TROOPS, Inc. (NASDAQ: TROO) said enforcement of a Hong Kong judgment involving payments of HK$163,400,000 and HK$241,400,000 remains stayed pending its appeal. 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. The company said it and its subsidiaries are only three of 11 jointly and severally liable defendants, and that other defendants have provided assets to the court as security under injunctions. TROOPS filed a Notice of Appeal on July 21, 2025. The Hong Kong Court of Appeal has scheduled the appeal for Feb. 24-26, 2027. TROOPS said the stay remains effective until the appeal results, while a related Cayman Islands winding-up petition remains adjourned. The company rejected Muddy Insights’ short-selling report and its predictions of an imminent winding-up order or Nasdaq suspension risk, saying it remains a going concern and continues to operate. TROOPS also outlined businesses spanning money lending, property investment, financial technology, migration and education advisory services, and insurance referrals. Its release included forward-looking statements subject to risks involving financing, regulation, economic conditions, acquisitions, internal controls and other matters disclosed in its U.S. Securities and Exchange Commission filings.