What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2026-03-17 compared with 2025-03-24 · 239 added, 249 removed, 12 unchanged (98% of the section changed)

Company Overview

Prior to the completion of the Transactions, we

operated a network of consumer applications.

Our product portfolio included Paltalk, Camfrog and Tinychat, which together hosted a large

collection of video-based communities.

Our other products included Vumber, which is a telecommunications services provider that enables

users to communicate privately by having multiple phone numbers with any area code through which calls can be forwarded to a user’s

existing telephone number.

As discussed below, following the Transactions, we continue to support our ManyCam software, which is a live

streaming software and virtual camera that allows users to deliver professional live videos on streaming platforms, video conferencing

apps and distance learning tools.

Following the Transactions, we provide a comprehensive

range of IT-related services, including dedicated server hosting, cloud hosting, data storage, managed security, backup and disaster recovery,

and other related services including consulting and implementing technology solutions for large enterprise and commercial clients across

the United States as well as small-and-medium sized businesses.

We have an over 20-year history of technology innovation and hold eight

We were incorporated under the laws of the State of Delaware in 2005.

Our principal executive office is located at 30 Jericho Executive Plaza Suite 400E, Jericho, NY 11753.

Our IT and Cloud-Based Solutions

We sell and provide a range of services across

five core areas, each as further described below:

managed IT security services, professional services, procurement services, secure private

cloud hosting, managed backup and disaster recovery and web hosting.

Managed IT Security Services

Our managed IT security services provide clients

with ongoing management and support of their IT systems and services under a subscription or contract-based model.

Our managed IT security

services include proactive monitoring, regular system maintenance, comprehensive cybersecurity management, data backup, and disaster recovery,

as well as help desk support for users.

Managed IT security services are intended to ensure that a client’s IT infrastructure and

services remain operational, secure and optimized.

Customers of our managed IT security services typically pay a recurring fee, often

based on service-level agreements that define the specific services and performance metrics.

Professional Services

We provide a comprehensive range of IT-related

services, including managed IT security services, secure private cloud hosting, managed backup and disaster recovery, professional services,

procurement services, web hosting, and other related services including consulting and implementing technology solutions for large enterprise

and commercial clients across the United States as well as small-and-medium sized businesses.

We also offer and support our ManyCam software,

which is a live streaming software and virtual camera that allows users to deliver professional live videos on streaming platforms, video

conferencing apps and distance learning tools.

We have an over 20-year history of technology innovation and hold eight patents.

On January 2, 2025 (the “Closing Date”),

we completed (i) the acquisition of Newtek Technology Solutions, Inc., a New York corporation (“NTS”), and such acquisition,

the “Acquisition”), and (ii) the sale of our telecommunications services provider, “Vumber”, as well as our “Paltalk”

and “Camfrog” applications and certain assets and liabilities related to such services provider and applications (such sale,

the “Divestiture,” and, together with the Acquisition, the “Transactions”).

Prior to the completion of the Transactions,

we operated a network of consumer applications.

Our product portfolio included Paltalk, Camfrog and Tinychat, which together hosted a

large collection of video-based communities.

Our other products included Vumber, a telecommunications service provider.

Following the

Divestiture, we are no longer engaged in the business of providing video-based, live streaming, virtual camera and telecommunications

software to consumers, as and to the extent such businesses were previously conducted by us pursuant to the Vumber, Paltalk and Camfrog

applications.

In addition, prior to the Closing Date, we ceased all operations of our Tinychat service and application.

were incorporated under the laws of the State of Delaware in 2005.

Our principal executive office is located at 30 Jericho Executive

Plaza Suite 400E, Jericho, NY 11753.

IT and Cloud-Based Solutions

sell and provide a range of services across six core areas, each as further described below:

(i) managed IT security services, (ii) secure

private cloud hosting, (iii) managed backup and disaster recovery, (iv) professional services, (v) procurement services and (vi) web hosting.

IT Security Services

managed IT security services provide clients with ongoing management and support of their IT systems and services under a subscription

or contract-based model.

Our managed IT security services include proactive monitoring, regular system maintenance, comprehensive cybersecurity

management, data backup, and disaster recovery, as well as help desk support for users.

Managed IT security services are intended to

ensure that a client’s IT infrastructure and services remain operational, secure and optimized.

Customers of our managed IT security

services typically pay a recurring fee, often based on service-level agreements that define the specific services and performance metrics.

Private Cloud Hosting

Our secure private cloud hosting offerings include

a digital infrastructure, which consists of dedicated and fully isolated cloud environments designed to deliver security, control and

compliance for business-critical applications and client data.

operate a secure private cloud from private suites in completely isolated areas that are leased within two Tier 3 data center facilities

located in Phoenix, Arizona, and Edison, New Jersey (the “Data Centers”), pursuant to certain license agreements.

As of December

31, 2025, the terms of the license agreements for the Data Centers located in Arizona and New Jersey extended through 2027 and 2026,

respectively.

Subsequent to year end, we amended our agreement with the Data Center in Phoenix, Arizona through August 31, 2032.

we do not own or operate the Data Centers, we aim to use the high-level operations and standards provided by the Data Centers through

our license agreements to provide our customers with secure and flexible cloud services.

The Data Centers each conform to The Uptime

Institute’s Tier 3 Certification, which is a globally recognized standard for validating critical data center infrastructure.

Tier 3 classification provides us with a degree of confidence that the Data Centers provide the necessary power, cooling, maintenance,

and fault tolerance required for secure and reliable operations.

Our critical infrastructure, hosted within the Data Centers, is designed

to meet and exceed Tier 3 standards in all relevant categories.

This allows us to deliver secure and compliant services to customers

within heavily regulated industries, including financial services and healthcare, and other industries.

Additionally, we incorporate

a redundant, carrier-neutral network design for communications paths, along with multiple hosting locations for our services, which improve

the availability and resilience of our cloud services.

leverage state-of-the-art security measures, including data encryption, network segmentation, advanced firewalls, multi-factor authentication

and continuous monitoring to safeguard against unauthorized access and cyber threats.

We believe our secure private cloud hosting provides

our clients with strong availability, data integrity and reliable performance, while meeting stringent compliance requirements.

private cloud hosting solutions are backed by 24/7 support from our expert team, with the goal of delivering secure, flexible and resilient

infrastructure tailored to each client’s unique business needs.

We actively engage with third

parties to enhance our secure private cloud offerings with artificial intelligence (“AI”) features and benefits.

from such cloud services is recognized ratably over the period in which the cloud services are provided.

Backup and Disaster Recovery

managed backup and disaster recovery solutions provide comprehensive protection for customers’ critical data and IT infrastructure,

which is intended to ensure business continuity and rapid recovery in the event of data loss, cyberattacks or system failures.

advanced backup technologies with automated, regular data backups, off-site replication and secure storage to prevent data corruption

Our disaster recovery solutions are designed to offer quick restoration of systems and data with minimal downtime, supported

by flexible recovery plans tailored to meet customers’ specific needs.

With continuous monitoring, end-to-end encryption, and expert

support available 24/7, we aim to ensure that our customers’ data is secure, accessible and compliant with industry standards.

Pricing for our managed backup and disaster recovery solutions is based upon the customer contract and depends on the amount of backup

storage needed.

Customers are typically charged set rates per the contract and are charged monthly based on usage.

Our professional services include the design and

implementation of a wide range of IT products and services, such as cybersecurity, software planning, IT infrastructure, data center design

and configuration, designing and implementing on-premises, hybrid or cloud computing solutions, website development, developing or integrating

systems and software and IT cost management.

Customers of our professional services are typically invoiced either based on a time and

materials basis or on a straight-line basis for all fixed fee arrangements.

Procurement Services

We offer two types of procurement services to our customers.

(i) obtain software and hardware products on behalf of our customers, in which case our vendors drop ship the products to our

end customers, or (ii) obtain hardware or software on behalf of our customers and perform additional configuration and/or add additional

inputs to the products before the products are shipped to our customers.

In the instance where we sell hardware and software products

as a solution bundled with services, we typically obtain the products or software from our vendors, add the additional inputs/configuration

as detailed in the customer contract, and then ship the products to the end customer.

For each type of procurement service, our customers

have their own negotiated contract and payment terms.

When we provide a combination of hardware and software products with the provision

of services, we will separately identify our performance obligations under the contract and the hardware and/or software products or services

that will be provided.

The total transaction price for an arrangement with multiple performance obligations is typically allocated at

contract inception to each performance obligation in proportion to the stand-alone selling price of the hardware or software.

price is the price at which we would sell a promised good or service separately to a customer.

We estimate the price based on observable

inputs, including direct labor hours and allocable costs, or use observable stand-alone prices when they are available.

Secure Private Cloud Hosting

Our secure private cloud hosting offerings include

a digital infrastructure which consists of dedicated and fully isolated cloud environments designed to deliver security, control and compliance

for business-critical applications and client data.

We operate a secure private cloud from private

suites in completely isolated areas that are leased within two Tier 3 data center facilities located in Phoenix, Arizona, and Edison,

New Jersey (the “Data Centers”), pursuant to certain license agreements.

The terms of the license agreements for the Data

Centers located in Arizona and New Jersey extend through 2027 and 2026, respectively.

Although we do not own or operate the Data Centers,

we aim to use the high-level operations and standards provided by the Data Centers through our license agreements to provide our customers

with secure and flexible cloud services.

The Data Centers each conform to The Uptime Institute’s Tier 3 Certification, which is

a globally recognized standard for validating critical data center infrastructure.

The Tier 3 classification provides us with a degree

of confidence that the Data Centers provide the necessary power, cooling, maintenance, and fault tolerance required for secure and reliable

Our critical infrastructure, hosted within the Data Centers, is designed to meet and exceed Tier 3 standards in all relevant

This allows us to deliver secure and compliant services to customers within heavily regulated industries, including financial

services, healthcare, and other highly regulated industries.

Additionally, we incorporate a redundant, carrier-neutral network design

for communications paths, along with multiple hosting locations for our services, which improve the availability and resilience of our

cloud services.

We leverage state-of-the-art security measures,

including data encryption, network segmentation, advanced firewalls, multi-factor authentication and continuous monitoring to safeguard

against unauthorized access and cyber threats.

We believe our secure private cloud hosting provides our clients with strong availability,

data integrity and reliable performance, while meeting stringent compliance requirements.

Our secure private cloud hosting solutions are

backed by 24/7 support from our expert team, with the goal of delivering secure, flexible and resilient infrastructure tailored to each

client’s unique business needs.

In the future, we plan to make arrangements with third parties to incorporate artificial intelligence

(“AI”) features into our secure private cloud offerings.

Revenue from such cloud services is recognized ratably over the period

in which the cloud services are provided.

Managed Backup and Disaster Recovery

Our managed backup and disaster recovery solutions

provide comprehensive protection for customers’ critical data and IT infrastructure, which is intended to ensure business continuity

and rapid recovery in the event of data loss, cyberattacks or system failures.

We utilize advanced backup technologies with automated,

regular data backups, off-site replication and secure storage to prevent data corruption or loss.

Our disaster recovery solutions are

designed to offer quick restoration of systems and data with minimal downtime, supported by flexible recovery plans tailored to meet customers’

specific needs.

With continuous monitoring, end-to-end encryption, and expert support available 24/7, we aim to ensure that our customers’

data is secure, accessible and compliant with industry standards.

Pricing for our managed backup and disaster recovery solutions is based

upon the customer contract and depends on the amount of backup storage needed.

Customers are typically charged set rates per the contract

and are charged monthly based on usage.

Our web hosting services consist of several advanced

security measures, including Secure Sockets Layer and Transport Layer Security (“SSL/TLS”) encryption, firewalls, distributed

denial-of-service (“DDoS”) protection, malware scanning, and secure server configurations.

Our web hosting services include

features such as regular data backups, web application firewalls, strict access control policies and continuous monitoring and expert

support, all of which are intended to ensure our customers’ compliance with industry standards and provide a reliable and secure

environment for our customers’ online presence.

Our web hosting services are designed to provide customer websites with an additional

layer of protection from cyber attacks and threats.

Each of our customers has their own contract and payment terms with respect to our

web hosting services.

The duration of such contracts is typically between one and four years, although the term may vary based on the

needs of each particular customer.

Customers of our web hosting services are invoiced on a monthly basis and pay a monthly fee, with revenue

recognized on a monthly basis.

Our ManyCam Software Product

Following the Transactions, we continue to support

our ManyCam software, which is a live streaming software and virtual camera that allows users to deliver professional live videos on streaming

platforms, video conferencing apps and distance learning tools.

The ManyCam software provides multiple camera feeds, backgrounds and effects

while also enabling users to share presentations, spreadsheets and documents.

We anticipate integrating ManyCam as an offering for our

new customers and seek to optimize our cross-selling efforts of ManyCam with our other technology solutions.

We serve a diverse customer

base across various industries including, among others, finance, legal, healthcare and manufacturing, providing innovative solutions that

enhance operational reliability and prevent cybersecurity risk.

Other than our procurement

services, our business generally does not experience significant seasonality, and demand for our solutions remains steady throughout the

Our procurement services experience a seasonal pattern as revenues will typically be lower as our customers get closer to the end

of their budgeted spending periods, which generally tend to be the fourth quarter.

Employees and Human Capital

We are committed to fostering a diverse and inclusive workplace, investing

in employee development, and maintaining a strong culture of innovation and collaboration.

As of March 14, 2025, we had 55 full-time employees

and one part-time employee.

We believe that our future success depends, in part, on our continued ability to hire, assimilate and retain

qualified personnel.

We attract and retain employees by offering training, bonus opportunities, competitive salaries and a comprehensive

benefits package.

Company Business Strategies

Cloud Infrastructure and Cybersecurity Solutions

Our continued growth depends on attracting new

customers through the introduction of new services and further penetration of the cloud infrastructure and cybersecurity sectors.

principal growth strategy is to invest in the development of proprietary solutions, expand our sales and marketing efforts with respect

to such solutions, and increase our customer base through potential platform partnerships and new and existing advertising campaigns that

we run through internet and mobile advertising networks, all while balancing the capital needs of our business.

With respect to our cloud

infrastructure solutions, we intend to drive growth by leveraging strategic partnerships, expanding our market reach by leveraging our

high-performance, scalable solutions, and optimizing deployment speed to meet the evolving needs of enterprises migrating to the cloud.

Our strategy for cybersecurity solutions focuses on delivering cutting-edge, compliance-driven security solutions through an integrated

approach, prioritizing proactive threat mitigation, automation, and seamless implementation to enhance customer trust and accelerate adoption.

Our strategy is to approach these opportunities

in a measured way, being mindful of our resources and evaluating factors such as potential revenue, time to market and amount of capital

needed to invest in the opportunity.

Acquiring and Investing in Complementary Technologies

and Businesses

and configuration, hybrid or cloud computing solutions, website development, developing or integrating systems and software, and IT cost

In addition, we are planning to launch an AI Data Readiness solution in the second quarter of 2026 that we believe will improve

the reliability, security, and outcome of adopting AI technologies by assessing, structuring, and securing business data in a safe and

effective manner.

offer two types of procurement services to our customers.

We can either:

(i) obtain software and hardware products on behalf of our customers,

in which case our vendors drop ship the products to our end customers, or (ii) obtain hardware or software on behalf of our customers

and perform additional configuration and/or add additional inputs to the products before the products are shipped to our customers.

the instance where we sell hardware and software products as a solution bundled with services, we typically obtain the products or software

from our vendors, add the additional inputs/configuration as detailed in the customer contract,

and then ship the products to the end customer.

For each type of procurement service, our customers have their own negotiated contract

and payment terms.

When we provide a combination of hardware and software products with the provision of services, we will separately

identify our performance obligations under the contract and the hardware and/or software products or services that will be provided.

The total transaction price for an arrangement with multiple performance obligations is typically allocated at contract inception to

each performance obligation in proportion to the stand-alone selling price of the hardware or software.

The selling price is the price

at which we would sell a promised good or service separately to a customer.

We estimate the price based on observable inputs, including

direct labor hours and allocable costs, or use observable stand-alone prices when they are available.

web hosting services consist of several advanced security measures, including Secure Sockets Layer and Transport Layer Security (“SSL/TLS”)

encryption, firewalls, distributed denial-of-service (“DDoS”) protection, malware scanning, and secure server configurations.

Our web hosting services include features such as regular data backups, web application firewalls, strict access control policies and

continuous monitoring and expert support, all of which are intended to ensure our customers’ compliance with industry standards

and provide a reliable and secure environment for our customers’ online presence.

Our web hosting services are designed to provide

customer websites with an additional layer of protection from cyber attacks and threats.

Each of our customers has their own contract

and payment terms with respect to our web hosting services.

The duration of such contracts is typically between one and four years, although

the term may vary based on the needs of each particular customer.

Customers of our web hosting services are invoiced on a monthly basis

and pay a monthly fee, with revenue recognized on a monthly basis.

ManyCam Software Product

addition to our IT and cloud-based solutions, we offer and support our ManyCam software, which is a live streaming software and virtual

camera that allows users to deliver professional live videos on streaming platforms, video conferencing apps and distance learning tools.

The ManyCam software provides multiple camera feeds, backgrounds and effects while also enabling users to share presentations, spreadsheets

and documents.

We cross sell ManyCam as an offering for our customers and seek to optimize our cross-selling efforts of ManyCam with

our other technology solutions.

serve a diverse customer base across various industries including, among others, finance, legal, healthcare and manufacturing, providing

innovative solutions that enhance operational reliability and prevent cybersecurity risk.

than our procurement services, our business generally does not experience significant seasonality, and demand for our solutions remains

steady throughout the year.

Our procurement services experience a seasonal pattern, as revenues are typically lower as our customers

get closer to the end of their budgeted spending periods, which generally tend to be the fourth quarter of a given fiscal year.

and Human Capital

are committed to fostering a diverse and inclusive workplace, investing in employee development, and maintaining a strong culture of

innovation and collaboration.

As of March 13, 2026, we had 53 full-time employees and one part-time employee.

We believe that our future

success depends, in part, on our continued ability to hire, assimilate and retain qualified personnel.

We attract and retain employees

by offering training, bonus opportunities, competitive salaries and a comprehensive benefits package.

Business Strategies

Infrastructure and Cybersecurity Solutions

continued growth depends on attracting new customers through the introduction of new services and further penetration of the cloud infrastructure

and cybersecurity sectors.

Our principal growth strategy is to invest in the development of proprietary solutions, expand our sales and

marketing efforts with respect to such solutions, and increase our customer base through potential platform partnerships and new and

existing advertising campaigns that we run through internet and mobile advertising networks, all while balancing the capital needs of

our business.

With respect to our cloud infrastructure solutions, we intend to drive growth by leveraging strategic partnerships, expanding

our market reach by leveraging our high-performance, scalable solutions, and optimizing deployment speed to meet the evolving needs of

enterprises migrating to the cloud.

Our strategy for cybersecurity solutions focuses on delivering cutting-edge, compliance-driven security

solutions through an integrated approach, prioritizing proactive threat mitigation, automation, and seamless implementation to enhance

customer trust and accelerate adoption.

strategy is to approach these opportunities in a measured way, being mindful of our resources and evaluating factors such as potential

revenue, time to market and amount of capital needed to invest in the opportunity.

and Investing in Complementary Technologies and Businesses

Our strategy also includes acquiring or investing

in technologies, solutions or businesses that complement our business and cross-selling them to additional synergistic businesses.

furtherance of this strategy, we have strategically added specialized employees and complementary companies, products and technologies

to our existing business.

In addition, we continue to explore strategic opportunities, including, but not limited to, potential mergers

or acquisitions of other assets or entities that are synergistic to our business.

Defend our Intellectual Property

We have a portfolio of eight issued patents.

have successfully defended certain of our intellectual property in the past and have historically generated revenue through licensing

fees for the use of our patents.

We intend to continue defending our intellectual property rights.

Marketing Strategy

in advertising and marketing primarily for the purpose of acquiring customers for our products and solutions.

By emphasizing our

deep expertise in cloud infrastructure, cybersecurity, and managed services, we differentiate from commodity providers through a consultative

approach that drives strategic value.

We aim to accelerate growth through targeted industry verticals, strategic partnerships, and direct

client engagement, leveraging our proven ability to streamline IT operations, enhance security postures, and enable businesses to focus

on their core objectives.

We believe our proactive, high-touch service model ensures long-term client relationships and sustained competitive

advantage in a rapidly evolving market.

We sell our solutions exclusively through our sales force.

force is comprised of senior account executives that concentrate on named account territories, senior solution architects that provide

dedicated support to our senior account executives and affiliate sales efforts, as well as other sales personnel that manage inbound leads

from our website and referrals from Newtek under our referral arrangement.

In addition to managing client relationships, our sales force

is focused on expanding the number of solutions our customers purchase from us by introducing them to additional solutions.

Going forward,

we plan to utilize search engine optimization, search engine marketing, generative engine optimization and targeted marketing campaigns

in furtherance of our goals.

Competition and Our Industry

Competition in our industry remains fierce.

market for cloud-managed IT and cybersecurity solutions is extremely dynamic and is undergoing constant change.

We believe this environment

creates significant opportunities for us as well as our direct and indirect competitors.

Our principal competitors are managed IT service

providers, such as Konica Minolta Business Solutions, Rackspace Technology, Inc., Cognizant Technology Solutions Corporation, NTT Ltd.,

All Covered, Flexential, DXC Technology Company, Logicalis Group, Insight Enterprises, Inc., and CDW Corporation.

Many of our competitors have substantially greater

financial, managerial, technological and other resources than we do and may be more effective at developing, promoting and supporting

their products.

Additionally, our competitors may offer products and services that we do not provide, which may have desirable features

or may be offered at lower prices.

In addition, many of our competitors have more extensive customer bases and broader customer relationships

than we have, including relationships with our potential customers.

Additionally, in the future, we plan to make arrangements with

third parties to incorporate AI features into our secure private cloud offerings.

Developments in the AI sector are occurring at a rapid

pace, and our competitors’ services may already include AI features.

In order to compete effectively, we seek to offer

solutions that are differentiated from existing services, superior in quality and more appealing than those of our competitors.

that our solutions compete favorably against those offered by our competitors due to our hands-on, white-glove consulting approach, which

we believe goes beyond standard offerings to deliver personalized, expert driven solutions.

Unlike providers that take a one-size-fits-all-approach,

we aim to strategically advise our customers, enabling businesses to offload complex IT, cloud, and cybersecurity needs to a trusted advisor.

This allows our customers to focus on higher-value initiatives, while we provide execution, proactive problem solving, and a fully-optimized

technology environment tailored to their specific goals.

Governmental Regulations and Other Compliance Obligations

furtherance of this strategy, we have strategically added specialized employees and complementary products and technologies to our existing

In addition, we continue to explore strategic opportunities, including, but not limited to, potential mergers or acquisitions

of other assets or entities that are synergistic to our business.

our Intellectual Property

of the date of this report, we have a portfolio of eight issued patents.

We have successfully defended certain of our intellectual property

in the past and have historically generated revenue through licensing fees for the use of our patents.

We intend to continue defending

our intellectual property rights.

We invest in advertising and marketing primarily

for the purpose of acquiring clients for our products and solutions.

By emphasizing our deep expertise in cloud infrastructure, cybersecurity

and managed services, we differentiate from commodity providers through a consultative approach that drives strategic value.

accelerate growth through targeted industry verticals, strategic partnerships, and direct client engagement, leveraging our proven ability

to streamline IT operations, enhance security postures, and enable businesses to focus on their core objectives.

We believe our proactive,

high-touch service model ensures long-term client relationships and sustained competitive advantage in a rapidly evolving market.

sell our solutions exclusively through our sales force.

Our sales force is comprised of senior account executives that concentrate

on named account territories, senior solution architects that provide dedicated support to our senior account executives and

affiliate sales efforts, as well as other sales personnel that manage inbound leads from our website and referrals from NewtekOne,

(“Newtek”) under our referral arrangement (as further described below).

In addition to managing client

relationships, our sales force is focused on expanding the number of solutions our customers purchase from us by introducing them to

additional solutions.

We also utilize search engine optimization, search engine marketing, generative engine optimization and

targeted marketing campaigns in furtherance of our goals.

and Our Industry

in our industry remains fierce.

The market for cloud-managed IT and cybersecurity solutions is extremely dynamic and is undergoing constant

We believe this environment creates significant opportunities for us as well as our direct and indirect competitors.

Our principal

competitors are managed IT service providers, such as Konica Minolta Business Solutions, Rackspace Technology, Inc., Cognizant Technology

Solutions Corporation, NTT Ltd., All Covered, Flexential, DXC Technology Company, Logicalis Group, Insight Enterprises, Inc.

of our competitors have substantially greater financial, managerial, technological and other resources than we do and may be more effective

at developing, promoting and supporting their products.

Additionally, our competitors may offer products and services that we do not

provide, which may have desirable features or may be offered at lower prices.

In addition, many of our competitors have more extensive

customer bases and broader customer relationships than we have, including relationships with our potential customers.

Additionally,

we have arrangements with several third-party partners that enable us to incorporate AI features into our secure private cloud offerings.

Developments in the AI sector are occurring at a rapid pace, and our competitors’ services may already include similar or superior

order to compete effectively, we seek to offer solutions that are differentiated from existing services, superior in quality and more

appealing than those of our competitors.

We believe that our solutions compete favorably against those offered by our competitors due

to our hands-on, white-glove consulting approach, which we believe goes beyond standard offerings to deliver personalized, expert driven

Unlike providers that take a one-size-fits-all-approach, we aim to strategically advise our customers, enabling businesses

to offload complex IT, cloud, and cybersecurity needs to a trusted advisor.

This allows our customers to focus on higher-value initiatives,

while we provide execution, proactive problem solving, and a fully-optimized technology environment tailored to their specific goals.

Regulations and Other Compliance Obligations

We are subject to a number of U.S.

2 unchanged sentences

These laws and regulations may involve, among other

things, AI, intellectual property, distribution, electronic contracts, competition, wiretapping, consumer protection and taxation.

application and interpretation of these laws, regulations and policies are often uncertain and may have unpredictable consequences, particularly

in the new and rapidly evolving industry in which we operate.

things, AI, intellectual property, distribution of content, electronic contracts, competition, wiretapping, consumer protection and taxation.

The application and interpretation of these laws, regulations and policies are often uncertain and may have unpredictable consequences,

particularly in the new and rapidly evolving industry in which we operate.

We are subject to periodic examination by regulators

1 unchanged sentence

of Technology Services Providers and the Gramm-Leach-Bliley Act of 1999, and federal, state and other laws that apply to technology service

providers as a result of the services we provide to the institutions and entities they regulate.

As a technology service provider, we

are examined by federal financial regulators on a rotating basis.

These examinations are based on guidance from the FFIEC, which is a

formal interagency body empowered to prescribe uniform principles, standards and report forms for the examination of financial institutions

and to make recommendations to promote uniformity in the supervision of financial institutions.

The examinations cover a wide variety

of subjects, including our management, acquisition and development activities, support and delivery, information technology audits, cybersecurity,

as well as our disaster preparedness and business recovery planning.

The FFIEC has broad supervisory authority to remedy any shortcomings

identified in an examination.

Following an examination, our financial institution customers may request the open section of the report

of examination through their lead examination agency.

The regulatory landscape related to generative

AI and machine learning is rapidly evolving and is likely to remain uncertain for the foreseeable future.

As we develop products or incorporate

technologies from third parties, such as generative AI and machine learning, we must comply with applicable laws and regulation.

Company Internet Site and Availability of SEC Filings

Our corporate website is located at www.ipm.com .

We make available on that site, as soon as reasonably practicable, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, proxy

statements, Current Reports on Form 8-K, other reports filed with or furnished to the Securities and Exchange Commission (“SEC”),

as well as any amendments to those filings.

Our SEC filings, as well as our Code of Conduct and other corporate governance documents,

can be found in the Investor Relations section of our site and are available free of charge.

Amendments to our Code of Conduct and any

grant of a waiver from a provision of the Code of Conduct requiring disclosure under applicable SEC rules will be disclosed on our website.

providers for financial institutions, as a result of the services we provide to the institutions and entities they regulate.

As a technology

service provider, we are examined by federal financial regulators on a rotating basis.

These examinations are based on guidance from the

FFIEC, which is a formal interagency body empowered to prescribe uniform principles, standards and report forms for the examination of

financial institutions and to make recommendations to promote uniformity in the supervision of financial institutions.

The examinations

cover a wide variety of subjects, including our management, acquisition and development activities, support and delivery, information

technology audits, cybersecurity, as well as our disaster preparedness and business recovery planning.

The FFIEC has broad supervisory

authority to remedy any shortcomings identified in an examination.

Following an examination, our financial institution customers may request

the open section of the report of examination through their lead examination agency.

In addition, the regulatory landscape related

to generative AI and machine learning is rapidly evolving and is likely to remain uncertain for the foreseeable future.

As we develop

products or incorporate generative AI and machine learning technologies from third parties, we must comply with applicable laws and regulations.

Internet Site and Availability of SEC Filings

corporate website is located at www.ipm.com .

We make available on that site, as soon as reasonably practicable, our Annual Reports

on Form 10-K, Quarterly Reports on Form 10-Q, proxy statements, Current Reports on Form 8-K, other reports filed with or furnished to

the Securities and Exchange Commission (“SEC”), as well as any amendments to those filings.

Our SEC filings, as well as our

Code of Conduct and other corporate governance documents, can be found in the Investor Relations section of our site and are available

free of charge.

Amendments to our Code of Conduct and any grant of a waiver from a provision of the Code of Conduct requiring disclosure

under applicable SEC rules will be disclosed on our website.

Information on our website is not part of this Annual Report on Form 10-K.

In addition, the SEC maintains a website at www.sec.gov

that contains reports, proxy and information statements, and other information regarding us and other issuers that file electronically

with the SEC.

In addition, the SEC maintains a website at www.sec.gov that contains reports, proxy and information statements, and other information

regarding us and other issuers that file electronically with the SEC.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business