Related Party Transactions

9 Months Ended

Sep. 30, 2026

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

Keary Global Group, Ltd. ("Keary Global") owns 250,004 shares of the Company's common stock as of September 30, 2026, which Keary Global acquired upon exercise of two convertible notes during the third quarter of 2018. Keary Global and its affiliate, Keary International, Ltd. ("Keary International"), are owned by a family member of one of

the Company’s stockholders. In addition to being a stockholder, Keary Global and Keary International are inventory suppliers and purchasing agents for the Company overseas. The Company has an ongoing agreement (the "Procurement Agreement") with Keary Global, which was amended and restated on June 26, 2025 to clarify the responsibilities of both parties under the Procurement Agreement. At September 30, 2026 and December 31, 2025, the Company has accounts payable due to Keary Global of $7,603,000 and $4,672,000, respectively. Purchases for the three months ended September 30, 2026 and 2025 from Keary Global were $9,344,000 and $4,889,000, respectively. Purchases for the nine months ended September 30, 2026 and 2025 from Keary Global were $31,807,000 and $25,812,000, respectively.

On June 26, 2025, the Company renewed the New Jersey Lease with Global Wells, extending the lease term for an additional five years to August 31, 2030. Under this lease renewal, monthly base lease payments range from $122,000 to $140,000 after an initial rent abatement period.

On September 30, 2026, Global Wells entered into a loan agreement with Lollicup, under which Lollicup provided a $12,000,000 term loan to Global Wells. The loan bears interest at a fixed rate of 6.0% per annum and matures on September 30, 2031. Principal payments of $50,000 are due on the last day of each calendar month, commencing October 31, 2026, with the remaining principal balance of $9,000,000, together with all accrued interest, payable in a lump sum on the maturity date. The intercompany loan and related interest income and expense are eliminated upon consolidation.