(As of 16/7/2025 – USA Eastern Time)

Sapien Group had earlier today filed the following motions to transfer the recent Linqto, Inc. Chapter 11 bankruptcy filing from the Southern District Court of Texas (Houston) over to Delaware.

The full motion can be viewed here:

https://ml.globenewswire.com/Resource/Download/decfbe58-96a3-422e-9c06-c06a8e06c62d

Along with our Founder, Victor Jiang’s personal declarations in support of the Court Motion:

https://ml.globenewswire.com/Resource/Download/1f8f7cc4-389b-47a4-84ab-0823ae714c1e

Our position is that:

• Dan Siciliano (Linqto CEO) filed this bankruptcy in Texas preemptively — in order to block a decisive majority of Linqto shareholders (including Sapien) who have voted to replace the board and management.

• The filing was made in a jurisdiction where Linqto was not legally eligible to file based on the surreptitious creation of the Texas entity.

• The filing of the Cases in Texas appears to be a quintessential example of improper forum shopping, with the newly formed Texas Debtor being created for the apparent purpose of manufacturing and manipulating venue.

• We further challenge the legal legitimacy of Linqto’s incumbent board, including the fact that Mr. Siciliano was never lawfully elected to the board and that key director seats were unlawfully “switched” to consolidate power — actions that run contrary to their fiduciary duties under Delaware law.

• The incumbent board also repeatedly ignored and manipulated corporate governance rules, committing violations such as not holding proper Board meetings, making inconsistent representations to shareholders, and amending company bylaws for purposes of evading shareholder approval, and various other breaches of fiduciary duties, breaches of the duty of loyalty, and securities law violations.

• This current bankruptcy filing by Siciliano el al are “part of a well-orchestrated scheme” designed to steal or redirect the shareholder’s equity without consent.