SHOREPOWER TECHNOLOGIES INC.: A Complete Business Transformation

Event Description (what happened)

SHOREPOWER TECHNOLOGIES INC. has fundamentally transformed its business. They've completely abandoned their electric vehicle (EV) charging operations to merge with Aeternum Health LLC, a health and longevity company, in what's called a "reverse merger." This means Shorepower is exiting its EV charging station business entirely. The company will now focus exclusively on developing services, products, and solutions to "increase longevity and achieve optimal health." Essentially, Shorepower, the former EV company, has become a brand new health-focused entity, with Aeternum Health now occupying its public stock listing.

Shorepower's leadership decided to pivot its business strategy, moving away from the challenging EV charging market. Aeternum Health, a company formed recently in October 2025 specifically for this purpose, wanted to become publicly traded quickly by merging with Shorepower. This type of transaction, often called a "reverse merger," allows a private company like Aeternum Health to become public without going through a traditional, often lengthy and expensive, Initial Public Offering (IPO) process.

The new company is now focused on the growing field of health, longevity, and anti-aging. Aeternum Health's core asset is a "novel peptide mix" currently in early research and development, intended for health and longevity applications. Aeternum Health also brings a minimum of $1.5 million in cash and valuable intellectual property and data related to its scientific work. This cash injection will help fund the new venture's initial stages.

Event Date/Timeline

This major shift was announced on February 17, 2026, when Shorepower finalized its merger agreement with Aeternum Health. Aeternum Health LLC was formed in October 2025. Management expects to file detailed financial statements for Aeternum Health by late April 2026, within 71 days of the announcement.

Impact Assessment (who/what is affected)

This event represents a complete overhaul of the company, fundamentally changing its nature and future prospects.

• New Business, New Risks & Opportunities: Investors are no longer investing in an EV charging company, but in a new health and longevity venture. This shift introduces new market dynamics, demands significant research and development, requires navigating complex regulatory approvals (such as from the FDA), and places the company in a highly competitive biotechnology sector. While potential rewards in this field can be high, the risks, including clinical trial failures and long development timelines, are substantial.
• New Leadership & Control: Top management is changing. Jeff Kim, the former CEO, departs, and Paul Mann, Aeternum Health's manager, assumes the roles of President, CEO, and sole board member. Paul Mann's extensive experience in healthcare and biotechnology is crucial for leading this new direction. He will hold 51% ownership of Shorepower and 2,000,000 shares of Series B preferred stock. Each preferred share carries the voting power of 40 common shares, granting him clear control over the company's future.
• New Name & Identity with Potential Dilution: The company will soon be called "Aeternum Health" and will seek a new stock ticker symbol from FINRA. To support its new business plan and potential future capital raises, the company is increasing the number of authorized shares from 100 million to 250 million. This significant increase raises the potential for future stock offerings, which could dilute existing shareholders' ownership percentages.
• Old Business Spun Out: The EV charging assets will be separated from the public company. This means the "MegaCharge" project and its software issues no longer fall under Shorepower's purview. The company has not yet fully clarified how it will divest or spin off these assets, nor what potential value, if any, will return to shareholders. Investors should monitor these developments.

Who is affected?

• Investors/Shareholders: Investors and shareholders are the most significantly affected group. Shares previously representing an EV company now represent an early-stage health and longevity company. This fundamentally changes the investment thesis. Share value will now depend entirely on the new health venture's success, scientific progress, and ability to navigate regulatory hurdles.
• Employees of the Old Shorepower: Those working on EV charging will likely transfer with the divested assets or face job changes as the company pivots.
• Paul Mann and Aeternum Health: They now control a public company, providing a platform for their health business. The merger terms effectively position Aeternum Health and its assets (including the peptide mix and cash) as the dominant entity in the new combined company.
• Jeff Kim: He is stepping down as President, CEO, and director, and will cancel 13,000,000 of his Shorepower common shares in stages. While substantial, this cancellation must be viewed alongside the new shares issued to Paul Mann and the increased authorized shares to understand the net impact on total outstanding shares and overall shareholder dilution.
• Customers (Old Shorepower): Companies or cities that relied on Shorepower for EV charging will need clarity on their existing contracts and future plans. The new company will not serve these customers.
• Competitors (Old Shorepower): Other EV charging companies will observe Shorepower's exit from the market.

Financial Impact (if applicable)

• Merger Consideration: Aeternum Health LLC contributed at least $1.5 million in cash, valuable intellectual property, and scientific data to the combined entity. In exchange, Paul Mann, Aeternum Health's manager, will receive 2,000,000 shares of Series B preferred stock. Each share is convertible into 40 common shares, granting him significant equity and 51% voting control in the new combined company.
• Capital Structure Changes: The company is increasing its authorized shares from 100 million to 250 million common shares. This expansion provides flexibility for future capital raises but introduces the potential for significant dilution of existing shareholders' ownership.
• Share Cancellation: Jeff Kim, the outgoing CEO, will cancel 13,000,000 shares of his Shorepower common stock in stages. This cancellation will reduce the total outstanding common shares, partially offsetting potential dilution from new issuances.
• Future Funding Needs: The new health and longevity business model will require significant capital for research and development, clinical trials, and potential commercialization. This indicates substantial future funding needs and the potential for further equity financing.
• Financial Reporting: Detailed financial statements for Aeternum Health, including audited financials and pro forma combined financials, will be filed by late April 2026. These will provide a clearer picture of the new entity's financial position and cash runway.

What happens next? (Immediate and future implications)

• Immediately: The company will officially change its name to Aeternum Health and seek a new stock trading symbol. Paul Mann will take over as CEO.
• Short-term: Aeternum Health will file detailed financial statements (expected by late April 2026, within 71 days of the announcement) to disclose its assets, liabilities, and financial health to investors. These filings will include audited financials for Aeternum Health and pro forma combined financials for the new entity. The new management will also begin outlining their specific strategy for the longevity and anti-aging business, including initial research and development plans for its novel peptide mix.
• Long-term: The company's success now hinges entirely on Aeternum Health's ability to develop and commercialize its novel peptide mix and other health solutions. This highly competitive and regulated industry will require significant capital for R&D, clinical trials, and potential commercialization. Investors will closely watch whether the new leadership can deliver on its ambitious vision, particularly regarding scientific milestones, regulatory progress, and financial performance.

Key Takeaways for Investors

For investors considering Shorepower stock, here are the key takeaways:

• This is a NEW Company: Investors should treat this as an investment in a completely new company. The former Shorepower effectively no longer exists.
• High Risk, Potentially High Reward: The health and longevity sector can be very lucrative, but it is also very risky, especially for a new venture with an unproven novel peptide mix. Prepare for significant R&D costs, long development cycles, a high probability of clinical trial failures, and a strict regulatory environment.
• Do Your Homework (Again!): Research Aeternum Health, Paul Mann's background (specifically his track record in biotech development and commercialization), and the longevity market. Understand the new business model, the specific science behind the peptide mix, potential competition, and the regulatory hurdles involved in bringing such products to market.
• Expect Significant Volatility & Dilution: The stock price will likely be very volatile as the market digests this complete pivot. Be aware of potential future dilution from the increased authorized shares, which could impact ownership.
• Watch for Financials & Strategy: The upcoming financial statements for Aeternum Health will be critical for understanding the new company's starting financial position, including its cash runway and burn rate. Pay close attention to management's detailed pipeline, clinical development plan, and commercialization strategy for their products.
• Don't Rely on Old Information: Any previous analysis or understanding of Shorepower as an EV company is now obsolete.