Participants, historical roles and record limits

analysisThe debtor records distinguish legal existence, ownership and actual operations. Texas was wholly owned by Parent, headed by Siciliano and included in Parent’s consolidated tax group; its SOFA reported no operating income or preceding-year insider distributions. The General Committee was created March 13, 2025 with delegable board powers. Liquidshares Manager was Liquidshares’ managing member, with Jesus Ancheta managing that entity. Investment Management and QP were described as inactive with minimal assets and intended dissolution; Trustline had already been dissolved. ^{1 2 3}

analysisThe SOFA’s business-existence dates were March 26, 2021 for Capital, November 29, 2021 for Investment Management, January 21, 2020 for Liquidshares Manager, October 29, 2020 for QP and April 7, 2025 for Texas. They are not Parent acquisition dates. The listed PrimaryMarkets interest has no percentage or dates. ⁴

analysisThe four debtors shared a San Jose service address in July 2025; the later complaint used a Sunnyvale post-office box. Parent’s historical offices included San Jose, Pacific Grove, New York and Washington, with separate periods. Texas reported an April 2025 Houston registered-agent address, Adam Warren bookkeeping from March, and Charles River CFO work April 7–July 7. Parent’s petition was case 25-90187, jointly administered under 25-90186 before Judge Alfredo Perez. Entry 127 is an employment application, not a shareholder register. ^{2 4 5 3 6 7}

analysisRetained registry aggregates describe Delaware incorporation, California registration 3272490 from January 15, 2010, and a class-42 LINQTO trademark registered December 15, 2015. Oregon’s inactive foreign registration does not establish Delaware dissolution. EDGAR’s limited name search returned Liquidshares CIK 1841356 and Capital CIK 1878121; it does not establish universal absence of Parent filings. The 100-result Liquidshares index includes separate Forms D and amendments, including January 28, 2025 and December 30, 2024 entries; accession suffix 000499 is not an offering census. ^{8 9 10 11 12}

analysisThe retained EDGAR name search found only Liquidshares and Capital for 'LINQTO'; it does not establish that Parent never filed under another name or that no parent fundraising existed. ⁹

qualification

A retained name search is a limited discovery result, not proof of universal absence of filings.

analysisThe petition’s consolidated top-100 customer-claims list begins with Sky Ventures at $5,035,002. Deaton represented thousands of customers in financing and asset-treatment negotiations. The U.S. Trustee appointed the official committee July 18, 2025; its initial members included Sky Ventures, Charles Hejny, Mariann Dickman Raab, Ricardo Ledesma, Robert Pazdera, Melanie Huscroft, Ardi Family Trust, Consort Partners and Impact Tech. Brown Rudnick and Orrick were committee counsel and Alvarez & Marsal its financial adviser; Schwartz represented the debtors. An August 5 court hearing approved private-security sale/transfer procedures. ^{1 2 3 4}

analysisTexas authorized Sullivan & Cromwell, Jefferies, Triple P TRS and Epiq for distinct professional capacities. The wider roster also named Portage Point, ThroughCo, Katten, Force 10, Breakpoint and CRCFO. The vendor list included Plaid, Modern Treasury, Forge Trust, Forge Securities, Carta, Hiive, Zanbato, Caplight, Deloitte, RSM, Lowenstein and 5W PR. A list supplies a stated connection, not participation in every disputed transaction or common control. ^{1 5}

analysisPlaid’s $31,581.26 prepetition payment and separate $31,000.01 vendor claim describe different fields. Its identified service was KYC/AML. Modern Treasury’s $27,750 payment was for software; neither entry proves custody or movement of customer money. The interested-party banking list named JPMorgan, SVB, Uphold and TD Bank without assigning every relationship to one debtor. A later July 2026 schedule identified SVB accounts for Parent, Liquidshares and Texas, and JPMorgan accounts for Liquidshares. ^{6 1 5 7}

analysisHolder rosters separately list Matthew Le Merle, his PENSCO IRA account and the David G Huey/Carla S Hudson revocable trust dated July 27, 2021. Retirement accounts, trusts and people are distinct capacities, with no implied percentage or beneficiary appointment. Lilly D’Angelo’s current/former-officer roster entry supplies no specific office or period. ⁵

analysisThe CRO described an SEC inquiry notified in October 2024 and Capital’s FINRA examination referral to Enforcement in December. Management retained Sullivan & Cromwell in February 2025, reported deficient accreditation checks and paused customer-facing operations March 13; its March 14 announcement described the pause and inquiry coordination. An April 3 statement asserted serious prior-management securities failures and reported a March 18 layoff of 47% of full-time staff and access to over $460 million of investments. The later civil complaint’s 87-to-28 staff account, alleged February 27 account freeze and May 2025 Paul departure are different measures and dates. Rosenthal’s May 22 appointment announcement separately reported a nearly 70% recurring-expenditure reduction. These company and pleading accounts are not individual culpability findings. ^{1 2 3 4 5 6}

analysisThe committee alleged a December 2024 tender of 243,444 customer-linked Ripple shares, 151,105 purchased at $125 and an approximately 3% shortfall. It also quoted a commissioned October 2023 draft memorandum predicting securities-law and FINRA violations. Neither witness is the complete original memorandum or an adjudication. The indictment’s related tender account anonymizes its issuer and uses January 2025. Sarris said he intended to remit the tender proceeds to customers and expected substantial interest in participating; the committee disputed his account. He also argued that the quoted draft memorandum supported his view that regulatory risks were inflated or hypothetical, while the committee read its conclusions as contradicting him. ⁷

analysisSeparately, Linqto denied a July 2025 CapSign claim and said Liquidshares’ 4.7 million Ripple shares were unchanged. The denial is a company account, not a complete transfer-record verification. ⁸

analysisThe January recovery account described trust and fund choices and a wind-down vehicle. An August report described a court-approved July sale of approximately $130 million of Ripple stock to four buyers led by Galaxy, after waiver of Ripple’s first-refusal right. It called the seller the estate and destination the wind-down trust; those identities cannot be silently recast. June/July estimates of 111 issuers, over $500 million of securities, $16 million reserve inventory and over 13,000 customers differ from the amended 117-position schedule and are dated party estimates. ^{7 9 10}

analysisA company preview said the Forge dispute continued for over 13,000 customers, while a January statement cited Deaton’s roughly 4,000-customer suit and four SEC claims. The preview called Schwab a litigation target, but the retained adversary caption named Holdings and Does, not Schwab. Sarris’s January 23 reconsideration/unsealing filing and the Euritt adversary’s March 2 filing establish procedural entries, not merits. A former employee’s Deloitte/IPO explanation is an inference; the personal-loan allegation does not identify every borrower. Forge denies breach, appointment, causation and the alleged Schwab instruction; its answer says compulsory-performance and equitable demands were withdrawn, while monetary claims remained contested. The stipulation itself was not independently retained. ^{11 12 13 5}

analysisThe early profile described a January 2010 Pacific Grove software business, 12 staff and roughly $1 million trailing revenue. Its previous-investor list included Oliver Nguyen, Lee Ann Jarrell, Bonny Simi, Harry Cohen, Aydin Koc and David Huey, with several entries expressly unconfirmed. Vicki Sarris was described as cofounder/COO and earlier Home Search Information Network cofounder. Another profile’s Vicki Lawrence Sarris name suggests an alias, but its September 2008 start conflicts with the founding account and establishes no family relationship. ^{1 2}

analysisCarla Hudson’s undated CFO biography includes Bianchi, Kasavan and Pope, Monterey County Bank, professional-association and Touche Ross roles. Jared Reed’s undated chief-architect biography describes Intuit/Digital Insight, Stiq Joy Games and consultancy work. Endoso’s February 2024 announcement recounted CFO, revenue, operating and president roles since 2019. ^{1 3 4}

analysisPaul signed the August 2022 Form D as CFO; his May 15, 2020–May 2, 2025 officer tenure differs from bookkeeping ending March 2025, when Warren took over. Cathy Siciliano’s incoming COO role is documented separately from an executive-profile timestamp and educational entries. ^{5 6 7 8 9}

analysisThe regulatory histories give Woodard’s Linqto/Capital service August–December 2024 between EquityBee and Hiive roles; Francis’s employment August 2022–November 2024 differs from broker registration starting December 2022, with later StartEngine and Francis LLC work. Henderson’s employment July 2022–August 2025 differs from December 2022–January 2025 broker registration, and his Investment Management, Hard Yaka, Jefferies and Keiretsu entries have separate intervals. No events in these retained report summaries is not a universal clean-history conclusion; PDF extraction limits remain. ^{10 11 12}

analysisAdam Henderson’s 2022 Keiretsu capacities are separate career connections. Rodriguez’s January 2021 CMO announcement and earlier 360 Group/IE University career account, Krilanovich’s design résumé and June 17, 2024–February 7, 2025 SOFA tenure, and Lai’s January 2023 announcement and December 2022 start retain their own dates. LaForce’s announced revenue role has no proved departure date. These biographies and résumés establish attributed historical capacities, not indefinite present employment. ^{13 14 15 16 17}

analysisThe financial-affairs statement dates Rawdon Messenger’s growth role April 18, 2024–February 7, 2025, Nurani’s directorship March–May 2025, David Paul’s finance and administration office May 15, 2020–May 2, 2025, and Mark Perez’s investment office April 18–October 1, 2024. It also dates Slemmer’s board service October 2020–February 2025, Susan Woodard’s compliance role August 12–December 2, 2024 and Elisa Zoli Lai’s marketing role December 6, 2022–February 7, 2025. ^{6 18}

analysisExternal affiliations are connections through particular people and offices, not a single Linqto corporate group. The San Francisco Federal Home Loan Bank is a federally chartered corporation with SEC file 000-51398 and EIN 94-6000630. Alpha Compute’s BVI issuer identity, CIK 1095435, includes its former AlphaTON and Portage names; Siciliano’s February 2026 appointment used AlphaTON. Society Pass is a Nevada issuer with a Singapore address, CIK 1817511 and file 001-41037. Rosenthal’s independent-director declaration and creditors’ meeting appearance connected him to its separate Chapter 11 case, alongside two lawyers also serving Linqto. Its May bankruptcy/listing filings and April annual-report delinquency notice do not establish completed delisting or common control. Equifax’s Georgia issuer identity, CIK 33185 and file 001-06605, is relevant through the announced LawLogix transaction. ^{1 2 3 4 5 6}

analysisHard Yaka Ventures LP’s 2022 filing names its GP and Kidd’s management capacity, while the Linqto list names the LP as a current/former holder. Goldeneye is a separate Kidd-owned vehicle: its September 2025 filing reported 357,815,000 USBC shares, approximately 92.1%, and a registration-rights agreement with USBC, Cohen & Company and Fifth Era. Kidd’s role is indirect through Goldeneye. Its address match with the LP proves no merger of identities. Kidd’s Ripple, Vast Bank, Global ID and other biography roles, and Lowenstein’s buyer-counsel engagement, do not establish participation in Linqto conduct. ^{7 8 9 10 11}

analysisLe Merle’s annual-report Fifth Era/Keiretsu start dates differ from an older team page. Kutler’s FCC, Visa, Rio Tinto and Export-Import Bank roles are historical public-sector/career context. ^{12 13}

analysisRSM, formerly McGladrey, is the Chicago-based U.S. member of RSM International identified in the SEC’s 2019 order. That August 27 order concerned prohibited nonaudit services or employment relationships involving affiliates of at least 15 unrelated audit clients in 2014–2015. It censured RSM, imposed a cease-and-desist order and a $950,000 penalty, and required an independent consultant within 120 days to review independence controls. RSM consented without admitting or denying findings, except jurisdiction. Payment was required within 30 days; the retained order does not establish later payment or implementation and does not name Linqto as an affected client. The separate 2020 PCAOB inspection, issued December 16, 2021, placed seven of 15 audits in Part I.A for insufficient opinion support, mainly controls, revenue and loan-loss allowances. Linqto was not named. An earlier SEC order separately identifies Deloitte & Touche LLP as a Delaware LLP headquartered in New York and PCAOB-registered from October 22, 2003. Identifying a listed vendor does not transfer findings about unrelated clients to Linqto. ^{14 15 16 17}

analysisThe undated organizational directory expressly describes itself as unverified and mixes officers and advisers from different periods. Its Lilly D’Angelo board entry cannot establish a current board or her tenure. Dated records carry the confirmed capacities instead. ¹

analysisThree external biographies and an obituary require additional identity evidence. Virgo/Zephyrus affiliations of a Mark Perez are not attributed to Linqto’s former investment officer. The Jack Drogin obituary does not establish that Linqto’s former counsel died or held the obituary’s prior jobs. A Bill Sarris chapter-president listing does not independently confirm the founder’s identity or date that office. The 2019 Nav engineering-director profile for Travis Jeppson lacks a Linqto reference or independent identifier. These external identities remain separate, with possible matches explicitly unresolved. ^{2 3 4 5}

analysisThe August 2025 financial-affairs statements distinguish the affiliates by employer identification number: Linqto Texas, LLC, 33-4525745; Linqto Liquidshares, LLC, 84-4378976; Linqto Liquidshares Manager, LLC, 84-4388214; Linqto Capital, LLC, 87-1265380; Linqto Investment Management, LLC, 87-3783975; and Linqto QP, LLC, 85-3792375. These are filing-based identities, rather than findings about ownership, solvency or current operations. ¹

analysisFINRA identifies the current firm as SB1 Capital Markets Inc., CRD 154132 and SEC broker-dealer file 8-68611, incorporated in Delaware. Its report describes the September 2025 succession from SpareBank 1 Capital Markets Inc. without a change of ownership or control. Hard Yaka Ventures LP’s May 2022 Form D identifies it as a Delaware limited partnership formed in 2022, SEC filer CIK 0001927559. Complii FinTech Solutions Ltd’s retained interim report identifies the company as incorporated and domiciled in Australia, with ABN 71 098 238 585; its cover also uses the full suffix “Limited”. The retained SEC index names Alpha Compute Corp as CIK 0001095435 and lists former names AlphaTON Capital Corp (filings through April 20, 2026), Portage Biotech Inc. (through September 3, 2025), Bontan Corp Inc. (through August 7, 2013) and Dealcheck Com Inc. (through April 21, 2003). Sandton Capital Solutions Offshore Fund VI, LP’s March 2024 Form D identifies a Cayman Islands exempted limited partnership formed in 2024, SEC filer CIK 0002014566. ^{2 3 4 5 6}

analysisSean Bowden’s retained FINRA registration history identifies Pickwick Capital Partners, LLC with firm CRD 130672. Sean Bowden’s retained FINRA registration history identifies Symbridge Capital LLC with firm CRD 307430. Sean Bowden’s retained FINRA registration history identifies Arctic Securities LLC with firm CRD 174423. Goldeneye 1995 LLC reports Nevada as its place of organization in the September 2025 amended ownership filing. Sonder Holdings Inc. reports Delaware incorporation and employer identification number 85-2097088 in its September 2025 current report. ^{7 8 9}