TROOPS, Inc. (NASDAQ: TROO) said enforcement of a Hong Kong judgment involving HK$163,400,000 and HK$241,400,000 remains stayed pending its appeal, while rejecting Muddy Insights’ claims of imminent insolvency, a winding-up order or Nasdaq suspension risk. The High Court of the Hong Kong Special Administrative Region Court of First Instance issued the judgment on June 23, 2025, finding TROOPS and certain subsidiaries jointly and severally liable with other defendants. TROOPS said it and its subsidiaries are three of 11 jointly and severally liable defendants, and that other defendants have provided assets to the court as security under injunctions. The company filed a Notice of Appeal on July 21, 2025, and the Hong Kong Court of Appeal scheduled the hearing for Feb. 24-26, 2027. TROOPS said the stay remains effective until the appeal results and that a related Cayman Islands winding-up petition remains adjourned. The company said it remains a going concern and continues to operate, while noting that its forward-looking statements remain subject to risks disclosed in its U.S. Securities and Exchange Commission filings.