SEC Files Civil Complaint Against Netcapital Inc.

Netcapital Inc. announced that the U.S. Securities and Exchange Commission (SEC) has filed a civil complaint against the company and certain current and former directors, officers, and other individuals. This action follows a previously disclosed Wells Notice. The company acknowledges the seriousness of this development and plans to review the complaint with its Board of Directors and legal advisors over the next seven to ten days to determine appropriate actions. Netcapital intends to provide shareholders with an update following this initial review, while remaining focused on its business operations.