Activists and 5% owners

Item 4, purpose of the transaction: Almost all of the shares of Common Stock beneficially owned by the Reporting Persons were acquired prior to the Issuer's 2017 initial public offering. The Reporting Persons acquired their shares of Common Stock for investment. On September 28, 2026, the Issuer, Transom Signal AcquireCo, LLC ("Parent") and Transom Signal MergerSub, Inc. ("Merger Sub") entered into an Agreement and Plan of Merger (the "Merger Agreement"). The Merger Agreement provides for a tender offer for all outstanding shares of Common Stock for $8.00 in cash per share, without interest and subject to applicable withholding, plus one non-transferable contingent value right per share, entitling the holder to up to $3.00 in …

Item 4, purpose of the transaction: This Statement on Schedule 13D relates to the acquisition of Shares by the Reporting Persons. The Shares acquired by the Reporting Persons were acquired for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer's business on behalf of the Reporting Persons' respective advisory clients. The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Issuer's Shares in particular, as well as other …

Item 4, purpose of the transaction: The Reporting Persons acquired the securities reported herein for investment purposes. The Reporting Persons have no present plans or proposals that relate to or would result in any of the transactions or matters described in Items 4(a) through 4(j) of Schedule 13D, including, without limitation, any plans or proposals to change or influence the control of the Issuer. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the Issuer's financial condition and strategic direction, actions taken by the Issuer's board of directors or management, market conditions, general economic and industry con…

Item 4, purpose of the transaction: The Reporting Persons acquired the securities of the Issuer for investment purposes. The Reporting Persons may from time to time review and consider various alternative courses of action for maximizing the value of their investment. Such alternatives may include, among other things, the acquisition of additional shares of capital stock of the Issuer on the open market, through privately negotiated transactions with the Issuer or third parties, or the sale of all or part of the Reporting Person's investment on the open market or in privately negotiated transactions. Other than set forth above, the Reporting Persons do not have any other present plans or proposals that relate to or would res…

Item 4, purpose of the transaction: The Reporting Person purchased the Common Stock based on the Reporting Person's belief that the Common Stock, when purchased, were undervalued and did not adequately reflect the potential value of the Company's underlying business and assets. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of shares at prices that would make the purchase or sale of Common Stock desirable, the Reporting Person may endeavor to increase or decrease its position in the Issuer through, among other things, the purchase or sale of Common Stock on the open market or in private transactions or otherwise, on such terms and at such times …

Item 4, purpose of the transaction: The information set forth in Items 3 and 6 of this Schedule 13D is incorporated by reference in its entirety into this Item 4. The Reporting Persons acquired the securities reported herein for investment purposes. The Reporting Persons intend to continue to review their investment in the Issuer on an ongoing basis and, in the course of their review, may take actions (including through their affiliates) with respect to their investment or the Issuer, including potentially communicating with the board of directors of the Issuer (the "Board"), members of management or other securityholders of the Issuer, or other third parties, from time to time, taking steps to implement a course of action, i…

Item 4, purpose of the transaction: The Fund acquired the securities reported herein pursuant the Forward Purchase Agreement, entered into for the purpose of acting as a potential financing pathway for the Issuer. The information set forth in Items 3, 5 and 6 of this Statement is incorporated by reference into this Item 4. Except as set forth in this Statement, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. Notwithstanding the foregoing, the Reporting Persons may determine, from time to time in the future, based on market and general economic conditions, the business affairs and financial condit…

Item 4, purpose of the transaction: General The Reporting Person intends to review her investments in the Issuer on a continuing basis. Any actions the Reporting Person might undertake may be made at any time and from time to time without prior notice and will be dependent upon the Reporting Person's review of numerous factors, including, but not limited to: an ongoing evaluation of the Issuer's business, financial condition, operations and prospects; price levels of the Issuer's securities; general market, industry and economic conditions; the relative attractiveness of alternative business and investment opportunities; and other future developments. The Reporting Person may acquire additional securities of the Issuer, or r…

Item 4, purpose of the transaction: On September 2, 2026, 3E NETWORK TECHNOLOGY PTE. LTD. and the Issuer entered into a subscription agreement (the "Subscription Agreement"), pursuant to which 3E NETWORK TECHNOLOGY PTE. LTD. agreed to purchase 701,272 Class A Ordinary Shares at US$1.42598 per share, for a total of approximately US$1,000,000. On September 10, 2026, the Issuer issued 701,262 Class A Ordinary Shares (the "Shares") to 3E NETWORK TECHNOLOGY PTE. LTD. pursuant to the Subscription Agreement. 3E NETWORK TECHNOLOGY PTE. LTD. is a company incorporated under the laws of Singapore and is 100% owned by Tingjun Yang. 3E NETWORK TECHNOLOGY PTE. LTD. purchased the Shares for investment purpose. Except as set forth in this …

Item 4, purpose of the transaction: The Reporting Persons purchased the Common Stock reported hereunder for investment purposes but the Reporting Persons and certain of their affiliates have continuously evaluated the Issuer's businesses, results of operations, and prospects. Agreement and Plan of Merger On September 28, 2026, the Issuer entered into an Agreement and Plan of Merger (the "Merger Agreement") with Transom Signal AcquireCo, LLC, a Delaware limited liability company ("Parent"), and Transom Signal MergerSub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"). Parent and Merger Sub are affiliates of and commonly controlled with the Reporting Persons. Terms used but not defined withi…

Item 4, purpose of the transaction: The Reporting Persons acquired the Common Shares to which this Schedule 13D relates in the ordinary course of business for investment purposes because they believe that the Common Shares are undervalued and represent an attractive investment opportunity. The Reporting Persons may engage in discussions with management, the Board of Directors (the "Board"), other shareholders of the Issuer and other relevant parties, including representatives of any of the foregoing, concerning the Reporting Persons' investment in the Common Shares and the Issuer, including, without limitation, matters concerning the Issuer's business, operations, board appointments, governance, performance, management, capita…

Item 4, purpose of the transaction: The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. No Reporting Person …

Item 4, purpose of the transaction: The Reporting Persons acquired the securities described herein for investment purposes. The Reporting Persons may engage in discussions with the Issuer's management, board of directors, stockholders, and other interested parties concerning potential strategic transactions, including possible merger and acquisition opportunities. The Reporting Persons may from time to time make introductions or otherwise facilitate discussions between the Issuer and third parties regarding such potential opportunities. The Reporting Persons are in discussions with third parties that may result in any of the actions described in clauses (a) through (j) of Item 4 of Schedule 13D; however, there are currently no…

Item 4, purpose of the transaction: The information set forth in Item 3 of this Schedule 13D is hereby incorporated by reference into this Item 4. The Reporting Person, at any time and from time to time, may directly or indirectly acquire additional securities of the Issuer, depending upon an ongoing evaluation of its investment in such securities, applicable legal and/or contractual restrictions, prevailing market conditions, other investment opportunities, liquidity requirements of the Reporting Person and/or other investment considerations. Except as described in this Statement, the Reporting Person does not have any present plans or proposals that relate to or would result in any of the actions described in subparagraphs…

Item 4, purpose of the transaction: The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. In connection with t…

Item 4, purpose of the transaction: The Reporting Persons purchased the Shares based on the Reporting Persons' belief that the Shares, when purchased, were undervalued and represented an attractive investment opportunity. Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of Shares at prices that would make the purchase or sale of Shares desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable. On September 29, 202…

Item 4, purpose of the transaction: The Reporting Persons initially acquired the shares of Common Stock reported herein for investment purposes. Consistent with their investment intent, the Reporting Persons regularly review their investment in the Issuer. In connection therewith, on September 25, 2026, after reviewing the Issuer's announcement that it had withdrawn its proposal (the "Withdrawn Proposal") to acquire MGM Resorts International ("MGM") and subsequent press publications regarding a potential bid by MGM to acquire the Issuer (the "Proposed Bid"), the Reporting Persons began drafting a letter supporting the Proposed Bid. Towards that end, on September 29, 2026, HighSage Ventures LLC delivered a letter (the "Letter")…

Item 4, purpose of the transaction: The information set forth in Item 3 of this Schedule 13D is hereby incorporated by reference in its entirety into this Item 4. In connection with the Stock Purchase Agreement, Tessenderlo and the Company entered into an Investor Agreement (the "Investor Agreement"), dated as of September 23, 2026. Pursuant to the Investor Agreement, the Company's Board of Directors (the "Board") has increased the size of the Board by one member and Tessenderlo has the right to nominate one candidate for appointment and election as an independent director of the Board. If Tessenderlo's director nominee ceases to serve as a director for any reason, Tessenderlo may designate a new nominee for appointment and e…

Item 4, purpose of the transaction: This Statement on Schedule 13D relates to the acquisition of Shares by the Reporting Persons. The Shares acquired by the Reporting Persons were acquired for the purpose of making an investment in the Issuer and not with the intention of acquiring control of the Issuer's business on behalf of the Reporting Persons' respective advisory clients. The Reporting Persons from time to time intend to review their investment in the Issuer on the basis of various factors, including the Issuer's business, financial condition, results of operations and prospects, general economic and industry conditions, the securities markets in general and those for the Issuer's Shares in particular, as well as other …

Item 4, purpose of the transaction: The Reporting Persons acquired the shares of Common Stock to which this Schedule 13D relates for investment purposes because they believe they represent an attractive investment opportunity. While the Reporting Persons have no present intention to dispose of all or any portion of the Common Stock beneficially owned by them, the Reporting Persons may, from time to time, modify their present intention as stated in this Item 4. In addition, they may at their discretion purchase additional shares of Common Stock of the Issuer. Any such sales of the Common Stock may be made in the open market, privately negotiated transactions, or otherwise. Except as set forth herein, no Reporting Person has any…

Item 4, purpose of the transaction: The Reporting Person acquired shares of the Issuer in connection with the transactions contemplated by the Merger Agreement. The Reporting Person may sell, transfer or otherwise dispose of shares of the Issuer in his sole discretion and at such times as he deems convenient. Except as otherwise disclosed herein, the Reporting Person has no current plans or proposals that relate to or would result in any of the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons may, at any time and from time to time, (i) review or reconsider their position and/or change their purpose and/or formulate plans or proposals with respect thereto and/or (ii) change their pos…

Item 4, purpose of the transaction: On May 28, 2025, TROOPS, Inc. (the "Company") entered into a stock purchase agreement (the "Stock Purchase Agreement") with Wang & Lee Holdings, Inc. (the "Shareholder"), pursuant to which the Company issued and sold to the Shareholder 14,050,000 ordinary shares of the Company (the "Shares") at a purchase price of US$0.90 per share, for an aggregate price of US$12,645,000 (the Consideration"). The Company and the Shareholder also entered into a lock-up agreement (the "Lock-Up Agreement") in relation to the Agreement, pursuant to which the Shareholder agrees that during a ten year lock-up period from the closing date of the Agreement (the "Lock-Up Period"), without the prior written consent o…

Item 4, purpose of the transaction: On May 9, 2024, TROOPS, Inc. (the "Company") entered into a sale and purchase agreement (the "Agreement") with LIANTENG LIMITED (the "Vendor"), for the purchase of the entire issued and outstanding share capital of Riches Holdings Limited ("Riches Holdings"), a company incorporated under the laws of Cayman Islands, for the consideration of $13,400,000 (the "Consideration"). The Consideration shall be satisfied by the Company through the issuance of convertible promissory note (the "Note") to the Vendor for the principal amount of $13,400,000. The Note was issued by the Company to the Vendor on May 9, 2024, with a Maturity Date of May 9, 2029. Upon completion of the Agreement, the Company wil…

Item 4, purpose of the transaction: On September 24, 2026, S.H.N. delivered a letter to the Issuer demanding that the Issuer convene a special general meeting of shareholders. In such letter, the S.H.N. requested that the agenda of the special general meeting include proposals to (i) remove the current members of the Issuer's board of directors other than Dr. Ellen S. Baron and Augustine Lawlor and (ii) elect S.H.N.'s nominees to the Issuer's board of directors. A copy of the letter is attached hereto as Exhibit 1. S.H.N. believes that changes to the composition of the Issuer's board of directors are necessary in order to enhance shareholder value and improve oversight of the Issuer's business and operations. S.H.N. intends t…

Item 4, purpose of the transaction: Merger Agreement On September 17, 2026 (the "Closing Date"), the Issuer completed the previously announced Merger (as defined below) pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated May 27, 2026, by and among the Issuer, Healthy Choice Wellness II Corp., a Delaware corporation and wholly owned subsidiary of the Issuer ("Merger Sub"), and Host Digital Infrastructure LLC, a Delaware limited liability company ("Host DI"). On the Closing Date, pursuant to the Merger Agreement and on the terms and conditions set forth therein, Merger Sub merged with and into Host DI, with Host DI surviving the Merger as a wholly owned subsidiary of the Issuer (the "Merger"). In connec…