Sow Good Inc. has transitioned from a vertically integrated manufacturer to a capital-light, brand-focused company, earning commissions from a related-party distributor. The company sold substantially all manufacturing assets, including six proprietary freeze-drying machines, to Trea Grove, LLC (a related party owned by the Goldfarbs) for $1.5 million on December 30, 2025. An exclusive Distribution Agreement with Trea Grove, LLC grants Sow Good 10% of gross receipts from customer sales, effective through July 31, 2026. Sow Good incurred a net loss from continuing operations of $6.8 million for the year ended December 31, 2025, and a net loss from discontinued operations of $33.8 million, totaling a net loss of $40.6 million. The company reported a working capital deficit of $2.8 million and cash and cash equivalents of $1.5 million as of December 31, 2025, raising substantial doubt about its ability to continue as a going concern. A private placement of Series AA Convertible Non-Redeemable Preferred Stock raised $3.0 million, with an additional $3.0 million expected from Series AAA Convertible Redeemable Preferred Stock in March 2026, pending stockholder approvals. Leadership changes include David Lazar appointed CEO and Chairman, Claudia Goldfarb transitioning to COO, and the resignation of two board members. The freeze-dried candy category experienced a significant decline in sales towards the end of 2025, impacting the company's previous business model.