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Damon Inc., a company specializing in motorcycles, bicycles, and parts, has reached a final settlement with a former financial advisor, as reported on Friday. The Vancouver-based company, previously known as Grafiti Holding Inc., entered into an amended agreement on Monday, June 9, 2025, with Mark Peikin to resolve outstanding financial advisory fees.
The original settlement, detailed in filings from November 18, 2024, and March 25, 2025, involved Damon Inc. and its subsidiary Damon Motors Inc. agreeing to pay Peikin $2.515 million. This amount included $1.515 million in cash paid on March 24, 2025, and a pending $1 million payable by May 21, 2025, in cash or company shares at Damon Inc.’s discretion.
Under the new amended settlement, Damon Inc. has agreed to pay Peikin $350,000 in cash to fully settle all claims related to the outstanding settlement obligations. The payment was made within one business day following the execution of the amended agreement. In return, Peikin has waived and released all claims against the company related to the outstanding settlement obligations.
This settlement comes after the Nasdaq Stock Market LLC decided to delist Damon Inc.’s common shares, which led to their suspension on May 20, 2025. Currently, the company’s common shares are quoted on the OTC Pink Current Market under the symbol "DMNIF."
The company’s recent actions, including this settlement, are part of its ongoing efforts to resolve financial disputes and streamline its operations. Damon Inc. continues to be identified as an emerging growth company and has not elected to use the extended transition period for complying with new or revised financial accounting standards.
This news is based on a press release statement filed with the Securities and Exchange Commission.
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