ChronoScale Holdings Corporation (NASDAQ: CHRN) reported the completion of the sale of its Ekso Bionics business unit on September 30, 2026. The company also disclosed the details of a severance agreement with Jason C. Jones, the former Chief Operating Officer of Ekso, and announced new agreements regarding its AI infrastructure operations.
On September 30, 2026, the Company terminated Jason C. Jones from his position as Chief Operating Officer of Ekso, an indirect wholly-owned subsidiary. In connection with his separation, Mr. Jones entered into a Severance and Release Agreement. Under this agreement, he is entitled to a lump-sum cash payment of $243,750, representing nine months of his base salary, less applicable withholdings. Additionally, the Company will pay for or reimburse premiums for COBRA continuation coverage for Mr. Jones and his eligible dependents for up to nine months following the separation date. These benefits are contingent upon Mr. Jones signing a general release of claims and complying with the agreement's terms.
In other business developments, the Company filed a Withdrawal of Designation with the Secretary of State of Nevada on September 29, 2026. This action terminated the designation of 5,852 shares of Series B Convertible Preferred Stock, which were not outstanding at the time of filing.
Separately, on October 1, 2026, the Company issued a press release announcing the sale of the Ekso Bionics business unit and the expansion of an agreement with an existing AI infrastructure customer. ChronoScale also signed an agreement with a new AI infrastructure customer. The Company stated that these new contracts, combined with existing agreements, provide for an annualized run-rate revenue of $1 billion by calendar Q3 2027. The Company noted that the achievement of this contracted revenue is subject to risks and uncertainties, including the successful deployment of infrastructure capacity and the availability of power and equipment.
