Author: Ravi Shankar

LAS VEGAS, Nevada, Oct. 22, 2026 (GLOBE NEWSWIRE) — Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (“CPS” or the “Company”) today announced that it will hold a conference call on Monday, October 26, 2026 at 1:00 p.m. ET to discuss its third quarter 2026 operating results.

Those wishing to participate can pre-register for the conference call at the following link https://register-conf.media-server.com/register/BI87f6cd84ada240bc85917c79cf055d45 . Registered participants will receive an email containing conference call details for dial-in options. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the schedule start time. A replay will be available beginning two hours after conclusion of the call for 12 months via the Company’s website at https://ir.consumerportfolio.com/investor-relations.

About Consumer Portfolio Services, Inc.

Consumer Portfolio Services, Inc. is an independent specialty finance company that provides indirect automobile financing to individuals with past credit problems or limited credit histories. We purchase retail installment sales contracts primarily from franchised automobile dealerships secured by late model used vehicles and, to a lesser extent, new vehicles. We fund these contract purchases on a long-term basis primarily through the securitization markets and service the contracts over their lives.

Investor Relations Contact

Danny Bharwani, Chief Financial Officer

949-753-6811

RENO, Nev., Oct. 22, 2026 (GLOBE NEWSWIRE) — Plumas Bancorp (Nasdaq: PLBC), the parent company of Plumas Bank (the “Bank”), today announced that the Board of Directors declared a regular quarterly cash dividend on Plumas Bancorp common stock of $0.33 per share, payable November 17, 2026, to stockholders of record as of November 3, 2026.

About Plumas Bancorp

Plumas Bank is a subsidiary of Plumas Bancorp (NASDAQ: PLBC), a bank holding company headquartered in Reno, Nevada. Plumas Bank is a locally managed, award-winning community bank founded in 1980 and headquartered in Quincy, California. With 18 branch offices in Northeastern California and Northern Nevada, and loan production offices in California and southern Oregon, Plumas Bank is one of the top performing community banks in the country. For more information regarding Plumas Bancorp and Plumas Bank, visit plumasbank.com.

Except for the historical information contained herein, the matters discussed in this news release are forward-looking statements that involve the risks and uncertainties, including the timely availability and acceptance of Bank products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the Bank’s publicly available regulatory reports.

Contact: Jamie Huynh
Administrative Coordinator
Plumas Bank
5525 Kietzke Lane Ste. 100
Reno, NV 89511
775.786.0907 x8908
investorrelations@plumasbank.com

HAMPSTEAD, Md., Oct. 22, 2026 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent company of Farmers and Merchants Bank (the “Bank” and, together with the Company, “we”, “us” and “our”), announced that net income for the nine months ended September 30, 2026 was $5.7 million, or $1.76 per common share (basic and diluted), compared to $4.1 million, or $1.28 per common share (basic and diluted), for the same period in 2025. The Company’s annualized return on average assets during the nine months ended September 30, 2026 was 0.88% compared to 0.65% for the same period in 2025. The Company’s annualized return on average equity during the nine months ended September 30, 2026 was 11.58% compared to 9.24% for the same period in 2025.

Net income for the three months ended September 30, 2026 was $2.0 million, or $0.62 per common share (basic and diluted), compared to $1.7 million, or $0.53 per common share (basic and diluted), for the third quarter of 2025. The Company’s annualized return on average assets during the three months ended September 30, 2026 was 0.92% compared to 0.80% for the same period in 2025. The Company’s annualized return on average equity during the three months ended September 30, 2026 was 12.48% compared to 11.23% for the same period in 2025.           

Net interest income for the nine months ended September 30, 2026 was $2.9 million higher when compared to the same period in 2025 due to a widening net yield on interest-earning assets of 3.32% for the nine months ended September 30, 2026 compared to 2.98% for the same period in 2025. The yield on earning assets increased to 5.40% for the nine months ended September 30, 2026, compared to 5.19% for the same period in 2025. The cost of interest bearing liabilities decreased to 2.58% for the nine months ended September 30, 2026, down from 2.70% for the same period in 2025. Average interest earning assets were $837.0 million for the nine months ended September 30, 2026 compared to $804.3 million for the same period in 2025. Gross interest income increased by $2.6 million to $33.7 million for the nine months ended September 30, 2026, up from $31.1 million for the same period in 2025. Average interest bearing liabilities increased by $14.9 million to $672.7 million for the nine months ended September 30, 2026 from $657.8 million for the same period in 2025. Total interest expense decreased slightly to $13.0 million for the nine months ended September 30, 2026 compared to $13.3 million for the same period in 2025.

The Company did not record a provision for credit losses for the nine months ended September 30, 2026. There was a $595 thousand provision recorded for the nine months ended September 30, 2025 which was related to a write down of one loan that was ultimately foreclosed upon.

Noninterest income decreased by $46 thousand for the nine months ended September 30, 2026 when compared to the same period in 2025. The decrease was due to several factors, including the non-recurrence of a gain on the settlement of a fair value hedge of $94 thousand in 2025, a $22 thousand decrease in service charges on deposit accounts, the non-reccurance of a gain on insurance proceeds of $73 thousand, and a $41 thousand decrease in the fair value adjustment of an equity security. These were offset by a $29 thousand increase in mortgage banking revenue, a $74 thousand increase in bank owned life insurance income, an increase in the gain on the sale of SBA loans of $13 thousand, and a $68 thousand increase in other fees and commissions. Noninterest expense was $917 thousand higher for the nine months ended September 30, 2026 when compared to the same period in 2025, due primarily to a $730 thousand increase in salaries and benefits resulting from new staffing additions and incentives. Also contributing to the increase was a $230 thousand combined increase in occupancy and furniture and equipment costs, an increase in ATM and debit card expenses of $86 thousand, and a $160 thousand increase in other expenses. These increases were offset in part by year over year decreases in FDIC assessments of $188 thousand, professional services of $54 thousand, advertising costs of $41 thousand, postage of $5 thousand, and other real estate owned expenses of $1 thousand.

Total assets decreased to $865.4 million at September 30, 2026 from $872.0 million at December 31, 2025. Loans, net of the allowance for credit losses, increased to $655.0 million at September 30, 2026 from $633.1 million at December 31, 2025. Investments in debt securities decreased to $124.0 million at September 30, 2026 from $139.8 million at December 31, 2025. Deposits decreased to $716.0 million at September 30, 2026 from $720.5 million at December 31, 2025.   Total borrowings decreased by $4.6 million to $74.4 million at September 30, 2026, down from $79.0 million at December 31, 2025. The decrease was primarily due to the Company repaying $5.0 million in Federal Home Loan Bank advances.

The book value of the Company’s common stock increased to $20.70 per share at September 30, 2026 from $20.02 per share at December 31, 2025. Book value per share at September 30, 2026 was reflective of the $15.0 million unrealized loss, net of income taxes, on the Bank’s available for sale (“AFS”) securities portfolio as a result of the rise in interest rates since the time of purchase. Changes in the market value of the AFS securities portfolio, net of income taxes, are reflected in the Company’s equity, but are not included in the income statement. The Company’s tangible equity was $60.6 million at September 30, 2026 compared to $57.6 million at December 31, 2025.

Gary A. Harris, President and CEO, commented “Our results through the first nine months of 2026 reflect the progress we’re making across the Bank, with net income increasing 41.2% over the same period last year and loan growth of approximately $33 million year over year. For us, growth is about more than getting bigger. It’s about becoming a better bank for the people and businesses who count on us. That means investing in our team, strengthening our capabilities, and making it easier for customers to do business with us, while preserving the personal relationships that have defined Farmers and Merchants for more than a century.”

About the Company

The Company is the financial holding company for Farmers and Merchants Bank, a Maryland-chartered community bank headquartered in Hampstead, Maryland. Founded in 1919, the Bank has served the deposit, lending, and financial needs of consumers and businesses across Carroll and Baltimore Counties for more than a century. The Bank operates eight locations along Routes 30, 795, 140, 26, and 45 corridors, including offices in Hampstead, Upperco, Owings Mills, Reisterstown, Westminster, Eldersburg, Greenmount, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTCID Basic Market under the symbol “FMFG”. For more information, visit fmb1919.bank.

Forward-Looking Statements

The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “will,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Farmers and Merchants Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.

FOR FURTHER INFORMATION CONTACT:
Farmers and Merchants Bancshares, Inc.	Contact:	Mr. Gary A. Harris
4510 Lower Beckleysville Rd, Suite H		President and Chief Executive Officer
Hampstead, Maryland 21074		(410) 374-1510, ext. 1104

Farmers and Merchants Bancshares, Inc. and Subsidiaries
Consolidated Balance Sheets
Dollars in thousands except per share data
	September 30,				December 31,
		2026			2025 *
	(Unaudited)
Assets
Cash and due from banks	$	31,945			$	46,113
Federal funds sold and other interest-bearing deposits		803				566
Cash and cash equivalents		32,748				46,679
Certificates of deposit in other banks		100				100
Securities available for sale, at fair value		103,257				118,730
Securities held to maturity, at amortized cost less allowance for credit
losses of $95 and $79		20,774				21,055
Equity security, at fair value		538				550
Restricted stock, at cost		3,475				3,693
Mortgage loans held for sale		113				714
Loans, less allowance for credit losses of $4,666 and $4,361		654,965				633,144
Premises and equipment, net		7,465				7,141
Accrued interest receivable		2,723				2,535
Deferred income taxes, net		7,185				6,277
Other real estate owned, net		1,665				1,673
Bank owned life insurance		15,656				15,353
Goodwill and other intangibles, net		7,012				7,018
Other assets		7,725				7,296
Total assets	$	865,401			$	871,958
Liabilities and Stockholders’ Equity
Deposits
Noninterest-bearing	$	126,615			$	117,098
Interest-bearing		589,383				603,361
Total deposits		715,998				720,459
Securities sold under repurchase agreements		4,664				4,317
Federal Home Loan Bank of Atlanta advances		57,700				62,700
Long-term debt, net of issuance costs		12,072				12,036
Accrued interest payable		843				1,278
Other liabilities		6,545				6,508
Total liabilities		797,822				807,298
Stockholders’ equity
Common stock, par value $.01 per share,
authorized 5,000,000 shares; issued and outstanding
3,263,958 shares in 2026 and 3,229,795 shares in 2025		33				32
Additional paid-in capital		32,752				32,148
Retained earnings		49,791				45,210
Accumulated other comprehensive loss		(14,997	)			(12,730	)
Total stockholders’ equity		67,579				64,660
Total liabilities and stockholders’ equity	$	865,401			$	871,958
* Derived from audited consolidated financial statements

Farmers and Merchants Bancshares, Inc. and Subsidiaries
Consolidated Statements of Income (Unaudited)
Amounts in thousands except per share data
	Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
Interest income
Loans, including fees	$	10,078			$	9,307			$	29,487			$	26,572
Investment securities – taxable		829				1,071				2,472				3,191
Investment securities – tax exempt		160				157				458				467
Federal funds sold and other interest earning assets		500				424				1,319				909
Total interest income		11,567				10,959				33,736				31,139
Interest expense
Deposits		3,567				4,344				10,489				12,665
Securities sold under repurchase agreements		10				13				36				42
Federal Home Loan Bank advances		560				129				1,718				251
Long-term debt		258				120				774				342
Total interest expense		4,395				4,606				13,017				13,300
Net interest income		7,172				6,353				20,719				17,839
Provision for credit losses		–				327				–				595
Net interest income after provision for credit losses		7,172				6,026				20,719				17,244
Noninterest income
Service charges on deposit accounts		174				185				505				527
Mortgage banking income		50				75				180				151
Bank owned life insurance income		188				105				390				316
Fair value adjustment of equity security		(20	)			7				(25	)			16
Gain on settlement of fair value hedge		–				–				–				94
Gain on sale of SBA loans		13				–				13				–
Gain on insurance proceeds, net		–				73				–				73
Other fees and commissions		115				106				411				343
Total noninterest income		520				551				1,474				1,520
Noninterest expense
Salaries		2,471				2,178				6,896				6,576
Employee benefits		619				573				1,896				1,486
Occupancy		303				281				967				890
Furniture and equipment		453				370				1,338				1,185
Professional services		167				174				511				565
Automated teller machine and debit card expenses		177				71				493				407
Federal Deposit Insurance Corporation premiums		96				150				278				466
Postage, delivery, and armored carrier		68				62				199				204
Advertising		46				63				152				193
Other real estate owned expense, net		7				(13	)			57				58
Other		613				500				1,767				1,607
Total noninterest expense		5,020				4,409				14,554				13,637
Income before income taxes		2,672				2,168				7,639				5,127
Income taxes		647				462				1,893				1,058
Net income	$	2,025			$	1,706			$	5,746			$	4,069
Earnings per common share – basic	$	0.62			$	0.53			$	1.76			$	1.28
Earnings per common share – diluted	$	0.62			$	0.53			$	1.76			$	1.28

Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Dollars in thousands except per share data
	As of or For the Three Months Ended September 30,
		2026				2025				2024
OPERATING DATA
Interest income	$	11,567			$	10,959			$	9,847
Interest expense		4,395				4,606				4,762
Net interest income		7,172				6,353				5,085
Provision for (recovery of) credit losses		–				327				–
Net interest income after provision
for (recovery of) credit losses		7,172				6,026				5,085
Noninterest income		520				551				451
Noninterest expense		5,020				4,409				4,071
Income before income taxes		2,672				2,168				1,465
Income taxes		647				462				342
Net income	$	2,025			$	1,706			$	1,123
PER SHARE DATA
Net income (Basic and diluted)	$	0.62			$	0.53			$	0.36
Dividends	$	0.36			$	0.34			$	0.00
Book value	$	20.70			$	19.72			$	18.81
KEY RATIOS
Return on average assets		0.92	%			0.80	%			0.56	%
Return on average equity		12.48	%			11.23	%			8.05	%
Efficiency ratio		65.26	%			67.04	%			73.54	%
Net yield on interest-earning assets		3.42	%			3.15	%			2.62	%
Tier 1 capital leverage ratio		10.05	%			9.29	%			9.42	%
Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Dollars in thousands except per share data
	As of or For the Three Months Ended September 30,
		2026				2025				2024
AT PERIOD END
Total assets	$	865,401			$	869,799			$	817,531
Gross loans		659,631				626,714				576,512
Cash and cash equivalents		32,748				52,187				16,842
Securities		124,031				142,266				179,697
Deposits		715,998				734,096				673,745
Long term debt, FRB and FHLB borrowings		69,772				62,224				70,800
Stockholders’ equity		67,579				63,163				59,162
SELECTED AVERAGE BALANCES
Total assets	$	878,410			$	857,387			$	807,493
Gross loans		648,749				625,431				566,893
Cash and cash equivalents		51,614				41,735				20,676
Securities		147,033				162,120				199,915
Deposits		729,353				761,693				663,594
Long term debt, FRB and FHLB borrowings		69,732				23,406				74,569
Stockholders’ equity		64,883				60,751				55,819
ASSET QUALITY
Nonperforming assets	$	3,224			$	4,049			$	1,630
Nonperforming assets/total assets		0.37	%			0.47	%			0.20	%
Allowance for credit losses/total loans		0.72	%			0.68	%			0.56	%

Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Amounts in thousands except per share data
	As of or For the Nine Months Ended September 30,
		2026				2025				2024
OPERATING DATA
Interest income	$	33,736			$	31,139			$	28,092
Interest expense		13,017				13,300				12,700
Net interest income		20,719				17,839				15,392
Provision for (recovery of) credit losses		–				595				–
Net interest income after provision
for credit losses		20,719				17,244				15,392
Noninterest income		1,474				1,520				1,329
Noninterest expense		14,554				13,637				12,307
Income before income taxes		7,639				5,127				4,414
Income taxes		1,893				1,058				993
Net income	$	5,746			$	4,069			$	3,421
PER SHARE DATA
Net income (Basic and diluted)	$	1.76			$	1.28			$	1.09
Dividends	$	0.36			$	0.34			$	0.33
Book value	$	20.70			$	19.72			$	18.81
KEY RATIOS
Return on average assets		0.88	%			0.65	%			0.57	%
Return on average equity		11.58	%			9.24	%			8.53	%
Efficiency ratio		65.58	%			72.68	%			73.60	%
Net yield on interest-earning assets		3.32	%			2.98	%			2.67	%
Tier 1 capital leverage ratio		10.05	%			9.29	%			9.42	%
Farmers and Merchants Bancshares, Inc.
Selected Consolidated Financial Data
(Unaudited)
Amounts in thousands except per share data
	As of or For the Nine Months Ended September 30,
		2026				2025				2024
AT PERIOD END
Total assets	$	865,401			$	869,799			$	817,531
Gross loans		659,631				626,714				576,512
Cash and cash equivalents		32,748				52,187				16,842
Securities		124,031				142,266				179,697
Deposits		715,998				734,096				673,745
Long term debt, FRB and FHLB borrowings		69,772				62,224				70,800
Stockholders’ equity		67,579				63,163				59,162
SELECTED AVERAGE BALANCES
Total assets	$	868,572			$	833,069			$	797,367
Gross loans		640,737				611,727				547,646
Cash and cash equivalents		45,664				58,423				30,766
Securities		150,595				165,248				204,353
Deposits		718,333				743,021				658,105
Long term debt, FRB and FHLB borrowings		71,638				19,996				72,280
Stockholders’ equity		66,163				58,745				53,476
ASSET QUALITY
Nonperforming assets	$	3,224			$	4,049			$	1,630
Nonperforming assets/total assets		0.37	%			0.47	%			0.20	%
Allowance for credit losses/total loans		0.72	%			0.68	%			0.56	%

AKD1500 SPI pairs with the microcontroller, opening Akida AI to the high-volume MCU market

LAGUNA HILLS, Calif., Oct. 22, 2026 (GLOBE NEWSWIRE) — BrainChip Holdings Ltd. (ASX: BRN, OTCQX: BRCHF, ADR: BCHPY), a global leader in ultra-low-power, fully digital, event-based neuromorphic AI, today announced the AKD1500 SPI, expanding its AKD1500 family with a co-processor that brings Akida neuromorphic AI to wearables, smart home devices and other microcontroller-based edge products. Using the SPI interface already found in most microcontrollers, AKD1500 SPI lets device makers add AI with a single chip rather than redesign around a new processor.

AKD1500 SPI’s standout feature is edge learning, enabling devices to learn new words, sounds, users or patterns directly on the chip, without sending data to the cloud or retraining the model. Like every Akida processor, it also runs several AI tasks on one chip.

Alongside the AKD1500 PCIe for M.2 and multi-chip designs, the AKD1500 family lets device makers run the same AI in anything from a smartwatch to a multi-chip edge system with a SPI interface. 

“Our customers demand reflex-like responsiveness and efficiency. They measure every milliwatt and every millisecond,” said Ivan Projić, co-founder and CEO of Neuromorphyx. “On BrainBoard1500 and NeuroReflex, we’ve seen the AKD1500 run neural networks over SPI within the power and size limits of real embedded products.”

Karlo Mikualco, co-founder and CTO of Neuromorphyx, added, “With its SPI interface, the AKD1500 lets teams bring that efficiency, plus on-chip learning, into robotics, industrial and space-grade systems without replacing the host processor they already trust.”

Add AI without replacing the processor

Most everyday devices, such as smartwatches, doorbells and factory sensors, already have a microcontroller, which is built to control the device. Adding AI usually means moving to a larger, more expensive processor and redesigning the entire product.

The AKD1500 SPI avoids that by using SPI, a standard interface most microcontrollers already have, letting device makers add one chip to their existing design. 

The AKD1500 SPI works alongside the MCU as a dedicated AI processor. The MCU controls the device, relaying sensor data to the AKD1500 SPI, which runs the full neural network and sends back the result, such as a recognized word or a detected fault.

Running the model on the device also removes the cloud round trip, including latency, the loss of AI when connectivity drops and the risk of data leaving the product. Voice, sensor and device-health data stay on the device.

“The AKD1500 SPI brings brain-inspired AI into NEXA EEG Glasses, designed for everyday wear,” stated Yazin Al Mandhari, COO at Onsor. “It’s an important step in our work to help people living with epilepsy and their care teams better understand brain activity beyond the clinic.”

Built for the multi-billion-unit microcontroller market

Microcontrollers are among the most widely shipped chips in the world, and until recently almost none of them could learn on-chip once a product shipped. ABI Research forecasts that chipset shipments of TinyML AI, which are lightweight machine learning models deployed directly onto ultra-low-power microcontrollers, will surpass 4.1 billion units by 2031, with dedicated AI processors the fastest-growing part of that segment.

“We built the AKD1500 family around how products are actually designed,” said Steve Brightfield, chief product officer at BrainChip. “The AKD1500 SPI connects to the MCU a team already uses, and the AKD1500 PCIe serves systems that need more performance. Both run the same models with the same tools, so customers can grow without starting over.”

The AKD1500 PCIe serves performance-driven systems and multi-chip designs; the AKD1500 SPI opens the high-volume microcontroller market across consumer, industrial and healthcare products.

The AKD1500 SPI is available now from the BrainChip Shop, its channel partner DigiKey or through sales (sales@brainchip.com).

About BrainChip Holdings Ltd.

BrainChip is the worldwide leader in edge AI on-chip processing and learning. The company’s first-to-market, fully digital, event-based AI processor, Akida™, uses neuromorphic principles to analyze only essential sensor inputs at the point of acquisition, processing data with unmatched efficiency, precision and energy economy. BrainChip’s Sequora™ is an efficient digital AI processor for GenAI and other large models using state-space architectures. BrainChip’s technology is deployed across industries including aerospace, defense, industrial IoT, healthcare, consumer devices, and wearables. Explore more at www.brainchip.com.

Follow BrainChip:

X: https://www.twitter.com/BrainChip_inc

LinkedIn: https://www.linkedin.com/company/7792006

Investor Contact

IR@brainchip.com

Media Contact

Maddie Coe

PRforBrainchip@bospar.com

Workhorse’s First Canadian dealer partnership builds on 5 years of selling electric step vans in Canada

DETROIT, Oct. 22, 2026 (GLOBE NEWSWIRE) — Workhorse Group, Inc. (NASDAQ: WKHS) (“Workhorse”), an American Industrial Technology company, today announced it has signed a dealer agreement with Tristan Fleet Management inc. (“Tristan”), to sell and service Workhorse vehicles in Canada. Tristan is a leading Canadian fleet management provider offering truck and trailer sales, parts, repair and maintenance, and 24/7 roadside and towing services. This agreement marks the first Canadian dealer partnership for Workhorse, building on years of electric step van deployments in Canada and underscoring the company’s commitment to Canada as a growth region.

Tristan will offer the full line of Workhorse W56 electric step vans, including Standard Wheelbase (178”) and Extended Wheelbase (208”) models with two battery configurations. With cargo capacity up to 34 cubic meters (1,200 cubic feet), payload capacity up to 4,535 kg (10,000 lbs.), and a nominal range of 240 km (150 miles) per charge with the 210 kWh battery, the W56 lineup gives customers flexibility to choose the configuration that best meets their fleet’s operational needs.

“Canadian fleets need proven electric trucks that deliver on quality and performance in any condition,” said James Griffin, Chief Revenue Officer at Workhorse. “The W56 has already proven itself on this front in real-world fleet service across Canada. Tristan’s strong reputation, its extensive network, and ability to provide around-the-clock roadside support will be extremely valuable as Workhorse continues to grow our presence in the country.”

Workhorse has been selling and supporting electric trucks in Canada since 2021 through its partnership with Purolator, a Canadian-owned leading integrated freight, package and logistics solutions provider. Through this experience, Workhorse has deepened critical insights into how to design, engineer, and support electric trucks in some of the harshest operating environments. Workhorse is an approved supplier within the Canoe cooperative purchasing program, which delivers efficient procurement solutions to municipalities, public sector entities, and registered not-for-profit organizations.

“Our customers have been exploring electrification for some time now. With generous incentives from Écocamionnage, as well as the current extremely high cost of fuel, the business case for going electric has never been stronger,” said Daniel Barbu, Tristan’s Vice President and General Manager. “We’re looking forward to helping Workhorse expand its customer base across Canada and supporting our customers meet their own goals for sustainability and vehicle performance.”

Tristan operates seven maintenance locations, five in Québec (Pierrefonds, Saint-Laurent, Saint-Zotique, Boucherville, and Valleyfield) and two in Ontario. In addition to its fleet services, Tristan is an authorized Vanguard trailer dealer and service center in Québec and a dealer for other major brands including Michelin, Cummins, WABCO and MAXON.

Canadian fleet operators interested in the W56 should contact Tristan directly at 514-316-1112 ext. 112 or visit www.tristanfleet.com.

About Workhorse Group Inc.
Headquartered in the Detroit area with a commercial-scale manufacturing plant in Union City, Indiana, Workhorse (Nasdaq: WKHS) is an American Industrial Technology company specializing in electrification, high-voltage systems integration, mobility platforms, ruggedized mobile platform manufacturing, distributed energy systems, and deployable industrial infrastructure. We manufacture durable, reliable and high-performing vehicles and infrastructure for mission-critical applications deployed in the world’s most demanding operating environments. More information is available at www.workhorse.com.

About Tristan
Tristan is a fleet management partner and provider offering truck and trailer sales, parts, repair and maintenance, and 24/7 roadside and towing services. With seven maintenance locations in Québec and Ontario, Tristan is an authorized Vanguard trailer dealer and service center in Québec and a dealer for brands including Michelin, Cummins, WABCO and MAXON. Tristan is a woman-owned business. More information is available at www.tristanfleet.com.

Media Relations Contacts:

Workhorse
John Williams, Communications
+1-206-660-5503, john.williams@workhorse.com

ICR, Inc.
workhorse@icrinc.com

Investor Relations Contact:
ir@workhorse.com

Tristan Fleet Management
marketing@tristanfleet.com

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. These include statements regarding Workhorse’s dealer relationship with Tristan Fleet Management Inc.; anticipated sales, service and support of Workhorse vehicles in Canada; the W56’s expected qualification for, and the availability and amount of, incentives under Québec’s Écocamionnage program; the expected total cost of ownership and operating savings of the W56 compared with gas-powered vehicles; anticipated fleet operator demand for electric vehicles; and Workhorse’s plans to grow its presence in Canada. Some of these statements may be identified by the use of the words “plans”, “expects” or “does not expect”, “estimated”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, “targets”, “projects”, “contemplates”, “predicts”, “potential”, “continue”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might”, “will” or “will be taken”, “occur” or “be achieved”.

Forward-looking statements are based on the opinions and estimates of management of Workhorse as of the date such statements are made, and they are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Some factors that could cause actual results to differ include our ability to raise capital to fund our operations and to maintain access to our current debt facilities; our ability to achieve the expected synergies and/or efficiencies from our operations and as a result of the Motiv/Workhorse merger; our ability to reduce the cost to build our vehicles; our ability to hire and retain the workforce needed; the ability of Tristan Fleet Management Inc. to successfully market, sell and service our vehicles in Canada; our ability to obtain or maintain eligibility for government incentive programs, and the continued availability and terms of such programs; trade policies, tariffs and currency fluctuations affecting cross-border sales; changes in laws, regulations, technologies, the global supply chain, and macro-economic and social environments affecting our business, including demand for electric trucks, fuel prices and our cost of production; and our ability to maintain compliance with Nasdaq rules and otherwise maintain our listing of securities on Nasdaq.

Additional information on these and other factors that may cause actual results and Workhorse’s performance to differ materially is included in Workhorse’s periodic reports filed with the SEC, including Workhorse’s Annual Report on Form 10-K for the year ended December 31, 2025 including those factors described under the heading “Risk Factors” therein, and Workhorse’s subsequent Quarterly Reports on Form 10-Q. Copies of Workhorse’s filings with the SEC are available publicly on the SEC’s website at www.sec.gov or may be obtained by contacting Workhorse. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and Workhorse undertakes no obligation to update or revise the forward-looking statements except as required by law.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8022a3ad-132a-4c3b-af42-e8061808e1b2

• Annualized volume in funded loans would place Figure’s collective ecosystem among the top 25 SBA 7(a) lenders by approved dollar volume just 16 months after launch
• Surpassed 150+ partners, including Lendio, Big Think Capital, SBG

NEW YORK, Oct. 22, 2026 (GLOBE NEWSWIRE) — Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS), the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets, today announced that its small business financing business hit major volume milestones in September 2026: it funded more than $50 million in September, $135 million in the third quarter, and its annualized volume now exceeds $500 million.

Figure launched its small business financing (“SMB”) vertical in June 2025, extending its blockchain-based infrastructure that has facilitated more than $30 billion of loans, including home equity lines of credit (HELOCs), to serve entrepreneurs. Figure’s¹ home equity lines of credit for small businesses benefit from both the blockchain-based infrastructure, including tokenized lien registry, and capital markets liquidity offered to Figure’s flagship HELOC market. Importantly, the small business loans are underwritten and sold in the same fashion as Figure’s other HELOCs, maintaining credit quality but also the homogeneity that has created Figure’s meaningful capital markets liquidity.

Small businesses provide almost half of all jobs in the United States and a similar share of gross domestic product. The number is growing due to an AI-fueled entrepreneurship surge. Americans filed roughly 27 million applications to start a business from 2021 through 2025, about 53% more than the roughly 17.6 million filed in the previous five years, according to Census Bureau data.² Unfortunately, fewer than half of owners receive the level of credit they seek.

Nearly seven in 10 small business owners say they own their home, making home equity a potential low-cost and accessible source of capital for many. Home equity has more than doubled over the past decade, to $35 trillion in the second quarter of 2026.

Partners embed Figure’s product, often under their own brands, and use Figure’s technology for online applications and closings. Partners maintain their relationships with customers, and Figure provides the loan infrastructure. The financing is built around speed, with approval in as few as five minutes and funding as quick as five days for loans up to $750,000 carrying terms of up to 30 years.

“Small business owners are the backbone of our economy and it’s wonderful to see so many are pursuing expansion or new opportunities. At the same time, headwinds like tariffs, higher fuel costs and squeezed margins are very real. We’re seeing a huge population of owners who are well-qualified borrowers with significant assets who don’t fit the traditional underwriting box, making them an underserved segment and a real opportunity,” said Michael Tannenbaum, CEO of Figure. “We’ve taken a core strength – speed and efficiency in home equity – and through a rapidly growing network of brokers, meet owners’ critical needs. If you placed our network’s funded volume next to the SBA 7(a) rankings as a yardstick, we’d be in the top 25,³ which reflects how eager business owners are to put their home equity to work.”

Figure partners originating home equity lines of credit for business purposes also benefit from the rest of the Figure flywheel, including Prime, Figure’s on-chain vehicle that helps them finance loans, similar to warehouse financing. Figure partner Credibly announced its plan to use Prime in May 2026. Partners can then sell those loans through Figure Connect, a two-sided marketplace where originators sell whole loans to institutional buyers. For example, Newity recently joined Figure’s partner network and plans to use the Figure Connect ecosystem to pair origination support with direct access to capital markets.

“Small business owners need capital that moves at the speed of their business, and we’re always looking for better ways to get it to them,” said Luke LaHaie, Co-CEO, Newity. “Figure’s ecosystem lets us pair strong origination support with direct access to capital markets, and we’re excited to put it to work for the owners we serve.”

Figure’s SMB growth over the past year includes a fast-growing network of 150+ brokers, lending and fintech partners, all with robust loan origination activity.

“Entrepreneurs have always encountered challenges finding financing, and in many ways, it’s become even more difficult in today’s environment even though many have a significant number of assets, simply because their files aren’t cookie-cutter,” said Brock Blake, Co-Founder & CEO of Lendio. “It’s a legacy problem that’s getting worse. Figure’s SMB product gets owners funded quickly, affordably, and fully digitally. It’s grown rapidly because it fills a real gap in the market.”

To learn more, visit: https://www.figure.com/home-equity-line/heloc-for-business/

About Figure

Figure Technology Solutions, Inc. (Nasdaq: FIGR; OPEN: FGRS) is the leading blockchain-native capital marketplace for the origination, funding, sale and trading of tokenized assets. More than 480 partners use its loan origination system and capital marketplace. Collectively, Figure and its partners have originated over $30 billion of loans to date, among other products. The fastest growing components are Figure Connect, its credit marketplace, and Figure Prime (formerly Democratized Prime), Figure’s on-chain lend-borrow marketplace. Figure’s ecosystem also includes DART (Digital Asset Registry Technology) for asset custody and lien perfection, and $YLDS.

Figure is the market leader in real-world asset (RWA) tokenization. The company has received AAA ratings from S&P and Moody’s on multiple loan securitizations, the first of its kind for blockchain finance. For more information, visit https://figure.com or follow Figure on LinkedIn.

Figure Lending LLC dba Figure NMLS ID 1717824. 5200 77 Center Drive, Suite 400, Charlotte, NC 28217. (888) 819-6388. For licensing information go to www.nmlsconsumeraccess.org. Equal Opportunity Lender.

Contact
press@figure.com

¹ Figure Lending LLC dba Figure originates HELOCs. NMLS ID 1717824.
² Source: U.S. Census Bureau, Business Formation Statistics, total business applications (seasonally adjusted monthly series summed by calendar year), retrieved from FRED, Federal Reserve Bank of St. Louis (fred.stlouisfed.org/series/BABATOTALSAUS), accessed October 8, 2026. Applications totaled 26.9 million in 2021-2025 versus 17.6 million in 2016-2020, an increase of 52.9%.
³ Source: U.S. Small Business Administration, 7(a)/504 Lender Report, accessed Oct. 1, 2026. SBA ranks lenders by loans approved, not funded; Figure does not make SBA loans, and its figures reflect funded volume. At a $500 million annualized rate, Figure’s funded volume would rank among the top 25 SBA 7(a) lenders by approved dollar volume for fiscal year 2026.

• Judges recognize an app that brings the full travel journey together, helping every customer travel like an expert

MONTRÉAL, Oct. 22, 2026 (GLOBE NEWSWIRE) — Air Canada’s mobile app has been named Best Airline App at the 2026 World Aviation Festival in Lisbon, winning the Battle of the Airline Apps. A panel of industry judges compared three airline finalists and rated Air Canada’s app the best. The judges highlighted the app’s ability to bring together the full travel journey in a single experience, helping customers move seamlessly from booking to arrival with personalized, contextual information throughout their trip.

“Travel has always rewarded the people who know the system. We want every customer to travel like an expert, whether it’s their first flight or their hundredth,” said Carlos Faxas, Vice President, Digital Products, Air Canada. “That means an app that anticipates what you need next, like directions to your connecting gate the moment you land and brings you closer to the people behind your trip, like the Air Canada team member who loaded your bag. Our ambition is to build the best airline app in the world. This recognition validates our progress in that journey, and we continue to be guided by feedback from our customers and coworkers alike.”

In 2026, Air Canada introduced enhancements that further elevated the app. A redesigned home screen now adapts to each stage of the trip, putting check-in, boarding passes, flight status and bag tracking in front of customers when they need them, and guiding connecting customers at Air Canada’s hubs in Toronto, Montréal and Vancouver with directions to their next gate. A new low fare calendar and side-by-side fare comparison show fare rules and baggage allowances before customers book. Customers can also thank an Air Canada team member who made their day with the new Bravo button, building on Bag Buddy, which shows customers the name and photo of the person who loaded their bag.

Air Canada continually invests in digital products that make travel more intuitive, personalized and reliable for millions of customers. With over 23 million downloads, the app builds on previous recognition of Air Canada’s digital experiences, including Webby Honoree recognition for the Air Canada app in 2022 and for aircanada.com in 2025.

Air Canada’s award-winning app is available at no charge here.

About Air Canada

Air Canada is Canada’s largest airline, the country’s flag carrier and a founding member of Star Alliance, the world’s most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada’s Aeroplan program is Canada’s premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world’s largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners. Through Air Canada Vacations, it offers a selection of vacation and Flight & Hotel packages, tours, cruises, car rentals, and experiences. Its freight division, Air Canada Cargo, provides air freight lift and connectivity to hundreds of destinations across six continents using Air Canada’s passenger and freighter aircraft. Air Canada shares are publicly traded on the TSX (AC).

Contacts:        media@aircanada.ca

Internet:          aircanada.com/media

Read our annual report Here

Sign up for Air Canada news: aircanada.com

Media Resources:
Photos
Videos
B-Roll
Articles

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bdb494a7-ac86-4d92-9c1b-67d8483748bd

Texas Railroad Commission Approves P-5 Filing as Houston Facility Advances into R-9 Permit Technical Review

Dallas, TX, Oct. 22, 2026 (GLOBE NEWSWIRE) — Vivakor, Inc. (Nasdaq: VIVK) (“Vivakor” or the “Company”), an integrated provider of energy transportation, storage, reuse and remediation services, today announced a significant regulatory milestone for its Houston-area Remediation Processing Center (“RPC”), advancing the facility toward its targeted commencement of commercial operations in the first quarter of 2027.

The Railroad Commission of Texas (“RRC”) has approved Vivakor’s P-5 Organization Report filing and issued the Company an operator number, completing an important prerequisite in the regulatory approval process. With this milestone achieved, the Houston RPC has advanced into the RRC’s technical review of its R-9 reclamation plant permit application, bringing the facility another step closer to commercial operations.

“This is an important step forward for our Houston RPC and our broader environmental services strategy,” said James Ballengee, Chairman, President and Chief Executive Officer of Vivakor. “With our operator registration approved and technical review now underway, we are making tangible progress toward bringing this facility online. We are targeting commercial operations in the first quarter of 2027 and believe the Houston RPC has the potential to become an important contributor to our expanding integrated energy platform.”

The Houston RPC is designed to process oilfield waste materials and recover reusable hydrocarbons, supporting Vivakor’s strategy of transforming oilfield waste streams into recoverable resources. Once operational, the facility is expected to expand the Company’s environmental services capabilities and complement its existing transportation, terminaling and Supply & Trading operations, further strengthening Vivakor’s integrated energy infrastructure platform.

The anticipated commencement of commercial operations remains subject to completion of the RRC’s technical review, receipt of required regulatory approvals and remaining commissioning activities. The Company’s targeted commencement of Houston RPC operations in the first quarter of 2027 represents an update to its previously issued guidance.

About Vivakor, Inc.

Vivakor, Inc. is an integrated provider of sustainable energy transportation, storage, reuse, and remediation services. Its corporate mission is to develop, acquire, accumulate, and operate assets, properties, and technologies in the energy sector. Vivakor’s integrated facilities assets provide crude oil, storage, transportation, reuse, and remediation services under long-term contracts. Once operational, Vivakor’s interest in oilfield waste remediation facilities will facilitate the recovery, reuse, and disposal of petroleum byproducts and oilfield waste products.

Cautionary Statement Regarding Forward-Looking Statements

This news release may contain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results anticipated in these forward-looking statements. Forward-looking statements may be identified but not limited by the use of the words “anticipates,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “will,” “believes,” “estimates,” “potential,” or “continue” and variations or similar expressions. Our actual results may differ materially and adversely from those expressed in any forward-looking statements as a result of various factors and uncertainties, including, but not limited to, the expected transaction and ownership structure, the valuation of the transaction, the likelihood and ability of the parties to successfully and timely consummate planned acquisitions, the risk that any required regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect Vivakor or the expected benefits of the such transaction, our ability to maintain the listing of our securities on The Nasdaq Capital Market, the parties failure to realize the anticipated benefits of pending transactions, disruption and volatility in the global currency, capital, and credit markets, changes in federal, local and foreign governmental regulation, changes in tax laws and liabilities, tariffs, legal, regulatory, political and economic risks, our ability to successfully develop products, rapid change in our markets, changes in demand for our future products, and general economic conditions.

These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor’s filings with the U.S. Securities and Exchange Commission, which factors may be incorporated herein by reference. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance as projected financial information and other information are based on estimates and assumptions that are inherently subject to various significant risks, uncertainties and other factors, many of which are beyond our control. All information set forth herein speaks only as of the date hereof in the case of information about Vivakor or the date of such information in the case of information from persons other than Vivakor, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding the industries and markets are based on sources we believe to be reliable; however, there can be no assurance these forecasts and estimates will prove accurate in whole or in part.

Investor Contact:
P:469-480-7175
info@vivakor.com

SALT LAKE CITY, Utah, Oct. 22, 2026 (GLOBE NEWSWIRE) — SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”), a leader in advanced silicon nitride biomaterials and ceramics for medical and industrial applications, today announced that it will release its third quarter 2026 financial results on Thursday, November 5, 2026, after the market close. The Company will also host a conference call and webcast that day at 4:30 p.m. ET to review the Company’s third quarter 2026 performance. Management participants will include Eric Olson, Chief Executive Officer and Chairman of the Board, and Kevin Trask, Chief Financial Officer.

Interested parties may access the conference call and webcast as follows:

Webcast: The live webcast will be available on the Events & Presentations page of the Company’s investor relations website at investors.sintx.com and may also be accessed directly here.

Telephone: Analysts and other participants who wish to join by telephone should register in advance using the Conference Call Registration link. Upon registration, participants will receive the dial-in information and a unique PIN.

A replay of the webcast will be available following the call on the Events & Presentations page of the Company’s investor relations website.

For more information on SINTX Technologies or its biomaterial platforms, visit www.sintx.com.

About SINTX Technologies, Inc.

Headquartered in Salt Lake City, Utah, SINTX Technologies, Inc. (NASDAQ: SINT) is an advanced biomaterials company that develops, manufactures, and commercializes patented and proprietary silicon nitride ceramic biomaterials, composites, devices, and related ceramics technologies for other medical and specialized industrial applications. SINTX has 20 years of experience innovating silicon nitride technologies and operates under a quality management system certified to ISO 13485:2016 and AS9100D, with a product portfolio that includes insulators for Tier 1 aerospace suppliers, the FDA-cleared SiNAPTIC® Foot & Ankle Osteotomy Wedge System for reconstructive surgery, OEM manufacturing of FDA-cleared spinal implants, and its SiNERGY^™ technology platform being developed for biocomposite and 3D printing applications.

Company Contact:
Andrew Benson
SINTX Technologies, Inc.
801.839.3500
IR@sintx.com

CARLSBAD, Calif., Oct. 22, 2026 (GLOBE NEWSWIRE) — For too long, AppTech lacked a clear strategic direction. The Company pursued opportunities that did not deliver the results shareholders expected, leaving uncertainty about what AppTech was building and where it was headed. In many cases, we focused on short-term opportunities through acquired technology without first establishing a long-term vision.

That is no longer the case.

Today, AppTech is pursuing a clear and focused strategy built around a single objective: to become a leading payments infrastructure technology company.

We Are A Payments Infrastructure Technology Company
The acquisition of Infinitus Pay (“IP”) in October 2025 fundamentally transformed our business. It provided the technical framework and industry expertise required to build a scalable payments platform. Today, we serve more than forty fintechs and businesses representing thousands of underlying customers and process billions of dollars in annualized payment volume.

Our platform provides businesses with reliable access to U.S. dollar accounts and payment rails, including wire transfers, SWIFT, ACH, and other modern payment options, all within a compliance-focused framework.

The acquisition also gave AppTech something it has historically lacked: a scalable payments business with recurring revenue, meaningful transaction volume, and a clearer path to long-term growth.

Where We Are Investing
Currently, most of our services rely on third-party providers, limiting our control over the customer experience. The Company previously intended to address these limitations through additional acquisitions, but I believe that AppTech needs a different approach: building and owning more of the capabilities that are critical to our long-term success.

Since becoming Interim CEO, I have directed our investments toward three areas: technology, compliance and talent.

Technology
To reduce costs, improve scalability, and position AppTech for growth, we are consolidating our offerings onto a single platform that will power all our products. This new platform will provide clients with a single point of connection, concentrate our engineering efforts on one unified codebase, and apply compliance controls consistently across every product. It will also serve as the foundation for future products and incorporate AI-enabled capabilities that improve both customer and internal operations.

Development began in mid-July, and we are on track to launch before year-end. Once complete, we expect the new platform to accelerate customer onboarding, improve operational efficiencies, simplify the integration of additional banking partners, enhance the customer experience, and support stronger long-term margins.

Compliance
Compliance sits at the center of everything we do. It protects our banking partners, our customers, and our reputation. Our new platform strengthens this core tenant by incorporating transaction monitoring, sanctions screening, fraud detection, and financial-crime risk management capabilities. Embedding these controls directly into the platform, allows us to better support our banking partners, grow responsibly, reduce risk, and provide customers with dependable access to the U.S. financial system.

Talent (Our most important investment)
Technology and compliance are only as strong as the people behind them. Over the past several months, we have strengthened our organization through a combination of leadership changes and strategic hires. Two additions are particularly noteworthy:

• Nick Saponaro, Interim Chief Technology Officer, is leading the platform initiative alongside a revamped engineering team. He brings more than a decade of experience building compliance-focused digital-asset infrastructure, including leadership roles at a licensed global exchange.
• Our Compliance Team has been strengthened through the engagement of an experienced compliance consultant and the addition of a dedicated AML analyst. Together, they bring valuable experience from the banking side of the partnerships we rely on. Their immediate focus is strengthening our compliance program, improving onboarding practices, and building greater confidence with our banking partners.

Executing On Our Vision
Strong customer demand and an experienced sales team have created both a significant onboarding pipeline and transaction volumes that are comparable to much larger institutions. Our priority now is execution: completing our new platform, migrating customers, expanding banking partnerships, and introducing complementary products. These initiatives are designed to convert demand into revenue by further monetizing the volume currently transacting on our platform.

Over the next year, we will focus on four growth initiatives.

• Credit Card Issuance
  To accelerate our time to market, we have added an experienced banking executive to help secure the necessary partnerships and navigate licensing and regulatory requirements. Subject to execution and regulatory approvals, we expect our card program to begin generating revenue in late 2027.
• Digital Asset Conversions
  We intend to provide qualified customers with a compliant and efficient way to convert between digital assets and U.S. dollars. This capability builds upon payment activity already connected to our platform and represents an opportunity to generate additional revenue while expanding the services available to our customers.
• Bank Yield Program
  We are onboarding accounts that may generate lower transactional volumes but will maintain larger average daily deposit balances. These balances create an additional recurring revenue stream through our participation in the yield generated on customer deposits, allowing us to benefit from both payment activity and deposit growth.
• Compliance-as-a-Service
  Many businesses require sophisticated financial-crime controls to maintain their banking relationships but lack the internal resources to build and manage those capabilities themselves. Because these controls are already being integrated into our platform, we are well positioned to offer them as a recurring service. This initiative has the potential to generate additional revenue while strengthening relationships with both customers and banking partners.

These initiatives are driven by existing customer demand and align with capabilities we are already building. Together, they intend to increase revenue per customer, deepen customer relationships, and enhance the value of our new platform for both customers and banking partners.

A Candid Reset, Focused On Execution
When I became interim CEO, I inherited several challenges that required immediate attention. In response, we assembled a team, established clear priorities, and set a course to address these challenges. Our efforts have been focused on resolving the banking partner matter disclosed in our prior filings, building critical infrastructure, winding down Finzeo, our legacy platform, and correcting deficiencies in our merchant processing business. As a result of these actions, we expect growth to slow or decrease during the second half of the year. While that outcome is not ideal, we believe these efforts are necessary to reduce operational risk and position AppTech for stronger, more sustainable growth.

That same discipline will guide how we onboard new customers. We evaluate opportunities based on both customer needs and long-term economics for AppTech. Some customers will onboard immediately, while others may be better served on our new platform, where we expect to provide a superior experience and capture greater value. These decisions may affect near-term growth, but we believe they will create greater long-term shareholder value.

This reset will require dedicated commitment and follow-through. We have a growing customer base, meaningful payment volume, and a team focused on completing the platform and growing revenue. Our focus now is on turning that progress into stronger financial results.

I look forward to keeping shareholders informed of our progress and appreciate your continued support.

Felipe A. Corrado IV
Interim Chief Executive Officer and Chief Financial Officer
AppTech Payments Corp.

About AppTech Payments Corp.
AppTech Payments Corp. (OTCQB: APCX) provides digital financial services for financial institutions, corporations, small and midsized enterprises (“SMEs”), and consumers through its scalable cloud-based platform architecture and infrastructure. The Company’s growing suite of payment, banking, and software solutions enables businesses to modernize payment acceptance, money movement, and financial operations. For more information, please visit www.apptechcorp.com.

Forward-Looking Statements
This press release contains “forward-looking statements” as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “estimate,” “expect,” “forecast,” “future,” “intend,” “may,” “opportunity,” “plan,” “project,” “should,” “strategy,” “will,” “will be,” “will continue,” “will likely result,” “would” and similar expressions (including the negative versions of such words or expressions). All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements. These statements include, but are not limited to, statements regarding the Company’s expected growth, future financial performance, SaaS platform development and deployment, customer onboarding, transaction volumes, banking relationships, recurring revenue opportunities, profitability, and strategic initiatives. These forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are encouraged to review the risk factors described in the Company’s filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements except as required by applicable law.

AppTech Payments Corp.
info@apptechcorp.com
760-707-5959