Star Equity Holdings (STRR) presented at Sidoti's Micro-Cap Virtual Conference on January 22. In this note we summarize the key takeaways from the company's presentation. Also on January 22, STRR announced it is seeking to merge with GEE Group, Inc., a staffing company focused on IT with about $100 million in annual revenue. In response, GEE issued a statement expressing skepticism about STRR's proposal. STRR owns 5.4% of GEE common shares. We await developments, as GEE seeks to remain independent. Hudson Talent Solutions gained $11 million in “new logo” business in the 12 months through 3Q:25, in addition to $40 million in contract renewals. Hudson sees the rapid adoption of AI in the recruitment industry as an opportunity to gain market share, with new technologies potentially reshuffling the ranks among industry leaders. Hudson's AI tools are already being used by major clients. The Building Solutions segment continues to see revenue growth, reaching a $70 million annualized pace in 3Q:25 with a 25% gross margin. The 3Q:25 book-to-bill ratio was 1.01. STRR is seeking to increase revenue in the Energy Services segment at a high single-digit rate over the next few years. CEO Jeff Eberwein continues to invest in STRR common shares. Mr. Eberwein now owns 27% of STRR. Other STRR insiders own about 5% in aggregate. In our view, management's significant equity holdings and ongoing purchases are a bullish sign for STRR. We maintain our price target of $13 and our Moderate risk rating. We derive our price target by applying STRR's historical multiple of 11x to our $1.44 estimate for 2027 EPS, then adding in the projected value of STRR's net cash position of $0.44 at 2027 yearend. Our Moderate risk rating is supported by STRR's modest debt to capital ratio of 25%.