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  • Gladstone Investment Corporation Reports Financial Results for its Second Quarter Ended September 30, 2025

    Gladstone Investment Corporation Reports Financial Results for its Second Quarter Ended September 30, 2025

    MCLEAN, VA / ACCESS Newswire / November 4, 2025 / Gladstone Investment Corporation (Nasdaq: GAIN) (the “Company”) today announced earnings for its second fiscal quarter ended September 30, 2025. Please read the Company’s Quarterly Report on Form 10-Q, filed today with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website at www.sec.gov or the investors section of the Company’s website at www.gladstoneinvestment.com.

    Summary Information: (dollars in thousands, except per share data (unaudited)):

    September 30,
    2025

    June 30,
    2025

    Change
    %
    Change
    For the quarter ended:
    Total investment income

    $

    25,279

    $

    23,544

    $

    1,735

    7.4

    %
    Total expenses, net(A)

    21,000

    14,456

    6,544

    45.3

    %
    Net investment income(A)

    4,279

    9,088

    (4,809

    )

    (52.9

    )%
    Net realized loss

    (29,938

    )

    –

    (29,938

    )

    NM
    Net unrealized appreciation (depreciation)

    54,368

    (1,316

    )

    55,684

    NM
    Net increase in net assets resulting from operations(A)

    $

    28,709

    $

    7,772

    $

    20,937

    269.4

    %
    Net investment income per weighted-average common share(A)

    $

    0.11

    $

    0.25

    $

    (0.14

    )

    (56.0

    )%
    Adjusted net investment income per weighted-average common share(B)

    $

    0.24

    $

    0.24

    $

    –

    –

    %
    Net increase in net assets resulting from operations per weighted-average common share(A)

    $

    0.75

    $

    0.21

    $

    0.54

    257.1

    %
    Cash distribution per common share from net investment income(C)

    $

    0.24

    $

    0.27

    $

    (0.03

    )

    (11.1

    )%
    Cash distribution per common share from net realized gains(C)

    $

    –

    $

    0.51

    $

    (0.51

    )

    (100.0

    )%
    Weighted-average yield on interest-bearing investments

    13.4

    %

    14.1

    %

    (0.7

    )%

    (5.0

    )%
    Total dollars invested

    $

    71,036

    $

    62,842

    $

    8,194

    13.0

    %
    Total dollars repaid and collected from sales and recapitalization of investments

    $

    1,436

    $

    4,370

    $

    (2,934

    )

    (67.1

    )%
    Weighted-average shares of common stock outstanding – basic and diluted

    38,445,643

    36,908,943

    1,536,700

    4.2

    %
    Total shares of common stock outstanding

    39,591,037

    37,352,676

    2,238,361

    6.0

    %
    As of:
    Total investments, at fair value

    $

    1,130,859

    $

    1,036,745

    $

    94,114

    9.1

    %
    Fair value, as a percent of cost

    109.0

    %

    103.9

    %

    5.1

    %

    4.9

    %
    Net assets

    $

    535,843

    $

    485,304

    $

    50,539

    10.4

    %
    Net asset value per common share

    $

    13.53

    $

    12.99

    $

    0.54

    4.2

    %
    Number of portfolio companies

    28

    27

    1

    3.7

    %

    NM = Not Meaningful

    (A) Inclusive of $4.9 million, or $0.13 per weighted-average common share, of capital gains-based incentive fees accrued during the three months ended September 30, 2025 and $0.2 million, or $0.01 per weighted-average common share, of capital gains-based incentive fees reversed during the three months ended June 30, 2025, respectively. These fees were accrued/(reversed) in accordance with United States generally accepted accounting principles (“U.S. GAAP”), where such amounts were not contractually due under the terms of the investment advisory agreement for the respective periods. Also see discussion under Non-GAAP Financial Measure – Adjusted Net Investment Income below.

    (B) See Non-GAAP Financial Measure – Adjusted Net Investment Income, below, for a description of this non-GAAP measure and a reconciliation from Net investment income to Adjusted net investment income, including on a weighted-average per share basis. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes it is useful to investors as an additional tool to evaluate ongoing results and trends for the Company.

    (C) Estimates of tax characterization made on a quarterly basis may not be representative of the actual tax characterization of distributions for the full year. Estimates made on a quarterly basis are updated as of each interim reporting date.

    Highlights for the Quarter: During the quarter ended September 30, 2025, the following significant events occurred:

    • Portfolio Activity:

      • In July 2025, we invested $67.6 million in a new portfolio company, Global GRAB Technologies, Inc. (“Global GRAB”), in the form of $46.5 million of secured first lien debt and $21.1 million of preferred equity. Global GRAB, headquartered in Franklin, Tennessee, is a provider of turnkey perimeter security and hostile vehicle mitigation systems, serving various government and commercial organizations.

      • In September 2025, we entered into a new $20.0 million secured first lien term loan with J.R. Hobbs Co. – Atlanta, LLC (“J.R. Hobbs”), restructuring our previously outstanding first lien term loans and line of credit with an aggregate total cost basis of $49.9 million, which resulted in a realized loss of $29.9 million.

    • Distributions and Dividends:

      • Paid an $0.08 per common share distribution to common stockholders in each of July, August and September 2025.

    • At-the-market (“ATM”) Program Activity:

      • Sold 2,238,361 shares of our common stock under our common stock ATM program at a weighted-average gross price of $14.10 per share and raised approximately $31.1 million in net proceeds. These sales were above our then-current NAV per share.

    Second Quarter Results: Net investment income for the quarter ended September 30, 2025 was $4.3 million, or $0.11 per weighted-average common share, compared to net investment income of $9.1 million, or $0.25 per weighted-average common share, for the quarter ended June 30, 2025. This decrease was a result of an increase in total expenses, net of credits, primarily due to an increase in accruals for capital gains-based incentive fees and an increase in interest expense, partially offset by an increase in total investment income in the current quarter.

    Total investment income for the quarters ended September 30, 2025 and June 30, 2025 was $25.3 million and $23.5 million, respectively. The increase quarter over quarter was due to a $1.0 million increase in interest income, primarily due to an increase in the weighted-average principal balance of our interest-bearing investment portfolio outstanding, as well as a $0.7 million increase in dividend and success fee income, the timing of which can be variable.

    Total expenses, net of credits, for the quarters ended September 30, 2025 and June 30, 2025 was $21.0 million and $14.5 million, respectively. The increase quarter over quarter was primarily due to a $5.1 million increase in accruals for capital gains-based incentive fees in the current quarter, as a result of the net impact of realized and unrealized gains and losses, a $1.1 million increase in interest expense due to increased borrowings on the credit facility, a $0.4 million increase in base management fee and a $0.3 million increase in income-based incentive fees. The increase was partially offset by a $0.2 million increase in credits from Adviser.

    Net asset value per common share as of September 30, 2025 was $13.53, compared to $12.99 as of June 30, 2025. The increase quarter over quarter was primarily due to net unrealized appreciation of investments of $54.5 million, or $1.42, which included $35.3 million, or $0.92 per common share, of unrealized appreciation and $19.1 million, or $0.50 per common share, of reversal of unrealized depreciation on our investment in J.R. Hobbs upon its restructure. The increase was also due to $4.3 million, or $0.11 per common share, of net investment income and $0.06 per common share of net accretive effect of equity offerings. These increases were partially offset by $29.9 million, or $0.78 per common share, of realized loss on investments and $9.3 million, or $0.24 per common share, of distributions paid to common shareholders.

    Subsequent Events: After September 30, 2025, the following significant events occurred:

    • Distributions and Dividends:

      • In October 2025, our Board of Directors declared the following monthly distributions to common stockholders:

    Record Date
    Payment Date

    Distribution per Common Share
    October 24, 2025
    October 31, 2025

    $

    0.08
    November 17, 2025
    November 26, 2025

    0.08
    December 22, 2025
    December 31, 2025

    0.08

    Total for the Quarter:

    $

    0.24

    • ATM program activity:

      • Subsequent to September 30, 2025, we sold 55,414 shares of our common stock under our common stock ATM program at a weighted-average gross price of $14.02 per share and raised approximately $0.8 million in net proceeds. These sales were above our then-current NAV per share.

    Non-GAAP Financial Measure – Adjusted Net Investment Income: On a supplemental basis, the Company discloses Adjusted net investment income, including on a weighted-average per share basis, which is a financial measure that is calculated and presented on a basis of methodology other than in accordance with GAAP. Adjusted net investment income represents net investment income, excluding capital gains-based incentive fees. The Company uses this non-GAAP financial measure internally in analyzing financial results and believes that this non-GAAP financial measure is useful to investors as an additional tool to evaluate ongoing results and trends for the Company. The Company’s investment advisory agreement provides that a capital gains-based incentive fee is determined and paid annually with respect to realized capital gains (but not unrealized appreciation) to the extent such realized capital gains exceed realized capital losses and unrealized depreciation on investments for such year. However, under GAAP, a capital gains-based incentive fee is accrued if realized capital gains and unrealized appreciation of investments exceed realized capital losses and unrealized depreciation of investments. Refer to Note 4 – Related Party Transactions in our Quarterly Report on Form 10-Q for further discussion. The Company believes that Adjusted net investment income is a useful indicator of operations exclusive of any capital gains-based incentive fees, as net investment income does not include realized or unrealized investment activity associated with the capital gains-based incentive fee.

    The following table provides a reconciliation of net investment income (the most comparable GAAP measure) to Adjusted net investment income for the periods presented (dollars in thousands, except per share amounts; unaudited):

    For the quarter ended

    September 30, 2025

    June 30, 2025

    Amount
    Per Share
    Amount

    Amount
    Per Share
    Amount
    Net investment income

    $

    4,279

    $

    0.11

    $

    9,088

    $

    0.25
    Capital gains-based incentive fee

    4,897

    0.13

    (209

    )

    (0.01

    )
    Adjusted net investment income

    $

    9,176

    $

    0.24

    $

    8,879

    $

    0.24
    Weighted-average shares of common stock outstanding – basic and diluted

    38,445,643

    36,908,943

    Adjusted net investment income may not be comparable to similar measures presented by other companies, as it is a non-GAAP financial measure that is not based on a comprehensive set of accounting rules or principles and therefore may be defined differently by other companies. In addition, Adjusted net investment income should be considered in addition to, not as a substitute for, or superior to, financial measures determined in accordance with GAAP.

    Conference Call: The Company will hold its earnings release conference call on Wednesday, November 5, 2025, at 8:30 a.m. Eastern Time. Please call (866) 373-3416 to enter the conference call. An operator will monitor the call and set a queue for any questions. A replay of the conference call will be available through November 12, 2025. To hear the replay, please dial (877) 660-6853 and use the playback conference number 13755537. The replay will be available beginning approximately one hour after the call concludes. The live audio broadcast of the Company’s quarterly conference call will also be available online at www.gladstoneinvestment.com. The event will be archived and available for replay on the Company’s website.

    About Gladstone Investment Corporation: Gladstone Investment Corporation is a publicly traded business development company that seeks to make secured debt and equity investments in lower middle market businesses in the United States in connection with acquisitions, changes in control and recapitalizations. Information on the business activities of all the Gladstone funds can be found at www.gladstonecompanies.com.

    To obtain a paper copy of our Quarterly Report on Form 10-Q, filed today with the SEC, please contact the Company at 1521 Westbranch Drive, Suite 100, McLean, VA 22102, ATTN: Investor Relations. The financial information above is not comprehensive and is without notes, so readers should obtain and carefully review the Company’s Form 10-Q for the quarter ended September 30, 2025, including the notes to the consolidated financial statements contained therein.

    Investor Relations Inquiries: Please visit ir.gladstoneinvestment.com or call (703) 287-5893.

    Forward-looking Statements:

    The statements in this press release regarding potential future distributions, earnings and operations of the Company are “forward-looking statements.” These forward-looking statements inherently involve certain risks and uncertainties in predicting future results and conditions. Although these statements are based on the Company’s current plans that are believed to be reasonable as of the date of this press release, a number of factors could cause actual results and conditions to differ materially from these forward-looking statements, including those factors described from time to time in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect any future events or otherwise, except as required by law.

    SOURCE: Gladstone Investment Corporation

    View the original press release on ACCESS Newswire

  • New Book Release: The Tree That Could Not Change

    New Book Release: The Tree That Could Not Change

    ATLANTA, Oct. 23, 2025 / PRZen / The Tree That Could Not Change is a children’s story that asks a simple question: what if you cannot do what everyone else seems to do? In the grove, the oaks are proud when autumn arrives. Their leaves turn yellow, orange, and red, and the forest celebrates with animals delaying their winter migration just to join in. All of this joy sets the stage for one small tree in the middle that has been waiting for this moment all year. It finally has green leaves after years of nothing, and now it wants to glow in shades of red like its neighbors. Spoiler: it does not.

    The young tree watches the older oaks change first. Then the others follow. Its moment comes. It pushes, it wills, it believes. Yet the leaves stay green. The animals notice. The oaks notice. The little tree notices most of all. It mumbles, “I don’t understand,” and that line just about sums up the heartbreak.

    Weeks pass. The tree works harder than any oak around. Some oaks offer advice, but most back away, confused and unsure. The season keeps moving without it. The oaks release their leaves. The little one cannot. Then comes snow. The weight bends its branches, the storm shakes it, and it starts to ask if it even matters.

    That moment when it almost breaks, something shifts. Under its bent limbs a blue jay seeks shelter. The tree, nearly crushed by its own failure, suddenly becomes a protector. That changes everything. The night is filled with chatter, the storm passes, and the bird leaves. But the tree is no longer only thinking about itself. It finds a purpose.

    From then on, each storm brings new animals. The tree bends but does not break. It grows into a role no one else in the grove can fill. By spring, it no longer cares about turning red. Word spreads. Animals come not to see colors but to find safety under its strong branches. The tree that once wished to be like everyone else becomes proud of what makes it different.

    This is not a story about being the brightest in the crowd. It is about surviving when it feels impossible, and finding worth in what only you can do. Children see a tree that tries, fails, hurts, and then finds meaning. Adults reading along will probably nod and think, “Yep, that’s life.”

    The pacing keeps the tension steady with storms, struggles, and survival. The main character is just a tree, yet it feels real because the problems are the same ones people face. Wanting to belong. Fearing being left behind. Learning that what makes you different might be exactly what others need.

    The Tree That Could Not Change is more than a seasonal tale. It is a reminder that not fitting in is not the end of the story. Sometimes, it is the beginning of what you were meant to be all along.

    Now available on Amazon.

    Press Release Distributed by PRLog

    Source: Noble Scholar

    Follow the full story here: https://przen.com/pr/33596509

  • TRUE Palliative Care Launches as California Strengthens Commitment to Compassionate Care Under SB 403

    TRUE Palliative Care Launches as California Strengthens Commitment to Compassionate Care Under SB 403

    Dr. Bob Uslander launched TRUE Palliative Care, providing personalized in-home support for people with serious or chronic illness.

    SAN DIEGO, Oct. 28, 2025 / PRZen / Following California’s landmark decision to make the End of Life Option Act permanent under Senate Bill 403, a new chapter of compassionate healthcare has begun.

    Today, palliative care pioneer Dr. Bob Uslander announced the official launch of TRUE Palliative Care (TPC), an evolution of in-home, whole-person care designed to support patients and families living with serious or chronic illness, long before hospice begins.

    An Evolution of Empowered Endings

    For over 37 years, Dr. Uslander has witnessed the emotional, physical, and spiritual complexities families face when illness changes everything.

    Born from the success and trusted reputation of Empowered Endings, which continues to guide families through life’s final chapter, TRUE Palliative Care expands that mission upstream.

    While Empowered Endings supports patients navigating the end of life through concierge care for patients on hospice, MAiD, and VSED, TRUE Palliative Care serves those living with serious, chronic, and progressive conditions such as cancer, dementia, Parkinson’s, heart and lung disease, ALS, liver and kidney disease, and complications of aging.

    What Makes TPC “TRUE”

    Unlike traditional palliative programs that often begin too late, TRUE Palliative Care begins earlier, alongside treatment, focusing on:

    • Relief that restores presence — Managing pain, fatigue, and symptoms so patients can return to living, not just surviving.
    • Clarity that replaces confusion — Translating complex medical decisions into aligned, values-based choices.
    • Support that listens before it leads — Building care plans that reflect what comfort truly means to each person.
    • Healing beyond medicine — Integrating complementary therapies such as massage, Reiki, music therapy, and grief support for full-spectrum healing.

    A Timely Shift Toward Humanized Healthcare

    The launch of TRUE Palliative Care aligns with California’s strengthened commitment to compassion and choice under SB 403, guaranteeing permanent access to informed, dignified end-of-life options.

    Dr. Uslander joined Senator Catherine Blakespear, Leslie Chinchilla, and Dan Diaz at the SB 403 Press Conference in Encinitas, representing the Empowered Endings Foundation in celebrating this milestone for patients, families, and providers statewide.

    “Healthcare should empower people to live with comfort, clarity, and connection, from diagnosis through every chapter that follows. The state’s decision underscores exactly what TPC stands for: care rooted in humanity, not hurry,” states Dr. Bob Uslander.

    About TRUE Palliative Care

    TRUE Palliative Care (TPC) is a physician-led, in-home healthcare service dedicated to transforming the experience of serious illness by helping patients and families live with more peace, comfort, and dignity. Founded by Dr. Bob Uslander, TPC is part of the Empowered Endings family, together pioneering a continuum of compassionate care that honors life’s full journey.

    Discover care that connects, when it counts.
    www.truepalliativecare.com

    Press Release Distributed by PRLog

    Source: TRUE Palliative Care

    Follow the full story here: https://przen.com/pr/33596915

  • Unusual Machines Provides Financing Update

    ORLANDO, FLORIDA / ACCESS Newswire / November 3, 2025 / Unusual Machines (NYSE American:UMAC), a leading provider of NDAA-compliant drone components, today provides a financing update based on the use of an at the market (ATM) financing for the month of October 2025.

    During the month of October 2025, Unusual Machines raised a total of $72,144,881 at an average price of $15.46 from the ATM. This reached the staircase financing targets based on the capital formation strategy Unusual Machines has previously discussed. A total of 4,666,600 shares were sold. This is the fourth financing Unusual Machines has done in the last year (Table 1) and proceeds will be used to continue to accelerate growth.

    Table 1: Unusual Machines’ Financings

    Month

    Share Price

    Total Gross Proceeds

    October 2024

    $1.52

    $1.96M

    May 2025

    $5.00

    $40.00M

    July 2025

    $9.70

    $48.50M

    October 2025

    $15.46*

    $72.14M

    *Average gross sales price

    “It’s remarkable to see how far we’ve come in just a year. We’ve grown our share price tenfold and invested significant capital to rapidly onshore the drone supply chain,” said Unusual Machines CEO Allan Evans. “This financing exceeded our expectations and marks another key step in Unusual Machines’ staircase strategy.”

    Unusual Machines earnings will be reported on November 6, 2025. For more information about the company or this financing, please join the earnings call or look for the shareholder letter that is typically sent out in conjunction with the earnings report.

    Safe Harbor Statement

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include the expectation that the proceeds will accelerate growth. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The results expected by some or all of these forward-looking statements may not occur. Factors that affect our ability to achieve these results include unexpected issues that may arise from the opening of our new Orlando manufacturing facility, potential supply chain issues, our ability to use the proceeds effectively, and the Risk Factors contained in our Form 10-Q for the period ended June 30, 2025, in our Prospectus Supplement dated September 2, 2025 and in our Form 10-K for the year ended December 31, 2024. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Any forward-looking statement made by us herein speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    About Unusual Machines

    Unusual Machines manufactures and sells drone components and drones across a diversified brand portfolio, which includes Fat Shark, the leader in FPV (first-person view) ultra-low latency video goggles for drone pilots. The Company also retails small, acrobatic FPV drones and equipment directly to consumers through the curated Rotor Riot ecommerce store. With a changing regulatory environment, Unusual Machines seeks to be a dominant Tier-1 parts supplier to the fast-growing multi-billion-dollar U.S. drone industry. According to Fact.MR, the global drone accessories market is currently valued at $17.5 billion and is set to top $115 billion by 2032. For more information, please visit www.unusualmachines.com.

    Investor Contact:
    CS Investor Relations
    investors@unusualmachines.com

    SOURCE: Unusual Machines, Inc.

    View the original press release on ACCESS Newswire

  • Elegant Kitchen and Bath Announces Service Area Expansion for Kitchen and Bathroom Remodeling Projects

    Elegant Kitchen and Bath Announces Service Area Expansion for Kitchen and Bathroom Remodeling Projects

    Herndon, Virginia – November 05, 2025 – PRESSADVANTAGE –

    Elegant Kitchen and Bath, a licensed contractor specializing in home renovation services, announces the expansion of its service coverage to meet increasing demand for kitchen and bathroom remodeling projects throughout Virginia. The expansion includes enhanced service availability in Ashburn and seventeen additional communities across the region.

    The company provides seven categories of remodeling services: basement remodeling, bathroom remodeling, countertop installation, decking, home addition remodeling, kitchen remodeling, and pergolas and winter gardens. Each project follows a standardized process beginning with consultation and design planning, followed by construction and installation phases.

    a stylish kitchen is renovated by kitchen remodeling contractor in Ashburn, VA

    For Kitchen Renovation Ashburn projects, the company employs a comprehensive project management approach that coordinates all construction phases from initial demolition through final installation. This includes coordination of plumbing, electrical work, and fixture placement. The single-contractor model reduces project timelines by an average of 20 percent compared to multi-contractor arrangements, according to industry data from the National Association of Home Builders.

    “The expansion allows us to serve more homeowners who require professional remodeling services,” said Arif Zararsız, Vice President of Elegant Kitchen and Bath. “We have structured our operations to provide consistent service delivery across all communities, ensuring each project receives appropriate resources and attention regardless of location.”

    The expansion comes as housing market data shows continued investment in home improvements across Virginia. The Remodeling Market Index indicates that professional remodeling activity in the region has increased 12 percent year-over-year, with kitchen and bathroom projects accounting for the majority of renovation spending.

    For Best Kitchen Remodeling Ashburn services, the company utilizes materials from established suppliers, including granite, marble, and quartz for countertops, along with cabinetry and flooring options. All installations follow Virginia building codes and industry standards established by the National Kitchen and Bath Association.

    “Each home presents specific structural and design considerations that require customized planning,” added Zararsız. “Our expansion enables us to apply our project management methodology to more communities while maintaining consistent quality standards across all service areas.”

    The company’s expanded service area now encompasses Herndon, Chantilly, Centreville, Reston, Sterling, Great Falls, Ashburn, Fairfax, McLean, Manassas, Haymarket, Burke, Vienna, Falls Church, Annandale, Springfield, Alexandria, and Arlington. This geographic expansion responds to growing regional demand for professional remodeling services, as recent industry reports indicate kitchen and bathroom renovations represent 35 percent of all home improvement projects in Virginia.

    As the Best Remodeling Company Virginia residents can access for comprehensive renovation projects, Elegant Kitchen and Bath maintains the required licensing and insurance coverage in accordance with state regulations. The company provides detailed project proposals with transparent pricing structures for all renovation work.

    Elegant Kitchen and Bath is a Virginia-based remodeling contractor providing renovation services for kitchens, bathrooms, basements, and home additions. The company combines design planning with construction services to deliver complete remodeling projects. Their team manages projects from initial consultation through final completion for residential clients throughout Virginia.

    ###

    For more information about Elegant Kitchen and Bath, contact the company here:

    Elegant Kitchen and Bath
    Elegant Kitchen and Bath LLC
    (703)-763-4277
    info@elegantkitchenbath.com
    2465 Centreville Rd. J21, Herndon, VA 20171

  • FZE Manufacturing Announces Official YouTube Channel to Expand Educational Resources and Industry Insights

    FZE Manufacturing Announces Official YouTube Channel to Expand Educational Resources and Industry Insights

    NORTH FOND DU LAC, WI – October 27, 2025 – PRESSADVANTAGE –

    FZE Manufacturing, a leader in providing innovative manufacturing solutions, today announces the availability of its official YouTube channel. This platform aims to enhance accessibility to the company’s expertise and industry insights through visual content tailored to diverse audiences interested in manufacturing processes, advancements, and best practices. The channel will serve as a centralized hub for educational content that addresses both fundamental concepts and emerging industry trends.

    FZE’s YouTube channel features a range of content, including tutorials, behind-the-scenes looks at manufacturing techniques, and expert interviews. By utilizing this medium, FZE Manufacturing seeks to engage with both seasoned professionals and newcomers to the field, fostering a comprehensive understanding of the industry’s evolving landscape. The content will be regularly updated to reflect current industry standards and technological developments, ensuring viewers receive the most relevant and timely information available.

    “This channel allows us to share valuable knowledge and connect with our audience more dynamically,” said Doug Pribyl, CEO of FZE Manufacturing. “We believe that visual storytelling can effectively demonstrate the complexities and innovations of our work.”

    The initiative reflects a growing trend among manufacturing companies harnessing digital platforms to reach broader audiences. As technology continues to reshape communication, FZE Manufacturing recognizes the need to adapt and leverage these channels for educational purposes. The company’s commitment to digital innovation extends beyond the YouTube channel to encompass a comprehensive strategy for multi-platform engagement.

    In addition to tutorials and discussions on manufacturing techniques, the channel includes profiles of various projects undertaken by the company, showcasing the practical applications of their solutions. By highlighting real-world scenarios, FZE Manufacturing aims to provide context and demonstrate the tangible impact of their innovations. These real-life studies will span multiple applications, illustrating the versatility and effectiveness of modern manufacturing approaches across different sectors

    “We want to bridge the gap between theory and practice,” Doug Pribyl CEO stated. “By showing how our technologies are applied in real-time, we hope to inspire and educate the next generation of manufacturers.” The company anticipates that this approach will attract a wider audience, including students and educators, interested in exploring manufacturing careers.

    Elemental to the vision for the channel is the commitment to ongoing learning and development within the industry. The content is designed to not only inform but also spark discussions among viewers, encouraging feedback and interaction. This approach aligns with FZE Manufacturing’s efforts to cultivate a knowledgeable community around manufacturing.

    As the channel grows, FZE Manufacturing plans to incorporate viewer suggestions into future content, enhancing the relevance and value of each video. The ability to adapt to audience preferences underscores the company’s focus on interactive engagement and education, ensuring content remains aligned with industry advancements. Interactive features such as comments and community posts will facilitate meaningful dialogue between the company and its audience.

    FZE Manufacturing invites viewers to subscribe to the channel for updates on new videos and content focused on various aspects of the manufacturing process. This innovative communication strategy seeks to foster a deeper appreciation for the complexities and achievements within the manufacturing sector. Subscribers will gain access to announcements of exclusive content and special announcements about company initiatives.

    The YouTube channel serves as a testament to FZE Manufacturing’s dedication to bridging the gaps in manufacturing education and workforce development. By leveraging modern technology, the company positions itself not only as a manufacturing leader but also as a source of valuable resources and insights for the industry at large.

    ###

    For more information about FZE Manufacturing Solutions LLC, contact the company here:

    FZE Manufacturing Solutions
    Doug Pribyl
    920-921-4084
    info@fzemanufacturing.com
    528 Harrison Court
    North Fond du Lac, WI 54937

  • The Light System Issues Statement of Support for Center Owner in EES Lawsuit

    The Light System Issues Statement of Support for Center Owner in EES Lawsuit

    October 22, 2025 – PRESSADVANTAGE –

    The Light System (TLS) has issued a formal statement regarding the lawsuit filed by Energy Enhancement Systems (EES) against center owner Susan Bowman, as first reported by LA Weekly. TLS affirms its support for Bowman and other practitioners who have invested in light and frequency-based wellness systems in good faith and who now face legal and financial pressure as a result of EES’s actions.

    According to LA Weekly, EES filed a lawsuit accusing Bowman of making unauthorized modifications to her system. Bowman has stated that many other center owners made similar adjustments without facing legal action. She believes that the real reason she was targeted is because she spoke publicly about the technology’s origins, pointing to evidence showing that Sandra Rose Michael is not the inventor, and identifying Robert J. Religa as the original creator.

    Religa, the documented inventor of the technology, and The Light System, his exclusive distribution partner, have filed a $100 million federal lawsuit against EES in the Eastern District of New York alleging copyright infringement and misrepresentation. That case seeks to protect Religa’s intellectual property rights and to ensure that center owners are treated fairly.

    The Light System supports center owners who have acted in good faith and who now find themselves facing legal action they should not have to bear. The Bowman case has drawn significant attention among center owners and industry observers, raising questions about EES’s treatment of its own customers. LA Weekly reported that other owners who made similar modifications were not sued, suggesting a selective legal strategy. Bowman has publicly stated that she was targeted because she discussed documented evidence of the true inventor’s identity, not because of any breach of contract.

    TLS’s involvement in the broader legal dispute is centered on defending Religa’s rights as the inventor and protecting practitioners from the consequences of actions that arise from misrepresentation or inconsistent enforcement. The company emphasized its position that legal action should not be used to silence individuals who share factual information or who operate their centers in good faith.

    The Light System stated that it will continue to cooperate with legal processes, present evidence where appropriate, and advocate for transparency and accountability in the industry. The company reaffirmed its support for center owners like Susan Bowman and for Robert J. Religa, the original inventor, whose rights are central to the pending federal litigation.

    The Light System believes that all parties in this industry should be held to the same standard of truth and fairness. Their focus is to ensure that the facts are clear, that the rights of the inventor are protected, and that practitioners are not punished for seeking or sharing the truth.

    Disclaimer: The information provided in this statement is for informational purposes only and reflects The Light System’s position regarding ongoing legal matters. It does not constitute legal advice or a legal determination of liability. All parties are presumed innocent unless and until proven otherwise in a court of law. The Light System makes no medical claims; its technology is not a medical device and is intended solely as a complementary wellness tool.

    About The Light System
    The Light System (TLS) is a U.S.-based wellness technology company specializing in energy-based systems that may support the body’s natural healing. Rooted in over 30 years of research, TLS combines photonic light collision, sacred geometry, light frequencies, and scalar fields to create immersive environments aimed at promoting clarity, calm, and energetic balance. While not a medical device, TLS is designed as a complementary tool for those exploring the energetic dimensions of well-being. For more information, visit thelightsystems.com and follow the company on Instagram at @thelight.system

    ###

    For more information about The Light System, contact the company here:

    The Light System
    The Light System
    media@thelightsystems.com

  • Unusual Machines Issues Letter to Shareholders

    Unusual Machines Issues Letter to Shareholders

    CEO Allan Evans Shares Q3 2025 Highlights and Provides Strategic Insight into the Company’s Plans

    ORLANDO, FLORIDA / ACCESS Newswire / November 6, 2025 / Unusual Machines, Inc. (NYSE American:UMAC) (“Unusual Machines” or the “Company”), a leading provider of NDAA-compliant drone components, today announced it filed its Form 10-Q with the U.S. Securities and Exchange Commission for the third quarter of 2025 and provided the following letter to its shareholders from CEO Allan Evans.

    Dear Shareholders,

    This shareholder letter follows the completion of our third quarter of 2025. It has been another record revenue quarter. It is also our first profitable quarter with a net gain of $0.05 per share. We achieved the highest margins in our history and saw great returns on our corporate investments. We closed a financing for $48.5 million of gross proceeds during the quarter and raised another $72.1 million in gross proceeds last month on our ATM. We want to take this opportunity to provide context and deeper insights into our business and discuss Unusual Machines’ future.

    Operations Update

    Unusual Machines revenue for the third quarter was about $2.13 million which represents a year over year increase for the quarter of approximately 39%. This is our best revenue quarter of all time for the sixth consecutive quarter and was achieved through increasing enterprise sales offsetting weak consumer demand. For the first quarter ever, enterprise sales exceeded 50% of our total revenue. This allowed us to continue to improve gross margins to 39% which represents our highest quarterly margins to date. We expect the increase in enterprise sales to continue throughout 2025 and extend into 2026. We already have more than $16 million in purchase order commitments that we expect to fulfill in Q4 of 2025 through Q2 of 2026. We have a variety of GAAP results that obscure cashflow including $2.1 million in non-cash stock compensation expense and $5.8 million in unrealized gains from our investment strategy. Our non-GAAP adjusted numbers for the third quarter after taking into account the non-cash and non-recurring items resulted in an adjusted net loss from operations of $0.9 million (see Table 2).

    Cash Position

    We prioritize managing our cash position and cash flow. We started the third quarter with $38.9 million and finished the quarter with $64.3 million. We have subsequently raised an additional $72.1 million in gross proceeds through our ATM in October. The breakdown of the cash position change over the quarter (see Table 1) provides greater detail into our expenses. Total expenses are increasing as we rapidly grow, and we expect it to take a few quarters until revenue and operational gains catch up. We still absolutely prioritize prudent spending and are seeking to get to being consistently cash flow positive in late 2026.

    Cap Table Changes

    The financings have changed our capitalization table substantially. Unusual Machines now has 36.8 million of common shares outstanding with no shareholder to our knowledge owning more than 9.9% of the total. We have over $133 million in cash as of today (which includes the ATM, but excludes investments and inventory), and $0 in debt. Given the cash position, limited cash burn, improving revenues, and diversified shareholder base; we believe the company is in a very strong position to continue to grow quickly.

    Looking Ahead

    Our priorities moving forward are clear:

    • Grow Revenue: We are being aggressive. This quarter enterprise sales overtook consumer sales and we have over $16 million in purchase orders that we plan on fulfilling in less than a year. We expect these bookings to continue to increase as the government reopens and more of the 2025 and 2026 U.S. Government fiscal budgets are spent on drones.

    • Grow the Company: We have been scaling as quickly as we can. On Monday, we onboarded 31 new employees to help build motors and drone kits. We have expanded from our initial 7,000 square feet and expect to have approximately 70,000 square feet under lease by the end of 2025 with 60,000 square feet dedicated to manufacturing and fulfillment of drone components.

    • Get to Cash Flow Positive : We were profitable this quarter, but we don’t expect that to consistently happen over the next year. We are growing with the focus of our efforts driving us toward positive cash flow once we have scaled to the next revenue milestones. Accounting for growth, we expect to need $30 million in an annual revenue run rate to reach this target and are working toward getting there in 2026.

    We are enthusiastic about the future of Unusual Machines. The company is in a great position to capitalize on enterprise sales and take advantage of macroeconomic factors to continue rapidly scaling. We are doing everything we can to capture market share and deliver great products for our customers. We appreciate you all for the confidence and support in our vision. Please reach out with any questions or comments.

    Sincerely,
    Allan Evans
    CEO of Unusual Machines

     

    Third Quarter Financial Results

    • Revenues totaled approximately $2.13 million for the three months ended September 30, 2025 as compared to $1.53 million for the three months ended September 30, 2024 which was a 39% increase for the third quarter year over year.

    • Revenues totaled approximately $6.30 million for the nine months ended September 30, 2025 as compared to pro forma revenue of $4.06 million for the nine months ended September 30, 2024, which represents a 55% increase for the first nine months year over year.

    • Gross margin for the third quarter was approximately 39%, which improved related to the increase in enterprise sales, increasing costs related to tariffs and expanding certain retail margins. Our gross margin for the first nine months of the year is approximately 34%.

    • Our loss from operations was approximately $4.9 million for the three months ended September 30, 2025 as compared to an operating loss of $1.4 million for the three months ended September 30, 2024. Included in this is non-cash stock compensation expense of $2.1 million and $0.4 million for the three months ended September 30, 2025 and 2024, respectively.

    • Interest income was $0.7 million for the three months ended September 30, 2025 related to interest earned from our cash balance which increased from our recent common stock offerings.

    • Unrealized gain from short term trading securities was $5.8 million for the three months ended September 30, 2025 related to investment gains from our investments made during the third quarter.

    • Net income attributable to common shareholders for the third quarter 2025 was approximately $1.6 million or $0.05 per share as compared to a net loss of approximately $2.1 million for the third quarter 2024 or $0.30 per share. The improvement in net income from a net loss position during the third quarter primarily related to the increase in our other income from unrealized gains in our short term trading securities and interest income.

    • We had approximately $64.3 million of cash as of September 30, 2025 as compared to $3.7 million as of December 31, 2024. The increase in cash primarily relates to our common stock offerings completed in May and July 2025 and cash exercise of warrants in February 2025. See table 1 for additional details.

    For further information concerning our financial results, see the tables attached to this shareholders’ letter.

    About Unusual Machines

    Unusual Machines manufactures and sells drone components and drones across a diversified brand portfolio, which includes Fat Shark, the leader in FPV (first-person view) ultra-low latency video goggles for drone pilots. The Company also retails small, acrobatic FPV drones and equipment directly to consumers through the curated Rotor Riot e-commerce store. With a changing regulatory environment, Unusual Machines seeks to be a dominant component supplier to the fast-growing multi-billion-dollar US drone industry and the global defense business. According to Fact.MR, the global drone accessories market is currently valued at $17.5 billion and is set to top $115 billion by 2032.

    For more information visit Unusual Machines at https://www.unusualmachines.com/.

    Safe Harbor Statement

    This shareholder letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements include: our expectation that we will improve gross margins, grow the Company and grow our revenues, expand enterprise sales throughout 2025 and extend into 2025, our ability to become cash flow positive and the timing, our ability to achieve rapid growth, our expectation concerning the impact from tariffs and achieve GAAP validation, that we will be successful leasing a new facility and expand our manufacturing footprint and build our headset production capabilities, our ability to anticipate market conditions, and the impact that the uncertain regulatory environment may have on our ability to accurately model for and grow our consumer business. The results expected by some or all of these forward-looking statements may not occur. Factors that affect our ability to achieve these results include our expectation that we will commence operations in our new Orlando manufacturing facility in September 2025, the continued availability of commercial real estate near our Orlando, Florida facilities, the availability of a satisfactory labor pool, potential supply chain issues, the impact from tariffs including inflation, and the Risk Factors contained in our Form 10-Q, filed with the SEC on May 8, 2025, Prospectus Supplement filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025 and in our Form 10-K for the year ended December 31, 2024. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Any forward-looking statement made by us herein speaks only as of the date on which it is made. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Contact:
    CS Investor Relations
    917-633-8980
    investors@unusualmachines.com

    Non-GAAP – Financial Measures

    This shareholder letter includes both financial measures in accordance with Generally Accepted Accounting Principles, or GAAP, as well as non-GAAP financial measures. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position or cash flows that either excludes or includes amounts that are not normally included or excluded in the most directly comparable measure calculated and presented in accordance with GAAP. Non-GAAP financial measures should be viewed as supplemental to, and should not be considered as alternatives to net income (loss), operating income (loss), and cash flow from operating activities, liquidity or any other financial measures. They may not be indicative of the historical operating results of the Company nor are they intended to be predictive of potential future results. Investors should not consider non-GAAP financial measures in isolation or as substitutes for performance measures calculated in accordance with GAAP.

    Our management uses and relies on adjusted net loss, which is a non-GAAP financial measure. We believe that management, analysts, and shareholders benefit from referring to the following non-GAAP financial measure to evaluate and assess our core operating results from period-to-period after removing the impact of items that affect comparability. Our management recognizes that the non-GAAP financial measure has inherent limitations because of the excluded items described below.

    We have included in Table 2 a reconciliation of our non-GAAP financial measure to the most comparable financial measure calculated in accordance with GAAP. We believe that providing the non-GAAP financial measure, together with reconciliation to GAAP, helps investors make comparisons between the Company and other companies. In making any comparisons to other companies, investors need to be aware that companies use different non-GAAP measures to evaluate their financial performance.

    Table 1

    Cash balance at June 30, 2025

    $

    38.9M
    Q3 cash financings:
    Registered direct offering

    44.9M
    Employee stock option exercises

    0.2M
    Interest income

    0.7M
    Q3 cash spend:
    Normal operations

    (1.0M)
    Non-recurring legal and transaction expenses

    (0.3M)
    Non-recurring investor relations

    (0.9M)
    Inventory build up

    (6.0M)
    Motor facility equipment purchases

    (1.3M)
    Short-term investments

    (11.0M)
    Cash Balance at September 30, 2025

    $

    64.3M

    Table 2

    Net income for three months ended September 30, 2025

    $

    1.6M
    Q3 non-cash income and expenses for the three months ended September 30, 2025:
    Stock compensation expense

    2.1M
    Unrealized gains from short term investments

    ($5.8M)
    Q3 non-recurring expenses for the three months ended September 30, 2025:
    Investor relations

    0.9M
    Legal expenses related to acquisitions

    0.3M
    Adjusted net loss for the three months ended September 30, 2025

    $

    (0.9M)

    Unusual Machines, Inc.
    Consolidated Condensed Balance Sheets

    September 30,
    2025

    December 31,
    2024

    (Unaudited)
    ASSETS
    Current assets:
    Cash and cash equivalents

    $

    64,285,750

    $

    3,757,323
    Short-term investments

    16,849,713

    –
    Accounts receivable

    309,544

    66,575
    Inventories

    3,118,491

    1,335,503
    Prepaid inventory

    6,921,679

    904,728
    Other current assets

    218,871

    31,500
    Total current assets

    91,704,048

    6,095,629
    Non-current assets:
    Property and equipment, net

    1,728,661

    570
    Operating lease right-of-use asset, net

    1,268,278

    323,514
    Other assets

    84,693

    59,426
    Goodwill

    7,402,906

    7,402,906
    Intangible assets, net

    2,164,264

    2,225,530
    Unallocated purchase price provisional, Rotor Lab (See note 3)

    8,725,968

    –
    Total non-current assets

    21,374,770

    10,011,946
    Total assets

    $

    113,078,818

    $

    16,107,575
    LIABILITIES AND STOCKHOLDERS’ EQUITY
    Current liabilities
    Accounts payable and accrued expenses

    $

    1,167,242

    $

    668,732
    Operating lease liability

    247,957

    67,820
    Deferred revenue

    1,518,736

    197,117
    Contingent consideration

    3,000,000

    –
    Total current liabilities

    5,933,935

    933,669
    Non-current liabilities
    Deferred tax liability

    93,793

    93,793
    Operating lease liability – non-current

    1,035,175

    262,171
    Total non-current liabilities

    1,128,968

    355,964
    Total liabilities

    7,062,903

    1,289,633
    Commitments and contingencies (See note 13)
    Stockholders’ equity:
    Preferred stock – $0.01 par value, 10,000,000 authorized (See note 10)
    Series A preferred stock – $0.01 par value, 4,250 designated and 0 and 0 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively

    –

    –
    Series B preferred stock – $0.01 par value, 1,000 designated and 0 and 0 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively

    –

    –
    Series C preferred stock – $0.01 par value, 3,000 designated and 0 and 0 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively

    –

    –
    Common stock – $0.01 par value, 500,000,000 authorized and 31,568,949 and 15,122,018 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively

    315,688

    151,221
    Additional paid in capital

    150,239,016

    50,580,235
    Accumulated deficit

    (44,541,067

    )

    (35,913,514

    )
    Cumulative foreign currency translation adjustment

    2,278

    –
    Total stockholders’ equity

    106,015,915

    14,817,942
    Total liabilities and stockholders’ equity

    $

    113,078,818

    $

    16,107,575

    Unusual Machines, Inc.
    Consolidated Condensed Statement of Operations
    For the Three and Nine Months Ended September 30, 2025 and 2024
    (Unaudited)

    Three months ended September 30,

    Nine months ended September 30,

    2025

    2024

    2025

    2024
    Revenues

    $

    2,134,588

    $

    1,531,264

    $

    6,300,857

    $

    3,561,303
    Cost of goods sold

    1,294,200

    1,131,777

    4,168,984

    2,569,209
    Gross Margin

    840,388

    399,487

    2,131,873

    992,094
    Operating Expenses
    Operations

    636,705

    218,126

    1,343,584

    544,220
    Research and development

    39,369

    15,000

    110,002

    42,078
    Sales and marketing

    373,539

    252,253

    883,514

    795,643
    General and administrative

    4,730,063

    1,374,989

    15,151,160

    3,728,749
    Depreciation and amortization

    22,449

    171

    63,635

    513
    Total operating expenses

    5,802,125

    1,860,539

    17,551,894

    5,111,203
    Loss from operations

    (4,961,737

    )

    (1,461,052

    )

    (15,420,021

    )

    (4,119,109

    )
    Other income and (expense)
    Interest income

    715,489

    180

    942,755

    180
    Unrealized gain in short term investments

    5,849,713

    –

    5,849,713

    –
    Interest expense

    –

    (41,465

    )

    –

    (101,648

    )
    Loss on debt extinguishment

    –

    (685,151

    )

    –

    (685,151

    )
    Change in fair value of derivatives and warrant liabilities

    –

    43,238

    –

    43,238
    Other income and (expense)

    6,565,202

    (683,198

    )

    6,792,468

    (743,381

    )
    Net income (loss)

    $

    1,603,465

    $

    (2,144,250

    )

    $

    (8,627,553

    )

    $

    (4,862,490

    )

    Net income (loss) per share attributable to common stockholders
    Basic

    $

    0.05

    $

    (0.30

    )

    $

    (0.38

    )

    $

    (0.63

    )
    Diluted

    $

    0.05

    $

    (0.30

    )

    $

    (0.38

    )

    $

    (0.63

    )
    Weighted average common shares outstanding
    Basic

    30,002,179

    7,147,866

    22,610,516

    7,749,285
    Diluted

    30,581,194

    7,147,866

    22,610,516

    7,749,285

    Unusual Machines, Inc.
    Consolidated Condensed Statement of Changes in Stockholders’ Equity
    For the Three and Nine Months Ended September 30, 2025 and 2024
    (Unaudited)

    Three and Nine Months Ended September 30, 2024

    Series A, Preferred Stock

    Series B, Preferred Stock

    Series C, Preferred Stock

    Common Stock

    Additional Paid-In

    Accumulated

    Total Stockholders’

    Shares

    Value

    Shares

    Value

    Shares

    Value

    Shares

    Value

    Capital

    Deficit

    Equity
    Balance, December 31, 2023

    –

    $

    –

    190

    $

    2

    –

    $

    –

    3,217,255

    $

    32,173

    $

    5,315,790

    $

    (3,933,046

    )

    $

    1,414,919
    Issuance of common shares as settlement

    –

    –

    –

    –

    –

    –

    16,086

    161

    64,183

    –

    64,344
    Issuance of common shares, initial public offering, net of offering costs

    –

    –

    –

    –

    –

    –

    1,250,000

    12,500

    3,837,055

    –

    3,849,555
    Issuance of common shares, business combination

    –

    –

    –

    –

    –

    –

    4,250,000

    42,500

    16,957,500

    –

    17,000,000
    Conversion of preferred shares

    –

    –

    (120

    )

    (1

    )

    –

    –

    600,000

    6,000

    (5,999

    )

    –

    –
    Net loss

    –

    –

    –

    –

    –

    –

    –

    –

    –

    (1,106,002

    )

    (1,106,002

    )
    Balance, March 31, 2024

    –

    $

    –

    70

    $

    1

    –

    $

    –

    9,333,341

    $

    93,334

    $

    26,168,529

    $

    (5,039,048

    )

    $

    21,222,816
    Conversion of preferred shares

    –

    –

    (20

    )

    –

    –

    –

    100,000

    1,000

    (1,000

    )

    –

    –
    Issuance of common shares, equity incentive plan

    –

    –

    –

    –

    –

    –

    977,899

    9,779

    (9,779

    )

    –

    –
    Stock compensation expense – vested stock

    –

    –

    –

    –

    –

    –

    –

    –

    346,854

    –

    346,854
    Stock option compensation expense

    –

    –

    –

    –

    –

    –

    –

    –

    14,389

    –

    14,389
    Net loss

    –

    –

    –

    –

    –

    –

    –

    –

    –

    (1,612,238

    )

    (1,612,238

    )
    Balance, June 30, 2024

    –

    $

    –

    50

    $

    1

    –

    $

    –

    10,411,240

    $

    104,113

    $

    26,518,993

    $

    (6,651,286

    )

    $

    19,971,821
    Issuance of common shares, equity incentive plan

    –

    –

    –

    –

    –

    –

    23,743

    237

    (237

    )

    –

    –
    Exchange of common shares for Series A preferred

    4,250

    43

    –

    –

    –

    –

    (4,250,000

    )

    (42,500

    )

    42,457

    –

    –
    Exchange of convertible note for Series C preferred

    –

    –

    –

    –

    210

    2

    –

    –

    999,998

    –

    1,000,000
    Stock compensation expense – vested stock

    –

    –

    –

    –

    –

    –

    –

    –

    375,345

    –

    375,345
    Stock option compensation expense

    –

    –

    –

    –

    –

    –

    –

    –

    23,086

    –

    23,086
    Net loss

    –

    –

    –

    –

    –

    –

    –

    –

    –

    (2,144,250

    )

    (2,144,250

    )
    Balance, September 30, 2024

    4,250

    $

    43

    50

    $

    1

    210

    $

    2

    6,184,983

    $

    61,850

    $

    27,959,642

    $

    (8,795,536

    )

    $

    19,226,002

    Unusual Machines, Inc.
    Consolidated Statement of Changes in Stockholders’ Equity
    For the Three and Nine Months September 30, 2025 and 2024
    (Unaudited)

    Three and Nine Months Ended September 30, 2025

    Series A, Preferred Stock

    Series B, Preferred Stock

    Series C, Preferred Stock

    Common Stock

    Additional Paid-In

    Accumulated
    Other Comprehensive
    Accumulated

    Total Stockholders’

    Shares

    Value

    Shares

    Value

    Shares

    Value

    Shares

    Value

    Capital

    Deficit

    Income

    Equity
    Balance, December 31, 2024

    –

    $

    –

    –

    $

    –

    –

    $

    –

    15,122,018

    $

    151,221

    $

    50,580,235

    $

    (35,913,514

    )

    $

    –

    $

    14,817,942
    Issuance of common shares, equity incentive plan

    –

    –

    –

    –

    –

    –

    483,546

    4,835

    (4,835

    )

    –

    –

    –
    Issuance of common shares for exercise of warrants

    –

    –

    –

    –

    –

    –

    1,224,606

    12,246

    2,424,720

    –

    –

    2,436,966
    Stock compensation expense – vested stock

    –

    –

    –

    –

    –

    –

    –

    –

    1,883,433

    –

    –

    1,883,433
    Stock compensation expense

    –

    –

    –

    –

    –

    –

    –

    –

    22,940

    –

    –

    22,940
    Net loss

    –

    –

    –

    –

    –

    –

    –

    –

    (3,266,279

    )

    –

    (3,266,279

    )
    Balance, March 31, 2025

    –

    $

    –

    –

    $

    –

    –

    $

    –

    16,830,170

    $

    168,302

    $

    54,906,493

    $

    (39,179,793

    )

    $

    –

    $

    15,895,002
    Issuance of common shares, Management/BOD

    –

    –

    –

    –

    –

    –

    208,336

    2,082

    (2,082

    )

    –

    –

    –
    Issuance of common shares, Option exercises

    –

    –

    –

    –

    –

    –

    94,650

    947

    366,923

    –

    –

    367,870
    Issuance of common shares, consulting services

    –

    –

    –

    –

    –

    –

    4,630

    46

    (46

    )

    –

    –

    –
    Issuance of common shares, advisory board

    –

    –

    –

    –

    –

    –

    150,000

    1,500

    (1,500

    )

    –

    –

    –
    Issuance of common shares, public offering

    –

    –

    –

    –

    –

    –

    8,000,000

    80,000

    36,416,000

    –

    –

    36,496,000
    Stock option compensation expense

    –

    –

    –

    –

    –

    –

    –

    –

    576,831

    –

    –

    576,831
    Stock Compensation expense – vested stock

    –

    –

    –

    –

    –

    –

    –

    –

    4,936,497

    –

    –

    4,936,497
    Net loss

    –

    –

    –

    –

    –

    –

    –

    –

    –

    (6,964,739

    )

    –

    (6,964,739

    )
    Balance, June 30, 2025

    –

    $

    –

    –

    $

    –

    –

    $

    –

    25,287,786

    $

    252,877

    $

    97,199,116

    $

    (46,144,532

    )

    $

    –

    51,307,461
    Issuance of common shares, Management/BOD

    –

    –

    –

    –

    –

    –

    589,232

    5,892

    (5,892

    )

    –

    –

    –
    Issuance of common shares, Option exercises

    –

    –

    –

    –

    –

    –

    25,250

    253

    133,487

    –

    –

    133,740
    Issuance of common shares, consulting services

    –

    –

    –

    –

    –

    –

    1,539

    15

    (15

    )

    –

    –

    –
    Issuance of common shares, public offering

    –

    –

    –

    –

    –

    –

    5,000,000

    50,000

    44,851,000

    –

    –

    44,901,000
    Issuance of common shares, Rotor Lab acquisition

    –

    –

    –

    –

    –

    –

    656,642

    6,566

    5,916,345

    –

    –

    5,922,911
    Issuance of common shares – warrant exercises

    –

    –

    –

    –

    –

    –

    8,500

    85

    42,415

    –

    –

    42,500
    Stock compensation expense

    –

    –

    –

    –

    –

    –

    –

    –

    114,960

    –

    –

    114,960
    Stock compensation expense – vested stock

    –

    –

    –

    –

    –

    –

    –

    –

    1,987,600

    –

    –

    1,987,600
    Net income

    –

    –

    –

    –

    –

    –

    –

    –

    –

    1,603,465

    –

    1,603,465
    Equity adjustment from foreign currency translation

    –

    –

    –

    –

    –

    –

    –

    –

    –

    –

    2,278

    2,278
    Balance, September 30, 2025

    –

    $

    –

    –

    $

    –

    –

    $

    –

    31,568,949

    $

    315,688

    $

    150,239,016

    $

    (44,541,067

    )

    $

    2,278

    $

    106,015,915

    Unusual Machines, Inc.
    Consolidated Condensed Statement of Cash Flows
    For the Nine Months Ended September 30, 2025 and 2024
    (Unaudited)

    Nine Months Ended September 30,

    2025

    2024
    Cash flows from operating activities:
    Net loss

    $

    (8,627,553

    )

    $

    (4,862,490

    )
    Depreciation and amortization

    63,635

    513
    Stock compensation expense as settlement

    –

    64,344
    Stock compensation expense

    9,522,261

    759,673
    Unrealized gains from short term investments

    (5,849,713

    )

    –
    Bad debt

    12,146

    –
    Change in fair value for warrant and derivative liabilities

    –

    (43,239

    )
    Loss on debt extinguishment, non-cash component

    –

    663,250
    Change in assets:
    Accounts receivable

    (122,696

    )

    (73,109

    )
    Inventory

    (1,746,100

    )

    337,562
    Prepaid inventory

    (6,016,951

    )

    (319,532

    )
    Other assets

    (165,529

    )

    (29,100

    )
    Operating lease right-of-use asset

    72,202

    –
    Change in liabilities:
    Accounts payable and accrued expenses

    406,399

    630,595
    Operating lease liabilities

    (80,346

    )

    (33,056

    )
    Customer deposits and other current liabilities

    1,137,953

    186,076
    Net cash used in operating activities

    (11,394,294

    )

    (2,718,513

    )
    Cash flows from investing activities
    Cash portion of consideration paid for acquisition of businesses, net of cash received

    93,054

    (852,801

    )
    Investments in short term securities

    (11,000,000

    )

    –
    Purchases of property and equipment

    (1,550,687

    )

    –
    Net cash used in investing activities

    (12,457,633

    )

    (852,801

    )
    Cash flows from financing activities:
    Proceeds from issuance of common shares, IPO

    –

    5,000,000
    Proceeds from issuance of common shares, public offering

    40,000,000

    –
    Proceeds from issuance of common shares, registered direct

    48,500,000

    –
    Proceeds from option exercises

    501,610

    –
    Proceeds from issuance of common shares, warrant exercises

    2,479,466

    –
    Common share issuance offering costs

    (7,103,000

    )

    (637,687

    )
    Net cash provided by financing activities

    84,378,076

    4,362,313
    Net increase in cash

    60,526,149

    790,999
    Effect of exchange rate changes on cash

    2,278

    –
    Cash, beginning of period

    3,757,323

    894,773
    Cash, end of period

    $

    64,285,750

    $

    1,685,772
    Supplemental disclosures of cash flow information:
    Non-cash consideration paid for assets acquired and liabilities assumed

    $

    8,922,911

    $

    19,000,000
    Non-cash right of use asset and liability

    $

    973,443

    $

    –
    Deferred acquisition costs

    $

    –

    $

    100,000
    Deferred offering costs recorded as reduction of proceeds

    $

    –

    $

    512,758

    SOURCE: Unusual Machines, Inc.

    View the original press release on ACCESS Newswire

  • Elite Auto Works Responds to Growing Demand for PPF Services in California

    SACRAMENTO, CA – October 22, 2025 – PRESSADVANTAGE –

    Elite Auto Works, a Sacramento-based automotive protection specialist, reports continued growth in demand for Paint Protection Film applications as California drivers increasingly prioritize preventive vehicle care over reactive paint repairs. The company attributes this trend to heightened awareness about the long-term cost benefits of protecting factory paint from environmental damage.

    The surge in PPF interest reflects a broader shift in how vehicle owners approach automotive maintenance. Rather than waiting for paint damage to occur from road debris, UV exposure, and environmental contaminants, drivers are choosing proactive protection that maintains their vehicle’s appearance and resale value. Elite Auto Works CA has positioned itself to meet this demand through precision installation techniques and partnerships with leading film manufacturers.

    Paint protection

    “We’re seeing a fundamental change in how California drivers think about vehicle maintenance,” said Ryan Schiller, founder and CEO of Elite Auto Works. “The harsh sun exposure and road conditions here make paint protection particularly valuable. Our clients understand that investing in quality PPF Service today prevents thousands of dollars in paint correction and refinishing costs down the road.”

    Paint Protection Film technology has evolved significantly in recent years, with modern films offering self-healing properties that allow minor scratches to disappear with heat exposure. The films also provide UV protection that prevents paint oxidation and fading, a common concern in California’s intense sunlight. These advancements have made PPF an increasingly attractive option for both luxury and everyday vehicles.

    Elite Auto Works offers comprehensive coverage options ranging from partial front protection to full-body applications. The company uses premium films including STEK DYNOshield and STEK DYNOmatt, both featuring advanced protective properties and multi-year warranties. The DYNOshield provides a glossy finish with a 10-year warranty, while the DYNOmatt offers a sophisticated matte appearance backed by a 7-year warranty.

    Beyond paint protection, the company has expanded its protective services to include ceramic coatings, window tinting, and windshield protection films. This comprehensive approach allows vehicle owners to create multiple layers of defense against environmental damage. The ceramic coating services add hydrophobic properties that repel water and contaminants, while window tinting reduces interior heat and UV exposure.

    The company’s growth mirrors industry data showing increased consumer investment in vehicle protection services nationwide. As new vehicle prices remain elevated and supply chain challenges persist, more owners are choosing to preserve their current vehicles rather than pursue frequent replacements.

    Elite Auto Works CA maintains facilities in Sacramento and Granite Bay, serving Northern California with a range of automotive protection and enhancement services. The company has established partnerships with premium product manufacturers including Ceramic Pro, 3M Window Films, and serves as one of the few Northern California dealers for HRE wheels. Through these partnerships and a focus on installation excellence, the company continues to meet the evolving needs of California vehicle owners seeking to protect their automotive investments.

    ###

    For more information about Elite Auto Works, contact the company here:

    Elite Auto Works
    Ryan Schiller
    (916) 693-1071
    info@eliteautoworksca.com
    4555 Auburn Blvd #5, Sacramento, CA 95841

  • Western Announces New Chief Actuary

    TORONTO, ON / ACCESS Newswire / November 3, 2025 / The Western Investment Company of Canada Limited (TSXV:WI) (“Western“) is pleased to announce the appointment of Keith Lau as Chief Actuary.

    Mr. Lau is an accomplished actuarial leader with over ten years of experience in the Canadian property and casualty insurance sector. He brings significant expertise in pricing, reserving and reporting and provides a valuable strategic addition to Western’s growing decentralized insurance platform.

    Before joining Western, Mr. Lau served in a range of actuarial roles, most recently as Cover Genius’ Head of Americas Pricing, where he helped to establish and scale the company’s actuarial function in North America. Before his tenure at Cover Genius, Mr. Lau held various roles of escalating responsibility in the actuarial practice at PwC, where he led actuary and audit engagements, played a central role in IFRS 17 implementation and served as a trusted advisor to executive teams on matters related to capital, reserves and solvency. Mr. Lau also spent time at RSA Insurance as a Senior Actuarial Analyst on the pricing team. Mr. Lau holds a Bachelor of Mathematics from the University of Waterloo and is a Fellow of the Casualty Actuarial Society and the Canadian Institute of Actuaries.

    As Chief Actuary at Western, Mr. Lau will partner closely with Western’s finance and accounting functions to apply actuarial best practices and ensure compliance with regulatory requirements. Mr. Lau will oversee Western and its subsidiaries’ actuarial operations, including reserving, capital modelling, reviewing and maintaining liquidity, rating and reporting.

    “I am delighted to welcome Keith to Western’s executive team. His proven experience across both high-growth businesses and regulated environments aligns strongly with Western’s long-term strategic objectives and will help us to drive Western’s continued success,” said Paul Rivett, Chief Executive Officer of Western.

    As part of Mr. Lau’s compensation, Western has agreed to grant 806,452 restricted share units (RSUs) priced at $0.62 per share.  Fifty percent of these RSUs will cliff vest after five years, with the balance cliff vesting after 10 years.  The grant of these RSUs is subject to approval by the TSXV. It is Western’s expectation that the shares necessary to support these RSUs will be purchased in the open market and will not be issued from treasury.

    About The Western Investment Company of Canada Limited

    Western is an insurance and investment holding company focused on decentralized ownership of insurance businesses and centralized investment management. Western’s shares are traded on the Toronto Venture Exchange under the symbol WI.

    For more information on Western, please visit its website at www.westerninvest.ca.

    To add yourself to Western’s email news alert subscription please visit this link.

    CONTACT INFORMATION

    For Investor Relations questions, please email investorrelations@winv.ca.

    Advisories

    This news release may contain certain forward-looking information and statements, including without limitation statements pertaining to future results and plans for Western and its associated companies, acquisitions, financings and returns. Statements containing the words: ‘believes’, ‘intends’, ‘expects’, ‘plans’, ‘seeks’ and ‘anticipates’ and any other words of similar meaning are forward-looking. All statements included herein involve various risks and uncertainties because they relate to future events and circumstances beyond Western’s control.

    The forward-looking statements are based on certain key expectations and assumptions made by Western, including expectations and assumptions concerning the ability of Western to successfully implement its strategic plans and initiatives.

    Although Western believes that the expectations and assumptions on which the forward-looking statements made by Western are based are reasonable, undue reliance should not be placed on the forward-looking statements because no assurance can be provided that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks relating to regulatory compliance, risks relating to demand for the products and services provided by Fortress Insurance and other portfolio companies, risks relating to future growth prospects and business opportunities, risks that management is not able to execute its business strategy, and the impact of general economic conditions in Canada and the United States. A description of additional assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Western’s disclosure documents on the SEDAR+ website at www.sedarplus.com.

    The forward-looking statements contained in this news release are made as of the date hereof and Western undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

    This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

    “Neither the TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.“

    SOURCE: The Western Investment Company of Canada Limited

    View the original press release on ACCESS Newswire