NOTE 20 – SUBSEQUENT EVENTS

On January 1, 2026, the Company issued restricted stock awards to an officer for a total of 150,000 shares of restricted stock with 3-year cliff vesting with an aggregate grant-date fair value of $1,687,500 based on a $11.25 price per share.

On January 1, 2026, the Company issued restricted stock awards to eight employees for a total of 145,000 shares of restricted stock with 25/25/50 vesting with an aggregate grant-date fair value of $1,631,250 based on a $11.25 price per share.

On January 1, 2026, the Company awarded an employee 5,000 stock options which have a 5-year term and a 3-year vesting period.

On January 15, 2026, a former employee exercised options to purchase 2,500 shares. The exercises were made pursuant to the Company’s 2021 Equity Incentive Plan and were conducted in accordance with the applicable terms of the plan and the individual award agreements.

On February 1, 2026, the Company issued restricted stock awards to two employees for a total of 125,000 shares of restricted stock with 25/25/50 vesting with an aggregate grant-date fair value of $1,175,000 based on a $9.40 price per share.

Public Offering of Common Stock

On March 2, 2026, subsequent to year-end, the Company issued 8,666,666 shares of its common stock under a public offering priced at $7.50 per share, resulting in net proceeds of approximately $60.3 million net of offering costs of $4.7M. The offering was conducted pursuant to the Company’s effective shelf registration statement on Form S-3 and was led by institutional investors, including existing shareholders and new investors. The net proceeds from the offering are intended to be used to expand and further commercialize the Company’s Edge Data Center business and for working capital and general corporate purposes.

On March 3, 2026, a former employee completed a cashless exercise of stock options for 5,556 shares of the Company’s common stock.

Amended and Restated Asset Management Agreement

Subsequent to year-end, the Company entered into an Amended and Restated Asset Management Agreement (the “Amended AMA”), effective December 31, 2025, by and between Duos Energy Corporation, Inc. (“Duos Energy”), a wholly owned subsidiary of the Company, and New APR Energy LLC (formerly known as Sawgrass Buyer LLC). Under the AMA, Duos Energy will provide asset management and administrative services related to the management and commercialization of certain acquired assets. The amended agreement updated and clarified the scope of services and revised certain economic terms, including management fee structures and payment mechanics, while maintaining the overall asset management framework between the parties.

In March 2026, Duos Technologies Solutions, Inc was formed. Duos Technology Solutions, Inc provides manufacturer-agnostic sourcing, infrastructure solutions, and fulfillment services to support efficient deployment of data center and IT environments