The Dyson of sustainable cleaning solutions.

A Keurig for eco-friendly commercial cleaning solutions.

The Beyond Meat for commercial cleaning chemicals.

• Aqueous Ozone Cleaning Systems (SAO®): Devices that generate stabilized aqueous ozone from tap water for cleaning and many sanitizing applications.
• SAO® Cartridges: Proprietary cartridges required for the SAO® cleaning systems to function effectively.
• Related Accessories and Parts: Components like spray bottles and replacement parts designed to complement and maintain their cleaning systems.

CleanCore Solutions (ZONE) Major Customers

CleanCore Solutions (symbol: ZONE), which primarily sells alkaline water and related products, operates on a business-to-business (B2B) model. Its primary customers are retail companies that then sell the products to individual consumers.

While the company's annual report (Form 10-K) for the fiscal year ended March 31, 2023, indicates that two customers accounted for approximately 18% and 13% of its net sales respectively, the specific names of these customers are not publicly disclosed in the filing.

However, CleanCore Solutions widely distributes its products through major national and regional retail chains across various categories. The following are prominent public companies that serve as major retail customers and distribution partners for CleanCore Solutions' products:

• Walmart Inc. (Symbol: WMT)
• The Kroger Co. (Symbol: KR)
• CVS Health Corporation (Symbol: CVS)
• Target Corporation (Symbol: TGT)

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Clayton Adams, Chief Executive Officer

Clayton Adams is an accomplished entrepreneur with extensive experience in hypergrowth technology and recurring revenue business models. He has a successful track record of helping companies maximize valuations and streamline operations. Mr. Adams previously served as President and a member of the board of directors of CleanCore since September 2022. Since January 2020, Mr. Adams has served as Principal at Bird Dog Capital LLC, where he leads various investments. Mr. Adams gained experience developing the growth of small companies as Chief Executive Officer of Carson Enterprises, Inc. from March 2009 to February 2019, expanding and successfully selling the company in February 2019.

David Enholm, Chief Financial Officer

Mr. Enholm has served as Chief Financial Officer since March 2023. He is a senior executive with over 35 years of experience in finance, including budgeting, forecasting, treasury and cash flow operations, revenue development, acquisitions and dispositions, and company restructuring. Mr. Enholm most recently worked with Monroe Capital, a private equity firm, as Chief Financial Officer for two companies owned by Monroe. From March 2020 to September 2022, he served as CFO at Nelbud Services, where he led two acquisitions. From October 2018 to August 2021, Mr. Enholm was CFO at Complete Nutrition, where he developed a restructuring plan to transition the company to an e-commerce retailer. Both Nelbud Services and Complete Nutrition were wholly owned by Monroe Capital.

Travis Buchanan, President

Travis Buchanan was appointed President on January 6, 2025. He is an experienced executive with a strong background in acquisitions, scaling businesses, technology design and deployment, and manufacturing operations. Throughout his career, he has worked with diverse organizations, including startups, small businesses, and publicly traded companies. Most recently, Mr. Buchanan served as Chief Operating Officer at Poplar Homes, where he established the company's M&A function and helped grow the portfolio over 10x.

Gary Hollst, Chief Revenue Officer

Mr. Hollst has served as Executive Vice President since April 2019. He has an extensive background in the janitorial, sanitation, and refrigeration industry. Since 2015, Mr. Hollst has also served as the President of O-Z tech, an ice machine and laundry cleaning company based out of Omaha, Nebraska, that specializes in the usage of aqueous ozone water.

Marco Margiotta, Chief Investment Officer

The increasing adoption and technological advancements of Electro-Chemically Activated Water (ECAW) systems pose a clear emerging threat. ECAW technology generates powerful cleaning and disinfecting solutions on-site from water and salt, producing hypochlorous acid (HOCl) and sodium hydroxide. This directly competes with CleanCore Solutions' Stabilized Aqueous Ozone (SAO) technology by offering a similar value proposition: on-demand, chemical-free, and sustainable cleaning and disinfecting solutions. As ECAW systems continue to improve in efficiency, cost-effectiveness, and market presence, they represent a significant alternative for customers seeking environmentally friendly cleaning and sanitization alternatives to traditional chemicals, directly challenging CleanCore's core offering.

CleanCore Solutions (symbol: ZONE) targets several large addressable markets with its patented aqueous ozone cleaning technology, which offers a chemical-free alternative for various cleaning and disinfection practices.

The company's main products and services are geared towards:

• Global Service Cleaning Market: This market is projected to reach $92.69 billion globally by 2027, demonstrating a compound annual growth rate (CAGR) of 7.80%.
• U.S. Food and Beverage Cleaning Market: This specific segment within the U.S. is expected to reach $2.4 billion by 2026, with a 7% CAGR.
• U.S. Federal Purchasing Platform: CleanCore Solutions has been awarded a General Services Administration (GSA) Multiple Award Schedule (MAS) contract, providing access to a $46 billion federal purchasing platform in the U.S.. This contract streamlines access for federal, state, and local government buyers.

CleanCore Solutions also broadly targets the global household cleaning market, the global commercial and residential laundry market, and the global healthcare market, indicating a wide range of potential applications for their aqueous ozone solutions.

1. European Expansion through Sanzonate Acquisition: CleanCore Solutions completed the acquisition of Sanzonate Europe Ltd. in April 2025. This acquisition is expected to significantly strengthen CleanCore's presence in Europe, enhance its financial foundation, and provide access to a multi-million-dollar sales pipeline, thereby contributing to near-term revenue growth and advancing international expansion.

2. GSA Multiple Award Schedule Contract: In April 2024, CleanCore was awarded a General Services Administration (GSA) Multiple Award Schedule (MAS) contract. This positions the company as the exclusive provider of aqueous ozone cleaning products under the GSA program. This five-year contract, with options to extend up to 20 years, grants CleanCore access to a substantial $46 billion federal purchasing platform, significantly expanding its addressable market and establishing a new, sustainable growth channel.

3. Expanding Customer Base and Demand: CleanCore anticipates accelerated adoption of its patented aqueous ozone cleaning systems due to expanding demand from both new and existing customers. Recent achievements include securing a $1.37 million purchase order from a major U.S. customer, with portions carried forward into Q1 2026, and a multi-facility contract with a major logistics provider covering over 1,000 locations. The company has also secured contracts and deployments in the education and aviation sectors, including a major international airport in New York.

4. Shift to Direct Sales Recurring Revenue Model: The company has strategically transitioned to a direct sales recurring revenue model and expanded its customer pilot programs. While this shift initially led to a temporary dip in revenue and an increase in expenses in the short term, it is projected to result in sustainable and predictable revenue growth in the coming quarters.

5. Growing Demand for Green and Sustainable Cleaning Solutions: A fundamental driver for CleanCore Solutions is the increasing market demand for green cleaning and eco-friendly products. The company's patented aqueous ozone technology offers a safe, low-cost, and environmentally responsible alternative to traditional cleaning chemicals. The global cleaning services market is projected to reach $92.7 billion by 2027, indicating a substantial market opportunity for CleanCore's solutions.

Share Repurchases

• As of November 10, 2025, CleanCore Solutions' CEO stated the company may consider a share repurchase program if the stock continues to trade at current levels, but no program has been approved or implemented.

Share Issuance

• CleanCore Solutions completed an Initial Public Offering (IPO) on April 30, 2024, issuing 1,250,000 shares of common stock at $4.00 per share, resulting in gross proceeds of $5,000,000. The net proceeds of approximately $3,760,000 were allocated for debt repayment, research and development, intellectual property, working capital, and general corporate purposes.
• On September 5, 2025, the company closed a private investment in public equity (PIPE) financing, generating approximately $175,000,420 in gross proceeds through the sale of 175,000,420 Pre-Funded Warrants. The net proceeds of roughly $123,687,255 were primarily used to acquire Dogecoin for its treasury, with smaller amounts for debt repayment and working capital.
• In August 2025, CleanCore strengthened its capital structure by converting over $600,000 of debt into equity and receiving over $400,000 from warrant conversions.

Inbound Investments

• CleanCore Solutions completed a $175 million private placement (PIPE) on September 5, 2025, with institutional and crypto-native investors, including MOZAYYX, Pantera, GSR, FalconX, and Borderless. This investment was primarily aimed at establishing an official Dogecoin Treasury.

Outbound Investments

• On April 17, 2025, CleanCore Solutions acquired Sanzonate Europe Ltd., Europe's largest distributor of aqueous ozone cleaning technologies. The acquisition was structured with a cash payment of $600,000, a $625,000 seller-financed promissory note, and potential earnout payments up to $1,250,000 over five years, thereby minimizing upfront costs and avoiding equity dilution.
• CleanCore has been actively accumulating Dogecoin (DOGE) for its Official Dogecoin Treasury, surpassing 500 million DOGE by September 11, 2025, with a short-term target of 1 billion DOGE and a long-term goal to secure up to 5% of Dogecoin's circulating supply. These acquisitions were largely funded by the $175 million PIPE.

Capital Expenditures

• CleanCore Solutions reported capital expenditures of approximately -$32,389 in the 12 months leading up to August 2025.
• Proceeds from the 2024 IPO were intended, in part, for research and development and intellectual property, which can be associated with capital expenditures.