Angel Studios appoints Tanner LLC as auditor after BDO's going-concern qualification

Angel Studios, Inc.

Tanner LLC appointed as independent auditor effective Sept 15, 2025, replacing BDO USA.
BDO's prior reports included an explanatory paragraph citing substantial doubt about Southport's ability to continue as a going concern.
BDO identified material weaknesses in cash flow presentation, excise tax recognition, and accrued liabilities; weaknesses persist as of June 30, 2025.
No disagreements between BDO and Southport on accounting principles; BDO agreed with statements via letter.

item 4.01item 9.01

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