Stark Novus Financial Inc. (SNFI) filed a Certificate of Correction on October 20, 2026, declaring its previously filed Charter Amendment null and void ab initio. The amendment had been filed after the 2025 annual meeting but did not receive the required vote: approximately 91% of votes cast favored it, while approval required at least a majority of outstanding stock entitled to vote.
The Certificate of Incorporation therefore remains unchanged and in effect. Its NOL Protective Provisions apply to all transactions involving a person or group that directly or indirectly beneficially owns, or would as a result of a transaction beneficially own, 4.5% or more of all issued and outstanding capital stock. The provisions expire on the date of the company's annual meeting to be held during calendar year 2027.
Stark Novus Financial Inc. (SNFI) reported that its wholly owned subsidiary, Affinity Advisory Holdings Corp., completed its acquisition of Affinity on July 15, 2026. Consideration included a $6.72 million cash payment at closing, 80,000 shares of SNFI Class A common stock and Affinity Advisory Holdings shares equal to 15% of that subsidiary’s issued and outstanding shares immediately after closing. Sellers are eligible for an earnout of up to $1.312 million, plus accrued interest, in up to three annual installments of approximately $437,000, subject to insurance-writing thresholds.
Affinity reported combined revenue of $3.91 million and net income of $1.006 million for 2025, and revenue of $1.714 million and net income of $483,000 for the six months ended June 30, 2026. Pro forma statements show SNFI net loss attributable to common shareholders of $2.378 million for the six months ended June 30, 2026 and $2.819 million for the year ended December 31, 2025, assuming the acquisition occurred January 1, 2025. Purchase price allocation estimates are preliminary, and final amounts may differ significantly.
Stark Novus Financial Inc. (SNFI) has called its 2026 Annual Meeting of Stockholders for November 9, 2026 at 12:00 p.m. New York City time, to be held as a fully virtual audio webcast. Stockholders of record at the close of business on September 15, 2026 may attend and vote.
Stockholders will vote on two proposals: (1) electing two Class II directors, Paul W. Burkett and Alexandre Zyngier, each for a three-year term, and (2) ratifying BDO USA, P.C. as independent registered public accounting firm for the year ending December 31, 2026. The Board recommends voting “FOR” both proposals.
As of the record date there were 16,369,293 Class A common shares outstanding and Preferred Stock convertible into 1,398,295 Class A shares, for an aggregate of 17,767,588 votes, subject to an Ownership Limitation. The proxy also details director and executive pay, including a $451,750 base salary for CEO Alexander Matina effective September 1, 2026, director cash and RSU compensation, governance policies, board committee structures and ongoing post-bankruptcy priorities, including preserving net operating losses, litigation matters and disciplined capital deployment.