. On an ongoing basis, we also seek to improve operating cash through trade receivables and payables management as well as inventory stocking levels. Net cash used in operating activities for the year ended December 31, 2024was $0.3 million. During the year ended December 31, 2024, we incurred net repayment on borrowings from our revolving credit facility of $0.7 million.

Our total liabilities increased by $6.5 million to $154.5 million at December 31, 2024 from $148.0 million at December 31, 2023. This increase in our total liabilities was primarily due to the increase of $6.6 million in accrued interest and $0.6 million in accounts payable, partially offset by an decrease of $4 million in accrued expenses, lease liabilities, and current liabilities related to discontinued operations.

As a result of ongoing liquidity constraints, recurring operating losses, and the Company's limited access to capital, management has taken actions to wind down certain operations and reduce the Company's cost structure. These actions have included the cessation of operations of NutraScience Labs, the abandonment or forfeiture of leased facilities, workforce reductions, and the elimination of operating activities that were no longer economically sustainable.

*Cash Flows from Operating, Investing and Financing Activities*

Net cash used in operating activities was $0.3 million for the year ended December 31, 2024 as a result of our net loss of $9.5 million, other non-cash expenses totaling $0.0 million net, and an increase in net operating assets and liabilities of $0.0 million. By comparison, for the year ended December 31, 2023, net cash used in operating activities was $2.9 million as a result of our net loss of $13.7 million, forgiveness of PPP loan of $0.0 million, a non-cash impairment of goodwill and intangible assets of $0.0 million, other non-cash expenses totaling $0.1 million net, and an increase in net operating assets and liabilities of $2.8 million.

Net cash used in financing activities was $0.3 million for the year ended December 31, 2024, consisting of net payments of $0.7 million under our revolving credit facility. Net cash provided by financing activities was $3.7 million for the year ended December 31, 2023, consisting of net borrowings on our revolving credit facility of $1.6 million.

*Wind-Down and Cost Reduction Actions*

As a result of ongoing liquidity constraints, recurring operating losses, and the Company's limited access to capital, management has taken actions to wind down certain operations and reduce the Company's cost structure. These actions have included the cessation of operations of NutraScience Labs, the abandonment or forfeiture of leased facilities, workforce reductions, and the elimination of operating activities that were no longer economically sustainable.

The Company has surrendered multiple office locations and no longer maintains dedicated corporate office space. These actions resulted in the impairment of certain assets and the recognition of remaining lease obligations, which are reflected in the consolidated financial statements. While these measures were undertaken to reduce ongoing cash outflows, the Company continues to have significant obligations, including lease liabilities, accrued interest, and debt obligations that are classified as current due to existing defaults.

The Company's liquidity position remains constrained, and its ability to satisfy its obligations as they become due is subject to significant uncertainty. Additional information regarding these matters is included in Note 1 and other notes to the consolidated financial statements.

*Ongoing Funding Requirements* 

As set forth above, we obtained additional debt financing in the year ended December 31, 2024 to support operations. We will need additional funding to continue supporting our operations during the next twelve months. However, we cannot predict whether future borrowings will be available to us and future developments associated with the current economic environment will materially affect our long-term liquidity position.

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In response to COVID-19 and to protect our liquidity and cash position, we have taken a number of steps. In August of 2020, we obtained deferment letters from each of Great Harbor (defined below), Little Harbor (defined below) and Golisano Holdings (defined below) pursuant to which each lender agreed to defer all payments due under outstanding notes held by each lender through October 22, 2021 and agreed to refrain from declaring a default and/or exercising any remedies under the outstanding notes. Amendments to extend the maturity date and related payment deferrals of the aforementioned notes have not been executed and these notes are currently in default. As discussed in Note 6 - Debt, Akretive LLC is now the lender of the notes previously held by Great Harbor, Little Harbor and Golisano Holdings. We continue to anticipate extending the maturity dates and related payment deferrals with the lending parties, but we cannot guarantee that such extensions and payment deferrals will be successfully obtained on a timely basis or at all.

On May 7, 2020, TCC, the operating subsidiary of the Company, received the proceeds of a loan from Fifth Third Bank, National Association in the amount of $1.7 million obtained under the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"), which was enacted March 27, 2020 (the "PPP Loan"). The PPP Loan, evidenced by a promissory note dated May 5, 2020 (the "Note"), had a two-year term and bore interest at a rate of 1.0% per annum, with the monthly principal and interest payments due beginning December 1, 2020. TCC used the proceeds of the PPP Loan for payroll, office rent, and utilities which allowed the Company to seek forgiveness of this loan. The Company submitted its application for 100% forgiveness for this loan in November 2021. In January 2022, the full amount of the PPP Loan was forgiven by the Small Business Administration ("SBA"). As a result, the Company recorded a gain on the forgiveness of the loan in the amount of $1.7 million.

On January 25, 2021, TCC applied for another PPP loan with Fifth Third Bank in the amount of $1.3 million (the "Second PPP Loan"). The Second PPP Loan, evidenced by a promissory note dated February 5, 2021 (the "Second PPP Note"), had a two-year term and bore interest at a rate of 1.0% per annum, with expected monthly principal and interest payments that were due to begin September 1, 2021. TCC used the proceeds of the Second PPP Loan for payroll, which allowed the Company to seek forgiveness for this loan. The Company submitted its application for 100% forgiveness for this loan in November 2021. In December 2021, the full amount of the Second PPP Loan was forgiven by the SBA. As a result, the Company recorded a gain on the forgiveness of the loan in the amount of $1.3 million.

Until such time, if ever, as we can generate substantial product revenues, we intend to finance our cash needs through a combination of equity offerings, debt financing, collaborations, strategic alliances and licensing arrangements. There can be no assurance that any of those sources of funding will be available when needed on acceptable terms or at all. To the extent that we raise additional capital through the sale of equity or convertible debt securities, the ownership interests of existing stockholders will be diluted, and the terms of these securities may include liquidation or other preferences that adversely affect the rights of existing stockholders. Debt financing, if available, may involve agreements that include covenants limiting or restricting our ability to take specific actions, such as incurring additional debt, making capital expenditures or declaring dividends. If we raise funds through collaborations, strategic alliances or licensing arrangements with third parties, we may have to relinquish valuable rights to our technologies, future revenue streams, research programs or product candidates or to grant licenses on terms that may not be favorable to us. If we are unable to raise additional funds through equity or debt financing or relationships with third parties when needed or on acceptable terms, we may be required to delay, limit, reduce or terminate our product development or future commercialization efforts; or grant rights to develop and market product candidates that we would otherwise prefer to develop and market ourselves.

**Accounting Pronouncements**

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which enhances reporting requirements under Topic 280. The enhanced disclosure requirements include: title and position of the Chief Operating Decision Maker (CODM), significant segment expenses provided to the CODM, extending certain annual disclosures to interim periods, clarifying single reportable segment entities must apply ASC 280 in its entirety, and permitting more than one measure of segment profit or loss to be reported under certain circumstances. This change is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. This change will apply retrospectively to all periods presented. Management is currently assessing the impact of the adoption of this ASU on the financial statements of the Company.

Although there are several new accounting pronouncements issued or proposed by the FASB, which we have adopted or will adopt, as applicable, we do not believe any of these accounting pronouncements have had or will have a material impact on our consolidated financial position or results of operations.

**Material Contractual Obligations**

As of December 31, 2024, we had total debt of $93.9 million, of which $91.7 million is considered to be related-party debt. For discussion of our debt financing, see Notes 6 and 7 in the Notes to Consolidated Financial Statements included in this report.

Effective April 7, 2015, we entered into an operating lease agreement for approximately 31,000 square feet of office space in St. Petersburg, Florida (the "St. Petersburg Lease"). The agreement expires in April 2027 and has a monthly base rent of $59 thousand for year 1 to $76 thousand for year 12.

On November 30, 2016, we entered into a sublease agreement to sublease half of the 31,000 square feet of office space in St. Petersburg, Florida. The sublease term commenced on February 1, 2017 and expired on June 30, 2022.

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On December 15, 2016, we entered into an operating lease agreement for approximately 13,000 square feet of office space in Boca Raton, Florida. The agreement expires in February 2026 and has a monthly base rent of $17 thousand in year 1 to $21 thousand in year 8. The commencement date was August 2017.

On June 2, 2017, we entered into an operating lease agreement for approximately 18,700 square feet of office space in Farmingdale, New York. The lease agreement was surrendered to the landlord as part of the abandonment of operations of NutraScience Labs on May 12, 2023.

On July 12, 2019, we entered into a sublease agreement to sublease the other half of the 31,000 square feet of office space in St. Petersburg, Florida. The sublease term commenced on December 1, 2019 and is scheduled to expire on April 30, 2027.

On April 22, 2021, we entered into an operating lease agreement for approximately 13,500 square feet of office space in Hauppauge, New York. The agreement was surrendered to the landlord as part of the abandonment of operations of NutraScience Labs on September 30, 2023.

On August 26, 2021, we entered into an operating lease agreement for an additional 1,500 square feet approximately of office space in Boca Raton, Florida. The agreement was scheduled to expire in October 2024 and has a monthly base rent of $5 thousand. The commencement date was September 2021, the date on which we moved our main executive offices from 4800 T-Rex Avenue, Suite 305, Boca Raton, Florida 33431 to 4800 T-Rex Avenue, Suite 225, Boca Raton, Florida 33431.

On September 12, 2021, we entered into sublease agreement to sublease the approximately 13,000 square feet of office space in Boca Raton, Florida. The sublease term commenced on October 1, 2021 and was scheduled to expire on February 28, 2026.

On November 14, 2025, we surrendered the lease and sublease for 31,000 square feet of office space in St. Petersburg, Florida, to the landlord. The Company is currently in default for past due rent.

On March 26, 2025, we surrendered the leases and subleases at 4800 T-Rex Avenue in Boca Raton, Florida to the landlord.

*Manufacturing and Distribution Licensing Agreement*

On April 24, 2019, the Company entered into a manufacturing and distribution licensing agreement with Amherst Industries, Inc. ("Amherst") to manufacture and distribute the Alvita Tea brand of products worldwide. On October 20, 2021, the Company ended the licensing agreement with Amherst and began production and distribution of Alvita in 2022.

**Off-Balance Sheet Arrangements**

None.

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| | |
|:---|:---|
| **Item 7A.**  | [**Quantitative and Qualitative Disclosures About Market Risk.**](#TOC) |

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This item is not applicable as we are currently considered a smaller reporting company.

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| | |
|:---|:---|
| **Item 8.**  | [**Financial Statements and Supplementary Data.**](#TOC) |

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The financial statements required to be filed pursuant to Item 8 are appended to this report. An index of those financial statements is found in Item 15.

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| | |
|:---|:---|
| **Item 9.**  | [**Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.**](#TOC) |

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None.

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| | |
|:---|:---|
| **Item 9A.**  | [**Controls and Procedures.**](#TOC) |

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**Internal Control Over Financial Reporting**

***Background***

We previously reported a material weakness in internal control over financial reporting for the year ended December 31, 2023 related to the following:

• Lack of appropriate staffing in our accounting and information technology departments to address the Company's ability to continue to close the books both timely and accurately and to meet internal control documents. 

We are still addressing the material weakness related to staffing and the ability to close the books timely and accurately.

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***Evaluation of Disclosure Controls and Procedures***

Our management, with the participation of our chief executive officer and chief financial officer, evaluated the effectiveness of our disclosure controls and procedures as of December 31, 2024 pursuant to Rule 13a-15(e) and 15d-15(e) under the Exchange Act. The term "disclosure controls and procedures," as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company's management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. On the basis of this review, our management, including our interim chief executive officer and chief financial officer, has concluded that as of the end of the period covered by this report, our disclosure controls and procedures were not effective to give reasonable assurance that the information required to be disclosed in our reports filed with the SEC under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC, and to ensure that the information required to be disclosed in the reports filed or submitted under the Exchange Act is accumulated and communicated to our management, including our chief executive officer and chief financial officer, in a manner that allows timely decisions regarding required disclosure.

***Management***'***s Annual Report on Internal Control over Financial Reporting***

Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined by Rule 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934.

Management conducted an evaluation of the effectiveness of the Company's internal control over financial reporting as of December 31, 2024 based on the criteria set forth in *Internal Control - Integrated Framework (2013)* issued by the Committee of Sponsoring Organization of the Treadway Commission (COSO).

Based on this evaluation, management concluded that the Company's internal control over financial reporting was not effective as of December 31, 2024 due to the existence of the material weakness described below.

Although the Company is working to remediate this material weaknesses, it currently has not been resolved. Any failure to maintain or implement required new or improved controls, or any difficulties that may be encountered in their implementation, could result in additional material weaknesses, cause us to fail to meet our periodic or annual reporting obligations or result in material misstatements in our financial statements. Any such failure could also adversely affect the results of periodic management evaluations regarding the effectiveness of our internal control over financial reporting required under Section 404 of the Sarbanes Oxley Act of 2002 and the rules promulgated thereunder. The existence of material weaknesses could result in errors in our financial statements that could result in a restatement of those financial statements.

***Inherent Limitation on the Effectiveness of Internal Control***

The effectiveness of any system of internal control over financial reporting, including ours, is subject to inherent limitations, including the exercise of judgment in designing, implementing, operating, and evaluating the controls and procedures, and the inability to eliminate misconduct completely. Accordingly, any system of internal control over financial reporting, including ours, no matter how well designed and operated, can only provide reasonable, not absolute assurances. In addition, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. We intend to continue to monitor and upgrade our internal controls as necessary or appropriate for our business, but we cannot assure you that such improvements will be sufficient to provide us with effective internal control over financial reporting.

***Material Weakness and Remediation***

Management identified a material weakness related to insufficient accounting and finance personnel to support the timely preparation and review of financial information and the maintenance of effective internal controls.

Management has taken steps to address this material weakness; however, the Company's ability to fully remediate the material weakness is limited by its current liquidity constraints and lack of financing. As a result, the material weakness had not been remediated as of December 31, 2024.

***Changes in Internal Control over Financial Reporting***

Except as discussed above, there were no changes in our internal control over financial reporting that occurred during 2024 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

We have determined that our internal controls over financial reporting during the year ended December 31, 2024 continues to be ineffective.

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| | |
|:---|:---|
| **Item 9B.**  | [**Other Information.**](#TOC) |

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On June 27, 2025, Mr. David L. Van Andel notified the Board of Directors of the Company of his decision to resign as a member of the Board, effective June 27, 2025. The resignation was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices.

During the quarter ended December 31, 2024, none of our directors or executive officers adopted or terminated a Rule 10b5-1 trading plan or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation (S-K).

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| | |
|:---|:---|
| **Item 9C.**  | [**Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.**](#TOC) |

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Not Applicable.

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[**PART III**](#TOC)

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| | |
|:---|:---|
| **Item 10.**  | [**Directors, Executive Officers and Corporate Governance.**](#TOC) |

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 ***(a)***  ***Identification of Directors***

The current members of the Board of Directors are as follows:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Name**  | **Age**  | **Age**  | **Served as a**<br>**Director Since** | **Positions with Twinlab Consolidated Holdings, Inc.**  |
| Anthony Zolezzi  |  | 71 | 2018 | Chairman of the Board/Director  |

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The principal occupations and business experience, for at least the past five years, of each Director are as follows:

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| | |
|:---|:---|
| ANTHONY ZOLEZZI  | Age 71  |

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Mr. Zolezzi was appointed to the Board on May 8, 2018. He served as the Company's Chief Executive Officer and President from July 2018 to August 2019 and was reappointed Chief Executive Officer on December 12, 2025. Prior to joining the Company as Chief Executive Officer and President, Mr. Zolezzi spent 5 years serving as an Operating Partner at Pegasus Capital Advisors, a private alternative asset management firm, where he was also Co-Chair of its Wellness Committee. In the past, Mr. Zolezzi has been the Chief Executive Officer of several successful, health and wellness companies including Wild Oats Marketplace, Code Blue Innovations, Natural Pet Nutrition, The New Organics Company and Pacific Basin Foods. Mr. Zolezzi has also served as an advisor for New Chapter Whole Foods Supplements, Wild Oats Private Label Supplements, Waste Management, Nestle and Whole Foods on several health, wellness and sustainability programs and projects. Mr. Zolezzi has his Bachelor of Science degree in Biology from Loyola Marymount University, Los Angeles, California. The Board believes this health and wellness experience qualifies him to serve as a director.

***(b)* *Identification of Executive Officers***

The following table identifies our current executive officer(s):

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| | | |
|:---|:---|:---|
| **Name**  | **Age**  | **Position**  |
| Anthony Zolezzi | 71 | Chief Executive Officer |
| Kyle Casey  | 42 | Chief Financial Officer  |

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| | |
|:---|:---|
| KYLE CASEY | Age 42 |

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Mr. Casey joined the Company in April 2019 and served as the Company's Controller prior to his appointment as interim Chief Financial Officer of the Company, effective October 8, 2019. He was then appointed Chief Financial Officer as of January 13, 2020. Mr. Casey was appointed Interim Chief Executive Officer and Chief Financial Officer as of January 26, 2023. On December 12, 2025, he stepped down as Chief Executive Officer when Mr. Zolezzi was appointed Chief Executive Officer. Before joining the Company, Mr. Casey was with Gulfstream Park Racetrack and Casino from December 2015 through November 2018, most recently serving as the Vice President of Finance. Prior to his employment with Gulfstream Park Racetrack and Casino, Mr. Casey served as Chief Auditing Officer for the Florida Department of Business and Professional Regulation from March 2014 through December 2015. Mr. Casey holds a Bachelor of Science in Accounting and Finance, as well as a Master of Science in Taxation, from Florida State University. Mr. Casey is a licensed Certified Public Accountant.

***(c)* *Identification of Certain Significant Employees***

Not applicable.

***(d)* *Family Relationships***

There are no family relationships among our executive officers and directors.

***(e)* *Business Experience***

The business experience of each of our current directors and executive officers is set forth in Part III, Item 10(a), "Identification of Directors" and Part III, Item 10(b), "Identification of Executive Officers," respectively.

The directorships currently held, and held during the past five years, by each of our directors in any company with a class of securities registered pursuant to Section 12 of the Securities Exchange Act of 1934, as amended, or subject to Section 15 of such Act or any company registered as an investment company under the Investment Company Act of 1940, as amended, are set forth in Part III, Item 10(a), "Identification of Directors."

***(f)* *Involvement in Certain Legal Proceedings***

To the best of our knowledge, none of our directors or executive officers that served during the year ended December 31, 2024 ("Fiscal 2024") or currently has been involved during the past ten years in any legal proceedings required to be disclosed pursuant to Item 401(f) of Regulation S-K.

***(g)* *Promoters and Control Persons***

Not applicable.

***(h) and (i) Audit Committee and Audit Committee Financial Expert***

The member of the standing Audit Committee is Anthony Zolezzi, currently the only member of the Board of Directors. The responsibilities and duties of the Audit Committee consist of, but are not limited to:

* appointing, compensating, retaining and overseeing our independent registered public accounting firm;

* at least annually obtaining and reviewing our independent registered public accounting firms' report on independence and quality control;

* reviewing with our independent registered public accounting firm the scope and results of their audit, any audit problems or difficulties and management's response to any problems or difficulties;

* pre-approving all audit and permissible non-audit services to be performed by our independent registered public accounting firm;

* overseeing the financial reporting process and discussing with management and our independent registered public accounting firm the interim and annual financial statements that we file with the SEC;

* reviewing the facts and circumstances of each related party transaction under the Company's Related Party Transaction Policy and Procedures and either approve or disapprove of each related party transaction;

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* reviewing and monitoring compliance with laws, rules, regulations and the Company's Code of Ethics and Business Conduct; and

* establishing procedures for the receipt, retention and treatment of complaints regarding accounting, internal controls or auditing matters, and for the confidential and anonymous submission by Company employees of concerns regarding questionable accounting or auditing matters.

Our Board has determined that Anthony Zolezzi qualifies as an "Audit Committee financial expert" within the meaning of applicable regulations of the Securities and Exchange Commission, promulgated pursuant to the Sarbanes-Oxley Act of 2002. Our board of directors has adopted a written charter for the Audit Committee which the Audit Committee reviews and reassesses for adequacy on an annual basis. A copy of the Audit Committee's charter is located on our website at www.tchhome.com.

***(j)* *Procedures for Stockholder Nominations to the Board of Directors***

No material changes to the procedures for nominating directors by our stockholders were made during Fiscal 2024.

*(k) Code of Conduct and Ethics*

The Company has adopted a Code of Ethics and Business Conduct that applies to all of its directors, officers (including its Chief Executive Officer, Chief Financial Officer and any person performing similar functions) and employees. The Company has made this Code of Ethics and Business Conduct available on its website at www.tchhome.com/code-of- ethics. The Company intends to satisfy the disclosure requirements under applicable SEC rules relating to amendments to the Code of Ethics or waivers from any provisions thereof applicable to the Company's principal executive officer, principal financial officer and principal accounting officer by posting such information on the Company's website pursuant to SEC rules.

***(l)* *Insider Trading Policy***

As of the date of this report, the Company has not adopted an Insider Trading Policy due to the limited number of directors and officers and limited trading in the Company's stock. The absence of such a policy is not reflective of disregard for the principles of fair and ethical trading practices.

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| | |
|:---|:---|
| **Item 11.**  | [**Executive Compensation**](#TOC) |

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This section discusses the material components of the executive compensation program for our executive officers who are named in the "2024 Summary Compensation Table" below. In 2024, our "named executive officer" consisted of the following:

Kyle Casey, Interim Chief Executive Officer (former) and Chief Financial Officer

**2024 Summary Compensation Table**

The following table sets forth information concerning the compensation of our named executive officers for the years ended December 31, 2024 and December 31, 2023.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Name and principal position**  | **Year**  | **Salary ($)**  | **Bonus ($)**  | **All Other Compensation**  | **Total ($)**  |
| Kyle Casey  | 2024 | 334590 |  |  | 334590  |
| &nbsp;&nbsp;&nbsp; *Chief Financial Officer and former Chief Executive Officer*  | 2023 | 324734 |  |  | 324734 |

---

<sup><sup><sup></sup></sup></sup>Mr. Casey was appointed Chief Financial Officer of the Company effective January 13, 2020. Mr. Casey was appointed as Interim Chief Executive Officer and Chief Financial Officer of the Company effective August 1, 2022 and his compensation was modified to receive an annual base salary of $345,000. On December 2, 2022 Mr. Casey remained as Chief Financial Officer of the Company and his annual base salary was adjusted back to $262,000. On January 26, 2023, Mr. Casey was re-appointed as Interim Chief Executive Officer, in addition to his regular position as Chief Financial Officer, and his salary was modified to a base salary of $345,000. On December 12, 2025, Mr. Casey stepped down as Chief Executive Officer but remained as Chief Financial Officer of the Company, however no adjustments were made to his annual base salary. Mr. Casey has provided notice to the Company of his resignation from his position as Chief Financial Officer of the Company effective March 3, 2026.

------

**JuDisclosure to Summary Compensation Table**

**Employment Agreement with Kyle Casey**

*Employment Term and Position*

On January 13, 2020, the Company and Mr. Casey entered into an at-will employment agreement to serves as the Chief Financial Officer of the Company. There is no set employment term or notice period required prior to termination of employment.

*Base Salary, Annual Bonus, Benefits*

Pursuant to the employment agreement, Mr. Casey's base annual salary went up from $324,734 in 2023 to $0 in 2024. Mr. Casey was appointed as Interim Chief Executive Officer, in addition to his regular position as Chief Financial Officer, of the Company effective August 1, 2022 and his compensation was modified to receive an annual base salary of $345,000. From December 2, 2022 until January 26, 2023, Mr. Casey did not serve as the Interim Chief Executive Officer and his salary was adjusted back to $262,000. As of January 26, 2023, Mr. Casey was again serving as Interim Chief Executive Officer of the Company, in addition to his regular role as Chief Financial Officer, with an annual base salary of $345,000. Mr. Casey was eligible to participate in the Company's standard employee benefits program. There was no discretionary bonus paid in either 2023 or 2024.

*Restrictive Covenants*

Pursuant to the employment agreement, Mr. Casey is subject to (i) non-disclosure of confidential information restrictions while employed and for a period of two (2) years following the termination of employment, (ii) non-solicitation restrictions while employed and for a period of two (2) years following the termination of employment, and (iii) non-competition restrictions while employed and for a period of six (6) months following the termination of employment.

***Equity-Based Compensation Awards***

The only equity compensation plan currently in effect is the Twinlab Consolidation Corporation 2013 Stock Incentive Plan (the "TCC Plan"), which was assumed by the Company on September 16, 2014. The TCC Plan originally established a pool of 20,000,000 shares of common stock for issuance as incentive awards to employees for the purposes of attracting and retaining qualified employees who will aid in our success. During 2018 and 2017, we granted Restricted Stock Units ("RSUs"), to certain employees pursuant to the TCC Plan. Each RSU relates to one share of the Company's common stock. The RSU awards vested 25% each annually on various dates through 2019. We estimated the grant date fair market value per share of the RSUs and amortized the total estimated grant date value over the vesting periods. As of December 31, 2024, a total of 7,194,412 shares remain available for use in the TCC Plan.

------

***Other Elements of Compensation***

*Retirement Plans*

Until June 2016, the Company maintained a defined contribution retirement plan (the "Plan") which qualified under Section 401(k) of the Internal Revenue Code of 1986, as amended. All employees over the age of 18 were eligible for participation in the Plan, on the 1st day of the 1st month following 30 days of employment with the Company. The Plan was a safe harbor plan, requiring the Company to match 100% of the first 1% of eligible salary contributed per pay period by participating employees, and to match 50% on the next 5% of eligible salary contributed per pay period by participating employees (with matching capped at 6% per pay period). Currently, we no longer offer matching contributions but do allow our employees to contribute to a 401(k) portfolio. The Company recognized no expenses related to the Plan in 2024 and 2023.

*Outstanding Equity Awards at Fiscal Year-End*

The outstanding equity awards at fiscal year-end table has been omitted as there is no required information to be disclosed for the fiscal year ended December 31, 2024.

**DIRECTOR COMPENSATION**

The director compensation table has been omitted as no compensation was received by the directors during the year ended December 31, 2024. We do not currently have an established compensation package for Board members.

**Compensation Committee**

Due to the prior resignations of B. Thomas Golisano and Seth Ellis, who headed the Compensation Committee, there are currently no members of the Board of Directors that serve on the Compensation Committee.In the meantime, any compensation decisions relating to our executive officers or directors will be handled by the Board of Directors. The Compensation Committee is responsible for, among other matters:

* reviewing and approving the compensation of our Chief Executive Officer and reviewing and setting or making recommendations to the Board of Directors on the compensation of our other executive officers;

* reviewing and making recommendations to the Board of Directors on the compensation of our directors, if applicable;

* appointing and overseeing any compensation consultants, legal counsel or other advisers;

* reviewing and approving or making recommendations to the Board of Directors regarding incentive compensation and equity-based plans and arrangements; and

* reviewing and discussing with management the Company's "Compensation Discussion & Analysis" to the extent required to be included in filings with the SEC.

We believe our compensation policies present no risks that are reasonably likely to have a material adverse effect on our Company. The Compensation Committee has not retained a compensation consultant to review our policies and procedures with respect to executive compensation. A copy of the Compensation Committee's charter is located on our website at www.tchhome.com.

------

---

| | |
|:---|:---|
| **Item 12.**  | [**Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.**](#TOC) |

---

The following table presents information about the beneficial ownership of the Company's Common Stock as of March 2, 2026 by those persons known to beneficially own more than 5% of our capital stock and by our directors, named executive officers, and current executive officers and directors as a group. The percentage of beneficial ownership for the following table is based on 259,092,833 shares of Common Stock outstanding as of March 2, 2026.

Beneficial ownership is determined in accordance with the rules of the SEC and does not necessarily indicate beneficial ownership for any other purpose. Under these rules, beneficial ownership includes those shares of Common Stock over which the stockholder has sole or shared voting or investment power. It also includes shares of Common Stock that the stockholder has a right to acquire within 60 days after March 2, 2026, pursuant to options, warrants, restricted stock units or other rights. The percentage of ownership of the outstanding Common Stock, however, is based on the assumption, expressly required by the rules of the SEC, that only the person or entity whose ownership is being reported has vested restricted stock units or converted options or warrants into shares of our Common Stock.

---

| | | |
|:---|:---|:---|
|  | **Beneficial Ownership**  | **Beneficial Ownership**  |
|  | **Shares of Common**  | **Percentage of**  |
| <u>Name and Address of beneficial owner <sup>1</sup></u> | **Stock**  | **Class**  |
|  ***5% Stockholders***  |  |  |
| Little Harbor LLC<sup>2</sup> | 33168948 | 12.80% |
| Great Harbor Capital, LLC<sup>3</sup> | 52832266 | 18.65% |
| David L. Van Andel Trust u/a dated November 1993<sup>4</sup> | 34791814 | 13.43% |
| Akretive Holdings, LLC<sup>5</sup> | 90255084 | 34.84% |
| David L. Van Andel |  |  |
|  ***Named Executive Officers and Directors***  |  |  |
| Kyle Casey  | - | - |
| Anthony Zolezzi<sup>6</sup> | - | - |
| **All executive officers and directors as a group (2 persons)**  | - | -% |

---

---

| | |
|:---|:---|
| <sup>\*</sup> | Less than 1% of the applicable class or combined voting power. |
| <sup>1</sup> | Except as otherwise provided, each party's address is care of the Company at 304 Indian Trace #438, Weston, Florida 33326. |
| 2 | By Schedule 13D/A, filed with the SEC on January 24, 2019, Little Harbor LLC reported that as of July 27, 2018, it has sole voting power and sole dispositive power over 33,168,948 shares. Little Harbor LLC is a Nevada limited liability company of which David L. Van Andel is the sole manager and a holder as sole trustee of the David L. Van Andel Trust u/a dated November 30, 1993 of 80.5% of the membership interests. The business address of Little Harbor LLC is 3133 Orchard Vista Drive SE, Grand Rapids, Michigan 49546.  |
| <sup><sup><sup><sup><sup><sup><sup><sup><sup>3</sup></sup></sup></sup></sup></sup></sup></sup></sup> | By Schedule 13D/A, filed with the SEC on January 24, 2019, Great Harbor Capital, LLC reported that as of July 27, 2018, it has sole voting power and sole dispositive power over 52,832,266 shares. Great Harbor Capital, LLC is a Delaware limited liability company of which David L. VanAndelis the sole manager and a holder as sole trustee of the David L. VanAndelTrust of 100% of the membership interests. This number includes 4,500,000 shares that are issuable upon the exercise of warrants that have vested or will vest within 60 days afterMarch 24, 2023. The business address of Great Harbor Capital, LLC is 3133 Orchard Vista Drive SE, Grand Rapids, Michigan 49546.<br>|
| 4 | By Schedule 13D/A, filed with the SEC on January 24, 2019, the David L. Van Andel Trust u/a dated November 30, 1993 reported that as of July 27, 2018, it has sole voting power and sole dispositive power over 34,791,814 shares. The sole trustee and the principal beneficiary of the David L. Van Andel Trust u/a dated November 30, 1993 is David L. Van Andel. The business address of the David L. Van Andel Trust u/a dated November 30, 1993 is 3133 Orchard Vista Drive SE, Grand Rapids, Michigan 49546.  |

---

------

<sup>5</sup> By Schedule 13D/A, filed with the SEC on April 22 2025, Akretive LLC, LLC, a New York limited liability company, reported that as of April 22, 2025, it has sole voting power and sole dispositive power over 90,255,084 shares. The shares were acquired in April of 2025 in connection with entering into a Membership Interest Purchase and Sale Agreement, pursuant to which, Golisano Holdings, LLC agreed to sell and Akretive LLC agreed to purchase 100% of the membership interest in Aketive Holdings. As part of the closing, Mr. Golisano and Akretive LLC terminated their Joint Filing Agreement, dated October 5, 2014, with respect to the filing of the Statement on Schedule 13D for the Company Common Stock. 

<sup>6</sup> By Schedule 13D/A, filed with the SEC on January 24, 2019, David L. Van Andel reported that as of July 27, 2018, he has sole voting power and sole dispositive power over 120,793,028 shares. This includes 34,791,814 shares owned by the Van Andel Trust, of which Mr. Van Andel is the sole trustee and the principal beneficiary, 33,168,948 shares owned by Little Harbor of which he is the sole manager and a holder as sole trustee of the Van Andel Trust of 80.5% of the membership interests, 48,332,266 shares owned by Great Harbor Capital, LLC, a Delaware limited liability company, of which he is the sole manager and a holder as sole trustee of the Van Andel Trust of 100% of the membership interests. Mr. Van Andel disclaims beneficial ownership of any shares held by the limited liability companies named above except to the extent of his pecuniary interest therein. This number does not include shared voting power held by Great Harbor Capital, LLC, and beneficially by Mr. Van Andel as the controlling member of Great Harbor Capital, LLC, over 212,559,664 shares of the Company's common stock with respect solely to the right to have certain shareholders vote in favor of electing two nominees of Great Harbor Capital, LLC to the Company's Board of Directors pursuant to a voting agreement. The business address of Mr. Van Andel is 3133 Orchard Vista Drive SE, Grand Rapids, Michigan 49546. 

**Equity Compensation Plan Information**

The following table summarizes the Twinlab Consolidation Corporation 2013 Stock Incentive Plan equity compensation plans under which our securities may be issued as of December 31, 2024.

---

| | | | |
|:---|:---|:---|:---|
|  |  |  | **Number of**  |
|  |  |  | **securities**  |
|  |  |  | **remaining**  |
|  | **Number of**  |  | **available for**  |
|  | **securities**  |  | **future issuance**  |
|  | **to be issued**  |  | **under equity**  |
|  | **upon**  | **Weighted-average**  | **compensation plans**  |
|  | **exercise of**  | **exercise**  | **(excluding**  |
|  | **outstanding**  | **price of**  | **securities**  |
|  | **options, warrant**  | **outstanding**  | **reflected in**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Plan Category**  | **and rights**  | **options**  | **column (a))**  |
| Equity compensation plans approved by security holders:  | -  | -  | -  |
| Equity compensation plans not approved by security holders  | 150000 | 0.4 | 7194412 |
| Total  | 150000 |  | 7194412 |

---

---

| | |
|:---|:---|
| **Item 13.**  | [**Certain Relationships and Related Transactions, And Director Independence.**](#TOC) |

---

See Notes 6 and 7 and 11 in the Notes to Consolidated Financial Statements included in this report for details of related-party transactions.

------

**Director Independence**

During 2024, the Board had determined that the following directors were independent pursuant to the rules of the Nasdaq Stock Market ("NASDAQ"): Messrs. Van Andel and Zolezzi. Since the OTCPK does not have rules regarding director independence, the Board makes its determination as to director independence based on the definition of "independence" as defined under the NASDAQ rules. In evaluating and determining the independence of the directors, the Board considered the relationships disclosed above under "Certain Relationships and Related Person Transactions" and determined that those relationships did not impair the directors' independence from us and our management under the NASDAQ rules. Currently, the Board has determined that there are no independent directors due to Mr. Zolezzi being the sole member of the Board of Directors and having been appointed Chief Executive Officer. The sole member of the Audit Committee is Anthony Zolezzi. There are currently no members of the Board who are members of the Compensation Committee or the Nominating and Corporate Governance Committee and the Board is fulfilling the functions of those committees.

---

| | |
|:---|:---|
| **Item 14.**  | [**Principal Accountant Fees and Services**](#TOC) |

---

The following table summarizes the fees of Tanner LLP ("Tanner"), our independent registered public accounting firm, billed to us for each of the last two fiscal years for audit services:

---

| | | |
|:---|:---|:---|
|  | **December 31,**  | **December 31,**  |
| **Fee Category**  | **2024** | **2023** |
| Audit fees  | $191474  | $201333 |
| Audit-Related fees  | - | - |
| Tax fees  | - | - |
| All Other Fees |  |  |
| Total fees  | $191474  | $201333 |

---

**AUDIT FEES**

Tanner billed the Company $191,474 and $201,333, respectively, in the aggregate for services rendered for the audits of the Company's 2024 and 2023 fiscal years and the review of the Company's interim financial statements included in the Company's Quarterly Reports on Form 10-Q for the Company's 2024 and 2023 fiscal years.

**AUDIT COMMITTEE PRE-APPROVAL POLICY AND PROCEDURES** 

The Board of Directors of the Company has appointed an Audit Committee, which operates pursuant to a written charter. The charter provides for the pre-approval of all audit services and all permitted non-audit services to be performed for the Company by the independent registered public accounting firm, subject to the requirements of applicable law. The procedures for pre-approving all audit and non-audit services provided by the independent registered public accounting firm will include the Audit Committee reviewing audit-related services, tax services and other services. The Audit Committee will periodically monitor the services rendered by and actual fees paid to the independent registered public accounting firm to ensure that such services are within the parameters approved by the Audit Committee.

All of the audit, audit-related and tax services provided by Tanner LLP to us in 2024 and 2023 were approved by the Audit Committee pursuant to these procedures. All non-audit services provided in 2024 and 2023 were reviewed with the Audit Committee, which concluded that the provision of such services by Tanner LLP was compatible with the maintenance of that firm's independence in the conduct of its auditing function.

------

[**PART IV**](#TOC)

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| | |
|:---|:---|
| **ITEM 15.** | [**EXHIBITS AND FINANCIAL STATEMENT**](#TOC) |

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| | | |
|:---|:---|:---|
| (a)(1) | The following consolidated financial statements are filed as a part of this 2024 10-K Report: |  |
| (i) | [Report of Independent Registered Public Accounting Firm](#Bp1_4I3HL44IUO00000000000000000000) (Firm ID: 270) | 56 |
| (ii) | [Consolidated Balance Sheets](#Bp2_VO0OXRZL7K00000000000000000000) | 58 |
| (iii) | [Consolidated Statements of Operations](#Bp3_EEIPVB7J9C00000000000000000000) | 59 |
| (iv) | [Consolidated Statements of Stockholders' Deficit](#Bp4_NH0TURMU9S00000000000000000000) | 60 |
| (v) | [Consolidated Statements of Cash Flows](#Bp5_B7LD0V4EU800000000000000000000) | 61 |
| (vi) | [Notes to Consolidated Financial Statements](#Bp6_9CROTO2HUO00000000000000000000) | 62 |

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| | |
|:---|:---|
| (a)(2) | Consolidated financial statement schedules have been omitted either because the required information is set forth in the consolidated financial statements or notes thereto, or the information called for is not required. |
| (b) | Exhibits. The following exhibits are filed as part of the report on Form 10-K:  |

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| | |
|:---|:---|
| **Exhibit**<br>**<u>Number</u>** | **<u>Exhibit Description</u>**  |
| 3.1 | [Articles of Incorporation (incorporated by reference from the Company's Registration Statement on Form S-1 (Reg. No. 333-193101) filed on December 27, 2013).](http://www.sec.gov/Archives/edgar/data/1590695/000107704813000208/ex3ia.htm) |
| 3.1.1 | [<u>Amendment to Articles of Incorporation (incorporated by reference from the Company's Current Report on Form 8-K filed on August 8, 2014).</u>](http://www.sec.gov/Archives/edgar/data/1590695/000107704814000169/ex3ai.htm) |
| 3.1.2 | [<u>Certificate of Change, dated August 28, 2014 (incorporated by reference from the Company's Current Report on Form 8-K filed on August 29, 2014).</u>](http://www.sec.gov/Archives/edgar/data/1590695/000107704814000197/ex3ic.htm) |
| 3.2 | [<u>Bylaws (incorporated by reference from the Company's Registration Statement on Form S-1 (Reg. No. 333-193101) filed on December 27, 2013).</u>](http://www.sec.gov/Archives/edgar/data/1590695/000107704813000208/ex3ii.htm) |
| 4.2 | [Description of Registrant's Securities (incorporated by reference from the Company's Annual Report on Form 10-K filed on March 29, 2022).](http://www.sec.gov/Archives/edgar/data/1590695/000175392622000353/ex42_1.htm) |
| 10.1 | [<u>Twinlab Consolidation Corporation 2013 Stock Incentive Plan (incorporated by reference from the Company's Current Report on Form 8-K filed on September 22, 2014).\*</u>](http://www.sec.gov/Archives/edgar/data/1590695/000107704814000221/tccplan.htm) |
| 10.2 | [<u>Debt Repayment Agreement dated as of July 31, 2014 between Little Harbor LLC and Twinlab Holdings, Inc. (f/k/a Idea Sphere Inc.) (incorporated by reference from the Company's Current Report on Form 8-K filed on September 22, 2014).</u>](http://www.sec.gov/Archives/edgar/data/1590695/000107704814000221/dra.htm) |
| 10.3 | [Note and Warrant Purchase Agreement, dated as of November 13, 2014, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation and Penta Mezzanine SBIC Fund I, L.P (incorporated by reference from the Company's Current Report on Form 8-K filed on November 18, 2014).](http://www.sec.gov/Archives/edgar/data/1590695/000114420414069557/v394525_ex10-14.htm) |
| 10.4 | [Initial Note, dated as of November 13, 2014, made by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc. and Twinlab Corporation payable to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on November 18, 2014).](http://www.sec.gov/Archives/edgar/data/1590695/000114420414069557/v394525_ex10-15.htm) |
| 10.5 | [Warrant, dated November 13, 2014, issued by Twinlab Consolidated Holdings, Inc. to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on November 18, 2014).](http://www.sec.gov/Archives/edgar/data/1590695/000114420414069557/v394525_ex10-16.htm) |
| 10.6 | [Security Agreement, dated as of November 13, 2014, made by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., and Twinlab Corporation in favor of Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on November 18, 2014).](http://www.sec.gov/Archives/edgar/data/1590695/000114420414069557/v394525_ex10-17.htm) |
| 10.7 | [Form of Deferred Draw Note made by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc. and Twinlab Corporation payable to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on November 18, 2014).](http://www.sec.gov/Archives/edgar/data/1590695/000114420414069557/v394525_ex10-18.htm) |
| 10.8 | [Form of Warrant issued by Twinlab Consolidated Holdings, Inc. to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on November 18, 2014).](http://www.sec.gov/Archives/edgar/data/1590695/000114420414069557/v394525_ex10-19.htm) |

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| | |
|:---|:---|
| 10.9 | [<u>Credit and Security Agreement, dated as of January 22, 2015, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., Twinlab Corporation, ISI Brands Inc., TCC CM Subco I, Inc. and TCC CM Subco II, Inc. and MidCap Financial Trust.(incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).</u>](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-23.htm) |
| 10.10 | [<u>Revolving Loan Note, dated January 22, 2015, by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc. and TCC CM Subco II, Inc. to the order of MidCap Financial Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).</u>](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-24.htm) |
| 10.11 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Consolidated Holdings, Inc. and MidCap Financial Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-25.htm) |
| 10.12 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Consolidation Corporation and MidCap Financial Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-26.htm) |
| 10.13 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Holdings, Inc. and MidCap Financial Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-27.htm) |
| 10.14 | [Warrant, dated January 22, 2015, issued by Twinlab Consolidated Holdings, Inc. to MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-28.htm) |
| 10.15 | [Registration Rights Agreement, dated as of January 22, 2015, by and between Twinlab Consolidated Holdings, Inc. and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-29.htm) |
| 10.16 | [Note and Warrant Purchase Agreement, dated as of January 22, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc., TCC CM Subco II, Inc. and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-30.htm) |
| 10.17 | [Note, dated as of January 22, 2015, made by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc. and TCC CM Subco II, Inc. payable to JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-31.htm) |
| 10.18 | [Warrant, dated January 22, 2015, issued by Twinlab Consolidated Holdings, Inc. to JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-32.htm) |
| 10.19 | [Security Agreement, dated as of January 22, 2015, made by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc. and TCC CM Subco II, Inc. in favor of JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-34.htm) |
| 10.20 | [Trust Deed, dated January 22, 2015, among Twinlab Corporation, as Trustor, Ryan B. Hancey, as Trustee, and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-35.htm) |
| 10.21 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Consolidated Holdings, Inc. and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-36.htm) |
| 10.22 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Consolidation Corporation and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-37.htm) |
| 10.23 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Holdings, Inc. and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-38.htm) |
| 10.24 | [Letter, dated January 16, 2015, from Fifth Third Bank to Twinlab Corporation, Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, ISI Brands Inc., Twinlab Holdings, Inc., David L. Van Andel, William W. Nicholson and MidCap Financial Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-45.htm) |
| 10.25 | [First Amendment to Note and Warrant Purchase Agreement, Consent and Joinder, dated as of January 22, 2015 by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc., TCC CM Subco II, Inc. and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-39.htm) |
| 10.26 | [Amended and Restated Note, dated as of January 22, 2015, by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc., TCC CM Subco II, Inc. in favor of Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-40.htm) |
| 10.27 | [Warrant, dated January 22, 2015, issued by Twinlab Consolidated Holdings, Inc. to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-41.htm) |
| 10.28 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Consolidated Holdings, Inc. and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-42.htm) |
| 10.29 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Consolidation Corporation and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-43.htm) |
| 10.30 | [Pledge Agreement, dated as of January 22, 2015, by and between Twinlab Holdings, Inc. and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415004333/v399410_ex10-44.htm) |

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| 10.31 | [Amendment No. 1 to Credit and Security Agreement and Limited Consent, dated as of February 4, 2015, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc. and TCC CM Subco II, Inc. and MidCap Funding X Trust incorporated by reference from the Company's Current Report on Form 8-K filed on January 28, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415006906/v400715_ex10-45.htm) |
| 10.32 | [First Amendment to Note and Warrant Purchase Agreement and Consent, dated as of February 4, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc., TCC CM Subco II, Inc. and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 9, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415006906/v400715_ex10-46.htm) |
| 10.33 | [Warrant, dated February 4, 2015, issued by Twinlab Consolidated Holdings, Inc. to JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 9, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415006906/v400715_ex10-47.htm) |
| 10.34 | [Second Amendment to Note and Warrant Purchase Agreement and Consent, dated as of February 4, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, TCC CM Subco I, Inc., TCC CM Subco II, Inc. and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 9, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415006906/v400715_ex10-48.htm) |
| 10.35 | [Unsecured Promissory Note, dated February 6, 2015, in the amount of $2,500,000 made by TCC CM Subco I, Inc. payable to Nutricap Labs, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 9, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415006906/v400715_ex10-50.htm) |
| 10.36 | [Unsecured Promissory Note, dated February 6, 2015, in the amount of $1,478,000 made by TCC CM Subco I, Inc. payable to Nutricap Labs, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 9, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415006906/v400715_ex10-51.htm) |
| 10.37 | [Office Lease Agreement, dated April 7, 2015, by and between First Central Tower, Limited Partnership and Twinlab Consolidated Holdings, Inc. and Twinlab Consolidation Corporation, as Joint Tenants (incorporated by reference from the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2015 and filed on May 14, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415030770/v407267_ex10-58.htm) |
| 10.38 | [Reimbursement Agreement, dated as of April 30, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation and JL Properties, Inc. (incorporated by reference from the Company's Current Report on Form 8-K filed on May 6, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415027932/v408638_ex10-52.htm) |
| 10.39 | [Warrant, dated April 30, 2015, issued by Twinlab Consolidated Holdings, Inc. to JL Properties, Inc. (incorporated by reference from the Company's Current Report on Form 8-K filed on May 6, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415027932/v408638_ex10-53.htm) |
| 10.40 | [Warrant, dated April 30, 2015, issued by Twinlab Consolidated Holdings, Inc. to JL Properties, Inc. (incorporated by reference from the Company's Current Report on Form 8-K filed on May 6, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415027932/v408638_ex10-54.htm) |
| 10.41 | [Amendment No. 3 to Credit and Security Agreement and Limited Consent, dated as of April 30, 2015, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc. and NutraScience Labs IP Corporation and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on May 6, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415027932/v408638_ex10-55.htm) |
| 10.42 | [Third Amendment to Note and Warrant Purchase Agreement and Consent, dated as of April 30, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on May 6, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415027932/v408638_ex10-56.htm) |
| 10.43 | [Second Amendment to Note and Warrant Purchase Agreement and Consent, dated as of April 30, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on May 6, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415027932/v408638_ex10-57.htm) |
| 10.44 | [Stock Purchase Agreement, dated as of June 2, 2015, by and between Twinlab Consolidated Holdings, Inc. and the David L. Van Andel Trust, under Trust Agreement dated November 30, 1993 (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415036040/v412425_ex10-61.htm) |
| 10.45 | [Warrant, dated June 2, 2015, by and between Twinlab Consolidated Holdings, Inc. and the David L. Van Andel Trust, under Trust Agreement dated November 30, 1993 (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415036040/v412425_ex10-62.htm) |
| 10.46 | [Warrant, dated June 2, 2015, by and between Twinlab Consolidated Holdings, Inc. and the David L. Van Andel Trust, under Trust Agreement dated November 30, 1993 (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415036040/v412425_ex10-63.htm) |
| 10.47 | [Stock Purchase Agreement, dated as of June 2, 2015, by and between Twinlab Consolidated Holdings, Inc. and Little Harbor, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415036040/v412425_ex10-64.htm) |
| 10.48 | [Warrant, dated June 2, 2015, by and between Twinlab Consolidated Holdings, Inc. and Little Harbor, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415036040/v412425_ex10-65.htm) |
| 10.49 | [Amendment No. 4 to Credit and Security Agreement and Limited Waiver, dated as of June 30, 2015, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-66.htm) |

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| 10.50 | [Amendment No. 5 to Credit and Security Agreement and Limited Waiver, dated as of June 30, 2015, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-67.htm) |
| 10.51 | [Stock Purchase Agreement, dated as of June 30, 2015, by and between Twinlab Consolidated Holdings, Inc. and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-68.htm) |
| 10.52 | [Warrant, dated June 30, 2015, by and between Twinlab Consolidated Holdings, Inc. and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-69.htm) |
| 10.53 | [Fourth Amendment to Note and Warrant Purchase Agreement, Limited Consent and Limited Waiver, dated as of June 30, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-70.htm) |
| 10.54 | [Stock Purchase Agreement, dated as of June 30, 2015, by and between Twinlab Consolidated Holdings, Inc. and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-71.htm) |
| 10.55 | [Warrant, dated June 30, 2015, by and between Twinlab Consolidated Holdings, Inc. and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-72.htm) |
| 10.56 | [Third Amendment to Note and Warrant Purchase Agreement, Limited Consent and Limited Waiver, dated as of June 30, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and JL-BBNC Mezz Utah LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on July 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415041371/v414983_ex10-73.htm) |
| 10.57 | [Warrant, dated August 14, 2015, by and between Twinlab Consolidated Holdings, Inc. and Penta Mezzanine SBIC Fund I, LP. (incorporated by reference from the Company's Current Report on Form 8-K filed on August 20, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415050963/v418425_ex10-80.htm) |
| 10.58 | [Amendment No. 1 to Twinlab Consolidated Holdings, Inc. Warrant, dated as of August 14, 2015, by and among Twinlab Consolidated Holdings, Inc. and the David L. Van Andel Trust, Under Trust Agreement Dated November 30, 1993. (incorporated by reference from the Company's Current Report on Form 8-K filed on August 20, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415050963/v418425_ex10-81.htm) |
| 10.59 | [<u>Amendment No. 1 to Twinlab Consolidated Holdings, Inc. Warrant, dated as of August 14, 2015, by and among Twinlab Consolidated Holdings, Inc. and Little Harbor, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on August 20, 2015).</u>](http://www.sec.gov/Archives/edgar/data/1590695/000114420415050963/v418425_ex10-83.htm) |
| 10.60 | [Amendment No. 1 to Twinlab Consolidated Holdings, Inc. Warrant, dated as of August 14, 2015, by and among Twinlab Consolidated Holdings, Inc. and JL-BBNC Mezz Utah, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on August 20, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415050963/v418425_ex10-84.htm) |
| 10.61 | [Put Agreement Related to Exercise of Warrant 2015-17, dated as of September 9, 2015, by and among Twinlab Consolidated Holdings, Inc. and the David L. Van Andel Trust under trust agreement dated November 30, 1999. (incorporated by reference from the Company's Current Report on Form 8-K filed on September 15, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415055067/v420332_ex10-85.htm) |
| 10.62 | [Amendment No. 6 to Credit and Security Agreement, Limited Consent and Limited Waiver, dated as of September 9, 2015, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on September 15, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415055067/v420332_ex10-86.htm) |
| 10.63 | [Fifth Amendment to Note and Warrant Purchase Agreement and Limited Consent, dated as of September 9, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on September 15, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415055067/v420332_ex10-87.htm) |
| 10.64 | [Fourth Amendment to Note and Warrant Purchase Agreement and Limited Consent, dated as of September 9, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and JL-Mezz Utah LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on September 15, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415055067/v420332_ex10-88.htm) |
| 10.65 | [Stock Purchase Agreement, dated as of October 1, 2015, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 7, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058473/v418643_ex10-89.htm) |
| 10.66 | [Securities Purchase Agreement, dated as of October 2, 2015, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-90.htm) |
| 10.67 | [Common Stock Purchase Warrant, dated October 5, 2015, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-91.htm) |
| 10.68 | [Registration Rights Agreement, dated as of October 5, 2015, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-92.htm) |
| 10.69 | [Voting Agreement, dated as of October 5, 2015, among Twinlab Consolidated Holdings, Inc., Golisano Holdings LLC, and Thomas A. Tolworthy, Little Harbor, LLC, Great Harbor Capital, LLC and the David L. Van Andel Trust U/A dated November 30, 1993. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-93.htm) |

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| 10.70 | [Voting Agreement, dated as of October 2, 2015, among Twinlab Consolidated Holdings, Inc., Great Harbor Capital, LLC and Golisano Holdings LLC, Thomas A. Tolworthy, Little Harbor, LLC, and the David L. Van Andel Trust U/A dated November 30, 1993. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-94.htm) |
| 10.71 | [Amendment No. 7 and Joinder Agreement to Credit and Security Agreement, dated as of October 5, 2015, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings, LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC and MidCap Funding X Trust. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-96.htm) |
| 10.72 | [First Amended and Restated Revolving Loan Note, dated October 5, 2015, by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings, LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-97.htm) |
| 10.73 | [Sixth Amendment to Note and Warrant Purchase Agreement, dated as of October 5, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-98.htm) |
| 10.74 | [Limited Waiver to Note Warrant and Purchase Agreement, dated as of October 2, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-99.htm) |
| 10.75 | [Fifth Amendment to Note and Warrant Purchase Agreement, dated as of October 5, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC). (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-100.htm) |
| 10.76 | [Limited Waiver to Note Warrant and Purchase Agreement, dated as of October 2, 2015, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation and JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC). (incorporated by reference from the Company's Current Report on Form 8-K filed on October 8, 2015).](http://www.sec.gov/Archives/edgar/data/1590695/000114420415058625/v418643_ex10-101.htm) |
| 10.77 | [Unsecured Promissory Note, dated January 28, 2016, issued by Twinlab Consolidated Holdings, Inc. in favor of Golisano Holdings LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 3, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416078761/v430332_ex10-112.htm) |
| 10.78 | [Warrant, dated January 28, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 3, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416078761/v430332_ex10-113.htm) |
| 10.79 | [Unsecured Promissory Note, dated January 28, 2016, issued by Twinlab Consolidated Holdings, Inc. in favor of GREAT HARBOR CAPITAL, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 3, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416078761/v430332_ex10-114.htm) |
| 10.80 | [Warrant, dated January 28, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 3, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416078761/v430332_ex10-115.htm) |
| 10.81 | [Amendment No. 8 to Credit and Security Agreement, dated as of January 28, 2016, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings, LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC and MidCap Funding X Trust.(incorporated by reference from the Company's Current Report on Form 8-K filed on February 3, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416078761/v430332_ex10-116.htm) |
| 10.82 | [Seventh Amendment to Note and Warrant Purchase Agreement, dated as of January 28, 2016, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, and Joie Essance, LLC and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on February 3, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416078761/v430332_ex10-117.htm) |
| 10.83 | [Sixth Amendment to Note and Warrant Purchase Areement dated as of January 28 2016 by and between Twinlab Consolidated Holdins Inc. Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, and Joie Essance, LLC and JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC). (incorporated by reference from the Company's Current Report on Form 8-K filed on February 3, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416078761/v430332_ex10-118.htm) |

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| 10.84 | [Unsecured Promissory Note, dated March 21, 2016, issued by Twinlab Consolidated Holdings in favor of Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on March 25, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416090438/v435364_ex10-119.htm) |
| 10.85 | [Warrant, dated March 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on March 25, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416090438/v435364_ex10-120.htm) |
| 10.86 | [Unsecured Promissory Note, dated March 21, 2016, issued by Twinlab Consolidated Holdings, Inc. in favor of GREAT HARBOR CAPITAL, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on March 25, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416090438/v435364_ex10-121.htm) |
| 10.87 | [Warrant, dated March 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on March 25, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416090438/v435364_ex10-122.htm) |
| 10.88 | [Amendment No. 1 to Unsecured Promissory Note, dated as of March 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on March 25, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416090438/v435364_ex10-123.htm) |
| 10.89 | [Amendment No. 1 to Unsecured Promissory Note, dated as of March 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on March 25, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416090438/v435364_ex10-124.htm) |
| 10.90 | [Amendment No. 9 to Credit and Security Agreement, dated as of April 5, 2016, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on April 11, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416093705/v436683_ex10-128.htm) |
| 10.91 | [Eighth Amendment to Note and Warrant Purchase Agreement, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, and Joie Essance, LLC and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on April 11, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416093705/v436683_ex10-129.htm) |
| 10.92 | [Seventh Amendment to Note and Warrant Purchase Agreement, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, and Joie Essance, LLC and JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC) (incorporated by reference from the Company's Current Report on Form 8-K filed on April 11, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416093705/v436683_ex10-130.htm) |
| 10.93 | [Amendment No. 2 to Unsecured Promissory Note, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on April 11, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416093705/v436683_ex10-131.htm) |
| 10.94 | [Amendment No. 1 to Unsecured Promissory Note, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on April 11, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416093705/v436683_ex10-132.htm) |
| 10.95 | [Amendment No. 2 to Unsecured Promissory Note, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on April 11, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416093705/v436683_ex10-133.htm) |
| 10.96 | [Amendment No. 1 to Unsecured Promissory Note, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on April 11, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416093705/v436683_ex10-134.htm) |
| 10.97 | [Unsecured Delayed Draw Promissory Note, dated July 21, 2016, issued by Twinlab Consolidated Holdings, Inc. in favor of Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-135.htm) |
| 10.98 | [Warrant, dated July 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-136.htm) |
| 10.99 | [Unsecured Delayed Draw Promissory Note, dated July 21, 2016, issued by Twinlab Consolidated Holdings, Inc. in favor of Little Harbor, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-137.htm) |
| 10.100 | [Warrant, dated July 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and Little Harbor, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-138.htm) |
| 10.101 | [Amendment No. 3 to Unsecured Promissory Note, dated as of July 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-139.htm) |
| 10.102 | [Amendment No. 2 to Unsecured Promissory Note, dated as of July 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-140.htm) |
| 10.103 | [Amendment No. 3 to Unsecured Promissory Note, dated as of July 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-141.htm) |
| 10.104 | [Amendment No. 2 to Unsecured Promissory Note, dated as of July 21, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on July 27, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416114668/v445147_ex10-142.htm) |

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| 10.105 | [Amendment No. 10 to Credit and Security Agreement, dated as of April 5, 2016, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on August 16, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416119755/v447115_ex10-144.htm) |
| 10.106 | [Ninth Amendment to Note and Warrant Purchase Agreement, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, and Joie Essance, LLC and Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference from the Company's Current Report on Form 8-K filed on August 16, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416119755/v447115_ex10-145.htm) |
| 10.107 | [Eighth Amendment to Note and Warrant Purchase Agreement, dated as of April 5, 2016, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, and Joie Essance, LLC and JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC) (incorporated by reference from the Company's Current Report on Form 8-K filed on August 16, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416119755/v447115_ex10-146.htm) |
| 10.108 | [Amendment No. 11 to Credit and Security Agreement, dated as of September 2, 2016, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on September 7, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000114420416123111/v448441_ex10-1.htm) |
| 10.109 | [First Amendment to Lease Agreement, made as of November 18, 2016, by and between First Central Tower, Limited Partnership and Twinlab Consolidation Corporation and Twinlab Consolidated Holdings, Inc. (incorporated by reference to Exhibit 10.1 from the Company's Current Report on Form 8-K filed on December 6, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000143774916042973/ex10-1.htm) |
| 10.110 | [Agreement of Sublease, dated as of December 1, 2016, by and among Twinlab Consolidated Holdings, Inc. and Twinlab Consolidation Corporation and Powerchord, Inc. (incorporated by reference to Exhibit 10.2 from the Company's Current Report on Form 8-K filed on December 6, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000143774916042973/ex10-2.htm) |
| 10.111 | [Lease Agreement, dated as of December 15, 2016, by and between Boca T-Rex Borrower, LLC and Twinlab Consolidation Corporation (incorporated by reference to Exhibit 10.1 from the Company's Current Report on Form 8-K filed on December 16, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000143774916043446/ex10-1.htm) |
| 10.112 | [Basic Lease Information Rider, dated December 15, 2016, between Boca T-Rex Borrower, LLC and Twinlab Consolidation Corporation (incorporated by reference to Exhibit 10.2 from the Company's Current Report on Form 8-K filed on December 16, 2016).](http://www.sec.gov/Archives/edgar/data/1590695/000143774916043446/ex10-2.htm) |
| 10.113 | [Unsecured Promissory Note, dated December 30, 2016, issued by Twinlab Consolidated Holdings, Inc. in favor of Golisano Holdings LLC (incorporated by reference to Exhibit 10.144 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-144.htm) |
| 10.114 | [Warrant, dated December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference to Exhibit 10.145 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-145.htm) |
| 10.115 | [Unsecured Promissory Note, dated December 30, 2016, issued by Twinlab Consolidated Holdings, Inc. in favor of Great Harbor, LLC (incorporated by reference to Exhibit 10.146 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-146.htm) |
| 10.116 | [Warrant, dated December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor, LLC (incorporated by reference to Exhibit 10.147 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-147.htm) |
| 10.117 | [Amendment No. 4 to Unsecured Promissory Note, dated as of December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference to Exhibit 10.148 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-148.htm) |
| 10.118 | [Amendment No. 3 to Unsecured Promissory Note, dated as of December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference to Exhibit 10.149 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-149.htm) |
| 10.119 | [Amendment No. 1 to Unsecured Delayed Draw Promissory Note, dated as of December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference to Exhibit 10.150 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-150.htm) |
| 10.120 | [Amendment No. 3 to Unsecured Promissory Note, dated as December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference to Exhibit 10.151 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-151.htm) |
| 10.121 | [Amendment No. 4 to Unsecured Promissory Note, dated as December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and GREAT HARBOR CAPITAL, LLC (incorporated by reference to Exhibit 10.152 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-152.htm) |

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| 10.122 | [Amendment No. 1 to Unsecured Delayed Draw Promissory Note, dated as of December 30, 2016, by and between Twinlab Consolidated Holdings, Inc. and LITTLE HARBOR CAPITAL, LLC (incorporated by reference to Exhibit 10.153 from the Company's Current Report on Form 8-K filed on January 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917000323/ex10-153.htm) |
| 10.123 | [Unsecured Promissory Note, dated as of March 14, 2017, issued by Twinlab Consolidated Holdings, Inc. in favor of Golisano Holdings LLC (incorporated by reference to Exhibit 10.146 from the Company's Current Report on Form 8-K filed on March 17, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917004825/ex10-146.htm) |
| 10.124 | [Warrant, dated March 14, 2017, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC (incorporated by reference to Exhibit 10.147 from the Company's Current Report on Form 8-K filed on March 17, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917004825/ex10-147.htm) |
| 10.125 | [Subordination Agreement, dated June 2, 2017, by and among 2014 Huntington Holdings, LLC, Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC, and Midcap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917010966/ex10-167.htm) |
| 10.126 | [Agreement of Lease, dated June 2, 2017, between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc. (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917010966/ex10-168.htm) |
| 10.127 | [Rider to the Lease, dated June 2, 2017, by and between Carolyn Holdings, LLC and Twinlab Consolidated Holdings, Inc. (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917010966/ex10-169.htm) |
| 10.128 | [Landlord's Agreement, dated June 2, 2017, by and among Carolyn Holdings LLC, Twinlab Consolidated Holdings, Inc. and Midcap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on June 8, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917010966/ex10-170.htm) |
| 10.129 | [Secured Promissory Note, dated August 30, 2017, issued by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC, and Joie Essance, LLC in favor of Great Harbor Capital, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on September 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917015622/ex10-171.htm) |
| 10.130 | [Warrant, dated August 30, 2017, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor Capital, LLC (incorporated by reference from the Company's Current Report on Form 8-K filed on September 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917015622/ex10-172.htm) |
| 10.131 | [Amendment No. 13 to Credit and Security Agreement and Limited Consent, dated as of August 30, 2017, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC and MidCap Funding X Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on September 6, 2017).](http://www.sec.gov/Archives/edgar/data/1590695/000143774917015622/ex10-173.htm) |
| 10.132 | [Amendment No. 14 to Credit and Security Agreement and Limited Waiver, dated as of March 22, 2018 by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC and MidCap Funding X Trust (incorporated by reference to Exhibit 10.174 from the Company's Current Report on Form 8-K filed on March 29, 2018).](http://www.sec.gov/Archives/edgar/data/1590695/000143774918005745/ex_109223.htm) |
| 10.133 | [Agreement for Equity in Exchange for Services, dated as of December 27, 2017, by and between Platinum Advisory Services LLC and Twinlab Consolidated Holdings, Inc. (Portions of this exhibit have been omitted and filed separately with the Securities and Exchange Commission pursuant to a request for confidential treatment) (incorporated by reference to Exhibit 10.175 from the Company's Annual Report on Form 10-K filed on April 3, 2018).](http://www.sec.gov/Archives/edgar/data/1590695/000143774918006187/ex_109784.htm) |
| 10.134 | [Secured Promissory Note, dated July 27, 2018, issued by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC, and Joie Essance, LLC in favor of Great Harbor Capital, LLC (incorporated by reference to Exhibit 10.178 from the Company's Quarterly Report on Form 10-Q filed on November 19, 2018).](http://www.sec.gov/Archives/edgar/data/1590695/000143774918021065/ex_129841.htm) |
| 10.135 | [Warrant, dated July 27, 2018, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor Capital, LLC (incorporated by reference to Exhibit 10.179 from the Company's Quarterly Report on Form 10-Q filed on November 19, 2018).](http://www.sec.gov/Archives/edgar/data/1590695/000143774918021065/ex_130039.htm) |
| 10.136 | [Twelfth Amendment to Note and Warrant Purchase Agreement, dated as of July 27, 2018, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, Joie Essance, LLC and Golisano Holdings LLC, as successor by assignment to JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC) (incorporated by reference to Exhibit 10.180 from the Company's Quarterly Report on Form 10-Q filed on November 19, 2018).](http://www.sec.gov/Archives/edgar/data/1590695/000143774918021065/ex_130040.htm) |

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| 10.137 | [Thirteenth Amendment to Note and Warrant Purchase Agreement, dated as of July 27, 2018, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, Joie Essance, LLC and Golisano Holdings LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference to Exhibit 10.181 from the Company's Quarterly Report on Form 10-Q filed on November 19, 2018).](http://www.sec.gov/Archives/edgar/data/1590695/000143774918021065/ex_130041.htm) |
| 10.138 | [Secured Promissory Note, dated November 5, 2018, issued by Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC, and Joie Essance, LLC in favor of Great Harbor Capital, LLC (portions of the exhibit have been omitted) (incorporated by reference to Exhibit 10.182 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140666.htm) |
| 10.139 | [Warrant, dated November 5, 2018, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor Capital, LLC (incorporated by reference to Exhibit 10.183 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140667.htm) |
| 10.140 | [Thirteenth Amendment to Note and Warrant Purchase Agreement, dated as of November 5, 2018, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, Joie Essance, LLC and Golisano Holdings LLC, as successor by assignment to JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC). (portions of the exhibit have been omitted) (incorporated by reference to Exhibit 10.184 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140668.htm) |
| 10.141 | [Fourteenth Amendment to Note and Warrant Purchase Agreement, dated as of November 5, 2018, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, Joie Essance, LLC and Golisano Holdings LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P (portions of the exhibit have been omitted) (incorporated by reference to Exhibit 10.185 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140669.htm) |
| 10.142 | [Term Loan Note and Agreement, dated December 4, 2018, by and between Twinlab Consolidated Holdings, Inc. and Macatawa Bank (incorporated by reference to Exhibit 10.186 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140543.htm) |
| 10.143 | [Limited Guaranty, dated as of December 4, 2018, by and between 463IP Partners, LLC and Macatawa Bank (incorporated by reference to Exhibit 10.187 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140702.htm) |
| 10.144 | [Fourteenth Amendment to Note and Warrant Purchase Agreement, dated as of November 5, 2018, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, Joie Essance, LLC and Golisano Holdings LLC, as successor by assignment to JL-Mezz Utah LLC (f/k/a JL-BBNC Mezz Utah, LLC) (incorporated by reference to Exhibit 10.188 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140544.htm) |
| 10.145 | [Fifteenth Amendment to Note and Warrant Purchase Agreement, dated as of December 4, 2018, by and between Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Speciality Distribution, LLC, Joie Essance, LLC and Golisano Holdings LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference to Exhibit 10.189 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140545.htm) |
| 10.146 | [Amendment No. 15 to Credit and Security Agreement dated as of December 4, 2018 by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC and MidCap Funding X Trust (incorporated by reference to Exhibit 10.190 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140670.htm) |
| 10.147 | [Amendment No. 1 to Amended and Restated Unsecured Delayed Draw Promissory Note, dated January 23, 2019, by and between Twinlab Consolidated Holdings, Inc. and Little Harbor LLC (incorporated by reference to Exhibit 10.191 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140671.htm) |
| 10.148 | [Third Amended and Restated Revolving Loan Note, dated January 22, 2019, by Twinlab Consolidated Holdings, Inc. (incorporated by reference to Exhibit 10.192 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140672.htm) |

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| | |
|:---|:---|
| 10.149 | [Amendment No. 6 to Unsecured Promissory Note, dated January 23, 2019, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor Capital, LLC. ($7MM) (incorporated by reference to Exhibit 10.193 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140673.htm) |
| 10.150 | [Amendment No. 7 to Unsecured Promissory Note, dated January 23, 2019, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor Capital, LLC. ($2.5MM) (incorporated by reference to Exhibit 10.194 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140675.htm) |
| 10.151 | [Amendment No. 16 to Credit and Security Agreement, dated as of January 22, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC and MidCap Funding X Trust (incorporated by reference to Exhibit 10.195 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140786.htm) |
| 10.152 | [Amendment No. 1 to Amended and Restated Unsecured Delayed Draw Promissory Note, dated January 28, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC. ($4.7MM) (incorporated by reference to Exhibit 10.196 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140676.htm) |
| 10.153 | [Amendment No. 1 to Amended and Restated Unsecured Promissory Note, dated January 28, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC. ($2.5MM) (incorporated by reference to Exhibit 10.197 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140677.htm) |
| 10.154 | [Amendment No. 1 to Amended and Restated Unsecured Promissory Note, dated January 28, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC. ($7MM) (incorporated by reference to Exhibit 10.198 from the Company's Annual Report on Form 10-K filed on April 16, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919007334/ex_140678.htm) |
| 10.155 | [Amendment No. 17 to Credit and Security Agreement, dated as of April 22, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC and Joie Essance, LLC and MidCap Funding IV Trust (incorporated by reference to Exhibit 10.199 from the Company's Quarterly Report on Form 10-Q filed on May 15, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919010104/ex_144129.htm) |
| 10.156 | [Warrant dated April 22, 2019, by and between Twinlab Consolidated Holdings, Inc. and MidCap Funding IV Trust (incorporated by reference to Exhibit 10.200 from the Company's Quarterly Report on Form 10-Q filed on May 15, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919010104/ex_144130.htm) |
| 10.157 | [Amendment No. 1 to Amended and Restated Secured Promissory Note dated as of July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Great Harbor Capital, LLC to amend that certain Amended and Restated Secured Note #1, dated August 30, 2017 ($3MM) (incorporated by reference to Exhibit 10.203 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154617.htm) |
| 10.158 | [Amendment No. 1 to Secured Promissory Note dated as of July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Great Harbor Capital, LLC to amend that certain Secured Note #1, dated February 6, 2018 ($2MM) (incorporated by reference to Exhibit 10.204 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154596.htm) |
| 10.159 | [Amendment No. 1 to Secured Promissory Note dated as of July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Great Harbor Capital, LLC to amend that certain Secured Note #2, dated July 27, 2018 ($5MM) (incorporated by reference to Exhibit 10.205 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154597.htm) |
| 10.160 | [Amendment No. 1 to Secured Promissory Note dated as of July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Great Harbor Capital, LLC to amend that certain Secured Note #3, dated November 5, 2018 ($4MM) (incorporated by reference to Exhibit 10.206 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154598.htm) |
| 10.161 | [Amendment No. 8 to Unsecured Promissory Note dated as of July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor to amend that certain Unsecured Promissory Note #1, dated January 28, 2016 ($2.5MM) (incorporated by reference to Exhibit 10.207 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154599.htm) |

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| | |
|:---|:---|
| 10.162 | [Amendment No. 7 to Unsecured Promissory Note dated as of July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor to amend that certain Unsecured Promissory Note #2, dated March 21, 2016 ($7MM) (incorporated by reference to Exhibit 10.208 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154600.htm) |
| 10.163 | [Amendment No. 1 to the Unsecured Amended and Restated Promissory Note dated as of July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Great Harbor to amend that certain Unsecured Amended and Restated Promissory Note, dated August 30, 2016 ($2.5MM) (incorporated by reference to Exhibit 10.209 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154601.htm) |
| 10.164 | [Amendment No. 2 to Amended and Restated Unsecured Delayed Draw Promissory Note dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Little Harbor LLC to amend that certain Amended and Restated Unsecured Delayed Draw Promissory Note, dated August 30, 2017 ($4.8MM) (incorporated by reference to Exhibit 10.210 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154602.htm) |
| 10.165 | [Amendment No. 1 to Unsecured Promissory Note - Replacing Debt Repayment Promissory Note, dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Little Harbor LLC to amend that certain Unsecured Promissory Note, dated February 6, 2018 ($3.3MM) (incorporated by reference to Exhibit 10.211 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154618.htm) |
| 10.166 | [Amendment No. 1 to Secured Promissory Note dated July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Great Harbor Capital, LLC to amend that certain Secured Promissory Note, dated February 6, 2018 ($2MM) (incorporated by reference to Exhibit 10.212 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154619.htm) |
| 10.167 | [Amendment No. 2 to Amended and Restated Unsecured Delayed Draw Promissory Note dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC to amend that certain Amended and Restated Unsecured Delayed Draw Promissory Note, dated August 30, 2017 ($4.8MM) (incorporated by reference to Exhibit 10.213 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154620.htm) |
| 10.168 | [Amendment No. 2 to Amended and Restated Unsecured Promissory Note dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC to amend that certain Amended and Restated Unsecured Promissory Note, dated August 30, 2017 \[Unsecured Note #1\] ($2.5MM) (incorporated by reference to Exhibit 10.214 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154621.htm) |
| 10.169 | [Amendment No. 2 to Amended and Restated Unsecured Promissory Note dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC to amend that certain Amended and Restated Unsecured Promissory Note, dated August 30, 2017 \[Unsecured Note #2\] ($7MM) (incorporated by reference to Exhibit 10.215 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154622.htm) |
| 10.170 | [Amendment No. 1 to Amended and Restated Unsecured Promissory Note dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC to amend that certain Amended and Restated Unsecured Promissory Note, dated August 30, 2017 \[Unsecured Note #3\] ($2.5MM) (incorporated by reference to Exhibit 10.216 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154623.htm) |
| 10.171 | [Amendment No. 1 to Amended and Restated Unsecured Promissory Note dated July 8, 2019, by and between Twinlab Consolidated Holdings, Inc. and Golisano Holdings LLC to amend that certain Amended and Restated Unsecured Promissory Note, dated August 30, 2017 \[Unsecured Note #4\] ($3.3MM) (incorporated by reference to Exhibit 10.217 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154624.htm) |
| 10.172 | [First Amendment to Amended and Restated Note dated July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Golisano Holdings LLC, as successor by assignment to JL-Mezz Utah, LLC f/k/a JL-BBNC Mezz Utah, LLC to amend that certain Amended and Restated Note, dated August 30, 2017 ($5MM) (incorporated by reference to Exhibit 10.218 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154625.htm) |
| 10.173 | [First Amendment to Second Amended and Restated Note dated July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Golisano Holdings LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P. to amend that certain Second Amended and Restated Note, dated August 30, 2017 ($8MM) (incorporated by reference to Exhibit 10.219 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154626.htm) |

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|:---|:---|
| 10.174 | [First Amendment to Amended and Restated Deferred Draw Note dated July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Golisano Holdings LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P. to amend that certain Amended and Restated Deferred Draw Note, dated August 30, 2017 ($2MM) (incorporated by reference to Exhibit 10.220 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154627.htm) |
| 10.175 | [Fifteenth Amendment to the Note and Warrant Purchase Agreement, dated July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Golisano Holdings LLC, as successor by assignment to JL-Mezz Utah, LLC f/k/a JL-BBNC Mezz Utah, LLC. (incorporated by reference to Exhibit 10.221 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154628.htm) |
| 10.176 | [Sixteenth Amendment to Note and Warrant Purchase Agreement, dated July 8, 2019, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, Nutrascience Labs, Inc., Nutrascience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, LLC, Innovita Specialty Distribution LLC and Joie Essance, LLC, and Golisano Holdings LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P. (incorporated by reference to Exhibit 10.222 from the Company's Quarterly Report on Form 10-Q filed on August 14, 2019).](http://www.sec.gov/Archives/edgar/data/1590695/000143774919016830/ex_154629.htm) |
| 10.177 | [Promissory Note, dated February 5, 2021, by and between Twinlab Consolidated Corporation and Fifth Third Bank (incorporated by reference from the Company's current Report on Form 8-K filed on April 29, 2021).](http://www.sec.gov/Archives/edgar/data/0001590695/000143774921010253/ex_245071.htm) |
| 10.178 | [Amendment No. 18 to Credit and Security Agreement, dated as of April 22, 2021, by and among Twinlab Consolidated Holdings, Inc., Twinlab Consolidation Corporation, Twinlab Holdings, Inc., ISI Brands Inc., Twinlab Corporation, NutraScience Labs, Inc., NutraScience Labs IP Corporation, Organic Holdings LLC, Reserve Life Organics, LLC, Resvitale, LLC, Re-Body, LLC, Innovitamin Organics, LLC, Organics Management LLC, Cocoawell, LLC, Fembody, LLC, Reserve Life Nutrition, L.L.C., Innovita Specialty Distribution, LLC, Joie Essance, LLC and MidCap Funding IV Trust (incorporated by reference from the Company's Current Report on Form 8-K filed on August 13, 2021).](http://www.sec.gov/Archives/edgar/data/1590695/000143774921019831/ex_275701.htm) |
| 10.179 | [Third Amendment to Term Loan Note and Agreement by and between Twinlab Consolidated Holdings, Inc. and Macatawa Bank (incorporated by reference from the Company's Annual Report on Form 10-K filed on March 31, 2023.](http://www.sec.gov/Archives/edgar/data/1590695/000175392623000347/ex10179_1.htm) |

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|:---|:---|
| 21.1 | [Subsidiaries of the Company.\*\*](ex211_1.htm) |
| 23.1 | [Consent of Tanner LLP.\*\*](ex231_2.htm) |
| 31.1 | [Rule 13a-14(a)/15d-14(a) Certification.\*\*](ex311_3.htm) |
| 32.1 | [Certification Pursuant to 18 U.S.C. Section 1350. \*\*](ex321_5.htm) |
| 31.2 | [Rule 13a-14(a)/15d-14(a) Certification.\*\*](ex312_4.htm) |
| 32.2 | [Certification Pursuant to 18 U.S.C. Section 1350. \*\*](ex322_6.htm) |
| 101.INS | XBRL Instance. \*\* |
| 101.SCH | XBRL Taxonomy Extension Schema. \*\* |
| 101.CAL | XBRL Taxonomy Extension Calculation. \*\* |
| 101.DEF | XBRL Taxonomy Extension Definition. \*\* |
| 101.LAB | XBRL Taxonomy Extension Label. \*\* |
| 101.PRE | XBRL Taxonomy Extension Presentation \*\* |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).\*\* |

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\* Management contract or compensatory plan, contract or agreement as defined in Item 402(a)(3) of Regulation S-K

\*\* Filed herewith.

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|:---|:---|
| **Item 16.** | [**Form 10-K Summary.**](#TOC) |

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None.

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[**SIGNATURES**](#TOC)

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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|:---|:---|:---|
|  | **TWINLAB CONSOLIDATED HOLDINGS, INC.** | **TWINLAB CONSOLIDATED HOLDINGS, INC.** |
| Date: March 3, 2026 | By: | /s/ Anthony Zolezzi |
|  |  | Anthony Zolezzi |
|  |  | Chief Executive Officer and Chairman of the Board |

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Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

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| | | |
|:---|:---|:---|
| SIGNATURES | TITLE | DATE |
| /s/ Anthony Zolezzi | Chief Executive Office | March 3, 2026 |
| Anthony Zolezzi | (Chairman of the Board of Directors, Principal Executive Officer) |  |
| /s/ Kyle Casey | Chief Financial Officer |  |
| Kyle Casey | (Principal Financial Officer) | March 3, 2026 |

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[**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**](#TOC)

**To the Board of Directors and Stockholders of Twinlab Consolidated Holdings, Inc.**

**Opinion on the Consolidated Financial Statements**

We have audited the accompanying consolidated balance sheets of Twinlab Consolidated Holdings, Inc. and subsidiaries (collectively, the Company) as of December 31, 2024 and 2023, the related consolidated statements of operations, stockholders' deficit, and cash flows for each of the years in the two-year period ended December 31, 2024 and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the consolidated financial position of the Company as of December 31, 2024 and 2023, the consolidated results of their operations and their cash flows for each of the years in the two-year period ended December 31, 2024, in conformity with U.S. generally accepted accounting principles.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1, the Company has negative working capital, has incurred operating losses, and has accumulated a large deficit. These conditions, among others, raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 1. The financial statements do not include any adjustments that might result from the outcome of this uncertainty

**Basis for Opinion**

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting; however, we do not express an opinion on the effectiveness of the Company's internal control over financial reporting.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

**Critical Audit Matter**

The critical audit matter communicated below is a matter arising from the current period audit of the financial statements that was communicated or required to be communicated to the audit committee and that: (1) relates to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of the critical audit matter does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

**Carve-Out and Presentation of Discontinued Operations**

*Critical Audit Matter Description*

The carve-out and presentation of discontinued operations related to NutraScience Labs, Inc. ("NutraScience") was a critical audit matter. Although NutraScience had been previously classified as discontinued operations, the 2024 financial statements required management to continue to identify, allocate, and present revenues, expenses, assets, liabilities, and cash flows attributable to the discontinued operations separately from continuing operations.

Auditing the carve-out and presentation of discontinued operations involved especially challenging auditor judgment due to the complexity of the allocation methodologies applied and the reliance on management judgments and estimates to ensure that amounts attributable to discontinued operations were complete, accurate, and appropriately classified. These judgments increased the risk of material misstatement and required a high degree of audit effort to evaluate the appropriateness of the presentation and related disclosures.

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*How the Critical Audit Matter Was Addressed in the Audit*

Our audit procedures related to the Company's determination and carve out of discontinued operations for the NutraScience Labs, Inc. included the following, among others:

* We evaluated management's accounting policies related to discontinued operations andassessed their application to the 2024 financial statements.

* We tested the completeness and accuracy of amounts allocated to discontinued operations by evaluating the methodologies used by management to carve out revenues, expenses, assets, liabilities, and cash flows, including testing underlying data and assumptions.

* We performed substantive procedures on selected allocations, including examining supporting documentation and assessing whether the allocations were consistent with the Company's accounting policies and the nature of the underlying transactions.

* We assessed the consistency of the presentation of discontinued operations across the consolidated financial statements and evaluated the related disclosures for completeness and accuracy.

/s/ Tanner LLP

Lehi, Utah

March 3, 2026

We have served as the Company's auditors since 2014.

(PCAOB ID 270)

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| |
|:---|
| **TWINLAB CONSOLIDATED HOLDINGS, INC.**  |
| [**CONSOLIDATED BALANCE SHEETS**](#TOC) |
| **(AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)**  |

---

---

| | | |
|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2023** |
| **ASSETS**  |  |  |
| Current assets:  |  |  |
| &nbsp;&nbsp;&nbsp; Cash  | $69 | $19 |
| &nbsp;&nbsp;&nbsp; Accounts receivable, net  | 2026  | 2072  |
| &nbsp;&nbsp;&nbsp; Inventories, net  | 2450  | 3402  |
| &nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets  | 91  | 194  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current assets  | 4636 | 5687 |
| Property and equipment, net  | 3  | 9  |
| Right-of-use assets  | -  | 1889 |
| Intangible assets, net  | 120 | 120  |
| Other assets  | 1264  | 1290  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total assets  | $6023 | $8995  |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT**  |  |  |
| Current liabilities:  |  |  |
| &nbsp;&nbsp;&nbsp; Accounts payable  | $2146  | $2080  |
| &nbsp;&nbsp;&nbsp; Lease liabilities  | 2885  | 946 |
| &nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities  | 2024  | 2052  |
| &nbsp;&nbsp;&nbsp; Accrued interest  | 46466  | 39851  |
| &nbsp;&nbsp;&nbsp; Notes payable and current portion of long-term debt, net  | 93908  | 93637  |
| &nbsp;&nbsp;&nbsp; Current liabilities of discontinued operations  | 7077 | 7257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total current liabilities  | 154506  | 145823  |
| Long-term liabilities:  |  |  |
| &nbsp;&nbsp;&nbsp; Lease liabilities  | 42  | 2197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total long-term liabilities  | 42 | 2197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities  | 154548  | 148020  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Commitments and contingencies (see Note 10)  |  |  |
| Stockholders' deficit:  |  |  |
| &nbsp;&nbsp;&nbsp; Preferred stock, $0.001 par value, 500,000,000 shares authorized, no shares issued and outstanding  | - | - |
| &nbsp;&nbsp;&nbsp; Common stock, $0.001 par value, 5,000,000,000 shares authorized, 393,898,884 and 393,898,884 shares issued, respectively  | 394  | 394  |
| &nbsp;&nbsp;&nbsp; Additional paid-in capital  | 231249  | 231249  |
| &nbsp;&nbsp;&nbsp; Stock subscriptions receivable  | (30 ) | (30 ) |
| &nbsp;&nbsp;&nbsp; Treasury stock, 134,806,051 shares at cost  | (500 ) | (500 ) |
| &nbsp;&nbsp;&nbsp; Accumulated deficit  | (379637 ) | (370138 ) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total stockholders' deficit  | (148524 ) | (139025 ) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total liabilities and stockholders' deficit  | $6024 | $8995  |

---

*The accompanying notes are an integral part of the consolidated financial statements.*

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| |
|:---|
| **TWINLAB CONSOLIDATED HOLDINGS, INC.**  |
| [**CONSOLIDATED STATEMENTS OF OPERATIONS**](#TOC) |
| **(AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)**  |

---

---

| | | |
|:---|:---|:---|
|  | **For the Years Ended December 31,**  | **For the Years Ended December 31,**  |
|  | **2024** | **2023** |
| Net sales  | $11665  | $13617  |
| Cost of sales  | 7740  | 8605  |
| &nbsp;&nbsp;&nbsp; Gross profit  | 3925 | 5012 |
| Operating costs and expenses:  |  |  |
| &nbsp;&nbsp;&nbsp; Selling expenses  | 459  | 1161  |
| &nbsp;&nbsp;&nbsp; General and administrative expenses  | 5242  | 5240  |
| Loss from operations  | (1776) | (1389) |
| Other income (expense):  |  |  |
| &nbsp;&nbsp;&nbsp; Interest expense, net  | (7996) | (8271 ) |
| &nbsp;&nbsp;&nbsp; Other income, net  | 8 | 41 |
| &nbsp;&nbsp;&nbsp; Total other expense  | (7988) | (8230 ) |
| Loss before income taxes  | (9764) | (9619 ) |
| Provision for income taxes  | (43) | (43 ) |
| Net loss from continuing operations | (9807) | (9662) |
| Net income (loss) from discontinued operations, net of income taxes | 308 | (4052) |
| &nbsp;&nbsp;&nbsp; Total net loss  | $(9499) | $(13714 ) |
| Net loss from continuing operation per share of common stock |  |  |
| Basic earning per share | (0.03) | (0.04) |
| Diluted earning per share | (0.03) | (0.04) |
| Net loss from discontinuing operation per share of common stock |  |  |
| Basic earning per share | (0.01) | (0.01) |
| Diluted earning per share | (0.01) | (0.01) |
| Weighted average number of common shares outstanding - basic  | 259092833  | 259092833  |
| Net loss per common share - basic  | $(0.04) | $(0.05 ) |
| Weighted average number of common shares outstanding - diluted  | 259092833  | 259092833  |
| Net loss per common share - diluted (See Note 2)  | $(0.04) | $(0.05 ) |

---

*The accompanying notes are an integral part of the consolidated financial statements.*

------

---

| |
|:---|
| **TWINLAB CONSOLIDATED HOLDINGS, INC.**  |
| [**CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT**](#TOC) |
| **(AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)**  |
| **FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock**  | **Common Stock**  | **Additional Paid-in**  | **Stock Subscriptions**  | **Treasury Stock**  | **Treasury Stock**  | **Accumulated**  |  |
|  | **Shares**  | **Amount**  | **Capital**  | **Receivable**  | **Shares**  | **Amount**  | **Deficit**  | **Total**  |
| **Balance, December 31, 2022**  | 393898884  | $394  | $231249  | $(30 ) | 134806051  | $(500 ) | $(356424 ) | $(125311 ) |
| Net loss  | - | - | - | - | - | - | (13714) | (13714) |
| **Balance, December 31, 2023**  | 393898884  | 394  | 231249  | (30 ) | 134806051  | (500 ) | (370138 ) | (139025 ) |
| Net loss  | - | - | - | - | - | - | (9499) | (9499) |
| **Balance, December 31, 2024**  | 393898884  | $394  | $231249  | $(30 ) | 134806051  | $(500 ) | $(379637 ) | $(148524 ) |

---

*The accompanying notes are an integral part of the consolidated financial statements.*

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---

| |
|:---|
| **TWINLAB CONSOLIDATED HOLDINGS, INC.**  |
| [**CONSOLIDATED STATEMENTS OF CASH FLOWS**](#TOC) |
| **(AMOUNTS IN THOUSANDS)**  |

---

---

| | | |
|:---|:---|:---|
|  | **For the Years Ended December 31,**  | **For the Years Ended December 31,**  |
|  | **2024** | **2023** |
| Cash flows from operating activities:  |  |  |
| &nbsp;&nbsp;&nbsp; Net loss  | $(9499) | $(13714 ) |
| &nbsp;&nbsp;&nbsp; Net (income) loss from discontinued operations  | (308) | 4052 |
| &nbsp;&nbsp;&nbsp; Net loss from continuing operations  | (9807) | (9662) |
| &nbsp;&nbsp;&nbsp; Adjustments to reconcile net loss to net cash provided by (used in) provided by operating activities  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Depreciation and amortization  | 9  | 35  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization of right-to-use assets  | 499  | 623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Recovery of obsolete inventories  | (19) | (144) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Provision for losses on accounts receivable  | (492) | (350) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Loss on write down of right-of-use assets | 1389 | 492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other non-cash items  | - | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Changes in operating assets and liabilities:  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts receivable  | 377 | (344) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inventories  | 971 | 3605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid expenses and other current assets  | 392  | 3002  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other assets  | - | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accounts payable  | 37 | (406) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lease liability payments | 518 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Lease liabilities due  | (734) | (850) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accrued expenses and other current liabilities  | 6587  | 6931  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash provided by (used in) continuing operations  | (273) | 2899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net cash used in discontinued operations  |  | (2) |
| Net cash provided by (used in) operating activities  | (273) | 2897 |
| Cash flows from investing activities:  |  |  |
| &nbsp;&nbsp;&nbsp; Purchase of property and equipment  | (2) | -  |
| &nbsp;&nbsp;&nbsp; Net cash used in continuing operations  | (2) |  |
| &nbsp;&nbsp;&nbsp; Net cash used in discontinued operations  |  |  |
| Net cash used in investing operation  | (2) |  |
| Cash flows from financing activities:  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net proceeds from the issuance of debt | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14975 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issuance of debt interest payable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;892 |  |
| &nbsp;&nbsp;&nbsp; Repayment of debt  | (14884) | (144) |
| &nbsp;&nbsp;&nbsp; Net repayment on revolving credit facility  | (714) | (3600) |
| &nbsp;&nbsp;&nbsp; Net cash provided by (used in) continuing operations  | 269 | (3744) |
| Net cash used in discontinued operations  |  |  |
| Net cash provided by (used in) financing activities  | 269 | (3744) |
| Net decrease in cash  | (6) | (847) |
| Cash at the beginning of the year  | 19 | 866  |
| Cash at the end of the year  | $13 | $19 |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:  |  |  |
| &nbsp;&nbsp;&nbsp; Cash paid for interest  | $1461  | $1852  |
| SUPPLEMENTAL SCHEDULE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Acquisition of operating lease | $58 | $- |

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*The accompanying notes are an integral part of the consolidated financial statements.* 

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**TWINLAB CONSOLIDATED HOLDINGS, INC.**

[**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**](#TOC)

**(AMOUNTS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)**

#### Note 1 - Nature of Business
Organization

Twinlab Consolidated Holdings, Inc. (the "Company", "Twinlab," "we," "our" and "us") was incorporated on October 24, 2013 under the laws of the State of Nevada as Mirror Me, Inc. On August 7, 2014, we amended our articles of incorporation and changed our name to Twinlab Consolidated Holdings, Inc.

Nature of Operations

We are an integrated marketer, distributor and retailer of branded nutritional supplements and other natural products sold to and through domestic health and natural food stores, mass market retailers, specialty store retailers, on-line retailers and websites. Internationally, we market and distribute branded nutritional supplements and other natural products to and through health and natural product distributors and retailers.

Our products include vitamins, minerals, specialty supplements and sports nutrition products sold under the Twinlab® brand name, a market leader in the healthy aging and beauty from within categories sold under the Reserveage Nutrition and ResVitale® brand names; diet and energy products sold under the Metabolife® brand name; and a full line of herbal teas sold under the Alvita® brand name. To accommodate consumer preferences, our products come in various formulations and delivery forms, including capsules, tablets, softgels, chewables, liquids, sprays and powders. These products are sold primarily through health and natural food stores and on-line retailers, supermarkets, and mass-market retailers.

Going Concern

The accompanying consolidated financial statements have been prepared on a going concern basis, which assumes continuity of operations and realization of assets and liabilities in the ordinary course of business. In most periods since our formation, we have generated losses from operations. At December 31, 2024, we had an accumulated deficit of $379,637. Historical losses are primarily attributable to lower than planned sales resulting from low fill rates on demand due to limitations of our working capital, delayed product introductions and postponed marketing activities, merger-related and other restructuring costs, and interest and refinancing charges associated with our debt refinancing, and impairment of our goodwill and intangible assets. Losses have been funded primarily through issuance of common stock and third-party or related party debt.

The Company is currently a defendant in litigation described in Note 13. The plaintiff seeks damages of $963,363, which significantly exceeds the Company's available liquidity. The potential exposure from the litigation, if resolved unfavorably, could materially exceed the Company's available financial resources. These conditions raise substantial doubt about the Company's ability to continue as a going concern within one year after the date these financial statements are issued. Management is evaluating various strategic alternatives, including settlement negotiations, additional capital raising, refinancing arrangements, and other restructuring options. There can be no assurance that these efforts will be successful. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Management is addressing operating issues through the following actions: focusing on growing the highest grossing products and brands, reducing remaining operating costs, exploring bankruptcy options, and continuing to negotiate lower prices from major suppliers. We believe that we will need additional capital to execute our business plan. If additional funding is required, there can be no assurance that sources of funding will be available when needed on acceptable terms or at all.

Wind-Down Activities and Asset Abandonments

In response to ongoing liquidity constraints, recurring operating losses, and the Company's inability to access sufficient capital to support historical operating levels, management has undertaken actions to wind down certain operations and reduce the Company's cost structure. These actions have included the cessation of operations of NutraScience Labs, Inc. ("NSL"), the abandonment or forfeiture of leased facilities, workforce reductions, and the elimination of certain operating activities that were no longer economically viable.

During 2023, the Company ceased operations associated with NSL. As part of this cessation, assets associated with NSL were determined to have minimal or no remaining economic value to the Company and were disposed of through abandonment. The operating results of NSL have been presented as discontinued operations in the accompanying consolidated financial statements. Assets and liabilities associated with discontinued operations are separately classified on the consolidated balance sheets as of December 31, 2024 and 2023.

------

In addition, during 2024 and subsequent to year-end, the Company surrendered or forfeited multiple leased office facilities as it no longer had the ability or intent to continue occupying those locations. As a result, the Company recorded charges related to the impairment of right-of-use assets and continues to reflect remaining lease liabilities on the consolidated balance sheets. Certain of these lease obligations are in default, and the Company is subject to claims by landlords for unpaid rent and related costs, as further described in Note 13.

The carrying amounts of assets subject to abandonment or impairment were evaluated based on their estimated recoverability, taking into consideration the Company's decision to cease or significantly curtail related operations, the absence of alternative uses, and the Company's current financial condition. No amounts have been capitalized in anticipation of future operating recoveries or restructuring outcomes.

These wind-down actions reflect management's efforts to reduce ongoing cash outflows and preserve liquidity; however, the Company continues to have significant obligations, including lease liabilities, accrued interest, and debt obligations that are classified as current due to existing defaults. The Company's ability to satisfy these obligations is subject to significant uncertainty. These conditions, together with the matters described above and elsewhere in these financial statements, raise substantial doubt about the Company's ability to continue as a going concern.

#### Note 2 – Summary of Significant Accounting Policies
The following is a summary of significant accounting policies followed in the preparation of these consolidated financial statements*.* 

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and its subsidiaries. All intercompany transactions and balances have been eliminated in consolidation.

*Revised Prior Period Financial Statements*

During the period close for the three months ended March 31, 2024, the Company discovered certain errors related to its accounting policy for the accounting of discontinued operations. The balance sheet did not segregate assets and liabilities for discontinued operations for a subsidiary of the Company on our September 30, 2023 and December 31, 2023 balance sheets that were previously filed. This lack of segregation on the balance sheet did not impact the statements of operations or stockholders' deficit.

The Company has determined that the impact of this balance sheet reclassification is not material to these previously issued balance sheets and as such no restatement was necessary. Correcting prior year financial statements for immaterial errors would not require previously filed reports to be amended. Such a correction may be made the next time the registrant files the prior year financial statements. Correcting the cumulative error in the current year would also be immaterial to the current year. Accordingly, these misstatements were corrected, and the adjustments are reflected in the related periods as noted below. The reclassifications made to the December 31, 2023 balance sheets are summarized below.

Consolidated Balance Sheets:

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| | | | |
|:---|:---|:---|:---|
|  | **As of December 31, 2023**  | **As of December 31, 2023**  | **As of December 31, 2023**  |
|  | **Previously Reported** | **Adjustments**  | **Revised**  |
| Accounts receivable  | $2072  | $(161 ) | $1911  |
| Current assets of discontinued operations  | -  | 161  | 161  |
| Accounts payable  | 6803  | (4723 ) | 2080  |
| Accrued expenses and other current liabilities  | 4106  | (2054 ) | 2052  |
| Short term lease liabilities  | 1426  | (480 ) | 946  |
| Current liabilities of discontinued operations  | -  | 7257  | 7257 |

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Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from those estimates. Significant management estimates include those with respect to returns and allowances, allowance for credit losses, reserves for inventory obsolescence, the recoverability of long-lived assets, intangibles and goodwill.

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*Revenue Recognition*

The Company recognizes revenue based on a five-step model in accordance with Accounting Standards Codification ("ASC") 606. For our customer contracts, (i) we identify the contract with a customer, (ii) we identify the performance obligations in the contract, (iii) we determine the transaction price, (iv) we allocate the transaction price to the performance obligation; and (v) we recognize revenue when we satisfy the performance obligation. Our revenues are recorded at a point in time when the performance is fulfilled, which is when the product is shipped to or received by the customer.

Product sales are recorded net of variable considerations, such as provisions for returns, discounts and allowances. We account for shipping and handling costs as costs to fulfill a contract and not as performance obligations to our customers.

Contract Liabilities

Our contract liabilities consist of customer deposits and contractual guaranteed returns.

Net contract liabilities are recorded in accrued expenses and other current liabilities and consisted of the following:

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| | | |
|:---|:---|:---|
| *Contract Liabilities*  |  |  |
|  | December 31, 2024 | December 31, 2023 |
| Contract Liabilities - Customer Deposits  | $2290  | $2022  |
| Contract Liabilities - Guaranteed Returns  | 127  | 127  |
|  | $2417  | $2149  |

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Fair Value of Financial Instruments

We apply the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

Level 1 – inputs are quoted prices in active markets for identical assets that the reporting entity has the ability to access at the measurement date.

Level 2 – inputs are other than quoted prices included within Level 1 that are observable for the asset, either directly or indirectly.

Level 3 – inputs are unobservable inputs for the asset that are supported by little or no market activity and that are significant to the fair value of the underlying asset or liability.

The Company did not have any financial instruments that are measured at fair value on a recurring basis as of December 31, 2024 and 2023.

Accounts Receivable and Allowances

Our allowance for trade receivables consists of two components: an allowance for customer claims and an allowance for credit losses.

We estimate expected credit losses on our trade receivables in accordance with Accounting Standards Codification (*"*ASC*"*) 326 - *Financial Instruments - Credit Losses*. We adopted this accounting standard prospectively on the first day of our 2023 fiscal year.

We measure the allowance for credit losses on trade receivables on a collective (pool) basis when similar risk characteristics exist. We pool our trade receivables by type, wholesalers and retailers. Our historical credit loss experience provides the basis for our estimation of expected credit losses. We use a two-year average of annual loss rates as a starting point for our estimation and make adjustments to the historical loss rates to account for differences in current conditions impacting the collectability of our receivable pools. We generally monitor macroeconomic indicators to assess whether adjustments are necessary to reflect current conditions.

We grant credit to customers and generally do not require collateral or other security. We perform credit evaluations of our customers and provide for expected claims related to promotional items, customer discounts, shipping shortages, damages, and credit losses based upon historical bad debt and claims experience. As of December 31, 2024, total allowances amount to $371, of which $147 related to credit losses on accounts receivable. As of December 31, 2023, total allowances amounted to $862, of which $175 was related to credit losses on accounts receivable.

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Inventories

Inventories are stated at the lower of cost or net realizable value and are reduced by an estimated reserve for obsolete inventory.

Property and Equipment

Property and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation, including amounts amortized under capital leases, is calculated on the straight-line method over the estimated useful lives of the related assets, which are 7 to 10 years for machinery and equipment, 8 years for furniture and fixtures and 3 years for computers. Leasehold improvements are amortized over the shorter of the useful life of the asset or the term of the lease.

Normal repairs and maintenance are expensed as incurred. When assets are retired or otherwise disposed of, the related cost and accumulated depreciation or amortization is removed from the accounts and any gain or loss is included in the results of operations.

*Discontinued operations*

We report financial results for discontinued operations separately from continuing operations to distinguish the financial impact of disposal transactions from ongoing operations. Discontinued operations reporting occurs only when the disposal meets the criteria for classification as a discontinued operation in accordance with ASC Subtopic 205-20, Discontinued Operations ("ASC 205-20"). In our consolidated statements of cash flows, the cash flow from discontinued operations are separately classified/reported. Unless indicated otherwise, the information in the Notes to the consolidated financial statements relate to continuing operations (See Note 8, Discontinued Operations).

Leases

The Company accounts for leases in accordance with ASC 842. The Company reviews all contracts and determines if the arrangement is or contains a lease, at inception. Operating leases are included in right-of-use ("ROU") assets, current lease liabilities and long-term lease liabilities on the condensed consolidated balance sheets. The Company does not have any finance leases.

Operating lease ROU assets represent the Company's right to use an underlying asset for the lease term and lease liabilities represent the Company's obligation to make lease payments arising from the lease. ROU assets and lease liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. The Company uses its estimated incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The operating lease ROU asset also includes any upfront lease payments made and excludes lease incentives and initial direct costs incurred. The Company's lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with a term of 12 months or less are not recorded on the balance sheet. The Company's lease agreements do not contain any residual value guarantees.

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Intangible Assets

Intangible assets consist primarily of trademarks, which are amortized on a straight-line basis over their indefinite useful lives. The valuation and classification of these assets and the assignment of amortizable lives involve significant judgment and the use of estimates.

We believe that our long-term growth strategy supports our fair value conclusions. For intangible assets, the recoverability of these amounts is dependent upon achievement of our projections and the execution of key initiatives related to revenue growth and improved profitability.

Goodwill

Goodwill is not subject to amortization, but is reviewed for impairment annually, or more frequently whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. An impairment charge would be recorded to the extent the carrying value of goodwill exceeds its estimated fair value. The testing of goodwill under established guidelines for impairment requires significant use of judgment and assumptions. Changes in forecasted operations and other assumptions could materially affect the estimated fair values. Changes in business conditions could potentially require adjustments to these asset valuations. (See Note 5 for further discussion on the goodwill and intangible assets impairment charges).

Impairment of Long-Lived Assets

Long-lived assets, including intangible assets subject to amortization, are reviewed for impairment when changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If the carrying amount of the asset exceeds the expected undiscounted cash flows of the asset, an impairment charge is recognized equal to the amount by which the carrying amount exceeds fair value. The testing of these intangibles under established guidelines for impairment requires significant use of judgment and assumptions. Changes in forecasted operations and other assumptions could materially affect the estimated fair values. Changes in business conditions could potentially require adjustments to these asset valuations. (See Note 5 for further discussion on the goodwill and intangible assets impairment charges).

Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets relating to the asset acquisition of Organic Holdings, LLC ("Organic Holdings"), a market leader in the healthy aging and beauty from within categories and owner of the award-winning Reserveage™ Nutrition brand, are determined to have an indefinite useful economic life and as such are not amortized. Due to the size of our remaining indefinite-lived intangible assets, annual testing for impairment was performed and no impairment was recorded in the years ended December 31, 2024 and 2023 respectively (see Note 5 for further information on the goodwill and intangible assets impairment charges).

Shipping and Handling Costs

Shipping and handling fees when billed to customers are included as a component of net sales. The total costs associated with shipping and handling are included as a component of cost of sales and totaled $458 and $266 in 2024 and 2023, respectively.

Advertising and Promotion Costs

We advertise our branded products through national and regional media and through cooperative advertising programs with customers. Costs for cooperative advertising programs are expensed as earned by customers and recorded in selling, general and administrative expenses. Our advertising expenses were $69 and $802 in 2024 and 2023, respectively. Customers are also offered in-store promotional allowances and certain products are also promoted with direct to consumer rebate programs. Costs for these promotional programs are recorded as incurred as a reduction to net sales.

Research and Development Costs

Research and development costs are expensed as incurred. We did not incur research and development costs in 2024 or in 2023.

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Income Taxes

We use the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income tax assets and liabilities are recognized for the future income tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases and operating loss and income tax credit carry-forwards. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred income tax assets and liabilities of a change in income tax rates is recognized in the period that includes the enactment date.

Value of Warrants Issued with Debt

We estimate the grant date fair value of certain warrants issued with debt using a valuation method, such as the Black-Scholes option pricing model, or, if the terms are more complex, using an outside professional valuation firm, which uses the Monte Carlo option lattice model. We record the amounts as interest expense or debt discount, depending on the terms of the agreement. These estimates involve multiple inputs and assumptions, including the market price of the Company's common stock, stock price volatility and other assumptions to project earnings before interest, taxes, depreciation and amortization ("EBITDA") and other reset events. These inputs and assumptions are subject to management's judgment and can vary materially from period to period.

Net Income (Loss) per Common Share

Basic net income (loss) per common share ("Basic EPS") is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted net income (loss) per common share ("Diluted EPS") is computed by dividing net income (loss) by the sum of the weighted average number of common shares outstanding and the dilutive potential common shares then outstanding. Potential dilutive common share equivalents consist of total shares issuable upon the exercise of outstanding stock options and warrants to acquire common stock using the treasury stock method and the average market price per share during the period.

When calculating diluted income (loss) per share, if the effects are dilutive, companies are required to add back to net income the effects of the change in derivative liabilities related to warrants. Additionally, if the effects of the change in derivative liabilities are added back to net income, companies are required to include the warrants outstanding related to the derivative liability in the calculation of the weighted average dilutive shares.

The common shares used in the computation of our basic and diluted net loss per share are reconciled as follows:

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| | | |
|:---|:---|:---|
|  | **For the Years Ended December 31,**  | **For the Years Ended December 31,**  |
|  | 2024 | 2023 |
| **Numerator:**  | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net loss from continuing operations  | (9807) | (9662) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net income (loss) from discontinued operations, net of income taxes  | 308 | (4052) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net loss  | $(9499) | $(13714 ) |
| **Denominator:**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Weighted-average number of common shares - Basic | 259092833  | 259092833  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Weighted-average number of common shares - Diluted  | 259092833  | 259092833  |
| **Net loss per common share:**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Basic EPS  | $(0.04) | $(0.05 ) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Diluted EPS  | $(0.04) | $(0.05 ) |

---

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Significant Concentration of Credit Risk

The Company maintains its cash in bank deposit accounts which, at times, exceed federally insured limits. To date, the Company has not experienced a loss or lack of access to its invested cash; however, no assurance can be provided that access to the Company's invested cash will not be impacted by adverse conditions in the financial markets.

Sales to our top three customers aggregated to approximately 53% and 32% of total consolidated sales in 2024 and 2023, respectively. Sales to one of those customers were approximately 24% and 15% of total sales in 2024 and 2023, respectively. Accounts receivable from these customers were approximately 62% and 42% of total accounts receivable as of December 31, 2024 and 2023, respectively.

Our two major vendors accounted for 32% and 18% of purchases for the year ended December 31, 2024 and 2023, respectively. A third vendor represented an additional 10% and 8% of purchases for the years ended December 31, 2024 and 2023, respectively.

A single customer represents 0% and 3% of total accounts receivable as of December 31, 2024 and December 31, 2023, respectively. This customer is a related party through a director who sat on both the Company's board of directors and that of the customer. The relationship with the customer ended in 2023.

Accounting Pronouncements - Adopted

In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which enhances reporting requirements under Topic 280. The enhanced disclosure requirements include: title and position of the Chief Operating Decision Maker (CODM), significant segment expenses provided to the CODM, extending certain annual disclosures to interim periods, clarifying single reportable segment entities must apply ASC 280 in its entirety, and permitting more than one measure of segment profit or loss to be reported under certain circumstances. This change is effective for fiscal years beginning after December 15, 2023 and interim periods beginning after December 15, 2024. This change will apply retrospectively to all periods presented. Management is currently assessing the impact of the adoption of this ASU on the financial statements of the Company.

*Accounting Pronouncements Issued Not Yet Adopted*

Although there are several other new accounting pronouncements issued or proposed by the FASB, which we have adopted or will adopt, as applicable, we do not believe any of these accounting pronouncements have had or will have a material impact on our consolidated financial position or results of operations.

#### Note 3 – Inventories, net
Inventories, net consisted of the following from continuing operations:

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| | | |
|:---|:---|:---|
|  | December 31, 2024 | December 31, 2023 |
| Raw materials  | $44  | $119 |
| Finished goods  | 2466  | 3362  |
|  | 2510  | 3481  |
| Reserve for obsolete inventory  | (60) | (79 ) |
| Inventories, net  | $2450  | $3402  |

---

There were no inventories from discontinued operations as of December 31, 2024 and December 31, 2023.

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#### Note 4 – Property and Equipment, Net
Property and equipment, net consisted of the following from continuing operations:

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| | | |
|:---|:---|:---|
|  | December 31, 2024 | December 31, 2023 |
| Computers and other  | 57  | 54  |
|  | 57  | 54  |
| Accumulated depreciation and amortization  | (54) | (45 ) |
| Property and equipment, net  | $3  | $9  |

---

Depreciation and amortization expense totaled $9 and $38 in 2024 and 2023, respectively.

There was no property and equipment, or associated depreciation and amortization, from discontinued operations as of December 31, 2024 and December 31, 2023.

#### Note 5 – Intangible Assets
Intangible assets consisted of the following:

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| | | |
|:---|:---|:---|
|  | December 31, 2024 | December 31, 2023 |
| Trademarks  | $4739  | $4739  |
| Indefinite-lived intangible assets  | 120  | 120  |
| Customer relationships  | 6023  | 6023  |
|  | 10882  | 10882  |
| Accumulated amortization  | (10762) | (10762 ) |
| Intangible assets, net  | $120 | $120  |

---

Trademarks are amortized over periods ranging from 3 to 30 years, customer relationships are amortized over periods ranging from 15 to 16 years, and other intangible assets are amortized over 3 years. Amortization expense was $0 and $0 for 2024 and 2023, respectively. All intangible assets have been fully amortized as of December 31, 2024.

During the fourth quarter of fiscal 2022 we recorded an aggregate impairment loss of the remaining definitive-lived intangible assets related to NSL customer relationships. Therefore, we recorded no loss of intangible assets related to NSL customer relationships in 2024.

Due to the nature and size of our remaining assets, annual impairment testing was not performed in 2023 or 2024 nor was an impairment loss recognized.

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#### Note 6 – Debt
Debt consisted of the following:

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| | | |
|:---|:---|:---|
|  | December 31, | December 31, |
|  | 2024 | 2023 |
| Related Party Debt:  |  |  |
| &nbsp;&nbsp;&nbsp; July 2014 note payable to Akretive, LLC, formerly payable to Little Harbor, LLC  | $3267  | $3267  |
| &nbsp;&nbsp;&nbsp; July 2016 note payable to Akretive, LLC, formerly payable to Little Harbor, LLC  | 4770  | 4770  |
| &nbsp;&nbsp;&nbsp; January 2016 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 2500  | 2500  |
| &nbsp;&nbsp;&nbsp; March 2016 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 7000  | 7000  |
| &nbsp;&nbsp;&nbsp; December 2016 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 2500  | 2500  |
| &nbsp;&nbsp;&nbsp; August 2017 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 3000  | 3000  |
| &nbsp;&nbsp;&nbsp; February 2018 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 2000  | 2000  |
| &nbsp;&nbsp;&nbsp; July 2018 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 5000  | 5000  |
| &nbsp;&nbsp;&nbsp; November 2018 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 4000  | 4000  |
| &nbsp;&nbsp;&nbsp; February 2020 note payable to Akretive, LLC, formerly payable to Great Harbor Capital, LLC  | 2500  | 2500 |
| &nbsp;&nbsp;&nbsp; January 2016 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC<br>| 2500  | 2500  |
| &nbsp;&nbsp;&nbsp; March 2016 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 7000  | 7000  |
| &nbsp;&nbsp;&nbsp; July 2016 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 4770  | 4770  |
| &nbsp;&nbsp;&nbsp; December 2016 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 2500  | 2500  |
| &nbsp;&nbsp;&nbsp; March 2017 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 3267  | 3267  |
| &nbsp;&nbsp;&nbsp; February 2018 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 2000  | 2000  |
| &nbsp;&nbsp;&nbsp; February 2020 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 2500  | 2500 |
| &nbsp;&nbsp;&nbsp; November 2014 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 8000  | 8000  |
| &nbsp;&nbsp;&nbsp; January 2015 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 5000  | 5000  |
| &nbsp;&nbsp;&nbsp; February 2015 note payable to Akretive, LLC, formerly payable to Golisano Holdings, LLC | 1999  | 1999  |
| &nbsp;&nbsp;&nbsp; Akretive, LLC, formerly payable to Macatawa Bank  | 15869  | 14884  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total related party debt  | 91942  | 90957  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Senior Credit Facility with Midcap  | 1966  | 2680  |
| Total debt  | 93908  | 93637  |
| Less current portion  | 93908  | 93637  |
| Long-term debt  | $-  | $- |

---

Future aggregate maturities of debt that have maturities beyond 2024 have been classified as current on the consolidated balance sheet as the Company has determined that it is probable that the Company will not be able to meet the 2024 debt obligations as they become due, thus causing a technical default of the debt obligations.

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Little Harbor LLC

Mr. David L. Van Andel, the former Chairman of the Company's Board of Directors, is the owner and principal of Little Harbor LLC. Mr. Mark Bugge, at the time the notes were entered into, was a member of the Company's Board of Directors and the Secretary of Little Harbor LLC.

July 2014 Note Payable to Akretive LLC (formerly Little Harbor, LLC)

Pursuant to a July 2014 Debt Repayment Agreement with Little Harbor, LLC ("Little Harbor"), an entity owned by certain stockholders of the Company, on February 6, 2018 we entered into an agreement with Little Harbor to convert a debt repayment obligation of $3,267 into an unsecured promissory note ("Little Harbor Debt Repayment Note"). The note bears interest at an annual rate of 8.5% with the principal payable at maturity. The Little Harbor Debt Repayment Note was scheduled to mature on July 25, 2020, and the maturity was subsequently extended to October 22, 2021.

July 2016 Note Payable to Akretive *LLC (formerly Little Harbor, LLC)*

In July 2016, we issued an unsecured delayed draw promissory note in favor of Little Harbor ("Little Harbor Delayed Draw Note"), pursuant to which Little Harbor loaned us the full approved amount of $4,770 during the year ended December 31, 2016. This note bears interest at an annual rate of 8.5% with the principal payable at maturity. We issued a warrant into escrow in connection with this loan (see Little Harbor Escrow Warrant in Note 7). This note is unsecured and was scheduled to mature on January 28, 2019, with subsequent extensions of the maturity date to June 30, 2019 and October 22, 2021.

Little Harbor has delivered a deferment letter pursuant to which Little Harbor agreed to defer all payments due under the aforementioned notes held by Little Harbor through October 22, 2021 and agreed to refrain from declaring a default and/or exercising any remedies under the notes.

Amendments to extend the maturity date and related payment deferrals of the aforementioned notes have not been executed and these notes are currently in default. We anticipate extending the maturity dates and related payment deferrals with the lending party, but we cannot guarantee that such extensions and payment deferrals will be successfully obtained on a timely basis or at all. To date, the lending party has not exercised any of its remedies available upon a default for any of the aforementioned notes.

Great Harbor Capital LLC

Mr. David L. Van Andel, the former Chairman of the Company's Board of Directors, is the owner and principal of Great Harbor Capital LLC. Mr. Mark Bugge, at the time the notes were entered into, was a member of the Company's Board of Directors and the Secretary of Great Harbor Capital LLC.

January 2016 Note Payable to Akretive LLC (formerly Great Harbor Capital, LLC)

Pursuant to a January 28, 2016 unsecured promissory note ("January 2016 GH Note") with Great Harbor Capital, LLC ("GH"), an affiliate of a former member of our Board of Directors, GH lent us $2,500. The January 2016 GH Note bears interest at an annual rate of 8.5% with the principal payable in 24 monthly installments of $104 which payment was to commence on February 28, 2017 but was deferred to August 31, 2019. We issued a warrant into escrow in connection with this loan (see GH Escrow Warrants in Note 7). The original maturity date of the January 2016 GH Note was January 28, 2019, with subsequent extensions of the maturity date to June 30, 2019 and October 22, 2021.

March 2016 Note Payable to Akretive *LLC (formerly Great Harbor Capital, LLC)*

Pursuant to a March 21, 2016 unsecured promissory note ("March 2016 GH Note"), GH lent us $7,000. This March 2016 GH Note bears interest at an annual rate of 8.5%, with the principal payable in 24 monthly installments of $292 which payment was to commence on April 21, 2017 but was deferred to August 30, 2019. We issued a warrant into escrow in connection with this loan (see GH Escrow Warrants in Note 7). The note was scheduled to mature on March 21, 2019, with subsequent extensions of the maturity date to June 30, 2019 and October 22, 2021.

December 2016 Note Payable to Akretive *LLC (formerly Great Harbor Capital, LLC)*

Pursuant to a December 31, 2016 unsecured promissory note ("December 2016 GH Note"), GH lent us $2,500. The December 2016 GH Note bears interest at an annual rate of 8.5% with the principal payable at maturity. We issued a warrant into escrow in connection with this loan (see GH Escrow Warrants in Note 7). The note was scheduled to mature on December 31, 2019, which was subsequently extended to October 22, 2021.

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August 2017 Note Payable to Akretive *LLC (formerly Great Harbor Capital, LLC)*

Pursuant to an August 30, 2017 secured promissory note, GH lent us $3,000 ("August 2017 GH Note"). The August 2017 GH Note bears interest at an annual rate of 8.5% with the principal payable at maturity. We issued a warrant into escrow in connection with this loan (see GH Escrow Warrants in Note 7). The note was scheduled to mature on August 29, 2020, which was subsequently extended to October 22, 2021.

February 2018 Note Payable to Akretive *LLC (formerly Great Harbor Capital, LLC)*

Pursuant to a February 6, 2018 secured promissory note, GH lent us $2,000 ("February 2018 GH Note"). The note bears interest at an annual rate of 8.5% with the principal payable at maturity. This note is secured by collateral and is subordinate to the indebtedness owed to Midcap Funding X Trust as successor-by-assignment from MidCap Financial Trust ("MidCap"). The note was scheduled to mature on February 6, 2021, which was subsequently extended to October 22, 2021.

As previously reported, on February 6, 2018, the Company issued an amended and restated secured promissory note to GH ("A&R August 2017 GH Note") replacing the prior secured promissory note issued on August 30, 2017. The amendment and restatement added a requirement that when the Company consummates any Special Asset Disposition (as defined in the February 2018 GH Note), provided that the Company has a minimum liquidity of $1,000, the Company will use the net cash proceeds from the Special Asset Disposition to pay any accrued and unpaid interest under the A&R August 2017 GH Note and any other note subject to the Intercreditor Agreement (defined below). The interest rate and payment terms remain unchanged from the original secured promissory note issued to GH on August 30, 2017; however, the maturity date had been extended to October 22, 2021.

Furthermore, as a result of notes issued on February 6, 2018, by GH and Golisano Holdings LLC ("Golisano LLC"), GH and Golisano LLC entered into an "Intercreditor Agreement" where they agreed that each of the February 2018 GH Note, A&R August 2017 GH Note, and the Golisano LLC February 2018 Note (as defined below) are *pari passu* as to repayment, security and otherwise and are equally and ratably secured.

July 2018 Note Payable to Akretive *LLC (formerly Great Harbor Capital, LLC)*

Pursuant to a July 27, 2018 secured promissory note, GH loaned the Company $5,000 ("July 2018 GH Note"). The July 2018 GH Note bears interest at an annual rate of 8.5%, with the principal payable on maturity. Interest on the outstanding principal accrues at a rate of 8.5% per year and is payable monthly on the first day of each month, beginning September 1, 2018. The principal of the July 2018 GH Note was payable at maturity on January 27, 2020. The July 2018 GH Note is secured by collateral. We issued a warrant to GH in connection with this loan (see GH Warrants in Note 7). In July 2019, the Company and GH amended this note to extend the maturity date to October 22, 2021.

The July 2018 GH Note was subordinate to the indebtedness owed to MidCap.

November 2018 Note Payable to Akretive *LLC (formerly Great Harbor Capital, LLC)*

Pursuant to a November 5, 2018 secured promissory note, GH loaned the Company $4,000 ("November 2018 GH Note"). The November 2018 GH Note bears interest at an annual rate of 8.5% with the principal payable on maturity. Interest on the outstanding principal accrues at a rate of 8.5% per year and is payable monthly on the first day of each month beginning December 1, 2018. The principal of the November 2018 GH Note is payable at maturity on November 5, 2020. The November 2018 GH Note is secured by collateral. We issued a warrant to GH in connection with this loan (see GH Warrants in Note 7). In July 2019, the Company and GH amended this note to extend the maturity to October 22, 2021.

February 2020 Note Payable to Great Harbor Capital, LLC

Pursuant to a February 2020 unsecured promissory note ("February 2020 GH Note"), an affiliate of a member of our Board of Directors, GH lent us $2,500. The February 2020 GH Note bears interest at an annual rate of 8% with the principal payable at the maturity of October 22, 2021.

GH had delivered a deferment letter pursuant to which GH agreed to defer all payments due under the aforementioned notes held by GH through October 22, 2021 and agreed to refrain from declaring a default and/or exercising any remedies under the notes.

Amendments to extend the maturity date and related payment deferrals of the aforementioned notes to GH have not been executed and these notes are currently in default. We anticipate extending the maturity dates and related payment deferrals with the lending party, but we cannot guarantee that such extensions and payment deferrals will be successfully obtained on a timely basis or at all. To date, the lending party has not exercised any of its remedies available upon a default for any of the aforementioned notes.

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Akretive Holdings, LLC

Mr. Patrick Ogle is the principal of Akretive Holdings, LLC.

As of December 30, 2024, all debts held by, interest due to, as well as stock shares held by 463IP Partners, LLC, Great Harbor Capital, LLC, Little Harbor LLC, and David L. Van Andel Trust were assigned to Akretive LLC, including one-half of the Macatawa debt. As of April 22, 2025, all debts held by, interest due to, and stock shares held by Golisano Holdings LLC were assigned to Akretive LLC, including one-half of the Macatawa debt.

November 2014 Note Payable to Akretive LLC (formerly Golisano Holdings LLC)

On November 13, 2014, we raised proceeds of $8,000, less certain fees and expenses, from the issuance of a secured note to Penta Mezzanine SBIC Fund I, L.P. ("Penta"). The managing director of Penta, an institutional investor, is also a former director of our Company. We granted Penta a security interest in our assets and pledged the shares of our subsidiaries as security for the note. On March 8, 2017, Golisano Holdings, LLC ("Golisano LLC"), an affiliate of a former member of our Board of Directors, acquired this note payable from Penta (the "First Golisano Penta Note"). Interest on the outstanding principal accrued at a rate of 12% per year from the date of issuance to March 8, 2017 and decreased to 8% per year thereafter, payable monthly. The Company and Golisano LLC amended this note to extend the maturity from November 5, 2020 to October 22, 2021. We issued a warrant to Penta to purchase 4,960,740 shares of the Company's common stock in connection with this loan (see Golisano LLC Warrants formerly Penta Warrants in Note 7).

January 2015 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

On January 22, 2015, we raised proceeds of $5,000, less certain fees and expenses, from the sale of a note to JL-Mezz Utah, LLC (f/k/a JL-BBNC Mezz Utah, LLC) ("JL-US"). The proceeds were restricted to pay a portion of the Nutricap Labs, LLC ("Nutricap") asset acquisition. We granted JL-US a security interest in the Company's assets, including real estate and pledged the shares of our subsidiaries as security for the note. On March 8, 2017, Golisano LLC acquired this note payable from JL-US. Interest on the outstanding principal accrued at a rate of 12% per year from the date of issuance to March 8, 2017 and decreased to 8% per year thereafter payable monthly (the "Golisano JL-US Note"). The note matured on October 22, 2021. On August 30, 2017, we entered into an amendment with Golisano LLC which extended payment of principal to maturity. We issued a warrant to JL-US to purchase 2,329,400 shares of the Company's common stock on January 22, 2015 and 434,809 shares of the Company's common stock on February 4, 2015 (see JL Warrants in Note 7). The 434,809 warrants expired unexercised on February 13, 2020. The note matured on October 22, 2021.

February 2015 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

On February 6, 2015, we raised proceeds of $1,999, less certain fees and expenses, from the issuance of a secured note payable to Penta. The proceeds were restricted to pay a portion of the acquisition of the customer relationships of Nutricap. On March 8, 2017, Golisano LLC acquired this note payable from Penta (the "Second Golisano Penta Note"). Interest on the outstanding principal accrued at a rate of 12% per year from the date of issuance to March 8, 2017, and decreased to 8% per year thereafter, payable monthly. The note matured on October 22, 2021. On August 30, 2017, we entered into an amendment with Golisano LLC which extended payment of principal to maturity. We issued a warrant to Penta to purchase 869,618 shares of the Company's common stock in connection with this loan (see Golisano LLC Warrants formerly Penta Warrants in Note 7).

January 2016 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

Pursuant to a January 28, 2016 unsecured promissory note with Golisano LLC ("Golisano LLC January 2016 Note"), Golisano LLC lent us $2,500. The note was scheduled to mature on January 28, 2019, with subsequent extensions of the maturity date to June 30, 2019 and October 22, 2021. This note bears interest at an annual rate of 8.5%. We issued a warrant into escrow in connection with this loan (see Golisano Escrow Warrants in Note 7).

March 2016 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

Pursuant to a March 21, 2016 unsecured promissory note, Golisano LLC lent us $7,000 ("Golisano LLC March 2016 Note"). The note was scheduled to mature on March 21, 2019, with subsequent extensions of the maturity date to June 30, 2019 and October 22, 2021.This note bears interest at an annual rate of 8.5%. We issued a warrant into escrow in connection with this loan (see Golisano Escrow Warrants in Note 7).

July 2016 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

On July 21, 2016, we issued an unsecured delayed draw promissory note in favor of Golisano LLC pursuant to which Golisano LLC may, in its sole discretion and pursuant to draw requests made by the Company, loan the Company up to the maximum principal amount of $4,770 (the "Golisano LLC July 2016 Note"). During the year ended December 31, 2016, we requested and Golisano LLC approved, draws totaling $4,770.The Golisano LLC July 2016 Note was scheduled to mature on January 28, 2019 and was subsequently extended to October 22, 2021. Interest on the outstanding principal accrues at a rate of 8.5% per year. The principal of the Golisano LLC July 2016 Note is payable at maturity. We issued a warrant into escrow in connection with this loan (see Golisano Escrow Warrants in Note 7).

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December 2016 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

Pursuant to a December 31, 2016 unsecured promissory note, as amended and restated, Golisano LLC lent us $2,500 ("Golisano LLC December 2016 Note"). The note bears interest at an annual rate of 8.5% with the principal payable at maturity. We issued a warrant into escrow in connection with this loan (see Golisano Escrow Warrants in Note 7). The note was scheduled to mature on December 30, 2019 and was subsequently extended to October 22, 2021.

March 2017 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

Pursuant to a March 14, 2017 unsecured promissory note, as amended and restated, Golisano LLC lent us $3,267 ("Golisano LLC March 2017 Note"). The note bears interest at an annual rate of 8.5% with the principal payable at maturity. We issued a warrant into escrow in connection with this loan (see Golisano Escrow Warrants in Note 7). The note was scheduled to mature on December 30, 2019 and was subsequently extended to October 22, 2021.

February 2018 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

Pursuant to a February 6, 2018 secured promissory note, Golisano LLC lent us $2,000 ("Golisano LLC February 2018 Note"). The note bears interest at an annual rate of 8.5% with the principal payable at maturity. This note is secured by collateral and is subordinate to the indebtedness owed to MidCap. The note was scheduled to mature on February 6, 2021 and was subsequently extended to October 22, 2021.

February 2020 Note Payable to Akretive *LLC (formerly* Golisano *Holdings LLC)*

Pursuant to a February 2020 unsecured promissory note ("Golisano LLC February 2020 Note"), an affiliate of a former member of our Board of Directors, Golisano LLC lent us $2,500. The Golisano LLC February 2020 Note bears interest at an annual rate of 8% with the principal payable at the maturity date of October 22, 2021.

Golisano LLC had delivered a deferment letter pursuant to which Golisano LLC agreed to defer all payments due under the aforementioned notes held by Golisano LLC through October 22, 2021 and agreed to refrain from declaring a default and/or exercising any remedies under the notes.

Amendments to extend the maturity date and related payment deferrals of the aforementioned notes to Akretive Holdings LLC have not been executed and these notes are currently in default. We anticipate extending the maturity dates and related payment deferrals with the lending party, but we cannot guarantee that such extensions and payment deferrals will be successfully obtained on a timely basis or at all. To date, Akretive Holdings, LLC has not exercised any of its remedies available upon a default for any of the aforementioned notes.

Akretive LLC (formerly Macatawa Bank)

Mr. Mark Bugge is a former member of the board of directors of Macatawa Bank ("Macatawa") and was a member of the Company's board of directors; he was an active member of both boards at the time of the term loan note. Two former members of the Company's Board of Directors, Mr. B. Thomas Golisano and Mr. David L. Van Andel, are the owners and principals of the guarantor, 463IP Partners, LLC ("463IP"). Furthermore, Mr. Van Andel, through his interest in a trust, holds an indirect limited partnership interest in White Bay Capital, LLLP, which has an ownership interest of greater than 10% in Macatawa.

On December 4, 2018, the Company entered into a Term Loan Note and Agreement (the "Term Loan") in favor of Macatawa. Pursuant to the Term Loan, Macatawa loaned the Company $15,000. The Term Loan was scheduled to mature on November 30, 2020 and was subsequently extended to November 30, 2022. The Term Loan was amended on December 14, 2022 to extend the maturity date to November 30, 2024 and to transition from LIBOR to SOFR. The Term Loan accrued interest at SOFR Rate plus 1.05% per annum with a floor of 2.50%. This loan was settled in full to Macatawa (the "Macatawa Settlement") on November 29, 2025 for $15,891 pursuant to a limited guaranty with 463IP, dated as of December 4, 2018, in favor of Macatawa (the "Limited Guaranty") pursuant to which it has agreed to guarantee payment under the Term Loan and any and all renewals of the Term Loan and all interest accrued on such indebtedness limited to $15,000 plus any accrued interest.

As of December 30, 2024, all debts held by and interest due to 463IP Partners, LLC, Great Harbor Capital, LLC, Little Harbor LLC, and David L. Van Andel Trust were assigned to Akretive LLC, including one-half of the Macatawa debt. This assignment represented a creditor-to-creditor transfer of rights and did not result in any modification, forgiveness, or extinguishment of the Company's obligations. The assignment did not change the principal amount owed, interest terms, or other substantive provisions of the underlying debt, and therefore had no impact on the recognition or measurement of the Company's debt. The Company continues to reflect the full outstanding balance of the Guarantor Debt as notes payable to Akretive as of December 31, 2024.

As of April 22, 2025, all debts held by and interest due to Golisano Holdings LLC were assigned to Akretive LLC, including one-half of the Macatawa debt.

------

On September 16, 2025, the outstanding principal and interest previously owed to Macatawa was formalized in a secured promissory note between Twinlab Consolidated Holdings, Inc. and Holdings, LLC. The principal sum of the note is $15,891. The maturity date was set as November 29, 2025. Interest is established to accrue at a simple rate of 6.0% per annum. A default rate is established at 12% per annum. A fee to waive the default status of the original note was set at $25 and paid on October 10, 2025. This loan was not repaid and entered into default on November 29, 2025.

Because of the settlement of the Macatawa Term Loan was accompanied by the simultaneous recognition of an equivalent replacement obligation, the Company did not recognize a material gain or loss upon extinguishment, other than the write-off of any unamortized deferred financing costs associated with the original borrowing.

*Senior Credit Facility *with* Midcap*

On January 22, 2015, we entered into a three-year $15,000 revolving credit facility (the "Senior Credit Facility") pursuant to a credit and security agreement, based on our accounts receivable and inventory, which could be increased to up to $20,000 upon satisfaction of certain conditions, with MidCap. MidCap subsequently assigned the agreement to an affiliate, Midcap Funding X Trust.

On September 2, 2016, we entered into an amendment with Midcap to increase the Senior Credit Facility to $17,000 and extend our facility an additional 12 months. We granted MidCap a first priority security interest in certain of our assets and pledged the shares of our subsidiaries as security for amounts owed under the Senior Credit Facility. We are required to pay Midcap an unused line fee of 0.50% per annum, a collateral management fee of 1.20% per month and interest of LIBOR plus 5% per annum. We issued a warrant to Midcap to purchase 500,000 shares of the Company's common stock (see Midcap Warrant in Note 7).

On January 22, 2019, we entered into Amendment Sixteen to the Credit and Security Agreement (the "MidCap Sixteenth Amendment"). The MidCap Sixteenth Amendment reduced the revolving credit facility amount from a total of $17,000 to a total of $5,000 and extended the expiration date from January 22, 2019 to April 22, 2019.

On February 13, 2019, MidCap informed the Company that MidCap had re-assigned all of its rights, powers, privileges and duties as "Agent" under the Credit and Security Agreement, as well as all of its right, title and interest in and to the revolving loans made under the facility from Midcap Funding X Trust to MidCap IV Funding.

On April 22, 2019, we entered into Amendment Seventeen to the Credit and Security Agreement (the "MidCap Seventeenth Amendment"), which effectively increased the revolving credit facility amount to $12,000 and renewed the Senior Credit Facility for an additional two years expiring on April 22, 2021.

On April 22, 2021, we entered into Amendment Eighteen to the Credit and Security Agreement (the "MidCap Eighteenth Amendment"), which effectively updated the unused line fee to 0.375% per annum, updated the interest rates to 3.75% per annum, and renewed the Senior Credit Facility for an additional three years expiring on April 22, 2024.

On March 15, 2023, we entered into Amendment Nineteen to the Credit and Security Agreement (the "MidCap Nineteenth Amendment"), which effectively isolated the portion on debt attributed to the assets of the discontinued NutraScience Labs subsidiary and removed it from the determination of provisional compliance. A schedule was established to ensure the pay down of the NutraScience Labs specific balance by the maturity date.

On March 28, 2024, we entered into Amendment Twenty to the Credit and Security Agreement (the "MidCap Twentieth Amendment"), which effectively renewed the Senior Credit Facility for an additional six months expiring on October 31, 2024.

On October 31, 2024, we entered into Amendment Twenty-One to the Credit and Security Agreement (the "MidCap Twenty-First Amendment"), which effectively renewed the Senior Credit Facility for an additional three months expiring on January 31, 2025.

On January 31, 2025, we entered into Amendment Twenty-Two to the Credit and Security Agreement (the "MidCap Twenty-Second Amendment"), which effectively renewed the Senior Credit Facility for an additional three months expiring on April 30, 2025.

We have incurred loan fees totaling $383 relating to the Senior Credit Facility and the subsequent amendments, which is also being amortized into interest expense over the term of the Senior Credit Facility. The balance owed on the Senior Credit Facility was $1,966 as of December 31, 2024.

On April 22, 2025, we terminated the Credit and Security Agreement (the "Midcap Payoff Agreement") via payment of all liabilities, obligations and indebtedness under the Credit Agreement.

------

Other Debt

May 2020 Note Payable to Fifth Third Bank N.A.

On May 7, 2020, Twinlab Consolidated Corporation ("TCC"), the operating subsidiary of the Company, received the proceeds of a loan from Fifth Third Bank, National Association in the amount of $383 obtained under the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act"), which was enacted March 27, 2020 (the "PPP Loan"). The PPP Loan, evidenced by a promissory note dated May 5, 2020 (the "Note"), had a two-year term and bore interest at a rate of 383% per annum, with expected monthly principal and interest payments that were due to begin December 1, 2020. TCC utilized the proceeds of the PPP Loan for payroll, office rent, and utilities, which allowed the Company to seek forgiveness for this loan.

The Company submitted its application for 100% forgiveness for this loan in November 2021. In January 2022, the full amount of the PPP Loan was forgiven by the Small Business Administration ("SBA"). As a result, the Company recorded a gain on the forgiveness of the loan in the amount of $1,674.

Financial Covenants

Certain of the foregoing debt agreements, as amended, require us to meet certain affirmative and negative covenants, including maintenance of specified ratios. As of December 31, 2024, we were in default for lack of compliance with the EBITDA-related financial covenant of the debt agreement with MidCap. The amount due to MidCap for this revolving credit line is $1,966 as of December 31, 2024.

#### Note 7 – Warrants and Registration Rights Agreements
The following table presents a summary of the status of our issued warrants as of December 31, 2024 and changes during the two years then ended:

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| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;**Shares**  | **Weighted Average**  |
|  | **Underlying Warrants**  | **Exercise Price**  |
| Outstanding, December 31, 2022  | 4500000  | $0.01  |
| Granted  | -  | -  |
| Canceled / Expired  | - | -  |
| Exercised  | - | -  |
| Outstanding, December 31, 2023  | 4500000  | $0.01  |
| Granted  | -  | -  |
| Canceled / Expired  | (4500000) | -  |
| Exercised  | - | -  |
| Outstanding, December 31, 2024  | -  | $-  |

---

GH Warrants

In connection with the July 2018 GH Note, we issued GH a warrant to purchase an aggregate of 2,500,000 shares of the Company's common stock at an exercise price of $0.01 per share (the "July 2018 GH Warrant"). The Company had reserved 2,500,000 shares of the Company's common stock for issuance under the July 2018 GH Warrant. The July 2018 GH Warrant expired unexercised on July 27, 2024. The July 2018 GH Warrant was also subject to customary adjustments upon any recapitalization, reorganization, stock split, combination of shares, merger or consolidation. The Company estimated the value of the warrant using the Black-Scholes option pricing model and recorded a debt discount of $1,479, which is being amortized over the term of the July 2018 GH Note.

In connection with the November 2018 GH Note, we issued GH a warrant to purchase an aggregate of 2,000,000 shares of the Company's common stock at an exercise price of $0.01 per share (the "November 2018 GH Warrant"). The Company had reserved 2,000,000 shares of the Company's common stock for issuance under the November 2018 GH Warrant. The November 2018 GH Warrant expired unexercised on November 5, 2024. The November 2018 GH Warrant was also subject to customary adjustments upon any recapitalization, reorganization, stock split, combination of shares, merger or consolidation. The Company estimated the value of the warrant using the Black-Scholes option pricing model and recorded a debt discount of $1,214 which is being amortized over the term of the November 2018 GH Note.

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<u>*Warrants Issued into Escrow*</u>

At December 31, 2024, there were no outstanding warrants held in escrow ("Escrow Warrants"). These Escrow Warrants were previously held in escrow and were not exercisable unless the Company defaulted on the related debt. While the related debt is currently in default (see Note 6), no additional warrants are expected to be issued until the related debt is amended, as expected, which will remedy the current default. The Escrow Warrants were as follows:

Golisano Escrow Warrants

In connection with the Golisano LLC January 2016 Note, we issued into escrow in the name of Golisano LLC a warrant to purchase an aggregate of 1,136,363 shares of the Company's common stock at an exercise price of $0.01 per share (the "January 2016 Golisano Warrant"). The January 2016 Golisano Warrant would not be released from escrow or be exercisable unless and until we fail to pay Golisano LLC the entire unamortized principal amount of the related promissory note and any accrued and unpaid interest thereon as of January 28, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an Acceleration Notice (as defined in the related note agreement). The January 2016 Golisano Warrant expired unexercised on February 28, 2022.

In connection with the Golisano LLC March 2016 Note, we issued into escrow in the name of Golisano LLC a warrant to purchase an aggregate of 3,181,816 shares of the Company's common stock at an exercise price of $0.01 per share (the "March 2016 Golisano Warrant"). The March 2016 Golisano Warrant would not be released from escrow or be exercisable unless and until we fail to pay Golisano LLC the entire unamortized principal amount of the related promissory note and any accrued and unpaid interest thereon as of March 21, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an Acceleration Notice (as defined in the related note agreement). The March 2016 Golisano Warrant expired unexercised on March 21, 2022.

In connection with the Golisano LLC July 2016 Note, we issued into escrow in the name of Golisano LLC a warrant to purchase an aggregate of 2,168,178 shares of the Company's common stock, at an exercise price of $0.01 per share (the "Golisano July 2016 Warrant"). The Golisano July 2016 Warrant would not be released from escrow or be exercisable unless and until we fail to pay Golisano LLC the entire unamortized principal amount of the Golisano LLC July 2016 Note and any accrued and unpaid interest thereon as of July 21, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an Acceleration Notice (as defined in the Golisano LLC July 2016 Note). We had reserved 2,168,178 shares of the Company's common stock for issuance under the Golisano July 2016 Warrant. The Golisano July 2016 Warrant expired unexercised on July 21, 2022.

In connection with the Golisano LLC December 2016 Note, we issued into escrow in the name of Golisano LLC a warrant to purchase an aggregate of 1,136,363 shares of the Company's common stock, at an exercise price of $0.01 per share (the "Golisano December 2016 Warrant"). The Golisano December 2016 Warrant would not be released from escrow or be exercisable unless and until we fail to pay Golisano LLC the entire unamortized principal amount of the Golisano LLC December 2016 Note and any accrued and unpaid interest thereon as of December 31, 2019, (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an Acceleration Notice (as defined in the Golisano LLC December 2016 Note). We had reserved 1,136,363 shares of the Company's common stock for issuance under the Golisano December 2016 Warrant. The Golisano December 2016 Warrant expired unexercised on December 30, 2022.

In connection with the Golisano LLC March 2017 Note, we issued into escrow in the name of Golisano LLC a warrant to purchase an aggregate of 1,484,847 shares of the Company's common stock, at an exercise price of $0.01 per share (the "Golisano March 2017 Warrant"). The Golisano March 2017 Warrant would not be released from escrow or be exercisable unless and until we fail to pay Golisano LLC the entire unamortized principal amount of the Golisano LLC March 2017 Note and any accrued and unpaid interest thereon as of December 31, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an Acceleration Notice (as defined in the Golisano LLC March 2017 Note). We had reserved 1,484,847 shares of the Company's common stock for issuance under the Golisano March 2017 Warrant. The Golisano March 2017 Warrant expired unexercised on March 14, 2023.

In connection with the Golisano LLC February 2018 Note, we issued into escrow in the name of Golisano LLC a warrant to purchase an aggregate of 1,818,182 shares of the Company's common stock at an exercise price of $0.01 per share (the "Golisano 2018 Warrant"). The Golisano 2018 Warrant would not be released from escrow or be exercisable unless and until the Company fails to pay Golisano LLC the entire unamortized principal amount of the Golisano LLC February 2018 Note and any accrued and unpaid interest thereon as of February 6, 2021, (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an acceleration notice. The Company had reserved 1,818,182 shares of the Company's common stock for issuance under the Golisano 2018 Warrant. The Golisano February 2018 Warrant expired on February 6, 2024.

We previously entered into a registration rights agreement with Golisano LLC, dated as of October 5, 2015 (the "Registration Rights Agreement"), granting Golisano LLC certain registration rights for certain shares of the Company's common stock. The shares of common stock that were issuable pursuant to the above Golisano LLC warrants were also entitled to the benefits of the Registration Rights Agreement.

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GH Escrow Warrants

In connection with a January 2016 GH Note, we issued into escrow in the name of GH a warrant to purchase an aggregate of 1,136,363 shares of the Company's common stock at an exercise price of $0.01 per share (the "January 2016 GH Warrant"). The January 2016 GH Warrant would not be released from escrow or be exercisable unless and until we fail to pay GH the entire unamortized principal amount of the January 2016 GH Note and any accrued and unpaid interest thereon as of January 28, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as is required pursuant to an Acceleration Notice (as defined in the January 2016 GH Note). The January 2016 GH Warrant expired unexercised on February 28, 2022.

In connection with a March 2016 GH Note, we issued into escrow in the name of GH a warrant to purchase an aggregate of 3,181,816 shares of the Company's common stock at an exercise price of $0.01 per share (the "March 2016 GH Warrant"). The March 2016 GH Warrant would not be released from escrow or be exercisable unless and until we fail to pay GH the entire unamortized principal amount of the March 2016 GH Note and any accrued and unpaid interest thereon as of March 21, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as irequired pursuant to an Acceleration Notice (as defined in the March 2016 GH Note). The March 2016 GH Warrant expired unexercised on March 21, 2022.

In connection with the December 2016 GH Note, we issued into escrow in the name of GH a warrant to purchase an aggregate of 1,136,363 shares of the Company's common stock, at an exercise price of $0.01 per share (the "December 2016 GH Warrant"). The December 2016 GH Warrant would not be released from escrow or be exercisable unless and until we fail to pay GH the entire unamortized principal amount of the December 2016 GH Note and any accrued and unpaid interest thereon as of December 31, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an Acceleration Notice (as defined in the December 2016 GH Note). We had reserved 1,136,363 shares of common stock for issuance under the December 2016 GH Warrant. The December 2016 GH Warrant expired unexercised on December 30, 2022.

In connection with the August 2017 GH Note, we issued into escrow in the name of GH a warrant to purchase an aggregate of 1,363,636 shares of the Company's common stock, at an exercise price of $0.01 per share (the "August 2017 GH Warrant"). The August 2017 GH Warrant would not be released from escrow or be exercisable unless and until we fail to pay GH the entire unamortized principal amount of the August 2017 GH Note and any accrued and unpaid interest thereon as of August 29, 2020 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an Acceleration Notice (as defined in the August 2017 GH Note). We had reserved 1,363,636 shares of common stock for issuance under the August 2017 GH Warrant. The August 2017 GH Warrant expired on August 30, 2023 and no warrants were exercised.

In connection with the February 2018 GH Note, we issued into escrow in the name of GH a warrant to purchase an aggregate of 1,818,182 shares of the Company's common stock at an exercise price of $0.01 per share (the "February 2018 GH Warrant"). The February 2018 GH Warrant would not be released from escrow or be exercisable unless and until the Company fails to pay GH the entire unamortized principal amount of the note and any accrued and unpaid interest thereon as of February 6, 2021, (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an acceleration notice. The Company has reserved 1,818,182 shares of the Company's common stock for issuance under the February 2018 GH Warrant. The February 2018 GH Warrant expired on February 6, 2024.

Little Harbor Escrow Warrant

The Little Harbor Delayed Draw Note required that we issue into escrow in the name of Little Harbor a warrant to purchase an aggregate of 2,168,178 shares of common stock at an exercise price of $0.01 per share (the "Little Harbor July 2016 Warrant"). The Little Harbor July 2016 Warrant would not be released from escrow or be exercisable unless and until we fail to pay Little Harbor the entire unamortized principal amount of the Little Harbor Delayed Draw Note and any accrued and unpaid interest thereon as of January 28, 2019 (which was extended to October 22, 2021 – See Note 6 for further information) or such earlier date as required pursuant to an acceleration notice (as defined in the Little Harbor Delayed Draw Note). We had reserved 2,168,178 shares of the Company's common stock for issuance under the Little Harbor July 2016 Warrant. The Little Harbor July 2016 Warrant expired unexercised on July 21, 2022.

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**Note 8 – Discontinued Operations**

Throughout the third quarter of 2023, the Company took steps to cease the operations of its fully owned subsidiary, NSL. By September 30, 2023 the aggregation of these efforts resulted in the abandonment of the remaining assets associated with the subsidiary. The Company no longer retains access to the facilities and warehousing locations previously associated with NSL operations. The loss recognized related to the disposal was $(1,220) and is included in loss from discontinued operations, net of tax.

The major classes of assets and liabilities of our discontinued operations as reported on the Balance Sheet are as follows:

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| | | |
|:---|:---|:---|
|  | **December 31, 2024** | **December 31, 2023** |
| Carrying amounts of assets associated with NutraScience Labs included as part of discontinued operations: |  |  |
| Cash and cash equivalents | $- | $- |
| Accounts receivable, net |  | 161 |
| Inventories, net |  |  |
| Prepaid expenses |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current assets of discontinued operations | $- | $161 |
| Property and equipment, net | $- | $- |
| Right of use assets, net |  |  |
| Deposits and other assets |  | - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-current assets of discontinued operations | $- | $- |
| Carrying amounts of liabilities associated with NutraScience Labs included as part of discontinued operations: |  |  |
| Accounts payable | $4321 | $4722 |
| Accrued expenses and other current liabilities | 2276 | 2055 |
| Short-term operating lease liabilities | 480 | 480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current liabilities of discontinued operations | $7077 | $7257 |
| Long-term operating lease liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Non-current liabilities of discontinued operations | $- | $- |

---

The operating results of our discontinued operations are as follows:

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| | | |
|:---|:---|:---|
|  | **December 31,** | **December 31,** |
|  | **2024** | **2023** |
| Net sales | $- | $7106 |
| Cost of sales |  | (6796) |
| Operating costs and expense | 308 | (4362) |
| Income (loss) from discontinued operations before Provision for income taxes  | 308 | (4052) |
| Provision expense (benefit) for income taxes |  |  |
| Income (loss) from discontinued operations, net of tax | $308 | $(4052) |

---

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#### Note 9 – Stockholders' Deficit
Preferred Stock

The Company has authorized 500,000,000 shares of preferred stock with a par value of $0.001 per share. No shares of the preferred stock have been issued.

*Twinlab Consolidation Corporation* 2013 *Stock Incentive Plan*

The Twinlab Consolidation Corporation 2013 Stock Incentive Plan (the "TCC Plan") was originally established with a pool of 20,000,000 shares of common stock for issuance as incentive awards to employees for the purposes of attracting and retaining qualified employees. The Company estimated the grant date fair market value per share of the restricted stock units and amortized the total estimated grant date value over the vesting periods. The restricted stock unit awards vested 25% each annually on various dates through 2019. There were no outstanding or unvested restricted stock units at December 31, 2024 or December 31, 2023. As of December 31, 2024, 7,194,412 shares remain available for use in the TCC Plan.

Stock Subscription Receivable

At December 31, 2024, the stock subscription receivable dated August 1, 2014 for the purchase of 1,528,384 shares of the Company's common stock had a principal balance of $30 and bears interest at an annual rate of 5%.

#### Note 10 – Income Taxes
Income tax provision consisted of the following for the years ended December 31, 2024 and 2023 as follows:

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| | | |
|:---|:---|:---|
|  | December 31, 2024 | December 31, 2023 |
| Current:  |  |  |
| &nbsp;&nbsp;&nbsp; State  | $(43) | $(43 ) |
| Total current expense  | (43) | (43 ) |
| Deferred:  |  |  |
| &nbsp;&nbsp;&nbsp; Federal  | (3825) | (1177) |
| &nbsp;&nbsp;&nbsp; State  | (2710) | (1036) |
| &nbsp;&nbsp;&nbsp; Change in valuation allowance  | 6535 | 2213  |
| Total deferred expense  | -  | -  |
| Total income tax provision  | $(43) | $(43 ) |

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The income tax provision differs from the amount computed at federal statutory rates for the years ended December 31, 2024 and 2023 as follows:

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| | | |
|:---|:---|:---|
|  | December 31, 2024 | December 31, 2023 |
| Effective rate reconciliation  |  |  |
| Computed Federal income tax benefit at the statutory rate  | $1994  | $2873  |
| State income taxes, net of federal benefit | (736) | (843) |
| Federal NOL Expirations | (7832) | (4280) |
| Change in valuation allowance  | 6535 | 2213  |
| Other  | (4) | (6) |
| Income tax provision  | $(43) | $(43) |

---

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Deferred tax assets (liabilities) are comprised of the following at December 31, 2024 and 2023:

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| | | |
|:---|:---|:---|
|  | December 31, 2024 | December 31, 2023 |
| Deferred tax assets/(liabilities)  |  |  |
| Deferred tax assets:  |  |  |
| &nbsp;&nbsp;&nbsp; Net operating loss carryforwards  | $52250  | $58820  |
| &nbsp;&nbsp;&nbsp; Accruals and reserves  | 11235  | 10546  |
| &nbsp;&nbsp;&nbsp; Depreciation and amortization  | 4581  | 4860  |
| &nbsp;&nbsp;&nbsp; Indefinite-lived intangibles  | 1615  | 2191  |
| &nbsp;&nbsp;&nbsp; Other  | 3503  | 3302  |
| &nbsp;&nbsp;&nbsp; Total deferred tax assets  | 73184  | 79719  |
| Less valuation allowance  | (73184) | (79719 ) |
| Net deferred tax assets  | $-  | $-  |

---

As a result of recurring operating losses, we have recorded a full valuation allowance against our net deferred tax assets as of December 31, 2024 and 2023, as management was unable to conclude that it is more likely than not that the deferred tax assets will be realized. During the years ended December 31, 2024 and 2023, the valuation allowance on deferred tax assets increased by $6,535 and $2,213, respectively.

We had federal net operating loss carryforwards of approximately $214,000 and state net operating loss carryforwards of approximately $156,000 at December 31, 2024, which are available to reduce future federal and state taxable income. The federal and state net operating loss carryforwards begin to expire 2025. If substantial changes in our ownership should occur, there would be an annual limitation of the amount of the net operating loss carryforwards which could be utilized.

We perform a review of our material tax positions in accordance with recognition and measurement standards established by authoritative accounting literature, which requires a company to determine whether it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. If the more-likely-than-not threshold is met, a company must measure the tax position to determine the amount to recognize in the financial statements. Based upon our review and evaluation, during the years ended December 31, 2024 and 2023, we concluded that we had no unrecognized tax benefit that would affect our effective tax rate if recognized.

The Company files U.S. and state income tax returns in jurisdictions with various statutes of limitations. The 2021 through 2023 tax years remain subject to selection for examination as of December 31, 2024. None of the Company's income tax returns are currently under audit.

#### Note 11 – Commitments And Contingencies
Litigation

From time to time the Company and its subsidiaries are parties to litigation arising in the ordinary course of business operations. Such litigation primarily involves claims for personal injury, property damage, breach of contract and claims involving employee relations and certain administrative proceedings. On November 14, 2025, the landlord for the real property lease in St. Petersburg, Florida, filed a notice of default for unpaid rent. The company has not yet responded to the complaint. On December 10, 2025, the landlord for the real property lease in St Petersburg, Florida filed a Complaint for Damages. Based on current information, we believe that the ultimate conclusion of the various pending litigation, in the aggregate, may have a material adverse effect on our consolidated financial position, results of operations and cash flows and liquidity. See Note 13 in the Notes to Consolidated Financial Statements included in this report.

Leases

The Company leased office space under non-cancelable operating leases with remaining lease terms ranging from 1 to 7 years. These leases require monthly lease payments that may be subject to annual increases throughout the lease term. Certain of these leases also include renewal options at the election of the Company to renew or extend the lease for an additional 2 to 5 years. These optional periods have not been considered in the determination of the right-of-use assets or lease liabilities associated with these leases as the Company did not consider it reasonably certain it would exercise the options. The Company performed evaluations of its contracts and determined each of its identified leases are operating leases.

------

The sublease agreement to sublease half of the 31,000 square feet of office in St. Petersburg, Florida that commenced on February 1, 2017, expired on June 30, 2022. The lease was re-measured at that time and as a result, the Company recorded an impairment loss of $373 in general and administrative expenses. The lease was re-measured again in 2023 and, as a result, the Company recorded an impairment loss of $488 in general and administrative expenses. As of September 30, 2024, a subtenant still has not been found and one is not anticipated to be found before the lease expires. The Company incurred an impairment loss of $284 in general and administrative expenses As of December 31, 2024, a subtenant still has not been found. On November 15, 2025, the Company received a Notice of Default from the landlord followed by a Complaint for Damages for breach of lease on December 10, 2025. As a result, the Company incurred an impairment losses of $1,389 in general and administrative expenses in 2024.

For the year ended December 31, 2024, the Company incurred $327 of lease expense on the consolidated statements of operations in relation to these operating leases, of which $212 was variable rent expense not included within the measurement of the Company's operating right-of-use assets and lease liabilities. The variable rent expense consists primarily of the Company's proportionate share of operating expenses, property taxes, and insurance and is classified as lease expense due to the Company's election to not separate lease and non-lease components. For the year ended December 31, 2023, total rental expense for operating leases was $706, of which $90 was variable rent expense.

In September 2024, the Company amended one of its lease agreements to extend the lease for 1,533 square feet of office space in Boca Raton, Florida for an additional 12 calendar months, commencing on November 1, 2024 and expired on October 31, 2025.

The lease agreement for 18,700 square feet of office space in Farmingdale, New York used by NutraScience Labs as its corporate office commenced on June 2, 2017 and was surrendered to the landlord, as part of the abandonment of operations, on May 12, 2023.

The lease agreement for 13,500 square feet of office space in Hauppauge, New York used by NutraScience labs as its secondary office space and warehouse commenced on May 1, 2021 and was forfeited to the landlord, as part of the abandonment of operations, on September 30, 2023. A loss of $454 was recorded in general and administrative expenses.

As of December 31, 2024, the future maturities of the Company's lease liabilities were as follows:

---

| | |
|:---|:---|
| 2025 | $3379  |
| 2026 | 42 |
| Total lease payments  | 3421  |
| Less: imputed interest  | (232) |
| Present value of lease liabilities  | $3189  |

---

Included below is other information regarding leases for the year ended December 31, 2024.

---

| | |
|:---|:---|
|  | For the Year Ended<br>December 31, 2024 |
| Sublease income  | $668  |
| Cash paid for operating leases  | $680  |
| Weighted average remaining lease term (years) - operating leases  | 1.8  |
| Weighted average discount rate – operating leases  | 8.3% |

---

Employee Agreements

We have entered into employment agreements with certain members of management. The terms of each agreement are different. However, one or all of these agreements include stipulated base salary, bonus potential, vacation benefits, severance and non-competition agreements.

------

#### Note 12 – Related Party Transactions
See Note 6 for discussion of notes payable to Little Harbor, GH, and Golisano LLC, Akretive LLC, related parties. In addition, Little Harbor, GH, and Golisano LLC were also issued warrants to purchase shares of the Company's common stock, as discussed in Note 7.

We had sales of $0 and $632 in 2024 and 2023, respectively, to an entity whose board of directors included an individual who is a former member of the Company's board of directors.

#### Note 13 – Subsequent Events
*Akretive, LLC* 

On November 30, 2024, the debt with Macatawa was settled by the surrender of collateral from the Guarantors of the note with the debt reverting back to the Guarantors The remaining interest in this indebtedness of the Guarantors was assigned to Akretive, LLC according to the notes below.

As of December 30, 2024, all debts held by and interest due to 463IP Partners, LLC, Great Harbor Capital, LLC, Little Harbor LLC, and David L. Van Andel Trust were assigned to Akretive LLC, including one-half of the Macatawa debt

On April 22, 2025, the Company entered into the Consent, Release and Indemnification Agreement with BTG Holdings, LLC pursuant to which it consented to the transactions involving Akretive LLC.

As of April 22, 2025, all debts held by and interest due to Golisano Holdings LLC were assigned to Akretive LLC, including one-half of the Macatawa debt.

On Septemeber 16, 2025, the outstanding principal and interest previously owed to Macatawa was formalized in a secured promissory note between Twinlab Consolidated Holdings, Inc. and Holdings, LLC. The principal sum of the note is $15,891k. The maturity date was set as November 29, 2025. Interest is established to accrue at a simple rate of 6.0% per annum. A default rate is established at 12% per annum. Interest is not to be compounded. A fee to waive the default status of the original note was set at $25k and paid on October 10, 2025. This loan was not repaid and entered into default on November 29, 2025.

*Senior Credit Facility with Midcap* 

On October 31, 2024, we entered into Amendment Twenty-One to the Credit and Security Agreement (the "MidCap Twenty-First Amendment"), which effectively renewed the Senior Credit Facility for an additional three months expiring on January 31, 2025. A non-refundable modification fee of $125k, with $25k due upon signing and $100 due at the end of the loan period, was included as part of this Amendment.

On January 31, 2025, we entered into Amendment Twenty-Two to the Credit and Security Agreement (the "MidCap Twenty-Second Amendment"), which effectively renewed the Senior Credit Facility for an additional three months expiring on April 30, 2025.

On April 22, 2025, the Credit and Security Agreement was paid in full. Security interests were released as part of the closure of the Agreement.

*Changes to Management*

On December 12, 2025, the Board of Directors appointed Anthony Zolezzi as the Chief Executive Officer of TCC. On that same day, Kyle Casey, the Interim Chief Executive Officer and Chief Financial Officer did tender his resignation from the positions of Interim Chief Executive Officer and Chief Financial Officer.

*Changes to the Board of Directors*

On June 26, 2025, Mr. Van Andel resigned from the Board of Directors.

*Legal Considerations*

On November 14, 2025, counsel to First Central Tower Limited Partnership ("Landlord"), remitted a Notice of Default, Demand to Cure and for Acceleration of Rent to TCHI and TCC seeking $979,885 in unpaid rent. The Company did not respond to this notice.

On December 10, 2025, the Landlord filed a complaint for damages in the Circuit Court for the Sixth Judicial Circuit in and for Pinellas and Pasco Counties, Florida, Civil Division. The Landlord states that the Company defaulted on the lease by failing to pay rent on the date rent was due. The Landlord is seeking to recover damages from the Company in the amount of $963,363, comprised of past due rent and late fees totaling $1,394,221, less the Company's security deposit in the amount of $1,000,000, plus accelerated rent due for the remainder of the lease term reduced to net present value in the amount of $360,713 plus costs associated with reletting the premises in the amount of $208,428. As of the date of this filing, the Company has not responded to this complaint. It is possible that the Company's failure to respond to the compliant will result in a default judgment against the Company or alternatively that any response to the complain or future actions on the Company's part to defend against this litigation will be unsuccessful and result in an adverse judgment against the Company. Such a default or adverse judgment could result in the imposition of material damages and other costs and could have a material adverse effect on the Company.

------

## Exhibit 21.1

**Exhibit 21.1**

**List of Subsidiaries**

Twinlab Consolidation Corporation, a wholly owned subsidiary of Twinlab Consolidated Holdings, Inc.

Twinlab Holdings, Inc., a wholly owned subsidiary of Twinlab Consolidation Corporation

ISI Brands Inc., a wholly owned subsidiary of Twinlab Holdings, Inc.

Twinlab Corporation., a wholly owned subsidiary of Twinlab Holdings, Inc.

NutraScience Labs, Inc., a wholly owned subsidiary of Twinlab Consolidation Corporation

Nutrascience Labs IP Corporation, a wholly owned subsidiary of Twinlab Consolidation Corporation

Organic Holdings LLC, a wholly owned subsidiary of Twinlab Consolidation Corporation

CocoaWell, LLC, a wholly owned subsidiary of Organic Holdings LLC

Fembody, LLC, a wholly owned subsidiary of Organic Holdings LLC

InnoVitamin Organics, LLC, a wholly owned subsidiary of Organic Holdings LLC

Joie Essance, LLC, a wholly owned subsidiary of Organic Holdings LLC

Organics Management LLC, a wholly owned subsidiary of Organic Holdings LLC

Re-Body, LLC, a wholly owned subsidiary of Organic Holdings LLC

Reserve Life Organics, LLC, a wholly owned subsidiary of Organic Holdings LLC

ResVitale, LLC, a wholly owned subsidiary of Organic Holdings LLC

Reserve Life Nutrition, L.L.C., a wholly owned subsidiary of Organic Holdings LLC

Innovita Specialty Distribution LLC, a wholly owned subsidiary of Organic Holdings LLC <br>

## Exhibit 23.1

**Exhibit 23.1**

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the registration statement on Form S-8 (File No. 333-201472) of our report dated March 3, 2026 included in this Form 10-K, with respect to the consolidated financial statements of Twinlab Consolidated Holdings, Inc. and subsidiaries as of December 31, 2024 and 2023 for the years then ended.

/s/ Tanner LLC

Salt Lake City, Utah <br> March 3, 2026

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

I, Kyle Casey, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Annual Report on Form 10-K of Twinlab Consolidated Holdings, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: March 3, 2026

---

| |
|:---|
| /s/Kyle Casey  |
| Kyle Casey  |
| Chief Financial Officer |

---

## Exhibit 31.2

**EXHIBIT 31.2**

**CERTIFICATION**

I, Anthony Zolezzi, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this Annual Report on Form 10-K of Twinlab Consolidated Holdings, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: March 3, 2026

---

| |
|:---|
| /s/Anthony Zolezzi |
| Anthony Zolezzi<br>|
| Chief Executive Officer |

---

## Exhibit 32.1

**EXHIBIT 32.1**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Annual Report of Twinlab Consolidated Holdings, Inc. (the "Company") on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Kyle Casey, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C.§1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: March 3, 2026 | /s/Kyle Casey |
|  | Kyle Casey<br>|
|  | Chief Financial Officer |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Twinlab Consolidated Holdings, Inc. and will be retained by Twinlab Consolidated Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request. <br>

## Exhibit 32.2

**EXHIBIT 32.2**

**CERTIFICATION PURSUANT TO**

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Annual Report of Twinlab Consolidated Holdings, Inc. (the "Company") on Form 10-K for the year ended December 31, 2024 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Anthony Zolezzi, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C.§1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| | |
|:---|:---|
| Date: March 3, 2026 | /s/Anthony Zolezzi |
|  | Anthony Zolezzi |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Executive Officer |

---

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Twinlab Consolidated Holdings, Inc. and will be retained by Twinlab Consolidated Holdings, Inc. and furnished to the Securities and Exchange Commission or its staff upon request. <br>