Lendway, Inc.

Lendway, Inc. is a specialty agricultural company that makes and manages agricultural investments in the United States and internationally. The company changed its name from Insignia Systems, Inc. on August 4, 2023, and its common stock now trades under the symbol "LDWY" on The Nasdaq Stock Market LLC. Lendway is the majority owner of Bloomia, which includes Fresh Tulips USA LLC, Bloomia B.V., and its affiliated entities. Bloomia is a significant producer of fresh cut tulips in the U.S. On February 22, 2024, Lendway acquired Bloomia B.V., the parent of Fresh Tulips USA LLC, for a purchase price of $47.5 million. This acquisition was financed with company cash, a new credit facility, promissory notes payable to the sellers, and by issuing an equity interest in the new company. Bloomia is one of the largest producers of fresh cut tulips in the United States, nurturing over 75 million stems annually. Bloomia purchases tulip bulbs, grows tulips hydroponically from these bulbs, and sells the fresh cut tulip stems to retail stores. Lendway's primary focus in the near-term will be on the Bloomia business. The purchase of Bloomia was partially financed with funds from the sale of Lendway's legacy business, which provided in-store advertising solutions, for a price of $3,500,000. The operations of this In-Store Marketing Business are presented as discontinued operations starting with the Quarterly Report on Form 10-Q for the three months ended September 30, 2023.