Summary:
* The Company recorded net loss of USD 4.5 million in the first half of 2026,
down from a net income of USD 1.1 million in the same period of 2025.
* In the first half of 2026, the Company completed a transaction to divest the
EM business and associated operating assets. Following completion of the
transaction, the Company no longer owns or operates the EM Business, has no
employees, and holds no material assets other than a limited cash position.
* The Company's ability to continue as a going concern will be entirely
dependent on one or more of the following: (i) identifying a new business or
project opportunity, (ii) obtaining new external financing, and/or (iii) a
conversion or restructuring of the outstanding indebtedness under EMGS03. No
assurances can be given that any of the foregoing will be achievable. As of the
date of this report, there is no residual value attributable to shareholders,
other than to the extent that there is any option value, which is highly
uncertain given the material excess of the Company's total liabilities over its
total assets following the sale of the EM Business.
Contact
Glenn Pettersen, Interim Chief Executive Officer, +47 99 53 85 20
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Norwegian Securities Trading Act.\