SHF Holdings, Inc. is a financial technology and services company focused on providing lending and account management services to cannabis businesses, leveraging strategic partnerships and a diverse revenue model.

# Company Overview: SHF Holdings, Inc.

**Type of Company:**  
A financial technology and services company, with a focus on lending, account management, and financial services related to the cannabis industry.

**Headquarters:**  
Golden, Colorado

**Stock Information:**  
- Class A Common Stock (Symbol: SHFS, $0.0001 par value) listed on Nasdaq Stock Market LLC  
- Warrants (Symbol: SHFSW) exercisable at $230 per share

**Key Details from 2024 Annual Report (Form 10-K/A):**  

### Business Operations:
- The company engaged in financial services primarily revolving around cannabis-related business loans and account management.
- The company has a strategic partnership with Partner Colorado Credit Union (PCCU), which involved a Commercial Alliance Agreement (CAA) for managing loans, lending services, and deposit accounts for cannabis-related businesses (CRBs).
- The company's revenue streams include loan origination fees, interest income, participation fees, servicing fees, investment income from deposits, account activity fees, and related cannabis income.
- The company adopted the Federal Reserve’s interest rates to calculate income from deposits, leading to a recognized incremental revenue of $549,000 in Q4 2023.

### Customer Base:
- The document does not specify the exact number of customers served.
- It mentions loans and deposit relationships with cannabis businesses, but no specific customer count or segmentation is provided.

### Employees:
- The company currently has a small executive team with key executives including:
  - Chief Executive Officer: Terrance Mendez
  - Chief Financial Officer: James Dennedy
  - Chief Legal Officer: Donnie Emmi
  - Former Chief Executive Officer: Sundie Seefried (resigned February 2025)
- The number of total employees is not specified.

### Ownership & Shareholder Information:
- As of April 30, 2025:
  - Outstanding Class A common shares: **2,784,458**
  - Major shareholders include Partner Colorado Credit Union (38.80% beneficial ownership), Ms. Jennifer Meyers (39.23%), and other directors and officers holding smaller stakes.
- The company has a reverse stock split (1-for-20) that was filed on March 4, 2025.

### Financial Highlights:
- **Revenue**: The report emphasizes interest income, fees, and investment earnings but does not provide total revenue figures.
- **Net Income / Profit**: No specific income or profitability figures are provided in the excerpt.
- **Market Value**:
  - The company's market capitalization was approximately **$29.71 million** based on stock price as of June 30, 2024.
- **Liquidity & Revenue Updates**:
  - Incremental revenue from deposit interest was $549,000 in Q4 2023, following a strategic shift in interest application.

### Corporate Governance:
- The company has a board of directors with members from finance, legal, and business development backgrounds, including independent members.
- Management and board members hold a significant portion of stock, including directors affiliated with major stakeholders.

---

**Note:**  
The document is primarily focused on corporate governance, executive compensation, stock holdings, and contractual relationships, with limited specific financial metrics like total revenue, profit, or customer counts. The core business revolves around financial services related to the cannabis industry, including loan management and deposit services, with strategic partnerships and specific revenue streams related to these activities.

SHF Holdings, Inc. provides financial and compliance services to the cannabis industry across 41 states in the U.S., focusing on compliance consulting, deposit services, and loan services.

# Company Overview

## Business Activities
The Company, SHF Holdings, Inc., provides a comprehensive suite of financial and compliance services to participants in the cannabis industry across 41 states in the U.S. Key offerings include:

- **Regulatory Compliance Consulting**: Provides consulting and software services for regulatory compliance, particularly regarding "Know Your Customer" (KYC) and the Bank Secrecy Act (BSA).
  
- **Deposit Services**: Manages the onboarding, verification, and servicing of cannabis-related deposit businesses through its proprietary financial services platform in partnership with financial institutions like Partner Colorado Credit Union (PCCU).

- **Loan Services**: Engages in sourcing, underwriting, servicing, and administering loans for cannabis businesses and related entities.

## Financial Services Platform
The Company has developed a fully compliant financial services platform that allows cannabis-related businesses (CRBs) to access traditional financial services. Key features include:

- **Automated Onboarding and Monitoring**: Streamlined processes to help financial institutions onboard CRBs and monitor compliance efficiently.

- **Traditional Banking Services**: Offers access to services such as wires, debit transactions, ACH, remote deposit capture, business checking/savings accounts, and cash management.

## Financial Metrics
- **Deposits Processed**: The Company has facilitated over **$21.5 billion** in deposit activity since its inception, with approximately **$4.2 billion** in deposits processed in 2023 alone.
- **Customer Base**: Serves over **720 active accounts** in the cannabis industry, representing a diverse clientele across multiple states.
- **Revenue Model**: Generates income primarily through monthly deposit and activity fees, which historically have accounted for the majority of revenues.

## Employees
As of December 31, 2023, the Company had:
- **45 Employees** (43 full-time and 2 part-time), with a commitment to fostering a diverse workforce, comprising over 45% female employees.

## Recent Financial Developments
- The Company has recently restructured its financial obligations and entered into new agreements with PCCU to bolster its capital strategy.
- A **commercial lending program** was launched in 2020, focusing on senior-secured loans to cannabis businesses, with plans to expand this service offering to increase revenue.

## Future Growth Strategy
The Company aims to expand its offerings and customer base through:
- Increasing deposit onboarding and lending activities.
- Enhancing its fintech platform to provide more extensive services to its financial institution partners.
- Capitalizing on the regulatory landscape to establish itself as a leading provider of financial services in the cannabis industry.

Overall, the Company’s goal is to position itself as the leading financial services provider for the legal cannabis industry, offering a secure and compliant approach to finance for a sector that has historically struggled to access banking services.

SHF Holdings, Inc.

10-K / April 30, 2025

10-K / April 1, 2024

10-K / April 30, 2025

Company Overview: SHF Holdings, Inc.

Business Operations:

Customer Base:

Employees:

Ownership & Shareholder Information:

Financial Highlights:

Corporate Governance: