On January 25, 2023, NextPlay Technologies, Inc. and its travel business, NextTrip Group, LLC and its subsidiaries (“NextTrip”) agreed to formally complete the separation of NextTrip from the Company (the “Separation”) whereby NextTrip agreed to issue its nonvoting preferred LLC units (the “Preferred Units”) to the Company in exchange for the Company's existing majority-owned Common Units in NextTrip thereby effectuating the separation of NextTrip from the Company. In connection with the Separation, effective January 25, 2023, William Kerby resigned from any and all positions with the Company including as Co-Chief Executive Officer. As a result of Mr. Kerby's resignation from the Co-Chief Executive Officer role, Nithinan Boonyawattanapisut will serve as the sole Chief Executive Officer of the Company.