News & Events zu TROOPS Inc (TROO)TROOTROOPS Inc

TROOPS Appoints Jacopo Visetti as Independent Director and Sergio Carloni as COO

TROOPS, Inc. announced the appointment of Jacopo Visetti as Independent Director and Sergio Carloni as COO. These appointments further strengthen the company's leadership team as it advances its growth strategy and integration plans following the recently announced conditional sale and purchase agreement with EFFORCE Group. Carloni currently serves as CEO of EFFORCE and has held senior leadership positions across the environmental, energy, consulting and financial services sectors.

TROOPS Enters Strategic Merger Agreement with EFFORCE

TROOPS (TROO) announced that it has entered into a conditional sales and purchase agreement with EFFORCE Group. This strategic combination unites TROOPS' robust ecosystem with EFFORCE's blockchain infrastructure and regulatory credentials. Founded by Apple (AAPL) co-founder Steve Wozniak, EFFORCE has established a strong presence in the digital asset and sustainability sectors through its focus on innovative technology-driven solutions. Wozniak remains a shareholder of EFFORCE following the transaction. The proposed merger is intended to bring together complementary strengths across technology, regulatory compliance, business development, and market access. By combining their respective capabilities, the parties aim to create a stronger platform positioned to pursue opportunities across multiple segments of the evolving digital asset economy. Through this merger, TROOPS is going to gain access to EFFORCE's frameworks, expanding its operational scope beyond traditional cryptocurrency exchange capabilities into synergistic digital verticals including potential access to carbon credit and green certificate trading. The combined group intends to leverage its expanded infrastructure and industry expertise to pursue opportunities spanning digital assets, sustainability-focused initiatives, financial services integration, and related technology-driven business models. The transaction is expected to provide a foundation for future growth while enhancing the group's ability to serve institutional and commercial clients across multiple markets.

TROOPS Responds to Muddy Insights Report

TROOPS issued a statement in response to a short-selling report published by Muddy Insights concerning the Company and related legal proceedings in Hong Kong. The company said, "The Report contains speculative assertions, selective presentation of facts, and unsubstantiated conclusions regarding the Company's financial position, legal exposure, and ongoing court matters. Management strongly disagrees with the Report's characterization of events and its predictions of imminent adverse outcomes. As previously disclosed, on June 23, 2025, the High Court of the Hong Kong Special Administrative Region Court of First Instance issued a judgment in Action No. HCA 938/2022. Among other orders, the Court held that: TROOPS, Inc. and its subsidiaries SGOCO International Limited and Giant Connection Limited, amongst other defendants, are jointly and severally liable for payment of HK$163,400,000; and The Company and its subsidiary SGOCO International Limited, amongst other defendants, are jointly and severally liable for payment of HK$241,400,000. The Company and its subsidiaries are only three of eleven jointly and severally liable defendants. This indicates that the Company should be liable to pay only a portion of the judgment sum, given that other defendants are also liable for the judgment and have already provided assets to the court as security under court injunctions. In addition, the Company filed a Notice of Appeal on July 21, 2025. The Hong Kong Court of Appeal has scheduled the appeal hearing for February 24 - 26, 2027, while the hearing for stay of execution of the judgment took place on May 8, 2026 and the hearing for directions on consequential matters took place on August 20, 2026. No adverse conclusions have been reached by the Court in these hearings. Stay of execution of the judgment has been granted by the Court and remains in effect until the results of the appeal hearing scheduled for February 2027. As a result, enforcement of the judgment is stayed, and the related Cayman Islands winding-up petition continues to be adjourned in accordance with prior consent orders pending resolution of the Hong Kong appeal process. These developments directly contradict the Report's central premise of an imminent "endgame," winding-up order, or Nasdaq suspension risk arising from the August 20 hearing. The Company's legal position remains protected by the stay, and management continues to prosecute the appeal vigorously with the goal of overturning or substantially reducing the judgment. The Report recycles previously disclosed information, adds speculative interpretations about the Company's resources, trading activity, and ability to fund its defense, and draws conclusions that are neither supported by the record nor consistent with the current status of the proceedings. TROOPS, Inc. remains a going concern, continues to operate its businesses, and is committed to protecting the interests of its shareholders through the appeal and, where appropriate, other legal avenues."