Xtreme One Entertainment Awarded $880,000 in Restitution in Final Summary Judgment; Mediation Set to Determine Added Damages in Alleged Fraud Case

Court Also Grants $XONI Request for Criminal Contempt Hearing Against Williamsburg CEO Ronald Glenn for Perjury

GRAND RAPIDS, Mich., July 30, 2026 (GLOBE NEWSWIRE) -- Xtreme One Entertainment, Inc. (OTCQB: XONI) (“Xtreme One”), a diversified media and live-event sports company, and parent of Xtreme Fighting Championships (XFC), today announced it was awarded $883,700 plus interest as restitution in the Company’s lawsuit. Additionally, its request for a Show-Cause Hearing for Criminal Contempt for perjury by Ronald Glenn, the Managing Member of lender Williamsburg Venture Holdings, LLC (“WVH”), was also granted by the Court. The criminal hearing was ordered by Kent County (Michigan) Circuit Court Judge Curt Benson for September 9, 2026, at 10:30 a.m. ET.

Xtreme One’s ongoing lawsuit alleges fraud, conversion, breach of contract, and wire fraud and Court-ordered mediation is scheduled for August 26, 2026, to determine alleged damages to the Company and its stock.

“A nearly million-dollar judgment is a clear endorsement of the magnitude of this fraud, but it was also certainty for the market as evidenced by positive momentum in our stock price on news of the Summary Judgment,” said Jeff Lambert, Chairman and CEO of Xtreme One Entertainment. “We brought the fight to our opponent and can now let the system of justice work while we focus on the business and our second half 2026 event schedule.”

Lambert added: “Though this legal saga continues to unfold as we gather more evidence of blatant fraud against the Company, we’re hopeful the clarity of the facts, evidenced perjury and forgery, and the addition of potential criminal charges are sufficient for the Mediator and Judge Benson to see this for what it is and for Mr. Glenn to be held accountable.”

The broader lawsuit, filed by Plaintiffs Xtreme One Entertainment and key shareholders, alleges that WVH entered into a $10 million equity purchase agreement with Xtreme One in January 2026. However, instead of funding the purchase of the XONI shares as agreed, WVH allegedly induced Xtreme One to transfer the shares without paying for them by producing multiple forged documents and wire receipts, then sold the stock at deeply discounted prices on the open market. The lawsuit alleges that this irregular trading was the cause of the rapid decline in the price of XONI stock, along with harm to the company’s reputation and loss of investor goodwill.

Sworn testimony in the case by Mr. Glenn, as part of the Preliminary Injunction and his first court-ordered Criminal Contempt Show Cause Hearing for alleged perjury, confirmed that WVH sold 3 million shares of XONI stock at $0.003 per share, a small fraction of the $0.07 closing price at the end of that trading day, and WVH subsequently sold an additional 3.6 million shares at an average price of $.009 per share.

About Xtreme One Entertainment, Inc.
Xtreme One Entertainment, Inc. (OTC: XONI) is a diversified holding company focused on media, entertainment, live sports, and event marketing. Through its wholly owned subsidiary, XFC Global, Inc., the company licenses the brands and IP of Xtreme Fighting Championships, which has delivered more than 50 professional, televised MMA events across the U.S. and Latin America since 2006. Since acquiring XFC in 2023, Xtreme One has produced seven nationally televised MMA events reaching millions of fans. XFC fights stream live on Fandango at Home, CDN Deportes, XFC’s YouTube Channel, American Forces Network, and a growing list of global media platforms.

For more information, visit XtremeOne.com or XFC.global. Investors can access rewards, merchandise discounts, and VIP event opportunities through the Xtreme Shareholder Rewards Program at www.TickerPerks.com or on the $XONI investor relations site.

Contact:
Jeff Lambert, CEO
jlambert@xtremeone.com

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