On January 18, 2024, Daren Trousdell through KOAT Holdings LLC announced that it is calling on the NowVertical Group Inc to immediately publish the voting results in respect of the election of candidates to the Company's Board of Directors at the Company's Annual Meeting on October 13, 2023. Trousdell stated that the Company has failed to announce that a significant number of shareholders voted against the re-election of Scott Nirenberski, Elaine Kunda, Andre Garber, and Darrell MacMullin to the Board. Trousdell said that he supported the incumbent Board because it was required under the terms of an agreement with the Company but if he had been permitted to vote his conscience for the benefit of all shareholders, he would not have supported the election of Andre Garber, Elaine Kunda, Scott Nirenberski, Darrell MacMullin , David Charron and Chris Ford.

Trousdell added that the incumbent Board is directly responsible for significant value destruction and rapid erosion of the Company's balance sheet, and he believes that the incumbent Board should be replaced but was contractually required to vote in support at the recent Meeting. Trousdell added that he resigned as Chair of the Board and Chief Executive Officer on May 30, 2023, and he has no intention to rejoin the Board or management, but he has conveyed that it is necessary to prevent further value destruction and to execute rapidly and efficiently on the Company's strategy for growth. Additionally, Trousdell believes that new leadership is required that could provide the experience and the spark required for the Company to maximize shareholder value.