POWWP — what changed in the latest 10-K

Text added vs the prior filing · source: 10-K · 2026-06-22

• During fiscal year 2026, we implemented a range of platform enhancements designed to improve user engagement, expand service offerings, support regulatory compliance, and streamline marketplace transactions. Key enhancements include:

• Master FFL Integration: In November 2025, we initiated integration with the Master FFL platform to enhance our marketplace technology and compliance infrastructure. Master FFL is a comprehensive dealer database and compliance tool that facilitates FFL transfers. This integration is intended to expan…

• AI-Powered Listing Tool: In March 2026, we deployed a proprietary AI-powered listing tool to improve seller productivity and listing quality. The tool leverages our historical transaction data and buyer behavior insights to generate standardized and marketplace-optimized product descriptions. Integr…

• User Experience: We enhanced core user interfaces, including the account dashboard, homepage, and item view pages. Improvements include expanded notification capabilities for bidding activity, winning status, and order updates, as well as refinements to category structure and navigation to support b…

• Payments, Shipping and Transaction Support: We expanded integrations with payment and escrow service providers to support a broader range of sellers, including individual and non-merchant participants. We also enhanced shipping functionality and breadth by expanding support for additional product ca…

Text removed vs the prior filing · source: 10-K · 2025-06-16

• Throughout fiscal year 2025, we implemented a series of platform enhancements aimed at improving user engagement, streamlining transactions, and providing value-added services to both individual users and industry partners. The enhancements include the following:

• Enhanced Shopping Cart Experience: Buyers can now purchase multiple items from multiple sellers in a single checkout process, improving transaction flow and user convenience.

• Improved Checkout for Auctions and Offers: Won auctions, accepted offers, and add-on items now flow through the cart checkout system, providing a seamless purchasing experience.

• Outdoor Analytics: Formerly known as GunBroker Analytics, this tool provides participants, including sellers, manufacturers, and industry stakeholders, with access to actionable insights based on the platform’s extensive transaction and listing data.

• GunBroker Advertising: Assists sellers, manufacturers and service providers in promoting their listings and businesses through targeted digital advertising. Offers include content development, promotional emails, and banner advertisements tailored to the outdoor and shooting sports communities.

Text added vs the prior filing · source: 10-K · 2026-06-22

• Our recent platform enhancements may not achieve their intended benefits and could introduce additional operational, technological, and regulatory risks.

• During fiscal year 2026, we implemented a range of enhancements across the GunBroker Marketplace, including integration with Master FFL, a third-party dealer verification platform, deployment of a proprietary AI-powered listing tool, expanded payment, escrow, and shipping integrations, compliance an…

• Several of these enhancements depend on third-party data, services, and participation, and are subject to risks outside of our direct control. For example, the effectiveness of our Master FFL integration relies on the accuracy and

• timeliness of third-party dealer data, the willingness of federally licensed firearm dealers to participate, and our ability to adapt to evolving regulatory requirements governing firearm transfers. The success of our AI-powered listing tool depends on the quality and relevance of underlying data an…

• We compete as a two-sided, peer-to-peer marketplace, and we must attract both buyers and sellers to use our platform. Consumers who purchase products through us have many alternatives, and we face increased competitive pressure online and offline. Competitors with an e-commerce presence may increase…

Text removed vs the prior filing · source: 10-K · 2025-06-16

• Additionally, our brand and reputation are critical to our success, as they influence our ability to attract and retain buyers and sellers. A perception that our levels of responsiveness and support for our buyers and sellers are inadequate could damage our reputation and reduce our sellers’ willing…

• We compete as a two-sided, peer-to-peer marketplace, and we must attract both buyers and sellers to use our platform. Consumers who purchase products through us have many alternatives, and we face increased competitive pressure online and offline. Competitors with an e-commerce presence may increase…

• service in a variety of aspects such as improved user experience, greater ease of buying goods, lower (or no) shipping costs, faster shipping times and more favorable return policies. Manufacturers with direct-to-consumer capabilities, such as Palmetto State Armory, Ammunition Depot, Vista Outdoors,…

• Although we have integrated a variety of processes, technologies, and controls to assist in our efforts to assess, identify, and manage material cybersecurity-related risks, these efforts are not exhaustive, and our efforts may not be adequate to prevent or detect service interruption, system failur…

• change our business activities and practices in response to a security breach or related regulatory actions or litigation, which would have an adverse effect on our business.

Text added vs the prior filing · source: 10-K · 2026-06-22

• On January 18, 2024, Innovative Computer Professionals, Inc. d/b/a Digital Cash Processing (“DCP”) filed a civil action in Minnesota state court against Outdoors Online, LLC d/b/a GunBroker.com (“GunBroker.com”) for breach of contract (the “MN Action”). In the MN Action, DCP alleged that GunBroker.c…

• On February 20, 2026, we entered into a settlement agreement with DCP, resolving the MN Action. Under the terms of the settlement agreement, the Company paid to DCP $4.4 million on February 27, 2026 in full and final settlement of the MN Action. Upon payment, the parties filed a stipulated dismissal…

• contractors. The settlement does not constitute an admission of liability or wrongdoing by the Company or any of its subsidiaries.

Text removed vs the prior filing · source: 10-K · 2025-06-16

• On April 30, 2023, Steve Urvan filed suit in the Delaware Court of Chancery (the “Delaware Court”) against the Company, and certain Company directors, former directors, employees, former employees and consultants. At the time the lawsuit was filed, Mr. Urvan was a member of the Board of Directors an…

• On December 6, 2023, Steve Urvan initiated a separate action against the Company in his capacity as director under 8 Del. C. § 220(d) to inspect certain of the Company’s books and records (the “Books and Records Action”). In the Books and Records Action, Mr. Urvan alleged that the Company wrongfully…

• to certain categories of documents following demands that he made on the Company. On June 9, 2025, the Books and Records Action was dismissed pursuant to a Stipulation and Order of Dismissal.

• On January 18, 2024, Innovative Computer Professionals, Inc. d/b/a Digital Cash Processing (“DCP”) filed a civil action in Minnesota state court against Outdoors Online, LLC d/b/a GunBroker.com (“GunBroker.com”) for breach of contract (the “MN Action”). In the MN Action, DCP alleged that GunBroker.c…

Text added vs the prior filing · source: 10-K · 2026-06-22

• Outdoor Holding Company is the owner of the GunBroker Marketplace ("GunBroker" or the "Marketplace"), a leading online marketplace serving the firearms and shooting sports industries. Through our Marketplace, we allow third party sellers to list items consisting of firearms, hunting gear, fishing eq…

• We began our operations in 2017 as a producer of high-performance ammunition and premium components. Following the acquisition of the GunBroker.com business in 2021, we conducted operations through two operating and reportable segments, Ammunition and Marketplace. The Ammunition segment engaged in t…

• In fiscal year 2025, we initiated a formal review of various strategic alternatives. This review resulted in the decision to sell the Ammunition segment. On January 20, 2025, we entered into an Asset Purchase Agreement, as amended (the “Asset Purchase Agreement”) with Olin Winchester, LLC (the “Buye…

• name from “AMMO, Inc.” to “Outdoor Holding Company”. As of January 20, 2025, the Ammunition segment met the held for sale and discontinued operations accounting criteria. For information on discontinued operations, refer to Note 2 to our consolidated financial statements under the caption “Assets He…

• As described in Note 8, “Related Party Transactions” and Note 14, “Contingencies,” in April 2023, Steven F. Urvan filed a lawsuit against the Company and certain of its directors, former directors, employees, former employees, and consultants, related to the Company’s acquisition of GunBroker.com an…

Text removed vs the prior filing · source: 10-K · 2025-06-16

• Outdoor Holding Company began its operations in 2017 as a vertically integrated producer of high-performance ammunition and premium components. Following the acquisition of the GunBroker.com business in 2021, the Company conducted operations through two operating and reportable segments, Ammunition …

• In fiscal 2025, we initiated a formal review of various strategic alternatives. This review resulted in the decision to sell the Ammunition segment. On January 20, 2025, we entered into an Asset Purchase Agreement (the “Asset Purchase Agreement”) with Olin Winchester, LLC (the “Buyer”), pursuant to …

• As described in Item 3, “Legal Proceedings”, in April 2023, Steven F. Urvan filed a lawsuit against the Company and certain of its directors, former directors, employees, former employees, and consultants, related to the Company’s acquisition of GunBroker.com and certain affiliated companies. At the…

• On May 21, 2025, the Company entered into a Settlement Agreement (the “Settlement Agreement”), by and among the Company, Speedlight Group I, LLC, a Delaware limited liability company and a wholly owned subsidiary of the Company (“Speedlight”), Mr. Urvan, and the following persons, each of whom serve…

• Agreement, effective as of the Settlement Effective Date, (i) Jared Smith resigned as a member of the Board of Directors and from his position as the Chief Executive Officer of the Company and as an officer or member of each of the Company’s direct and indirect subsidiaries and (ii) Mr. Urvan was ap…