Stratum Holdings CEO Issues Shareholder Letter Highlighting Progress in AI Infrastructure Transformation

The proposed real estate exit would transfer specified liabilities to the buyer if completed.

Rhea-AI Summary

Stratum Holdings (SRTM) outlined its AI infrastructure transition, including acquired NVIDIA B300 GPUs placed under a 32-month non-cancelable lease.

The lease is intended to generate recurring revenue, and Stratum is pursuing additional GPU leasing arrangements. A non-binding letter of intent covers the proposed sale of substantially all legacy real estate business assets. Stratum expects a definitive sale agreement by year-end 2026 and, if completed, expects the divestiture to remove certain liabilities and reduce operating costs and working-capital needs.

A separate non-binding letter of intent with Ocean Power Technologies explores offshore, renewable-powered computing. A demonstration program depends on a definitive agreement; potential benefits remain unvalidated through testing. Stratum maintains its goal of profitability in 2027.

4 points · 1 major

PositiveiHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.NVIDIA B300 GPUs acquired and placed under a 32-month non-cancelable lease intended to generate recurring revenue.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Proposed real estate divestiture is expected, if completed, to remove certain liabilities and reduce operating costs and working-capital requirements.
• Minor point. Forward-looking: it has not happened yet and may not happen.Additional GPU leasing arrangements are being pursued to expand computing assets and potential recurring revenue.
• Minor point. Forward-looking: it has not happened yet and may not happen.Stratum maintains its goal of profitability in 2027 through revenue growth, operating efficiencies and disciplined capital allocation.

Negative

• Moderate pointSale of substantially all legacy real estate assets remains non-binding; Stratum expects a definitive agreement by year-end 2026.
• Moderate pointOcean Power Technologies collaboration remains non-binding; the proposed demonstration program depends on reaching a definitive agreement.
• Minor point. Forward-looking: it has not happened yet and may not happen.Offshore computing benefits remain unvalidated and require testing of technical and operational feasibility.

Key Figures

GPU lease term: 32 months Definitive sale agreement target: Year-end 2026 Profitability goal: 2027

GPU lease term

32 months

Non-cancelable lease intended to generate recurring revenue

Definitive sale agreement target

Year-end 2026

Company expects to enter an agreement for the proposed real estate divestiture

Profitability goal

2027

Company-stated goal

Historical Context

1 past event · Latest: Oct 01

1 event

1. Oct 01

   GPU acquisition

   24h Move

   -22.0%

   Announced NVIDIA B300 GPU acquisition and a long-term lease to build its AI infrastructure business.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

non-cancelable lease, ai inference, working-capital requirements, divestiture

4 terms

non-cancelable lease financial

"under a 32-month non-cancelable lease"

A non-cancelable lease is a rental agreement that cannot be ended early by either the lessee or the lessor without facing a significant contractual penalty or breach; the parties are legally obligated to perform for the agreed lease term. In accounting and regulatory contexts, the non-cancelable period is the fixed time used to determine lease rights and obligations and typically excludes optional renewal or termination periods unless those options are effectively unavoidable or carry a prohibitively large penalty.

ai inference technical

"supporting AI inference and other computing workloads"

AI inference is the step where a trained artificial intelligence model uses its learned patterns to analyze new data and produce an output — for example, predicting a stock trend, flagging a medical image, or generating text, much like using a recipe to cook a meal. It matters to investors because inference determines real-world performance, speed, and cost of AI features, affects user experience and scalability, and influences operating expenses, regulatory compliance, and competitive advantage.

working-capital requirements financial

"reduce operating expenses and working-capital requirements"

Working-capital requirements are the amount of short-term funds a business needs to cover the gap between cash paid out for day-to-day operations (like buying inventory and paying suppliers) and cash received from customers. Practically, they are estimated as the operating-cycle needs for inventory and receivables minus trade payables and other short-term obligations; the number changes with sales volume, payment terms and seasonality. It is not a fixed balance but a rolling financing need that the company meets with cash on hand, short-term borrowing or lines of credit.

divestiture financial

"proposed divestiture of legacy real estate operations"

Divestiture is the process of selling or getting rid of a part of a company, such as a division or asset. It often happens when a business wants to focus on its core activities or improve its finances. For investors, divestitures can signal strategic shifts or influence the company's value, affecting investment decisions.

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NVIDIA B300 GPU Leasing Operations Establish Foundation for Recurring Revenue as Company Advances Proposed Real Estate Divestiture, Expected to Reduce Legacy Operating Costs, Strengthen Balance Sheet and Support Long-Term Growth

Proposed Ocean Power Technologies Collaboration Expands Potential AI Infrastructure Applications Through Offshore, Renewable-Powered Computing

CELEBRATION, FL, Nov. 02, 2026 (GLOBE NEWSWIRE) -- Stratum Holdings Corp. (NASDAQ: SRTM) (“Stratum”) today issued a letter to shareholders from Chief Executive Officer Nicholas H. Adler outlining the Company's progress in executing its strategic transformation, including its NVIDIA B300 GPU leasing business, proposed divestiture of legacy real estate operations and development of new AI infrastructure opportunities.

Key Strategic Highlights

• AI Infrastructure Revenue: Acquired NVIDIA B300 GPUs and placed them under a long-term leasing arrangement intended to generate recurring revenue.
• Balance Sheet Optimization: Advancing the proposed divestiture of legacy real estate businesses, which is expected to remove certain liabilities and reduce operating expenses and working-capital requirements, subject to completion. The Company expects to enter into a definitive sale agreement by year-end 2026.
• Recurring Revenue Opportunity: Pursuing additional GPU leasing arrangements to expand the Company's high-performance computing asset base and potential recurring revenue.
• Strategic Expansion: Entered into a non-binding letter of intent with Ocean Power Technologies to explore offshore, renewable-powered AI computing infrastructure.
• Profitability Goal: Maintaining its goal of achieving profitability in 2027 through revenue growth, operating efficiencies and disciplined capital allocation.

Dear Fellow Shareholders,

Over the past several weeks, Stratum Holdings has taken important steps toward transforming our Company into a focused AI infrastructure business. Our strategy is centered on building a platform that provides high-performance computing capacity to support the growing demands of artificial intelligence, while simplifying our corporate structure and pursuing opportunities to expand the applications of our technology.

Our recent announcements reflect a deliberate approach to this transformation. We have acquired next-generation NVIDIA B300 GPUs and placed them under a long-term lease intended to generate recurring revenue. We have entered into a letter of intent for the proposed sale of our legacy real estate operations, which we believe will allow us to concentrate our resources on AI infrastructure. Most recently, we announced a proposed strategic collaboration with Ocean Power Technologies to explore renewable-powered offshore computing applications.

Importantly, we are now focused on advancing these initiatives toward their next stages of execution, including working toward definitive agreements for both the proposed real estate divestiture and our strategic collaboration with Ocean Power Technologies.

Establishing Our AI Infrastructure Business

On October 1, 2026, we announced the acquisition of next-generation NVIDIA B300 GPUs, representing an important initial step in building our AI infrastructure platform.

These GPUs are designed to support demanding artificial intelligence workloads, including model training and inference. By placing the acquired GPUs under a 32-month non-cancelable lease, we have established an initial asset base intended to generate recurring revenue and support the development of our GPU leasing business.

We believe this asset-backed approach provides a foundation from which to pursue additional opportunities in high-performance computing. Our strategy is to participate in the underlying infrastructure required to support AI workloads.

As we move forward, our focus will be on evaluating opportunities to expand our GPU capacity, establish additional commercial relationships and build a scalable business around the ownership and leasing of high-performance computing assets. We believe expanding our portfolio of leased GPU assets could be an important part of our long-term growth strategy, as we seek opportunities to increase recurring revenue.

Simplifying Our Business and Strengthening Our Financial Position

Building a focused AI infrastructure company also requires making strategic decisions about where we allocate capital and management resources. We believe our transformation is progressing in the right direction, with recent developments reflecting tangible steps toward simplifying our business and focusing our operations on our long-term growth strategy.

On October 19, 2026, we announced that we had entered into a non-binding letter of intent for the proposed sale of substantially all assets of our legacy real estate businesses, including brokerage, franchising, property management, mortgage, title and related operations.

If completed, the proposed transaction is expected to strengthen our financial position by removing certain liabilities, operating costs and working-capital requirements associated with these legacy businesses, including trade payables and other specified liabilities to be assumed by the proposed buyer. This would allow us to direct greater financial and management resources toward executing our AI infrastructure strategy. We believe the divestiture represents an important step toward our goal of achieving profitability in 2027.

We continue to make progress in discussions with the proposed buyer. While the transaction remains subject to the negotiation and execution of definitive documentation and other customary conditions, we are encouraged by the progress to date and believe the anticipated divestiture would represent a significant milestone in our transformation.

Expanding the Potential Applications of Our Computing Infrastructure

Beyond building our initial GPU asset base, we are exploring opportunities to deploy high-performance computing capacity in environments where traditional data center infrastructure may be impractical or costly.

Towards that end, on October 26, 2026, we announced a non-binding letter of intent with Ocean Power Technologies, Inc. (“OPT”) to explore the development of offshore, renewable-powered data center assets.

The proposed collaboration would combine OPT's PowerBuoy® platforms, which are backed by more than 60 issued patents worldwide, and associated technology with Stratum's NVIDIA B300 GPUs and integration expertise to evaluate the feasibility of supporting AI inference and other computing workloads in offshore environments.

Under the contemplated arrangement, the companies would seek to demonstrate whether computing infrastructure can operate using renewable energy generated from wave, wind and solar sources, without relying on a power connection to shore. We are working with OPT to advance the proposed collaboration toward a definitive agreement. Subject to reaching such an agreement, our next steps would focus on establishing a framework for the proposed demonstration program, including the integration of our computing assets with OPT's offshore technology and the evaluation of technical and operational requirements.

We believe this initiative illustrates the potential to extend AI computing infrastructure beyond conventional data centers. Offshore applications could create opportunities for localized data processing in maritime monitoring, offshore energy operations, scientific research and other remote environments.

The proposed demonstration program would also evaluate potential benefits associated with offshore cooling conditions, which could help address one of the significant operating requirements of conventional computing infrastructure. These potential benefits have not yet been demonstrated and would need to be validated through testing.

The collaboration reflects our interest in pursuing innovative applications for our GPU assets and establishing relationships with companies possessing complementary infrastructure and technologies.

Building a Focused Platform for Long-Term Growth

October was an important month for Stratum Holdings. We have begun putting the core elements of our strategy in place, and our focus now shifts to converting that progress into measurable financial results.

Together, these initiatives are intended to reposition Stratum Holdings as a focused AI infrastructure company with tangible computing assets, recurring revenue potential and a leaner operating structure.

Our goal is clear: to position Stratum Holdings to achieve profitability in 2027. We believe the steps we are taking today are establishing the foundation for a stronger, more financially sustainable company.

We believe there is an opportunity to participate in the rapidly evolving AI infrastructure market, and we are working to build a scalable, revenue-generating infrastructure business with the goal of creating long-term shareholder value.

We appreciate your continued confidence and support as we execute this transformation. Our commitment is to remain focused on execution, demonstrate measurable progress and deliver on the strategic and financial objectives we have established.

We believe Stratum's next chapter will be defined by the business we are building and the results we intend to deliver.

Sincerely,

Nicholas H. Adler
Chief Executive Officer
Stratum Holdings Corp.

About Stratum Holdings

Stratum Holdings Corp. (NASDAQ: SRTM) is an AI infrastructure company focused on GPU leasing and high-performance compute capacity. The company is transitioning from legacy real estate operations to provide scalable compute solutions supporting artificial intelligence workloads. For more information, visit www.stratumholdingscorp.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements, including statements regarding Stratum Holdings Corp.'s (“Stratum” or the “Company”) strategic transformation into an AI infrastructure and high-performance computing business; the anticipated performance, utilization, revenue potential and expansion of its NVIDIA B300 GPU assets and leasing operations; the Company's ability to establish additional commercial relationships and generate recurring revenue; the proposed divestiture of its legacy real estate businesses, including the negotiation and execution of definitive agreements, completion of the transaction, assumption of certain liabilities by the proposed buyer, anticipated reductions in operating expenses and working-capital requirements, and expected improvements in the Company's financial position; the proposed collaboration with Ocean Power Technologies, Inc. (“OPT”), including the negotiation of definitive agreements, development and technical feasibility of offshore, renewable-powered computing infrastructure, potential operational benefits and commercial applications; the Company's capital allocation strategy, future growth opportunities and goal of achieving profitability in 2027.

These forward-looking statements are based on management's current expectations, estimates, assumptions and beliefs and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, among others, the Company's ability to successfully execute its strategic transformation; the performance, deployment and commercial utilization of its GPU assets; the Company's dependence on a limited number of lessees for its GPU leasing revenue and the ability of such lessees to perform their obligations; customer demand, competitive conditions and access to capital; the ability to generate sufficient revenue and achieve profitability; the non-binding nature of the proposed real estate divestiture and OPT collaboration; the possibility that definitive agreements may not be executed within the anticipated timeframe, on the anticipated terms or at all, or that proposed transactions may not be completed; the failure to obtain required approvals, including any required stockholder approval; potential dilution from future equity issuances, including any shares issued in connection with the proposed OPT collaboration; the ability to fund, develop and successfully complete any contemplated demonstration program; risks associated with technology integration, technical performance, regulatory requirements and market adoption; and other factors described in the Company's filings with the U.S. Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

There can be no assurance that the proposed transactions or collaborations will be completed, that anticipated financial or operational benefits will be realized, that the Company's GPU leasing operations will generate the expected revenue, or that the Company will achieve profitability in 2027. The Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by applicable law.

Stratum Holdings Contact

Crescendo Communications, LLC
srtm@crescendo-ir.com | (212) 671-1020

FAQ

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What GPU leasing business has Stratum Holdings established?

Stratum acquired NVIDIA B300 GPUs and placed them under a 32-month non-cancelable lease intended to generate recurring revenue. The company is pursuing additional GPU leasing arrangements to expand its computing asset base and potential recurring revenue.

When does Stratum Holdings expect a definitive agreement for its real estate sale?

Stratum expects to enter into a definitive sale agreement by year-end 2026. The proposed sale covers substantially all assets of its legacy real estate businesses and remains under a non-binding letter of intent, with definitive documentation still to be negotiated and executed.

What would Stratum and Ocean Power Technologies test in their offshore computing demonstration?

The proposed demonstration would test whether offshore computing can operate on wave, wind and solar energy without a shore power connection. It would combine OPT's PowerBuoy platforms and associated technology with Stratum's NVIDIA B300 GPUs and integration expertise, and evaluate potential benefits from offshore cooling conditions.