- On **August 20, 2025**, TROOPS, Inc. received a winding up petition filed by Real Estate and Finance Fund (in Liquidation) with the Grand Court of the Cayman Islands, alleging the Company's **insolvency** due to an inability to pay its debts.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- This petition arises from a **June 23, 2025**, judgment by the High Court of Hong Kong, which ordered TROOPS, Inc. and its subsidiaries, SGOCO International (HK) Limited and Giant Connection Limited, to be jointly and severally liable for **HKD 163,400,000**.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- Additionally, the judgment held TROOPS, Inc. and SGOCO International (HK) Limited jointly and severally liable for an further **HKD 241,400,000**.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- A hearing for the winding up petition is scheduled for **October 9, 2025**.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- TROOPS, Inc. is exploring legal avenues, including applications for appeal and stay of execution, to protect the interests of its shareholders.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]**

Troops, Inc. /Cayman Islands/ (TROO)