Tag: GlobeNewswire

Solidion Proposal is Not in the Best Interests of Flux Shareholders

VISTA, Calif., Oct. 02, 2026 (GLOBE NEWSWIRE) — Flux Power Holdings, Inc. (NASDAQ: FLUX) (“Flux Power” or the “Company”), a leading developer of advanced lithium-ion energy storage solutions and fleet intelligence technology, today announced that its Board of Directors (the “Board”) has unanimously rejected the unsolicited, non-binding acquisition proposal (the “Proposal”) announced by Solidion Technology, Inc. (NASDAQ: STI) (“Solidion”) on September 30, 2026.

We can appreciate why there is interest by Solidion in acquiring the Company. However, after a comprehensive review, conducted in consultation with its legal advisors, the Board concluded that the Proposal substantially undervalues Flux Power and is not in the best interests of the Company and its shareholders.

Flux Power’s management team is focused on executing its strategy to reposition the Company toward a path to profitability, supported by several factors:

• Transforming the business: With the new management team, Flux Power has implemented extensive changes expected to benefit the Company in FY 2027 and beyond. It has lowered product and operating costs and improved operating efficiencies, significantly enhanced its supply chain to improve margins, refreshed its sales leadership team, expanded OEM relationships, and launched aggressive new marketing programs aimed at diversifying its customer base.
• Early momentum: In the 2026 fiscal fourth quarter, the Company reduced operating expenses by 33% over the 2025 fiscal fourth quarter; achieved certification with a new major OEM, increasing its addressable market within electric material handling; and made a significant platform leap with the launch of AI-driven SkyEMS® 3.0, further positioning Flux Power as a differentiated technology provider.
• New avenues for growth: Flux Power has developed – and is currently executing – a strategy to leverage its S series as an anchor product to approach new OEMs and dealership networks by providing unique white label solutions for their use cases, offering new avenues for accelerated, predictable growth. As announced in the 2026 fiscal fourth quarter, Flux Power has entered a new vertical, Robotics, in collaboration with a large global technology company, with clear visibility into potential future demand.
• Growing market demand: As macroeconomic headwinds ease, Flux Power expects to capitalize on growing pent-up demand for its products. The Company believes lithium-ion will become the dominant battery technology in the coming years as Flux Power continues to build a scalable framework to capture this potentially significant market opportunity.

With a leaner cost structure and headcount and refreshed leadership team, Flux Power believes it is well positioned to deliver renewed growth and accelerate its path toward profitability as economic conditions improve. In addition, the Board is currently evaluating potential financing paths and strategic partnerships to ensure the Company has the financial flexibility necessary to continue executing its operating strategy.

About Flux Power
Flux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling and airport ground support equipment (GSE). Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.

Forward Looking Statements

This release contains “forward-looking statements” relating to Flux Power’s business, that are often identified using “believes,” “expects” or similar expressions. Forward-looking statements include, but are not limited to, statements regarding the expected benefits of Flux Power’s changes to its operations, the future dominance of lithium-ion battery technology and the resulting market opportunity, Flux Power’s growth, addressable market and profitability expectations and Flux Power’s ability to capitalize on pent-up market demand. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Accordingly, forward-looking statements are not guarantees of future results. Some of the important factors that could cause Flux Power’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: Flux Power’s ability to amend the terms of its agreement with Gibraltar Business Capital, LLC and Flux Power’s continued access to its credit facility thereunder; Flux Power’s ability to secure sufficient funding to support its current and proposed operations; Flux Power’s ability to continue as a going concern; Flux Power’s ability to meet projected revenue targets and generate sufficient cash from operations; Flux Power’s ability to regain compliance with and continue to meet the continued listing standards of the Nasdaq Stock Market; the impact of tariffs on Flux Power’s ability to cost-effectively source battery packs and materials used in its products; Flux Power’s ability to obtain raw materials and other supplies for its products at existing or competitive prices and on a timely basis; Flux Power’s anticipated growth strategies and its ability to manage the expansion of its business operations effectively; Flux Power’s ability to maintain or increase its market share in the competitive markets in which it does business; Flux Power’s ability to grow its revenue, increase its gross profit margin and become a profitable business; Flux Power’s ability to fulfill its backlog of open sales orders due to delays in the receipt of key component parts and other potential manufacturing disruptions; Flux Power’s ability to keep up with rapidly changing technologies and evolving industry standards, including its ability to achieve technological advances; Flux Power’s dependence on the growth in demand for its products; Flux Power’s ability to compete with both peers and larger companies with far greater resources than it; Flux Power’s ability to reduce production costs of its product line through new designs, manufacturing and supply arrangements; Flux Power’s ability to shift to new suppliers and incorporate new components into its products in a manner that is not disruptive to its business; Flux Power’s ability to obtain and maintain UL Listings and OEM approvals for its energy storage solutions; Flux Power’s ability to diversify its product offerings and capture new market opportunities; Flux Power’s ability to source its needs for skilled labor, machinery, parts, and raw materials economically; Flux Power’s ability to retain and/or successfully recruit key members of its senior management team; Flux Power’s ability to diversify its customer base to reduce its current dependence on a few major customers; and the expense, timing and outcome of legal proceedings relating to Flux Power’s accounting practices, financial disclosures and employment policies and practices, investigations and information requests that may be initiated or that may be asserted. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, it can give no assurance that such statements will prove to be correct, and that Flux Power’s actual results of ‎operations, financial condition and performance will not differ materially from the ‎results of operations, financial condition and performance reflected or implied by these forward-‎looking statements. Undue reliance should not be placed on the forward-looking statements and investors should refer to the risk factors outlined in Flux Power’s Form 10-K, 10-Qs and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected, except as required by applicable law.

Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.

Follow us at:
Blog: Flux Power Blog
News Flux Power News
Twitter: @Flux__Power
LinkedIn: Flux Power

Contacts

Media:
media@fluxpower.com
info@fluxpower.com

External Investor Relations:
Leanne Sievers
Shelton Group
flux-ir@sheltongroup.com

Solidion Proposal is Not in the Best Interests of Flux Shareholders

VISTA, Calif., Oct. 02, 2026 (GLOBE NEWSWIRE) — Flux Power Holdings, Inc. (NASDAQ: FLUX) (“Flux Power” or the “Company”), a leading developer of advanced lithium-ion energy storage solutions and fleet intelligence technology, today announced that its Board of Directors (the “Board”) has unanimously rejected the unsolicited, non-binding acquisition proposal (the “Proposal”) announced by Solidion Technology, Inc. (NASDAQ: STI) (“Solidion”) on September 30, 2026.

We can appreciate why there is interest by Solidion in acquiring the Company. However, after a comprehensive review, conducted in consultation with its legal advisors, the Board concluded that the Proposal substantially undervalues Flux Power and is not in the best interests of the Company and its shareholders.

Flux Power’s management team is focused on executing its strategy to reposition the Company toward a path to profitability, supported by several factors:

• Transforming the business: With the new management team, Flux Power has implemented extensive changes expected to benefit the Company in FY 2027 and beyond. It has lowered product and operating costs and improved operating efficiencies, significantly enhanced its supply chain to improve margins, refreshed its sales leadership team, expanded OEM relationships, and launched aggressive new marketing programs aimed at diversifying its customer base.
• Early momentum: In the 2026 fiscal fourth quarter, the Company reduced operating expenses by 33% over the 2025 fiscal fourth quarter; achieved certification with a new major OEM, increasing its addressable market within electric material handling; and made a significant platform leap with the launch of AI-driven SkyEMS® 3.0, further positioning Flux Power as a differentiated technology provider.
• New avenues for growth: Flux Power has developed – and is currently executing – a strategy to leverage its S series as an anchor product to approach new OEMs and dealership networks by providing unique white label solutions for their use cases, offering new avenues for accelerated, predictable growth. As announced in the 2026 fiscal fourth quarter, Flux Power has entered a new vertical, Robotics, in collaboration with a large global technology company, with clear visibility into potential future demand.
• Growing market demand: As macroeconomic headwinds ease, Flux Power expects to capitalize on growing pent-up demand for its products. The Company believes lithium-ion will become the dominant battery technology in the coming years as Flux Power continues to build a scalable framework to capture this potentially significant market opportunity.

With a leaner cost structure and headcount and refreshed leadership team, Flux Power believes it is well positioned to deliver renewed growth and accelerate its path toward profitability as economic conditions improve. In addition, the Board is currently evaluating potential financing paths and strategic partnerships to ensure the Company has the financial flexibility necessary to continue executing its operating strategy.

About Flux Power
Flux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling and airport ground support equipment (GSE). Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.

Forward Looking Statements

This release contains “forward-looking statements” relating to Flux Power’s business, that are often identified using “believes,” “expects” or similar expressions. Forward-looking statements include, but are not limited to, statements regarding the expected benefits of Flux Power’s changes to its operations, the future dominance of lithium-ion battery technology and the resulting market opportunity, Flux Power’s growth, addressable market and profitability expectations and Flux Power’s ability to capitalize on pent-up market demand. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Accordingly, forward-looking statements are not guarantees of future results. Some of the important factors that could cause Flux Power’s actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: Flux Power’s ability to amend the terms of its agreement with Gibraltar Business Capital, LLC and Flux Power’s continued access to its credit facility thereunder; Flux Power’s ability to secure sufficient funding to support its current and proposed operations; Flux Power’s ability to continue as a going concern; Flux Power’s ability to meet projected revenue targets and generate sufficient cash from operations; Flux Power’s ability to regain compliance with and continue to meet the continued listing standards of the Nasdaq Stock Market; the impact of tariffs on Flux Power’s ability to cost-effectively source battery packs and materials used in its products; Flux Power’s ability to obtain raw materials and other supplies for its products at existing or competitive prices and on a timely basis; Flux Power’s anticipated growth strategies and its ability to manage the expansion of its business operations effectively; Flux Power’s ability to maintain or increase its market share in the competitive markets in which it does business; Flux Power’s ability to grow its revenue, increase its gross profit margin and become a profitable business; Flux Power’s ability to fulfill its backlog of open sales orders due to delays in the receipt of key component parts and other potential manufacturing disruptions; Flux Power’s ability to keep up with rapidly changing technologies and evolving industry standards, including its ability to achieve technological advances; Flux Power’s dependence on the growth in demand for its products; Flux Power’s ability to compete with both peers and larger companies with far greater resources than it; Flux Power’s ability to reduce production costs of its product line through new designs, manufacturing and supply arrangements; Flux Power’s ability to shift to new suppliers and incorporate new components into its products in a manner that is not disruptive to its business; Flux Power’s ability to obtain and maintain UL Listings and OEM approvals for its energy storage solutions; Flux Power’s ability to diversify its product offerings and capture new market opportunities; Flux Power’s ability to source its needs for skilled labor, machinery, parts, and raw materials economically; Flux Power’s ability to retain and/or successfully recruit key members of its senior management team; Flux Power’s ability to diversify its customer base to reduce its current dependence on a few major customers; and the expense, timing and outcome of legal proceedings relating to Flux Power’s accounting practices, financial disclosures and employment policies and practices, investigations and information requests that may be initiated or that may be asserted. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, it can give no assurance that such statements will prove to be correct, and that Flux Power’s actual results of ‎operations, financial condition and performance will not differ materially from the ‎results of operations, financial condition and performance reflected or implied by these forward-‎looking statements. Undue reliance should not be placed on the forward-looking statements and investors should refer to the risk factors outlined in Flux Power’s Form 10-K, 10-Qs and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected, except as required by applicable law.

Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.

Follow us at:
Blog: Flux Power Blog
News Flux Power News
Twitter: @Flux__Power
LinkedIn: Flux Power

Contacts

Media:
media@fluxpower.com
info@fluxpower.com

External Investor Relations:
Leanne Sievers
Shelton Group
flux-ir@sheltongroup.com

Expected first-half revenue above full-year revenue for each of the past two fiscal years; Formind advances international partnerships across the United States, Malaysia and Saudi Arabia

KUALA LUMPUR, Malaysia, Oct. 02, 2026 (GLOBE NEWSWIRE) — Ruanyun Edai Technology Inc. (NASDAQ: RYET) (“Ruanyun” or the “Company”) today announced that it expects preliminary unaudited revenue in the range of approximately US$9.3 million to US$9.5 million (RMB63.0 million to RMB64.5 million) for the six months ended September 30, 2026, the first half of its fiscal year ending March 31, 2027. First-half revenue is expected to increase by approximately US$8.9 million to US$9.1 million from approximately US$0.37 million (RMB2.6 million) in the first half of fiscal 2026.

Expected First-Half Highlights

• Total revenue is expected to be more than double the US$4.11 million (RMB29.6 million) recorded in the first half of fiscal 2025, and above the Company’s reported full-year revenue of US$7.48 million for fiscal 2026 and US$6.69 million for fiscal 2025.
• Campus services are expected to contribute approximately US$5.0 million to US$5.2 million (RMB34.0 million to RMB35.5 million), or approximately 53% to 56% of revenue. Campus services comprise campus operations and student-life services, including food-service management, merchant settlement and dormitory utilities, provided through the Company’s Smart Campus Services business. The business was launched in September 2025 and accounts for the largest part of the expected increase in revenue. Its revenue follows the academic calendar, with most of it earned in the spring semester months and reduced activity during the July–August university summer break. New projects typically follow an annual cycle, initiated in October, set up in November and taken through government procurement from around December, with services generally commencing during the semester, so campus services revenue varies significantly within the year.
• Revenue excluding campus services is expected to be approximately US$4.2 million to US$4.4 million (RMB28.5 million to RMB29.5 million), mainly reflecting smart-campus infrastructure project deliveries and content and learning resources.
• Smart-campus infrastructure revenue, which is separate from the Smart Campus Services business, is expected to be approximately US$2.4 million to US$2.5 million (RMB16.0 million to RMB16.6 million), driven by project deliveries. These include the integrated YeeZo deployment contract announced on September 2, 2026 (contract value approximately RMB5.99 million, inclusive of VAT), which was delivered and accepted by the customer by September 30, 2026. This revenue is project-based and varies from period to period.
• AI application revenue is expected to be approximately US$0.4 million to US$0.5 million (RMB2.9 million to RMB3.1 million), led by the previously announced Cogni AI and YeeZo applications.
• Formind international platform: as previously announced, since April 2026, a HanLink pilot with the Center on Chinese Education at Teachers College, Columbia University; the first Formind Global agreement, with City University Malaysia; a Saudi-China collaboration and three-year framework memorandum of understanding with Intersect Holding and Nanchang Institute of Science and Technology; and the launch of the Formind Group website. These initiatives are at an early stage and are not expected to represent a material part of first-half revenue.

“We expect our first-half revenue to exceed our full-year revenue for each of the last two fiscal years, led by our campus services business. Through Formind, we are taking our institutional experience to international partners in the United States, Malaysia and Saudi Arabia.”
— Maggie Fu, Cofounder and Chief Executive Officer, Ruanyun Edai Technology Inc.

About Ruanyun Edai Technology Inc.
Ruanyun Edai Technology Inc. is an AI-driven education technology company focused on intelligent content recognition, automated assessment and next-generation learning systems. The Company has historically developed and provided AI-enabled teaching, learning and assessment solutions, including smart homework, smart examination and digital education services, and since September 2025 has provided campus operations and student-life services through its Smart Campus Services business. The Company is presenting its group businesses under the Formind Group identity as part of its broader strategy to expand AI education, language learning, institutional education support and global technology initiatives.

Additional information about Formind Group is available at www.formind.group. Information on that website is not part of this press release.

Preliminary Unaudited Financial Information

The financial information in this press release is preliminary and unaudited, has been prepared by management based on currently available information, and is subject to completion of the Company’s financial closing procedures for the six months ended September 30, 2026 and review by the Company’s independent registered public accounting firm. The Company’s independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to this information and does not express an opinion or any other form of assurance on it. Final results may differ materially from the preliminary figures as a result of period-end adjustments, including those relating to revenue recognition, principal-versus-agent assessments, cut-off, consolidation, intercompany eliminations and currency translation. The preliminary figures are based on the Company’s internal management accounts and may differ from the amounts to be reported in its interim financial statements. This update covers revenue only; the Company is not reporting profit, margin, cash flow or balance-sheet information at this time. This information should not be viewed as a substitute for full interim financial statements prepared in accordance with U.S. GAAP. Results for interim periods, including the estimated figures presented, are not necessarily indicative of results for the full fiscal year or any future period.

Basis of presentation. The Company previously disclosed Smart Campus operating revenue for April and May 2026, a management measure that was not prepared in accordance with U.S. GAAP. That measure differs from the revenue presented in this press release and is not directly comparable to it.

Currency translation. The Company reports its results in U.S. dollars. Estimated U.S. dollar amounts for the six months ended September 30, 2026 have been translated from renminbi at an estimated average exchange rate for the period of approximately RMB6.77 to US$1.00. Reported amounts will be translated at the rates used in preparing the Company’s interim financial statements and may differ. Prior-period U.S. dollar amounts are as previously reported.

Forward-Looking Statements

This press release contains forward‑looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable securities laws. All statements other than statements of historical fact are forward‑looking statements. Forward‑looking statements may be identified by words such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “goal,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar expressions.

These statements include, among others, expectations concerning preliminary first-half revenue, campus services and the academic-year project cycle, AI application development and commercialization, the Formind strategy, the pilot project with Teachers College, Columbia University, the agreement with City University Malaysia, the collaboration and memorandum of understanding with Intersect Holding and Nanchang Institute of Science and Technology, and other international opportunities. Actual outcomes may differ materially because of customer demand, service and partner performance, procurement and acceptance timing, contract execution, funding, related-party arrangements, regulation, data protection and internal controls. The preliminary revenue figures are subject to the matters described under “Preliminary Unaudited Financial Information.”

Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that could cause actual results to differ materially.

Forward-looking statements speak only as of the date of this press release. Additional risks are described in the Company’s reports filed with or furnished to the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 20-F. Readers should not place undue reliance on these statements. The Company undertakes no obligation to update any forward-looking statement except as required by law.

Investor Relations and Corporate Communications

FSR Capital, a FSR Group Company
Email: ir@fsr.group

Expected first-half revenue above full-year revenue for each of the past two fiscal years; Formind advances international partnerships across the United States, Malaysia and Saudi Arabia

KUALA LUMPUR, Malaysia, Oct. 02, 2026 (GLOBE NEWSWIRE) — Ruanyun Edai Technology Inc. (NASDAQ: RYET) (“Ruanyun” or the “Company”) today announced that it expects preliminary unaudited revenue in the range of approximately US$9.3 million to US$9.5 million (RMB63.0 million to RMB64.5 million) for the six months ended September 30, 2026, the first half of its fiscal year ending March 31, 2027. First-half revenue is expected to increase by approximately US$8.9 million to US$9.1 million from approximately US$0.37 million (RMB2.6 million) in the first half of fiscal 2026.

Expected First-Half Highlights

• Total revenue is expected to be more than double the US$4.11 million (RMB29.6 million) recorded in the first half of fiscal 2025, and above the Company’s reported full-year revenue of US$7.48 million for fiscal 2026 and US$6.69 million for fiscal 2025.
• Campus services are expected to contribute approximately US$5.0 million to US$5.2 million (RMB34.0 million to RMB35.5 million), or approximately 53% to 56% of revenue. Campus services comprise campus operations and student-life services, including food-service management, merchant settlement and dormitory utilities, provided through the Company’s Smart Campus Services business. The business was launched in September 2025 and accounts for the largest part of the expected increase in revenue. Its revenue follows the academic calendar, with most of it earned in the spring semester months and reduced activity during the July–August university summer break. New projects typically follow an annual cycle, initiated in October, set up in November and taken through government procurement from around December, with services generally commencing during the semester, so campus services revenue varies significantly within the year.
• Revenue excluding campus services is expected to be approximately US$4.2 million to US$4.4 million (RMB28.5 million to RMB29.5 million), mainly reflecting smart-campus infrastructure project deliveries and content and learning resources.
• Smart-campus infrastructure revenue, which is separate from the Smart Campus Services business, is expected to be approximately US$2.4 million to US$2.5 million (RMB16.0 million to RMB16.6 million), driven by project deliveries. These include the integrated YeeZo deployment contract announced on September 2, 2026 (contract value approximately RMB5.99 million, inclusive of VAT), which was delivered and accepted by the customer by September 30, 2026. This revenue is project-based and varies from period to period.
• AI application revenue is expected to be approximately US$0.4 million to US$0.5 million (RMB2.9 million to RMB3.1 million), led by the previously announced Cogni AI and YeeZo applications.
• Formind international platform: as previously announced, since April 2026, a HanLink pilot with the Center on Chinese Education at Teachers College, Columbia University; the first Formind Global agreement, with City University Malaysia; a Saudi-China collaboration and three-year framework memorandum of understanding with Intersect Holding and Nanchang Institute of Science and Technology; and the launch of the Formind Group website. These initiatives are at an early stage and are not expected to represent a material part of first-half revenue.

“We expect our first-half revenue to exceed our full-year revenue for each of the last two fiscal years, led by our campus services business. Through Formind, we are taking our institutional experience to international partners in the United States, Malaysia and Saudi Arabia.”
— Maggie Fu, Cofounder and Chief Executive Officer, Ruanyun Edai Technology Inc.

About Ruanyun Edai Technology Inc.
Ruanyun Edai Technology Inc. is an AI-driven education technology company focused on intelligent content recognition, automated assessment and next-generation learning systems. The Company has historically developed and provided AI-enabled teaching, learning and assessment solutions, including smart homework, smart examination and digital education services, and since September 2025 has provided campus operations and student-life services through its Smart Campus Services business. The Company is presenting its group businesses under the Formind Group identity as part of its broader strategy to expand AI education, language learning, institutional education support and global technology initiatives.

Additional information about Formind Group is available at www.formind.group. Information on that website is not part of this press release.

Preliminary Unaudited Financial Information

The financial information in this press release is preliminary and unaudited, has been prepared by management based on currently available information, and is subject to completion of the Company’s financial closing procedures for the six months ended September 30, 2026 and review by the Company’s independent registered public accounting firm. The Company’s independent registered public accounting firm has not audited, reviewed, compiled or performed any procedures with respect to this information and does not express an opinion or any other form of assurance on it. Final results may differ materially from the preliminary figures as a result of period-end adjustments, including those relating to revenue recognition, principal-versus-agent assessments, cut-off, consolidation, intercompany eliminations and currency translation. The preliminary figures are based on the Company’s internal management accounts and may differ from the amounts to be reported in its interim financial statements. This update covers revenue only; the Company is not reporting profit, margin, cash flow or balance-sheet information at this time. This information should not be viewed as a substitute for full interim financial statements prepared in accordance with U.S. GAAP. Results for interim periods, including the estimated figures presented, are not necessarily indicative of results for the full fiscal year or any future period.

Basis of presentation. The Company previously disclosed Smart Campus operating revenue for April and May 2026, a management measure that was not prepared in accordance with U.S. GAAP. That measure differs from the revenue presented in this press release and is not directly comparable to it.

Currency translation. The Company reports its results in U.S. dollars. Estimated U.S. dollar amounts for the six months ended September 30, 2026 have been translated from renminbi at an estimated average exchange rate for the period of approximately RMB6.77 to US$1.00. Reported amounts will be translated at the rates used in preparing the Company’s interim financial statements and may differ. Prior-period U.S. dollar amounts are as previously reported.

Forward-Looking Statements

This press release contains forward‑looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable securities laws. All statements other than statements of historical fact are forward‑looking statements. Forward‑looking statements may be identified by words such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “goal,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue” and similar expressions.

These statements include, among others, expectations concerning preliminary first-half revenue, campus services and the academic-year project cycle, AI application development and commercialization, the Formind strategy, the pilot project with Teachers College, Columbia University, the agreement with City University Malaysia, the collaboration and memorandum of understanding with Intersect Holding and Nanchang Institute of Science and Technology, and other international opportunities. Actual outcomes may differ materially because of customer demand, service and partner performance, procurement and acceptance timing, contract execution, funding, related-party arrangements, regulation, data protection and internal controls. The preliminary revenue figures are subject to the matters described under “Preliminary Unaudited Financial Information.”

Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that could cause actual results to differ materially.

Forward-looking statements speak only as of the date of this press release. Additional risks are described in the Company’s reports filed with or furnished to the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 20-F. Readers should not place undue reliance on these statements. The Company undertakes no obligation to update any forward-looking statement except as required by law.

Investor Relations and Corporate Communications

FSR Capital, a FSR Group Company
Email: ir@fsr.group

Nasdaq confirms the Company has satisfied the condition in the September 9, 2026 Hearings Panel decision; common stock continues to trade on the Nasdaq Capital Market under the symbol CYCU, subject to a Discretionary Panel Monitor through October 1, 2027

MCLEAN, Va., Oct. 02, 2026 (GLOBE NEWSWIRE) — Cycurion, Inc. (NASDAQ: CYCU) (“Cycurion” or the “Company”), a leading AI-driven, tech-enabled cybersecurity solutions provider, today announced that it has received a letter, dated October 1, 2026, from the Hearings Office of The Nasdaq Stock Market LLC confirming that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(1), the minimum bid price requirement of $1.00 per share, as required by the Nasdaq Hearings Panel’s decision letter dated September 9, 2026.

The October 1 letter confirms that the Company has regained compliance with Listing Rule 5550(a)(1). Nasdaq staff’s compliance worksheet, referenced in the letter, states that on August 28, 2026 the Company effected a 1-for-8 reverse stock split and that, since then, the Company’s bid price has closed above $1.00 for 10 consecutive trading days. The Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol CYCU.

The September 9, 2026 Panel decision granted the Company’s request for continued listing subject to demonstrating bid-price compliance on or before September 11, 2026. The October 1 letter confirms that condition has been met.

In application of Listing Rule 5815(d)(4)(A), the Company will be subject to a Discretionary Panel Monitor for one year from October 1, 2026, through October 1, 2027. If the Company fails to maintain compliance with any continued listing requirement during that period, Nasdaq staff will issue a delist determination letter, and the Company will not be permitted to submit a plan of compliance or receive additional time from staff to regain compliance. The Company may request a hearing, which the Nasdaq Hearings Department would promptly schedule. The Hearings Panel will consider the Company’s compliance history in any such decision.

“Nasdaq’s letter confirms that we met the bid-price condition in the Panel’s decision,” said Kevin Kelly, Chairman and Chief Executive Officer of Cycurion. “The common stock continues to trade on Nasdaq. We understand the monitor, and meeting Nasdaq’s listing standards has been, and remains, a priority for the Company.”

About Cycurion, Inc.

Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) is a forward-thinking provider of IT cybersecurity and AI solutions, committed to delivering secure, reliable, and innovative services to clients worldwide. Specializing in cybersecurity, program management, and business continuity, Cycurion harnesses its AI-enhanced ARx platform and expert team to empower clients and safeguard their operations. Along with its subsidiaries, Axxum Technologies LLC, Cloudburst Security LLC, and Cycurion Innovation, Inc., Cycurion serves government, healthcare, and corporate clients committed to securing the digital future. More info: www.cycurion.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Such statements include, but are not limited to, the Company’s ability to maintain compliance with Nasdaq’s continued listing requirements, including during the Discretionary Panel Monitor period through October 1, 2027; the continued listing and trading of the Company’s common stock on the Nasdaq Capital Market; the operations and prospective growth of the Company’s business; and other statements that are not historical facts, including statements which may be accompanied by words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Cycurion and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, the Company’s ability to maintain a closing bid price of at least $1.00 per share and to satisfy Nasdaq’s other continued listing requirements; the fact that, during the Discretionary Panel Monitor period, any failure to maintain compliance will result in a delist determination without the opportunity to submit a plan of compliance or obtain additional time from Nasdaq staff; the outcome of any hearing that may follow such a determination; the effect of the reverse stock split on the market price, trading volume, and liquidity of the Company’s common stock; volatility in the Company’s stock price; any potential legal proceedings; and the future performance of the Company’s stock. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed by Cycurion with the U.S. Securities and Exchange Commission. Cycurion anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Cycurion assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Cycurion’s plans and expectations as of any subsequent date.

Cycurion Investor Relations:
(888) 341-6680
investors@cycurion.com

Cycurion Media Relations:
(888) 341-6680
media@cycurion.com

Nasdaq confirms the Company has satisfied the condition in the September 9, 2026 Hearings Panel decision; common stock continues to trade on the Nasdaq Capital Market under the symbol CYCU, subject to a Discretionary Panel Monitor through October 1, 2027

MCLEAN, Va., Oct. 02, 2026 (GLOBE NEWSWIRE) — Cycurion, Inc. (NASDAQ: CYCU) (“Cycurion” or the “Company”), a leading AI-driven, tech-enabled cybersecurity solutions provider, today announced that it has received a letter, dated October 1, 2026, from the Hearings Office of The Nasdaq Stock Market LLC confirming that the Company has regained compliance with Nasdaq Listing Rule 5550(a)(1), the minimum bid price requirement of $1.00 per share, as required by the Nasdaq Hearings Panel’s decision letter dated September 9, 2026.

The October 1 letter confirms that the Company has regained compliance with Listing Rule 5550(a)(1). Nasdaq staff’s compliance worksheet, referenced in the letter, states that on August 28, 2026 the Company effected a 1-for-8 reverse stock split and that, since then, the Company’s bid price has closed above $1.00 for 10 consecutive trading days. The Company’s common stock continues to trade on the Nasdaq Capital Market under the symbol CYCU.

The September 9, 2026 Panel decision granted the Company’s request for continued listing subject to demonstrating bid-price compliance on or before September 11, 2026. The October 1 letter confirms that condition has been met.

In application of Listing Rule 5815(d)(4)(A), the Company will be subject to a Discretionary Panel Monitor for one year from October 1, 2026, through October 1, 2027. If the Company fails to maintain compliance with any continued listing requirement during that period, Nasdaq staff will issue a delist determination letter, and the Company will not be permitted to submit a plan of compliance or receive additional time from staff to regain compliance. The Company may request a hearing, which the Nasdaq Hearings Department would promptly schedule. The Hearings Panel will consider the Company’s compliance history in any such decision.

“Nasdaq’s letter confirms that we met the bid-price condition in the Panel’s decision,” said Kevin Kelly, Chairman and Chief Executive Officer of Cycurion. “The common stock continues to trade on Nasdaq. We understand the monitor, and meeting Nasdaq’s listing standards has been, and remains, a priority for the Company.”

About Cycurion, Inc.

Based in McLean, Virginia, Cycurion (NASDAQ: CYCU) is a forward-thinking provider of IT cybersecurity and AI solutions, committed to delivering secure, reliable, and innovative services to clients worldwide. Specializing in cybersecurity, program management, and business continuity, Cycurion harnesses its AI-enhanced ARx platform and expert team to empower clients and safeguard their operations. Along with its subsidiaries, Axxum Technologies LLC, Cloudburst Security LLC, and Cycurion Innovation, Inc., Cycurion serves government, healthcare, and corporate clients committed to securing the digital future. More info: www.cycurion.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Such statements include, but are not limited to, the Company’s ability to maintain compliance with Nasdaq’s continued listing requirements, including during the Discretionary Panel Monitor period through October 1, 2027; the continued listing and trading of the Company’s common stock on the Nasdaq Capital Market; the operations and prospective growth of the Company’s business; and other statements that are not historical facts, including statements which may be accompanied by words such as “continue,” “will,” “may,” “could,” “should,” “expect,” “expected,” “plans,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” and similar expressions intended to identify such forward-looking statements. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, many of which are generally outside the control of Cycurion and are difficult to predict. Examples of such risks and uncertainties include, but are not limited to, the Company’s ability to maintain a closing bid price of at least $1.00 per share and to satisfy Nasdaq’s other continued listing requirements; the fact that, during the Discretionary Panel Monitor period, any failure to maintain compliance will result in a delist determination without the opportunity to submit a plan of compliance or obtain additional time from Nasdaq staff; the outcome of any hearing that may follow such a determination; the effect of the reverse stock split on the market price, trading volume, and liquidity of the Company’s common stock; volatility in the Company’s stock price; any potential legal proceedings; and the future performance of the Company’s stock. Additional factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements can be found in the most recent annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K filed by Cycurion with the U.S. Securities and Exchange Commission. Cycurion anticipates that subsequent events and developments may cause its plans, intentions, and expectations to change. Cycurion assumes no obligation, and it specifically disclaims any intention or obligation, to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as expressly required by law. Forward-looking statements speak only as of the date they are made and should not be relied upon as representing Cycurion’s plans and expectations as of any subsequent date.

Cycurion Investor Relations:
(888) 341-6680
investors@cycurion.com

Cycurion Media Relations:
(888) 341-6680
media@cycurion.com

Walkthrough security detection portal to support Aviation Worker Screening at the airport

WILMINGTON, Mass., Oct. 02, 2026 (GLOBE NEWSWIRE) — Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN), a leading provider of AI-based, next-generation detection solutions for concealed weapons and threats, and Wadsworth Solutions today announced that Cleveland Hopkins International Airport (CLE) will deploy two HEXWAVE™ systems to support its Aviation Worker Screening program.

Cleveland Hopkins International Airport serves approximately 10 million passengers annually. The systems will support CLE’s Aviation Worker Screening program at designated screening locations.

HEXWAVE detects metallic and non-metallic threats using millimeter wave technology and 3D video-rate imaging, with automatic threat detection powered by AI and deep learning algorithms. It also detects contraband and other prohibited items, including liquids, powders, plastics, vapes and other items of interest. HEXWAVE has been selected for use in aviation, government buildings, laboratories, courthouses, correctional facilities, and a range of public and commercial venues.

“We have been working closely with the team at CLE, and we look forward to supporting and enhancing its Aviation Worker Screening program as the airport continues to grow,” said Bill Frain, CEO of Liberty Defense. “With CLE, HEXWAVE will be deployed at nine airports, underscoring the growing demand for more comprehensive security screening solutions.”

Wadsworth Solutions, a leader in planning, management, installation, and integration of airport security systems, is serving as the prime contractor for this deployment. Wadsworth will install the HEXWAVE systems, provide operator training, and deliver ongoing support.

“Wadsworth Solutions is pleased to bring together a leading technology provider like Liberty Defense and a first-rate airport operator like CLE, with the shared goal of enhancing aviation security at Cleveland Hopkins International Airport,” said Matt Dillon, Vice President of Wadsworth Solutions’ Security team. “HEXWAVE is a strong complement to our security integration and support services, and we believe the technology can provide an additional layer of support to CLE’s Aviation Worker Screening program.”

For updates and news, please visit the Company website to subscribe to email alerts or follow Liberty Defense on social channels.

On Behalf of Liberty Defense
Bill Frain
CEO & Director

About Liberty Defense
Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security such as airports, stadiums, schools, and more. Liberty’s HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com

About Wadsworth Solutions

Since 1944, Wadsworth Solutions has been delivering innovative engineering and technology solutions that keep facilities safe, secure, and operating at their best. From HVAC and temperature controls to data center engineering, facility automation, and advanced security systems, our expertise is built on decades of experience. Our Security Division specializes in complex, high-security environments, including transportation, correctional, municipal, and other critical facilities. We combine proven technology with hands-on engineering expertise to deliver integrated, scalable and cost-effective security solutions. Wadsworth Solutions provides the technology, expertise, and support our customers can count on.

For sales information, please contact:

Ian McNaughton
Senior Director Business Development, Liberty Defense
613-292-3669
imcnaughton@libertydefense.com

FORWARD-LOOKING STATEMENTS
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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

Walkthrough security detection portal to support Aviation Worker Screening at the airport

WILMINGTON, Mass., Oct. 02, 2026 (GLOBE NEWSWIRE) — Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN), a leading provider of AI-based, next-generation detection solutions for concealed weapons and threats, and Wadsworth Solutions today announced that Cleveland Hopkins International Airport (CLE) will deploy two HEXWAVE™ systems to support its Aviation Worker Screening program.

Cleveland Hopkins International Airport serves approximately 10 million passengers annually. The systems will support CLE’s Aviation Worker Screening program at designated screening locations.

HEXWAVE detects metallic and non-metallic threats using millimeter wave technology and 3D video-rate imaging, with automatic threat detection powered by AI and deep learning algorithms. It also detects contraband and other prohibited items, including liquids, powders, plastics, vapes and other items of interest. HEXWAVE has been selected for use in aviation, government buildings, laboratories, courthouses, correctional facilities, and a range of public and commercial venues.

“We have been working closely with the team at CLE, and we look forward to supporting and enhancing its Aviation Worker Screening program as the airport continues to grow,” said Bill Frain, CEO of Liberty Defense. “With CLE, HEXWAVE will be deployed at nine airports, underscoring the growing demand for more comprehensive security screening solutions.”

Wadsworth Solutions, a leader in planning, management, installation, and integration of airport security systems, is serving as the prime contractor for this deployment. Wadsworth will install the HEXWAVE systems, provide operator training, and deliver ongoing support.

“Wadsworth Solutions is pleased to bring together a leading technology provider like Liberty Defense and a first-rate airport operator like CLE, with the shared goal of enhancing aviation security at Cleveland Hopkins International Airport,” said Matt Dillon, Vice President of Wadsworth Solutions’ Security team. “HEXWAVE is a strong complement to our security integration and support services, and we believe the technology can provide an additional layer of support to CLE’s Aviation Worker Screening program.”

For updates and news, please visit the Company website to subscribe to email alerts or follow Liberty Defense on social channels.

On Behalf of Liberty Defense
Bill Frain
CEO & Director

About Liberty Defense
Liberty Defense Holdings Ltd. (“Liberty” or the “Company”) (NASDAQ: DETX; TSXV: SCAN) provides multi-technology security solutions for concealed weapons detection in high volume foot traffic areas and locations requiring enhanced security such as airports, stadiums, schools, and more. Liberty’s HEXWAVE product, for which the company has secured an exclusive license from Massachusetts Institute of Technology (MIT), as well as a technology transfer agreement for patents related to active 3D radar imaging technology, provides discrete, modular, and scalable protection to provide layered, stand-off detection capability of metallic and non-metallic weapons. Liberty has also recently licensed the millimeter wave-based, High-Definition Advanced Imaging Technology (HD-AIT) body scanner and shoe scanner technologies as part of its technology portfolio. Liberty is committed to protecting communities and preserving peace of mind through superior security detection solutions. Learn more: LibertyDefense.com

About Wadsworth Solutions

Since 1944, Wadsworth Solutions has been delivering innovative engineering and technology solutions that keep facilities safe, secure, and operating at their best. From HVAC and temperature controls to data center engineering, facility automation, and advanced security systems, our expertise is built on decades of experience. Our Security Division specializes in complex, high-security environments, including transportation, correctional, municipal, and other critical facilities. We combine proven technology with hands-on engineering expertise to deliver integrated, scalable and cost-effective security solutions. Wadsworth Solutions provides the technology, expertise, and support our customers can count on.

For sales information, please contact:

Ian McNaughton
Senior Director Business Development, Liberty Defense
613-292-3669
imcnaughton@libertydefense.com

FORWARD-LOOKING STATEMENTS
When used in this press release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although Liberty believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this press release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. Such statements and information reflect the current view of Liberty. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There are a number of important factors that could cause Liberty’s actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs and expenses; and general development, market and industry conditions. The parties undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of their securities or their respective financial or operating results (as applicable).

Liberty cautions that the foregoing list of material factors is not exhaustive. When relying on Liberty’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Liberty has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Liberty as of the date of this press release and, accordingly, are subject to change after such date. Liberty does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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

SINGAPORE, Oct. 02, 2026 (GLOBE NEWSWIRE) — Phaos Technology Holdings (Cayman) Limited, (NYSE American: POAS), (“Phaos” or “the Company”), an advanced microscopy solutions headquartered in Singapore, today announces Reverse Stock Split.

At the Company’s extraordinary general meeting of shareholders held on August 31, 2026, the Company’s shareholders approved a Reverse Stock Split of the Company’s issued and outstanding Class A ordinary shares and Class B ordinary shares at a ratio of one-for-fifteen (the “Reverse Stock Split”). As a result of the Reverse Stock Split, every fifteen (15) Class A ordinary shares of par value US$0.0001 each will be consolidated into one (1) Class A ordinary share of par value US$0.0015, and every fifteen (15) Class B ordinary shares of par value US$0.0001 each will be consolidated into one (1) Class B ordinary share of par value US$0.0015. No fractional shares will be issued in connection with the Reverse Stock Split; any fractional shares that would otherwise result will be rounded up to the nearest whole share. The Reverse Stock Split will not affect any shareholder’s proportionate ownership interest in the Company, except for minor changes arising from the rounding of fractional shares. The Reverse Stock Split is expected to become effective on October 12, 2026.

About Phaos Technology Holdings (Cayman) Limited
Phaos Technology Holdings (Cayman) Limited is an advanced microscopy technology company. Our commitment to innovation and excellence drives us to deliver state-of-the-art microscopy products and software solutions, powered by artificial intelligence, for diverse sectors including manufacturing, biomedical, and research. Experience the difference with Phaos Technology – where innovation meets sophistication, shaping the future of optical technology. For more information, please visit www.phaostech.com.

Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the United States Securities and Exchange Commission, which are available, free of charge, on the SEC’s website at www.sec.gov.

For more information please contact:

Company Contact:
Phaos Technology Holdings (Cayman) Limited
(65) 6250 3877
ir@phaostech.com

SINGAPORE, Oct. 02, 2026 (GLOBE NEWSWIRE) — Phaos Technology Holdings (Cayman) Limited, (NYSE American: POAS), (“Phaos” or “the Company”), an advanced microscopy solutions headquartered in Singapore, today announces Reverse Stock Split.

At the Company’s extraordinary general meeting of shareholders held on August 31, 2026, the Company’s shareholders approved a Reverse Stock Split of the Company’s issued and outstanding Class A ordinary shares and Class B ordinary shares at a ratio of one-for-fifteen (the “Reverse Stock Split”). As a result of the Reverse Stock Split, every fifteen (15) Class A ordinary shares of par value US$0.0001 each will be consolidated into one (1) Class A ordinary share of par value US$0.0015, and every fifteen (15) Class B ordinary shares of par value US$0.0001 each will be consolidated into one (1) Class B ordinary share of par value US$0.0015. No fractional shares will be issued in connection with the Reverse Stock Split; any fractional shares that would otherwise result will be rounded up to the nearest whole share. The Reverse Stock Split will not affect any shareholder’s proportionate ownership interest in the Company, except for minor changes arising from the rounding of fractional shares. The Reverse Stock Split is expected to become effective on October 12, 2026.

About Phaos Technology Holdings (Cayman) Limited
Phaos Technology Holdings (Cayman) Limited is an advanced microscopy technology company. Our commitment to innovation and excellence drives us to deliver state-of-the-art microscopy products and software solutions, powered by artificial intelligence, for diverse sectors including manufacturing, biomedical, and research. Experience the difference with Phaos Technology – where innovation meets sophistication, shaping the future of optical technology. For more information, please visit www.phaostech.com.

Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that indicate future events or trends or are not statements of historical matters. These statements are based on our management’s current expectations and beliefs, as well as a number of assumptions concerning future events.

Such forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of our control and all of which could cause actual results to differ materially from the results discussed in the forward-looking statements. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in our reports filed with the United States Securities and Exchange Commission, which are available, free of charge, on the SEC’s website at www.sec.gov.

For more information please contact:

Company Contact:
Phaos Technology Holdings (Cayman) Limited
(65) 6250 3877
ir@phaostech.com