Netcapital records $17.9M total impairment on multiple equity investments

Netcapital Inc.

Impairments on 11 investments include StockText, CupCrew, CountSharp, HeadFarm, RealWorld, AceHedge, Dark, Fantize, Caesar Media, ChipBrain, Deuce Drone.
Largest single impairment: ChipBrain LLC $3.37M due to AI replication of software; Deuce Drone $2.35M (inactive); Caesar Media $2.0M (failure to file).
Most impairments attributed to key personnel resignations after adverse regulatory changes; companies returning investor funds.
Company does not expect to recover any value from these investments.
Additional impairments may be recorded for other investment securities under evaluation.

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