What changed in this filing

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Item 1. Financial Statements

2026-03-17 compared with 2025-12-15 · 103 added, 97 removed, 423 unchanged (32% of the section changed)

11 unchanged sentences

HAMMER TECHNOLOGY HOLDINGS CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

Current Assets

16 unchanged sentences

Stockholders' Deficit

Common stock, $ 0.001 par value, 250,000,000 shares authorized 73,310,489 shares issued, and 69,057,154 shares outstanding at October 31, 2025 and July 31, 2025

Treasury stock ( 4,253,335 shares held at October 31, 2025 and July 31, 2025)

Common stock, $ 0.001 par value, 250,000,000 shares authorized 73,310,489 shares issued, and 69,057,154 shares outstanding at January 31, 2026 and July 31, 2025

Treasury stock ( 4,253,335 shares held at January 31, 2026 and July 31, 2025)

Additional paid-in capital

6 unchanged sentences

For the Three Months Ended

For the Six Months Ended

Operating expenses

5 unchanged sentences

Interest expense

Gain (loss) on change in fair value of warrant liability

Warrant adjustment to fair value

Total other income (expense)

4 unchanged sentences

Net loss from discontinued operations

Total net loss from discontinued operations, after taxes

Gain on disposal of subsidiaries

Total net income from discontinued operations, after taxes

Net (loss) income

Net loss from continuing operations per share, basic and diluted

Net loss from discontinued operations per share, basic and diluted

Total net loss per share, basic and diluted

Weighted average number of common shares outstanding - basic and diluted

Net income from discontinued operations per share, basic

Net income from discontinued operations per share, diluted

Total net income per share, basic and diluted

Weighted average number of common shares outstanding, basic

Weighted average number of common shares outstanding, diluted

See accompanying notes to the unaudited condensed consolidated financial statements.

3 unchanged sentences

Stockholders'

Equity (Deficit)

Balance, July 31, 2024

Balance, October 31, 2024

Treasury stock from Viper sale

Balance, January 31, 2025

Balance, July 31, 2025

1 unchanged sentence

Balance, October 31, 2025

Balance, January 31, 2026

See accompanying notes to the unaudited condensed consolidated financial statements.

1 unchanged sentence

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

For the Three Months Ended October 31,

For the Six Months Ended January 31,

Cash flows from operating activities:

13 unchanged sentences

Cash flows from discontinued operations:

Cash used in operating activities - discontinued operations

Cash provided by operating activities - discontinued operations

Cash used in investing activities - discontinued operations

15 unchanged sentences

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

JANUARY 31, 2026

NOTE 1 - ORGANIZATION AND DESCRIPTION OF BUSINESS

9 unchanged sentences

owns the intellectual property critical to the operations of the Company's financial technology business unit as well as certain key supplier, marketing and operating agreements.

Hammer Fiber Optics Investment Ltd ceased operations on October 31, 2018 when Verizon Communications, LLC terminated the spectrum lease agreement.

During the year ended December 31, 2020, the Company's board of directors approved the discontinuation of the operations of the Company's subsidiary Open Data Centers LLC.

The operations of Open Data Centers, LLC were discontinued and the Company shut down its operations in its Piscataway, NJ data center.

Open Data Centers, LLC was dissolved on December 30, 2020.

On July 31, 2023 the Company's board of directors approved the discontinuation of the operations of Hammer Wireless (SL) Limited, the Company's data communications service in Sierra Leone.

The operations were discontinued in March 2020 and all assets have been written down.

On August 7, 2024, the Company authorized and executed a Purchase Agreement with Viper Networks, Inc.

22 unchanged sentences

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

JANUARY 31, 2026

Going Concern

The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business.

For the three months ended October 31, 2025 the Company incurred a net loss from continuing operations of $ 148,875 , cash used in operating activities of $ 187,226 , and $ 0 of revenue generated from continuing operations.

As of October 31, 2025 the Company had a working capital deficiency of $ 704,358 .

For the six months ended January 31, 2026 the Company incurred a net loss from continuing operations of $ 301,755 , cash used in operating activities of $ 328,442 , and no revenue was generated from continuing operations.

As of January 31, 2026 the Company had a working capital deficiency of $ 697,463 .

Additionally, the Company has consistently sustained losses since its inception.

17 unchanged sentences

The balances are insured by the Federal Deposit Insurance Corporation ("FDIC") up to $ 250,000 .

The Company monitors the cash balances held in its bank accounts, and as of October 31, 2025 and July 31, 2025, the Company did not have any cash balances which exceeded the insured amounts.

The Company monitors the cash balances held in its bank accounts, and as of January 31, 2026 and July 31, 2025, the Company did not have any cash balances which exceeded the insured amounts.

Property and equipment

5 unchanged sentences

Property and Equipment, net categories

Estimated Useful Life

Estimated Useful

Computer and telecom equipment

1 unchanged sentence

This review occurs annually or more frequently if events or changes in circumstances indicate the carrying amount of the asset may not be recoverable.

Based on management's assessment, there were no indicators of impairment of the Company's property and equipment as of October 31, 2025 and July 31, 2025, respectively.

Based on management's assessment, there were no indicators of impairment of the Company's property and equipment as of January 31, 2026 and July 31, 2025, respectively.

Impairment of long-lived assets

2 unchanged sentences

If such assets are considered impaired, the impairment to be recognized is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets.

The Company did not recognize any impairment losses during the three months ended October 31, 2025 and 2024.

The Company did not recognize any impairment losses during the six months ended January 31, 2026 and 2025.

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

JANUARY 31, 2026

Intangible Assets

18 unchanged sentences

All leases that have lease terms of one year or less are considered short-term leases, and therefore are not recorded through a ROU asset or liability.

As of October 31, 2025 and July 31, 2025, the Company did not have any leases with terms greater than 12 months.

As of January 31, 2026 and July 31, 2025, the Company did not have any leases with terms greater than 12 months.

The Company does currently hold a month-to-month tenancy agreements for office space costing less than $2,000 per month.

9 unchanged sentences

The company accrues for sales returns, credit losses, and other allowances based on its historical experience.

The Company did not generate any revenues for the three months ended October 31, 2025 or 2024.

The Company did not generate any revenues for the six months ended January 31, 2026 or 2025.

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JANUARY 31, 2026

The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, "Accounting for Income Taxes".

2 unchanged sentences

The Company records a valuation allowance to reduce deferred tax assets to the amount that is believed more likely than not to be realized.

As of October 31, 2025 and July 31, 2025, the Company did not have any amounts recorded pertaining to uncertain tax positions.

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

As of January 31, 2026 and July 31, 2025, the Company did not have any amounts recorded pertaining to uncertain tax positions.

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant's specific terms and applicable authoritative guidance in ASC 480, Distinguishing Liabilities from Equity ("ASC 480") and ASC 815, Derivatives and Hedging ("ASC 815").

12 unchanged sentences

Repurchases are reflected as reductions of stockholders equity at cost.

Treasury stock is not considered outstanding and is excluded from the calculation of basic and diluted weighted average shares outstanding (Note 8 - Stockholders' Equity).

Treasury stock is not considered outstanding and is excluded from the calculation of basic and diluted weighted average shares outstanding (Note 8 - Stockholders' Equity (Deficit)).

Basic and diluted income (loss) per share

4 unchanged sentences

The following potentially dilutive securities have been excluded from computations of dilutive weighted average shares outstanding as they would be anti-dilutive:

October 31, 2025

October 31, 2024

January 31, 2025

Convertible Notes - Related Parties

Convertible Notes

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JANUARY 31, 2026

Fair value measurements

4 unchanged sentences

ASC 820 describes three levels of inputs that may be used to measure fair value:

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

Level 1 - quoted prices in active markets for identical assets or liabilities

4 unchanged sentences

Warrants liabilities are valued at Level 3.

Fair Value Measurements at October 31, 2025 using:

Fair Value Measurements at January 31, 2026

Quoted Prices

1 unchanged sentence

Warrant Liabilities

Fair Value Measurements at July 31, 2025 using:

July 31, 2025

Fair Value Measurements at July 31, 2025

Quoted Prices

2 unchanged sentences

The warrant liabilities are measured at fair value using quoted market prices and estimated volatility factors based on historical prices for the Company's common stock and are classified within Level 3 of the valuation hierarchy.

The following table provides a summary of changes in fair value of the Company's Level 3 financial liabilities as of October 31, 2025 and July 31, 2025:

October 31, 2025

The following table provides a summary of changes in fair value of the Company's Level 3 financial liabilities as of January 31, 2026 and July 31, 2025:

January 31, 2026

July 31, 2025

2 unchanged sentences

Ending Balance

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JANUARY 31, 2026

The below table shows the Black-Scholes option-pricing model inputs used by the Company to value the derivative liability at each measurement date:

October 31, 2025

January 31, 2026

July 31, 2025

12 unchanged sentences

The Company is currently evaluating the impact of this standard on our consolidated financial statements and related disclosures.

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

NOTE 3 - DISCONTINUED OPERATIONS

17 unchanged sentences

Discontinued operations are presented retrospectively in the financial statements.

The following table represents the assets and liabilities of discontinued operations as of October 31, 2025 and July 31, 2025:

The following table represents the assets and liabilities of discontinued operations as of January 31, 2026 and July 31, 2025:

Current liabilities

2 unchanged sentences

Total liabilities - discontinued operations

The following table represents the major components of the financial results of discontinued operations for the three months ended October 31, 2025 and 2024:

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JANUARY 31, 2026

The following table represents the major components of the financial results of discontinued operations for the six months ended January 31, 2026 and 2025:

For the Three Months Ended,

For the Six Months Ended,

Cost of sales

6 unchanged sentences

Financing expense

Gain on disposal of subsidiaries

Total other income (expense)

2 unchanged sentences

Net loss from discontinued operations, after taxes

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

NOTE 4 - PROPERTY AND EQUIPMENT

As of October 31, 2025 and July 31, 2025, property and equipment consisted of the following:

As of January 31, 2026 and July 31, 2025, property and equipment consisted of the following:

Computer and telecom equipment

Accumulated depreciation

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

The company regularly reviews property and equipment for possible impairment.

This review occurs annually or more frequently if events or changes in circumstances indicate the carrying amount of the asset may not be recoverable.

Based on management's assessment, there were no indicators of impairment of the Company's property and equipment as of October 31, 2025 and July 31, 2025, respectively.

The Company recognized depreciation expense of $ 135 and $ 135 for the three months ended October 31, 2025 and 2024, respectively.

Based on management's assessment, there were no indicators of impairment of the Company's property and equipment as of January 31, 2026 and July 31, 2025, respectively.

The Company recognized depreciation expense of $ 270 and $ 1,890 for the six months ended January 31, 2026 and 2025, respectively.

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JANUARY 31, 2026

NOTE 5 - INTANGIBLE ASSETS, NET

The following table displays the composition of intangible assets, net as well as the respective amortization period:

October 31, 2025

January 31, 2026

July 31, 2025

2 unchanged sentences

The Company also capitalizes internal-use software development costs.

During the three months ended October 31, 2025 and 2024 the Company capitalized $ 0 of software development costs (Note 2 - Summary of Significant Accounting Policies).

During the Six months ended January 31, 2026 and 2025 the Company capitalized $ 0 of software development costs (Note 2 - Summary of Significant Accounting Policies).

Due to uncertainty regarding the Company's ability to accurately project future earnings and positive cash flows related to its customer contracts intangible asset, the Company fully impaired the customer contracts asset as of July 31, 2025.

As a result, the Company recognized a loss from the impairment of intangible assets of $ 1,888,242 for the year ended July 31, 2025.

The Company incurred amortization expense of $ 30,940 and $ 168,892 for the three months ended October 31, 2025 and 2024, respectively.

The Company incurred amortization expense of $ 61,880 and $ 337,784 for the six months ended January 31, 2026 and 2025, respectively.

Estimated annual amortization expense for intangible assets is as follows:

3 unchanged sentences

The promissory note bears interest at a rate of 6 % annually and has a maturity date of December 31, 2024.

During the three months ended October 31, 2025 and 2024 the Company incurred interest expense of $ 367 and $ 367 , respectively, due to the promissory note.

At October 31, 2025 and July 31, 2025 the Company had an outstanding accrued interest balance from the promissory note of $ 5,565 and $ 5,199 , respectively.

As of October 31, 2025 and July 31, 2025, the balance of this note was $ 24,253 .

As of October 31, 2025 the promissory note was past due and in default.

As of October 31, 2025 and July 31, 2025, notes payable consisted of the following:

October 31, 2025

During the six months ended January 31, 2026 and 2025 the Company incurred interest expense of $ 734 and $ 734 , respectively, due to the promissory note.

At January 31, 2026 and July 31, 2025 the Company had an outstanding accrued interest balance from the promissory note of $ 5,932 and $ 5,199 , respectively.

As of January 31, 2026 and July 31, 2025, the balance of this note was $ 24,253 .

As of January 31, 2026 the promissory note was past due and in default.

As of January 31, 2026 and July 31, 2025, notes payable consisted of the following:

January 31, 2026

July 31, 2025

8 unchanged sentences

The interest and maturity date on this convertible note have been waived by the lender.

As a result, the Company did not recognize any interest expense from this note during the three months ended October 31, 2025 and 2024 .

As a result, the Company did not recognize any interest expense from this note during the six months ended January 31, 2026 and 2025.

On August 9, 2025 the convertible note was forgiven by its holder.

As the convertible note's holder was a related party the forgiveness was recorded as a capital contribution to additional paid-in capital of $ 7,500 .

As of October 31, 2025 and July 31, 2025, the balance of this convertible note was $ 0 and $ 7,500 , respectively.

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

As of January 31, 2026 and July 31, 2025, the balance of this convertible note was $ 0 and $ 7,500 , respectively.

On August 24, 2019, the Company entered into two convertible notes with Andera Capital, LLC and Somerset Health Care Advisors, both of which are related parties (who were former partners in 1stPoint Communications, LLC) in the amounts of $ 12,000 and $ 6,000 respectively.

1 unchanged sentence

The interest and maturity dates on these convertible notes have been waived by the lender.

As a result, the Company did not recognize any interest expense from this note during the three months ended October 31, 2025 and 2024 .

As a result, the Company did not recognize any interest expense from this note during the six months ended January 31, 2026 and 2025.

The convertible notes convert at a 20 % discount to market on the date of the proposed conversion, at the option of the Company or lender.

1 unchanged sentence

As the convertible notes' holders were related parties, the forgiveness was recorded as a capital contribution to additional paid-in capital of $ 18,000 .

As of October 31, 2025 the balances of each of these notes were $ 0 .

As of January 31, 2026 the balances of each of these notes were $ 0 .

As of July 31, 2025 the balances of each of these notes were $ 12,000 and $ 6,000 .

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JANUARY 31, 2026

On April 20, 2020, the Company entered into a convertible note with Erik Levitt, a former Chief Financial Officer of the Company, in the amount of $ 36,300 with an original maturity date of April 20, 2024.

2 unchanged sentences

The interest and maturity date on this note have been waived by the lender.

As a result, the Company did not recognize any interest expense from this note during the three months ended October 31, 2025 and 2024 .

As a result, the Company did not recognize any interest expense from this note during the six months ended January 31, 2026 and 2025.

On August 9, 2025 the convertible note was forgiven by its holder.

As the holder of the convertible note was a related party, the forgiveness was recorded as a capital contribution to additional paid-in capital of $ 36,300 .

As of October 31, 2025 and July 31, 2025, the balance of this convertible note was $ 0 and $ 36,300 , respectively.

As of January 31, 2026 and July 31, 2025, the balance of this convertible note was $ 0 and $ 36,300 , respectively.

On February 26, 2021, the Company entered into a convertible note (the "February 2021 Convertible Note") with Michael Sevell, a Director of the Company, in the amount of $ 25,000 .

1 unchanged sentence

The interest and maturity date of the February 2021 Convertible Note have been waived by the lender.

As a result, the Company did not recognize any interest expense from the February 2021 Convertible Note during the three months ended October 31, 2025 and 2024 .

As a result, the Company did not recognize any interest expense from the February 2021 Convertible Note during the six months ended January 31, 2026 and 2025.

The convertible note converts at a 20 % discount to market on the date of the proposed conversion, at the option of the Company or lender.

2 unchanged sentences

Michael Sevell and Michael Cothill, two Directors of the Company, are both Directors of CGRPE.

On May 26, 2025 the Company and CGRPE entered into a debt exchange agreement (the "exchange"), pursuant to which the entire principal balance of the February 2021 Convertible Note was forgiven in exchange for 10,154,542 shares of common stock (Note 8 - Stockholders' Equity).

As a result, the Company recognized a loss on conversion of $ 974,836 .

Immediately prior to the exchange the February 2021 Convertible Note had a principal balance of $ 2,680,799 .

As of October 31, 2025 and July 31, 2025, the balance of this note was $ 0 .

As of January 31, 2026 and July 31, 2025, the balance of this note was $ 0 .

On May 2, 2025, the Company entered into a promissory note agreement ("May 2025 Convertible Note") with CGRPE, pursuant to which CGRPE agreed to fund the Company with advances in an open loan facility.

3 unchanged sentences

The conversion price is equal to the prevailing market price on the date of conversion at a 25 % discount.

As of October 31, 2025 and July 31, 2025 the outstanding balance due to the May 2025 Convertible note was $ 295,946 and $ 85,946 , respectively.

The Company recognized interest expense of $ 2,001 due to the May 2025 Convertible note during the three months ended October 31, 2025.

As of October 31, 2025 and July 31, 2025, related parties convertible debt consisted of the following:

October 31, 2025

As of January 31, 2026 and July 31, 2025 the outstanding balance due to the May 2025 Convertible note was $ 424,646 and $ 85,946 , respectively.

The Company recognized interest expense of $ 5,655 due to the May 2025 Convertible note during the six months ended January 31, 2026.

As of January 31, 2026 and July 31, 2025, related parties convertible debt consisted of the following:

January 31, 2026

July 31, 2025

4 unchanged sentences

The holders of common stock are entitled to receive dividends whenever funds are legally available, when and if declared by the Company's Board of Directors.

As of October 31, 2025 and July 31, 2025, no cash dividend has been declared to date.

As of January 31, 2026 and July 31, 2025, no cash dividend has been declared to date.

Each share of common stock is entitled to one vote.

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

Treasury Stock

3 unchanged sentences

The treasury stock from the Viper Sale was recorded at $ 0.25 per share, resulting in a total value of $ 625,000 .

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

JANUARY 31, 2026

The Company utilizes the cost method of accounting to value treasury stock when repurchasing stock.

4 unchanged sentences

These provisions are based on current information and legal advice and may be adjusted from time to time according to developments.

As of October 31, 2025 and July 31, 2025 the Company had accrued a liability of $ 26,000 due to trust fund recovery penalty ("TFRP") taxes which may be assessed against former directors or officers of the Company by the New Jersey Division of Taxation.

As of January 31, 2026 and July 31, 2025 the Company had accrued a liability of $ 26,000 due to trust fund recovery penalty ("TFRP") taxes which may be assessed against former directors or officers of the Company by the New Jersey Division of Taxation.

Such former directors and officers may seek to be indemnified by the Company as a result of the TRFP taxes.

15 unchanged sentences

The warrants were evaluated for purposes of classification between liability and equity and pursuant to ASC 480 the warrants are classified as liabilities.

Total outstanding warrant liabilities of the disclosed above are $ 44,400 and $ 63,000 as of October 31, 2025, and July 31, 2025, respectively.

Total outstanding warrant liabilities of the disclosed above are $ 53,985 and $ 63,000 as of January 31, 2026, and July 31, 2025, respectively.

The following schedule summarizes the changes in the Company's common stock warrants during the six months ended January 31, 2026 and 2025:

HAMMER TECHNOLOGY HOLDINGS CORP.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

The following schedule summarizes the changes in the Company's common stock warrants during the three months ended October 31, 2025 and 2024:

JANUARY 31, 2026

Balance outstanding at July 31, 2024

Expired/Canceled

Balance outstanding at October 31, 2024

Exercisable at October 31, 2024

Balance outstanding at January 31, 2025

Exercisable at January 31, 2025

Balance outstanding at July 31, 2025

Expired/Canceled

Balance outstanding at October 31, 2025

Exercisable at October 31, 2025

The fair values of the warrant liabilities as of October 31, 2025 and July 31, 2025 were estimated using Black-Scholes option-pricing model with the following assumptions:

Balance outstanding at January 31, 2026

Exercisable at January 31, 2026

The fair values of the warrant liabilities as of January 31, 2026 and July 31, 2025 were estimated using Black-Scholes option-pricing model with the following assumptions:

Exercise Price

14 unchanged sentences

For the Three Months Ended,

For the Six Months Ended,

Significant and other segment expenses

3 unchanged sentences

Change in fair value of warrant liability

Loss on conversion of debt

Net loss from continuing operations

1 unchanged sentence

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

OCTOBER 31, 2025

JANUARY 31, 2026

NOTE 12 - SUBSEQUENT EVENTS

Between November 1, 2025 and November 19, 2025 the Company received $ 55,000 in proceeds pursuant to the May 2025 Convertible Note (Note 7 - Related Party Convertible Debt).

Between February 1, 2026 and February 27 2026, the Company received $ 23,500 in proceeds pursuant to the May 2025 Convertible Note (Note 7 - Related Party Convertible Debt).

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements