Stark Novus Financial Inc. (NRDE) reports that its Compensation Committee approved changes to the compensation of Chief Executive Officer Alexander Matina, effective September 1, 2026. His annual base salary increases from $415,000 to $451,750.
The annual grant of restricted stock units to be awarded on or about the first trading day of 2027 and in each calendar year thereafter increases from $50,000 to $63,250 in fair market value, with the grant terms otherwise unchanged, including vesting in two substantially equal installments on the first and second anniversaries of the grant date, subject to acceleration upon a change in control and continued employment through each vesting date. A pro-rated RSU grant will be made for the balance of 2026, with vesting to commence on the first and second anniversaries of September 1, 2026. Mr. Matina will also receive a one-time cash bonus of $120,000, payable on September 1, 2026.
Stark Novus Financial Inc. (NRDE) director Alexandre Zyngier, through HZ Investments LLC, reported open-market purchases of 10,648 shares of Class A Common Stock from 2026-08-26 to 2026-08-28 at prices between $1.55 and $1.72 per share, as indirect holdings. He also reports 192,997 directly held restricted stock units and disclaims beneficial ownership of the LLC-held shares except to the extent of his pecuniary interest.
Stark Novus Financial Inc. (NRDE) had one insider-related entity, ESOPUS CREEK VALUE SERIES FUND LP - SERIES A (a director), report purchasing 9,000 shares of Common Stock at $1.83 per share on August 25, 2026. Following this open-market or private transaction, the reporting entity holds 772,000 shares directly, subject to pecuniary-interest limitations.
Stark Novus Financial Inc. (NRDE) director Alexandre Zyngier, through HZ Investments LLC, reported open-market purchases of 7,526 shares of Class A common stock between August 21 and August 25, 2026, at prices between $1.66 and $1.73 per share. Separately, he reports direct holdings of 192,997 restricted stock units. Zyngier is the managing member of HZ Investments LLC and disclaims beneficial ownership of the LLC-held shares except to the extent of his pecuniary interest.
Stark Novus Financial Inc. (NRDE) entered into an Omnibus Amendment to its existing Foxpoint-related financing documents on August 18, 2026. Stark Novus acts as a lender to several Foxpoint Florida borrower entities, with James Neumann as Guarantor and other lenders party to the agreements.
The amendment defers the Borrowers’ monthly interest payments due for June 1 through September 1, 2026 until the closing of an Orlando-area billboard and related asset sale by the Guarantor and the Borrowers. A letter of intent for this Orlando Sale must be executed by the Guarantor, with the original August 19, 2026 deadline orally extended by Stark Novus to August 25, 2026. Net proceeds of the Orlando Sale will be applied first to fully pay all amounts owed to the lenders, and the Guarantor will pledge additional billboard assets in Bridgeton, Missouri, and, upon certain events of default, in Bakersfield, California as extra collateral securing the obligations.
Stark Novus Financial Inc. (NRDE) director Alexandre Zyngier reported indirect open-market purchases of Class A Common Stock through HZ Investments LLC. Between August 18 and 20, 2026, HZ Investments LLC purchased a total of 12,305 shares at per-share prices between $1.66 and $1.73. Separately, Zyngier reports 192,997 shares held directly in the form of restricted stock units. Zyngier has voting and dispositive power over the HZ Investments LLC holdings but disclaims beneficial ownership beyond his pecuniary interest.
Stark Novus Financial Inc. (NRDE) reported a small, asset-light balance sheet for the quarter ended June 30, 2026, with $43.8 million in total assets, including $21.5 million of cash and cash equivalents and $11.6 million in loans receivable. Restricted short‑term investments tied to the bankruptcy Claims Reserve were $2.6 million after settling most creditor claims.
The quarter showed a net loss of $1.1 million and a net loss attributable to common shareholders of $1.8 million, driven in part by $0.8 million of accrued preferred dividends. Common stockholders’ equity declined to $0.4 million, while Series A preferred stock is carried as mezzanine equity at $39.9 million. Operating cash outflows were $3.5 million for the first half of 2026, and the company deployed $9.4 million into high‑yield billboard‑backed loans.
After quarter‑end, Stark Novus completed the acquisition of Affinity Advisory Network for $6.72 million in cash, 80,000 common shares, 15% of AAH equity, and an earnout of up to $1.31 million, adding an insurance and advisory platform. Management states it expects to have sufficient working capital for at least one year while it continues claims resolution, evaluates strategic alternatives, and pursues retained litigation and loan investments.
Stark Novus Financial Inc., formerly Nu Ride Inc., completed the acquisition of Affinity Advisory Network, LLC and AAN Wealth Advisors, LLC through its wholly owned subsidiary, Affinity Advisory Holdings Corp. The consideration includes a cash payment at closing of $6,720,000 (subject to customary adjustments), 80,000 shares of Class A common stock and Buyer common stock equal to 15% of the Buyer’s issued and outstanding shares immediately after closing. The sellers may also receive a contingent earnout of up to $1,312,000 plus interest, payable in up to three annual installments of approximately $437,333 each, if specified insurance-writing thresholds are met.
On July 21, 2026, the company changed its name from Nu Ride Inc. to Stark Novus Financial Inc. via a Certificate of Amendment, and updated its Third Amended and Restated Bylaws solely to reflect the name change. The Class A common stock is expected to begin trading on the OTC under the ticker symbol SNFI, with the CUSIP number remaining unchanged. Required financial statements and pro forma financial information for the acquired business will be provided in a later amendment within 71 days.
NU RIDE INC. director Paul W. Burkett filed an initial ownership report on Form 3. This filing establishes his status as a director of the company but does not list any specific share holdings or recent transactions. It is an administrative disclosure of insider status rather than a trading event.
Nu Ride Inc. reported changes to its board of directors. On June 30, 2026, the board elected Paul W. Burkett as a Class II director, effective July 1, 2026, and he will stand for election at the 2026 Annual Meeting of Stockholders.
Burkett was also appointed to the Audit Committee, Corporate Governance and Nominating Committee, and Transaction Committee, and the board determined he qualifies as an independent director under NASDAQ listing standards. He will receive compensation under the company’s standard non-employee director arrangements.
The company also disclosed that Michael J. Wartell resigned from the board effective June 30, 2026, and stated there were no disagreements with the company related to its operations, policies, or practices leading to his resignation.