Joel Drake Stone Reports 12.2% Stake in CalEthos, Inc. Following Appointment as CEO

On April 16, 2026, Joel Drake Stone filed a Schedule 13D reporting a 12.2% beneficial ownership stake in CalEthos, Inc. (GEDC), representing 3,750,000 shares of common stock. This position consists entirely of vested stock options granted to Mr. Stone in connection with his service as an executive officer. Specifically, the holdings include options granted on June 19, 2023 (1.25 million shares), June 20, 2023 (1.25 million shares), December 6, 2023 (1 million shares), and a recent grant on March 27, 2026 (2 million shares). The filing coincides with Mr. Stone's appointment as Chairman of the Board and Chief Executive Officer, as formalized in an Executive Employment Agreement dated March 27, 2026. Under this agreement, Stone receives a base salary of $300,000 per annum and was granted the "March Options" for 2,000,000 shares at an exercise price of $0.49 per share. The reporting person's acquisition of these securities is related to his executive compensation and long-term incentive structure within the company. Mr. Stone maintains sole voting and dispositive power over the reported 3,750,000 shares.