Item 4 — Purpose of Transaction
The Reporting Persons purchased the Common Stock for investment purposes. The Reporting Persons may in the future acquire additional shares of Common Stock of the Company or dispose of some or all of the shares of Common Stock of the Company held by them in open-market transactions or privately negotiated transactions, on such terms and at such times as the Reporting Persons may deem advisable, subject to applicable law. The Reporting Persons may engage in short selling or hedging or similar transactions with respect to the shares of Common Stock, on such terms and at such times as the Reporting Persons may deem advisable, subject to applicable law. On August 15, 2024, the Issuer entered into a Delayed Draw Term Note with Air T in the principal amount of $2.500,000. Pursuant to the terms of the Note, the Issuer may request from time to time prior to August 15, 2026, and Air T, may make one or more loans. The loans are solely to be used to (i) fund the operations and growth of the Issuer's business and (ii) pay transaction fees and expenses related to the note. The entire principal amount outstanding on the loans, together with accrued and unpaid interest thereon is due and payable in full on the earlier of (i) August 15, 2029, (ii) Issuer's receipt of a written demand by Air T delivered on or after February 15, 2026. and (iii) such earlier date as all principal owing thereunder becomes due and payable by acceleration or otherwise (the "Maturity Date"). The Borrower may prepay any loan outstanding, together with accrued and unpaid interest on such loan, at any time without prepayment or penalty and amounts paid or prepaid in respect of any loan may not be reborrowed. Each loan made under the note bears interest, beginning on the date such loan is advanced by the Air T to the Issuer, at a rate per annum equal to 8% as of the date of each loan. All accrued and unpaid interest on the loans is due and payable by the Borrower on the Maturity Date; provided that any default interest due under the loan is payable on demand. The obligations of the Issuer under this note rank and shall continue to rank at least senior in priority of payment to all subordinated indebtedness and all senior unsecured indebtedness of the Issuer. On September 27, 2024, the Issuer entered into an Amended and Restated Delayed Draw Term Note with Air T (the "Amended Note"). The Amended Note amends, restates, replaces and supersedes the prior Delayed Draw Term Note, dated as of August 15, 2024. The terms of the Amended Note remain essentially the same as the prior Delayed Draw Term Note except that the principal amount of the note was increased to $3,500,000. On September 15, 2025, the Issuer entered into a Promissory Note with AO Partners I, L.P. pursuant to which AO Partners I lent $1,699,844 to the Issuer. The Note has a maturity date of June 1, 2027, and bears interest at a rate per annum equal to 13.5%. Under the Note, the Issuer may enter into other Promissory Notes with other parties on the same terms (all of the Promissory notes entered into are referred to herein as "Pari Passu Notes"), and the Note provides that until all amounts outstanding under the Pari Passu Notes have been paid in full, the lenders may appoint one individual as a non-voting observer to the Issuer's board of directors. A copy of the Promissory Note is attached as Exhibit 99.3 to this filing, and is incorporated herein by reference. On September 15, 2025, the Issuer entered into a Promissory Note with Air T, Inc. pursuant to which Air T lent $1,100,156 to the Issuer. The Note has a maturity date of June 1, 2027, and bears interest at a rate per annum equal to 13.5%. Under the Note, the Issuer may enter into other Promissory Notes with other parties on the same terms (all of the Promissory notes entered into are referred to herein as "Pari Passu Notes"), and the Note provides that until all amounts outstanding under the Pari Passu Notes have been paid in full, the lenders may appoint one individual as a non-voting observer to the Issuer's board of directors. A copy of the Promissory Note is attached as Exhibit 99.4 to this filing, and is incorporated herein by reference. The Reporting Person acquired shares of the Issuer in connection with its participation in the Issuer's rights offering that commenced in February 2026 and expired on April 1, 2026. The Reporting Person received non-transferable subscription rights as a stockholder of record and exercised such rights, including, where applicable, the over-subscription privilege, to purchase shares of common stock at a subscription price of $4.05 per share. In connection with the rights offering, all of the above referenced loans were converted into shares of the Issuer. To the extent the actions described herein may be deemed to constitute a "control purpose" with respect to the Securities Exchange Act of 1934, as amended, and the regulations thereunder. the Reporting Persons have such a purpose. Except as noted i