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• LinkedIn for diverse professionals
• Indeed.com for diversity hiring

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• Online Professional Networking Platforms: Professional Diversity Network operates online communities that enable diverse professionals to connect, share resources, and advance their careers.
• Diversity Recruitment Solutions: The company provides employers with platforms and tools to find, attract, and hire diverse candidates through job postings, resume databases, and specialized recruitment services.
• Professional Membership Services: Through brands like the National Association of Professional Women, IPDN offers exclusive networking events, career development resources, and member benefits to specific professional groups.

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Professional Diversity Network (IPDN) primarily sells its services to other companies.

According to its Annual Report on Form 10-K for the fiscal year ended December 31, 2022, no single customer accounted for more than 10% of the company's revenues for the years ended December 31, 2022, and 2021. This indicates that Professional Diversity Network has a highly diversified customer base and does not rely on a few major customers.

Due to the diversified nature of its customer base and the absence of any individually material customers (as defined by SEC reporting thresholds), Professional Diversity Network does not publicly disclose specific names of its major customer companies.

However, based on its business model, Professional Diversity Network serves a wide range of organizations seeking to recruit and retain diverse talent and to enhance their diversity and inclusion initiatives. Its customers typically include:

• Companies across various industries, ranging from small businesses to large corporations (including Fortune 500 companies), that are looking to fill job openings with diverse candidates.
• Government agencies at federal, state, and local levels that utilize diversity recruitment platforms and services.
• Non-profit organizations and educational institutions committed to fostering diversity and inclusion within their workforce.

These customers engage with IPDN for services such as recruitment advertising, diversity and inclusion consulting, and training solutions.

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Xun Wu, Chief Executive Officer

Mr. Wu was appointed Chief Executive Officer, effective July 22, 2025. He brings extensive experience in management and editorial leadership, having served as the Chief Editor at Wenzhou News Media Center since 2011, where he established work objectives, managed a team of reporters, and oversaw news releases. Before this, he was an Editor at the same organization from 1995 to 2011, responsible for daily news content and layout design. Mr. Wu began his career as a Typesetting & Printing Technician at Wenzhou Daily Printing Factory. He holds a Bachelor's Degree in Chinese Language and Literature from Wenzhou Normal University and received advanced professional training in electronic publishing systems from Peking University.

Lisa Fan, Interim Chief Financial Officer

Ms. Fan was appointed Interim Chief Financial Officer effective June 6, 2025. She brings over 15 years of experience in corporate finance, internal auditing, and IPO readiness. Prior to joining Professional Diversity Network, she worked at Baizan Consulting in Shanghai as a financial consultant and audit specialist since May 2022. Her experience also includes serving as the Director of Internal Audit at Souche Group from July 2019 to April 2022, where she built internal control systems and managed financial operations for dual listings in the U.S. and Hong Kong. Ms. Fan holds a Bachelor's degree in Accounting from the Zhejiang Institute of Finance and Economics and is a Certified Public Accountant in China.

Chad Hoersten, Chief Technology Officer and Secretary

Chad Hoersten serves as the Chief Technology Officer at Professional Diversity Network. He has over fifteen years of technology experience and more than a decade of experience leading international teams of developers, having led the development of Professional Diversity Network's network of websites. He has been with the company since 2004, and before that, he was a senior software engineer at Rockwell Automation. He holds a Bachelor of Science in Computer Engineering from the University of Cincinnati.

Russell Esquivel, Chief Revenue Officer

Russell Esquivel was appointed Chief Revenue Officer, effective May 20, 2024. He previously served as the Senior Vice President for Professional Diversity Network's recruitment business, where he achieved one of the highest sales records in the company's history. With over 20 years of sales experience, he has a deep understanding of sales methodologies and executive-level client engagement. Prior to Professional Diversity Network, Mr. Esquivel worked for Apollo Education Group, where he held various roles including Vice President of Career Services, Vice President of Diversity Partnerships, and National Director of Latino Affairs Office. He was responsible for launching Apollo Education Group's first centralized Career Services initiative and External Affairs Diversity Partnership Office. He has also served on several nonprofit Boards of Directors.

Megan Bozzuto, President of the International Association of Women (IAW)

Megan Bozzuto is the President of the International Association of Women (IAW), a subsidiary of Professional Diversity Network. She leads programs and initiatives that support the advancement of professional women. Ms. Bozzuto has over 20 years of experience in marketing, branding, and community development. She previously served as Chief Marketing Officer and Interim CFO at Professional Diversity Network. Megan holds a B.S. in Accounting Information Systems from Bentley University.

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Key Risks to Professional Diversity Network (IPDN)

Professional Diversity Network (IPDN) faces several significant risks that could impact its business and financial health. The most prominent risks include potential delisting from Nasdaq, a history of recurring operating losses and negative cash flow, and intense competition within the online professional networking market, hindering sustainable revenue growth and profitability.

1. Nasdaq Delisting Risk: Professional Diversity Network has received notifications from Nasdaq regarding non-compliance with its listing rules. These issues primarily relate to the minimum bid price requirement and the minimum stockholders' equity, which could lead to the delisting of its common stock. Such a delisting would severely impact the company's ability to raise capital and its public visibility.
2. History of Operating Losses and Negative Cash Flow: The company has a consistent history of incurring net losses and experiencing negative cash flow from operations. This ongoing financial struggle is compounded by short-term obligations exceeding liquid assets and a concerning cash burn rate, raising significant questions about its long-term financial stability and liquidity.
3. Intense Competition and Challenges in Achieving Profitability: Professional Diversity Network operates in a highly competitive landscape for online professional networks. Despite efforts to expand its market presence, the company has faced difficulties in meeting revenue expectations and achieving consistent profitability. High operational costs and a challenging market environment continue to pressure its ability to generate sustainable earnings.

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The clear emerging threat for Professional Diversity Network (IPDN) is the rapid development and adoption of artificial intelligence (AI) and machine learning (ML) powered unbiased recruitment platforms. These emerging technologies are designed to identify and mitigate human biases in the hiring process, from candidate sourcing and resume screening to interviewing and selection. Companies and startups in the HR tech space are increasingly offering solutions that leverage AI to match candidates to roles based on skills and qualifications, often with built-in mechanisms to promote fairness and diversity inherently within their algorithms rather than relying on self-identified diversity networks or specific diversity-focused job boards.

If these AI/ML platforms become widely effective and adopted, they could diminish the unique value proposition of specialized diversity networks like IPDN. Employers seeking diverse talent might increasingly turn to AI-driven solutions that promise a data-driven, objective, and efficient approach to diversity, potentially bypassing traditional diversity-specific job boards and professional networks.

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Share Issuance

• In September 2025, Professional Diversity Network entered an agreement with Streeterville Capital, LLC to issue and sell up to $20 million of common stock over two years. An initial pre-paid purchase included $3,397,725 in cash proceeds and $2,275 for 227,500 pre-delivery shares at closing, with an additional $4,602,275 expected to be funded.
• In March 2023, the company issued 333,181 shares of common stock to Ms. Yiran Gu for approximately $2.10 per share, generating aggregate gross proceeds of $700,000.
• Professional Diversity Network executed two reverse stock splits: a 2-for-1 reverse stock split effective January 5, 2023, and a one-for-ten (1-10) reverse stock split effective March 13, 2025.

Inbound Investments

• Professional Diversity Network attracted approximately $1.8 million from a new investor, Aurous Vertex Limited, during the first quarter of 2025.
• On September 5, 2025, the company entered into a securities purchase agreement with Streeterville Capital, LLC, which allows for the issuance and sale of up to $20 million of its common stock, with an initial cash proceed of $3,397,725 received at closing.

Outbound Investments

• As of January 27, 2025, IPDN invested $1.3 million in AI Geometric Ltd., securing a 13% equity stake to enhance its AI-driven recruitment capabilities.
• In 2024, the company purchased a 6% right of profit participation in QBSG Limited through a Profit Participation Agreement with Koala Malta Limited, increasing its total financial interest in QBSG to 15% (including a prior 9% equity acquisition in September 2022).
• In 2023, Professional Diversity Network increased its stake in RemoteMore to 72.62% through additional purchases, including a 7% interest for approximately $235,000 in May 2023. The company also acquired the assets and operations of Expo Experts, LLC, in 2023.