What changed in this filing

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Item 1B. Unresolved Staff Comments

2026-03-31 compared with 2025-03-27 · 87 added, 20 removed, 21 unchanged (84% of the section changed)

11 unchanged sentences

objectives and operational needs.

In the past year we

have implemented more stringent email monitoring and

contracted with managed services companies in the US and Hungary.

We face risks from cybersecurity threats that could have a material adverse

effect on our business, financial condition, results of operations, cash flows or reputation.

We acknowledge that the risk of cyber incidents

is prevalent in the current threat landscape and that a future cyber incident may occur in the normal course of business.

has not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents that have materially

affected or are reasonably likely to materially affect us, including our operations, business strategy, financial condition, results of

operations, or cash flows.

We proactively seek to detect and investigate unauthorized attempts and attacks against IT assets, data, and

services, and to prevent their occurrence and recurrence where practicable;

however, potential vulnerabilities to known or unknown threats

will still remain.

Further, there is increasing regulation regarding responses to cybersecurity incidents, including reporting to regulators,

investors, and additional stakeholders, which could subject the Company to additional liability and reputational harm.

In response to

such risks, we have implemented initiatives such as implementation of the cybersecurity risk assessment process and development of an

incident response plan.

In the past year we have implemented more stringent email monitoring and contracted with managed services

face risks from cybersecurity threats that could have a material adverse effect on our business, financial condition, results of operations,

cash flows or reputation.

We acknowledge that the risk of cyber incidents is prevalent in the current threat landscape and that a future

cyber incident may occur in the normal course of business.

The Company has not identified risks from known cybersecurity threats, including

as a result of any prior cybersecurity incidents that have materially affected or are reasonably likely to materially affect us, including

our operations, business strategy, financial condition, results of operations, or cash flows.

We proactively seek to detect and investigate

unauthorized attempts and attacks against IT assets, data, and services, and to prevent their occurrence and recurrence where practicable;

however, potential vulnerabilities to known or unknown threats will still remain.

Further, there is increasing regulation regarding responses

to cybersecurity incidents, including reporting to regulators, investors, and additional stakeholders, which could subject the Company

to additional liability and reputational harm.

In response to such risks, we have implemented initiatives such as implementation of the

cybersecurity risk assessment process and development of an incident response plan.

of our digital assets in our Solana Treasury Strategy

Company utilizes independent third-party custodians for the safekeeping of its digital assets held in treasury.

The Company maintains

relationships with multiple custodians in order to mitigate operational, counterparty, and concentration risk and may expand these relationships

as its treasury holdings increase.

Custodial accounts are established in the name of the Company, and assets are segregated in accounts

owned by the Company.

Access to these accounts is monitored and controlled by the Company, and authorized asset management personnel

are granted access subject to established internal controls.

Transfers of assets between wallets require multi-person authorization,

and additional controls apply to any movement of assets outside of custodial control.

custodians generally operate through regulated trust entities subject to oversight by applicable state regulatory authorities and

maintain their own insurance coverage.

In addition to long-term custody arrangements, the Company utilizes institutional custodial

platforms to facilitate the acquisition and trading of digital assets.

These arrangements are governed by standard institutional

agreements and are generally terminable by either party in accordance with their terms.

Fees are typically based on assets under

custody, trading volume, and services utilized.

Custodial relationships may be suspended or terminated under certain circumstances,

including breach of applicable agreements, violations of account use policies, changes in applicable law or regulation, governmental

proceedings, insolvency events, or prolonged account inactivity.

custodians generally maintain insurance policies covering certain risks, including loss, theft, and misuse of assets, subject to

policy limits and conditions.

Such insurance coverage may not be sufficient to cover the total loss of all digital assets held in

The Company may also maintain additional insurance coverage;

however, there can be no assurance that any insurance coverage

will be adequate to protect against all potential losses.

assets are subject to significant market volatility.

Management regularly reviews account balances and the total value held with each

custodian and may reallocate holdings among multiple custodians and accounts as part of its risk management strategy.

The Company does

not utilize self-custody solutions for its treasury assets.

keys are generally generated and maintained by the custodians through formalized key generation procedures conducted in secure,

offline environments designed to mitigate the risk of unauthorized access, technical error, or external compromise.

These processes

incorporate segregation of duties, multi-person controls, oversight, validation procedures, and documented approvals.

A substantial

majority of the Company’s digital assets are maintained in cold storage.

The Company may manage allocations between cold and

hot wallets through custodial interfaces;

however, substantially all treasury assets are maintained in cold storage.

storage facilities are generally geographically distributed and secured through multiple layers of physical and operational

safeguards, including continuous on-site security, video surveillance, alarm systems, hardened infrastructure, and strict access

controls requiring multi-person authorization and multi-factor authentication.

The locations of such facilities are confidential and

may change at the custodian’s discretion.

Transfers from cold to hot storage require physical access to secure facilities,

multiple levels of approval, and integrity verification procedures.

Private keys are not removed from secure devices or cold storage

environments during transaction processing.

Custodians also maintain geographically dispersed, cryptographically segmented backups

of private keys, such that reconstruction of any single key requires access to multiple secure locations.

custodians generally maintain independent third-party audit reports, including SOC examinations, which the Company reviews, and the

Company receives periodic bridge reports to confirm that relevant control environments remain in place.

As part of its ongoing risk

management process, the Company periodically evaluates and approves qualified custodians for treasury use and may onboard additional

The Company incurs custody, storage, staking, and transaction fees in connection with these services.

agreements generally have multi-year terms and may be terminated upon advance notice, subject to payment of outstanding fees and, in

certain cases, additional notice-period fees.

Third-party Risk

5 unchanged sentences

This approach is designed to mitigate risks related to data breaches or other security incidents

originating from third-parties.

originating from third-parties but may not successfully prevent all potential incidents or mitigate all risk from such incidents.

from Cybersecurity Threats

have not encountered cybersecurity challenges that have materially impaired our operations or financial standing.

However, as discussed

under “Risk Factors” in Part I, Item 1A of this report, cybersecurity threats pose multiple and potentially material risks

to the Company, including potentially to the Company’s results of operations and financial condition.

The Company relies extensively

on information technology systems and could face cybersecurity risk.

As cybersecurity threats become more frequent, sophisticated, and

coordinated, it is reasonably likely that the Company may expend greater resources to continue to modify and enhance protective measures

against such security risks.

lease office space, on a month-to-month basis, at 105 Maxess Road, Melville, New York 11747.

Our monthly rent is $233.

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-K

Item 1B. Unresolved Staff Comments