Wed, Apr 30, 8:04 PM (11 days ago)
Expion360 Inc. (XPON) filed an amendment (10-K/A) to its annual report, primarily to include Part III information and delete the disclosure regarding incorporation by reference. The amendment does not change any other items or disclosures in the original report. **Financial Performance and Strategic Overview:** - The amendment does not provide updated financial performance metrics such as revenue, net income, or operating expenses. For the most recent financial data, refer to the original 10-K filing. - The company's strategic overview and future outlook are not explicitly detailed in this amendment. **Executive Compensation:** - The amendment includes detailed information on executive compensation for the fiscal year ended December 31, 2024. - Named executive officers include Brian Schaffner (CEO and Interim CFO), Paul Shoun (Co-Founder, President, and Chairman), and Greg Aydelott (former CFO). - Total compensation for 2024: - Brian Schaffner: $294,576 - Paul Shoun: $246,226 - Greg Aydelott: $204,176 **Board of Directors and Corporate Governance:** - The board consists of five directors, including three independent directors (George Lefevre, Tien Q. Nguyen, and Steven M. Shum). - The audit committee is chaired by Steven M. Shum and includes all three independent directors. **Security Ownership:** - As of April 25, 2025, there were 3,374,468 shares of common stock outstanding. - Significant shareholders include L1 Capital Global Opportunities Master Fund and Sabby Volatility Warrant Master Fund, each owning approximately 5% of the outstanding shares. **Related Transactions and Director Independence:** - The company has adopted a related-party transaction policy and has disclosed transactions with related parties, including promissory notes issued to H. Porter Burns and James Yozamp, Jr. - A majority of the directors are independent, satisfying Nasdaq and SEC rules. **Principal Accountant Fees:** - The company's independent registered public accounting firm is M&K CPAS PLLC. - Total fees for the fiscal year ended December 31, 2024, were $126,574, including audit fees of $122,074 and tax fees of $4,500. **Market Position and Future Outlook:** - The amendment does not provide specific information on market position changes or future outlook. For detailed insights, refer to the original 10-K filing and subsequent SEC filings. **Risk Factors:** - The amendment does not explicitly list risk factors. For a comprehensive list of risk factors, refer to the original 10-K filing and other SEC disclosures. **Financial Condition:** - The amendment does not provide updated financial condition details. For the most recent financial condition, refer to the original 10-K filing. **Conclusion:** - This amendment primarily focuses on including Part III information and does not amend or update any other items or disclosures in the original report. For a comprehensive understanding of the company's financial performance, strategic overview, and risk factors, refer to the original 10-K filing and subsequent SEC disclosures.