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OFA Group鈥檚 Form 20-F covers FY 2025 (ended 31 Mar 25), the first annual report since its 22 May 25 Nasdaq IPO (symbol OFAL).

• Revenue dropped to $202,007, down 62% from $530,606 in FY 2024.
• Net loss widened to $714,680 (FY 2024: $93,197), driving an accumulated deficit of $1.03 million.
• Backlog rose to $491,279, +141% YoY, offering some future revenue visibility.
• 9,611,111 ordinary shares were outstanding at year-end.

Operations are conducted solely through a Hong Kong subsidiary; 100 % of revenue derives from fixed-price contracts. Two customers supplied 36% of FY 2025 sales, underscoring concentration risk. The filing cites extensive risk factors: competitive pressures, Hong Kong/PRC regulatory uncertainty, inflation impacts on fixed-price work, and cybersecurity threats.

The audit identified material weaknesses鈥攊nadequate segregation of duties and insufficient related-party procedures鈥攖hough management has appointed a full-time CFO, formed an independent audit committee and adopted new controls to remediate them. No PCAOB inspection impediments are noted because auditor M&K CPAS LLC is U.S. based.

Key take-away: despite a larger backlog and U.S. listing, the company remains early-stage, loss-making and exposed to execution, customer and jurisdictional risks.

Filing overview: On 29 Jul 2025 Orin Hirschman and AIGH Capital Management LLC filed Amendment No. 1 to Schedule 13G on Verastem, Inc. (VSTM). The amendment reports aggregate beneficial ownership of 2,003,179 common shares, representing 3.6 % of Verastem鈥檚 outstanding stock as of 30 Jun 2025.

Key details

• All shares are held with sole voting and dispositive power; no shared power is reported.
• Item 5 states the group now owns 鈥�5 percent or less鈥� of the class, indicating the stake has fallen below the 5 % threshold that triggered the original Schedule 13G.
• The shares are owned by AIGH Investment Partners, L.P. and WVP Emerging Manager Onshore Fund, LLC 鈥� AIGH Series, for which AIGH Capital acts as adviser; Hirschman signs as managing member.

Investor take-away: A former 5 %-plus holder has reduced its position to 3.6 %. While the group remains a meaningful shareholder, the trim may signal lower conviction or portfolio rebalancing; the reduced stake also lessens any single-holder influence over corporate decisions.

Form 4 Overview 鈥� Torrid Holdings Inc. (CURV)

On June 30, 2025 Sycamore Partners Torrid, L.L.C. and its affiliated investment vehicles (collectively, 鈥淪ycamore鈥�) filed a Form 4 reporting a significant change in their beneficial ownership of Torrid Holdings common stock. The filing covers transactions executed on June 26, 2025.

• Total shares disposed: 15,680,908.
• Disposition breakdown: (i) 9,650,000 shares sold to the public in a registered secondary offering, and (ii) 6,030,908 shares repurchased directly by the issuer in a privately-negotiated buyback.
• Price: $3.31625 per share (net of underwriting discount) for both legs of the transaction.
• Remaining ownership: 58,295,694 common shares are still reported as beneficially owned by Sycamore.
• Reporting persons: Seven Sycamore-related entities and Mr. Stefan Kaluzny (managing partner) jointly filed; each remains a >10 % owner and disclaims beneficial ownership beyond pecuniary interest.

No derivative securities were reported. The transaction code 鈥淪鈥� confirms it was a sale of non-derivative equity.

Key takeaways for investors

• Sycamore reduced its stake by roughly 15.7 million shares but still retains a sizeable holding, potentially keeping meaningful influence over the company.
• The simultaneous issuer share repurchase offsets part of the public float increase and may signal Board approval of capital return at the stated price.
• The $3.31 transaction price provides an observable valuation reference for recent large-block trades.

Nexa Resources, a Luxembourg-based mining and metals company, filed a Form 6-K to provide an update regarding its Cajamarquilla operation. The filing was submitted on June 28, 2025, with the document signed by Jos茅 Carlos del Valle, Senior Vice President of Finance and Group CFO on June 26, 2025.

Key filing details:

• Filing confirms Nexa Resources files annual reports under Form 20-F
• Company is not submitting the Form 6-K in paper format
• Information is not being furnished under Rule 12g3-2(b)
• Principal executive office is located at 37A, Avenue J.F. Kennedy, L-1855, Luxembourg

Note: The actual content of the Cajamarquilla operation update is contained in Exhibit 99.1, which is not included in this filing excerpt. Investors should refer to the complete filing to assess any material impacts on operations.