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Elauwit Connection Inc
1700 Alta Vista Drive, Suite 130
Phone: (302) 658-7581p:302 658-7581 COLUMBIA, SC  29223  United States Ticker: ELWTELWT
On February 25, 2026, the Audit Committee of the Board of Directors of Elauwit Connection, Inc., following discussion with and upon the recommendation of management, concluded that the unaudited condensed consolidated financial statements for the quarter ended September 30, 2025 should no longer be relied upon. This determination relates to accounting errors in revenue recognition for certain network design and installation contracts due to deficiencies in the application of the percentage-of-completion cost-to-cost input method, which resulted in overstated revenue, gross profit, operating income (loss), net loss, and total assets for the affected period.
Business Summary
Elauwit Connection, Inc. is a provider of broadband Internet networks for the multifamily and student housing property sector across the United States. The Company’s managed Wireless Fidelity (Wi-Fi) networks provide property-wide Internet access for residents, guests, property management staff, and third-party technology vendors at each property it serves. The Company provides its service offering wholesale to Real estate investment trusts (REITs), property ownership groups, and property management companies, engaged in its target real estate sectors, who then offer the service to their residents. In building a managed Wi-Fi network, it provides network design, project management, network engineering, network installation, and quality control. Also, as part of its service delivery model, it provides bandwidth, 24/7 network monitoring, network maintenance, and resident support.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
-Yes-Yes---

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
9/30/202512/31/2024YesYes---

Industries
SIC Code Description
4813 Telephone communications, except radiotelephone
4899 Communications services, not elsewhere classified

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Executive Chairman of the Board DanMcdonough 49 12/1/2019 12/1/2019
President, Chief Technology Officer, Director TaylorJones 47 12/1/2019 12/1/2019
Chief Executive Officer, Director Barry R.Rubens 66 12/1/2019 12/1/2019
7 additional Officers and Directors records available in full report.

General Information
Number of Employees: 20 (As of 12/31/2024)
Outstanding Shares: 6,619,796 (As of 12/10/2025)
Stock Exchange: NASD
Federal Tax Id: 843890657
Fax Number: (302) 655-5049


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Tuesday, March 24, 2026