HSDT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-14

• We launched our own SOL validator cluster in July 2026. As of the date of this Form 10-Q, external parties have delegated 0.5 million SOL to stake on our cluster.

• On March 17, 2026, Solana Company (Hong Kong) Limited entered into a share purchase agreement to acquire, directly or indirectly, all of the issued share capital of a Hong Kong trust company. The acquisition closed on July 15, 2026. The total purchase price for the acquisition was $2 million, consis…

• On April 27, 2026, we entered into securities purchase agreements (collectively, the “RDO Purchase Agreements”) with the purchasers named therein (the “Purchasers”), pursuant to which we issued and sold to the Purchasers, in a registered direct offering (the “Registered Direct Offering”), 3,076,922 …

• In connection with the Registered Direct Offering, we entered into put option agreements (collectively, the “Put Option Agreements”) with the Purchasers pursuant to which we granted each Purchaser the right to require us to repurchase all or a portion of the shares of Class A common stock it purchas…

• On April 8, 2026, we entered into and closed a purchase and sale agreement with Bioness Medical, Inc. (the “Buyer”), pursuant to which we sold the assets related to the Portable Neuromodulation Stimulator (“PoNS“) business to the Buyer (the “PoNS Asset Sale”), and the Buyer assumed certain liabiliti…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• On April 27, 2026, we entered into securities purchase agreements (collectively, the “RDO Purchase Agreements”) with the purchasers named therein (the “Purchasers”), pursuant to which we issued and sold to the Purchasers, in a registered direct offering (the “Registered Direct Offering”), 3,076,922 …

• In connection with the Registered Direct Offering, we entered into put option agreements (collectively, the “Put Option Agreements”) with the Purchasers pursuant to which we granted each Purchaser the right to require us to repurchase all or a portion of the shares of Class A common stock it purchas…

• On April 8, 2026, we entered into and closed a purchase and sale agreement with Bioness Medical, Inc. (the “Buyer”), pursuant to which we sold the assets related to its Portable Neuromodulation Stimulator (“PoNS “) business to the Buyer (the “PoNS Asset Sale”), and the Buyer assumed certain liabilit…

• In connection with the PoNS Asset Sale, in April 2026, the Company terminated the employment of certain employees supporting the PoNS business, for which severance was offered and paid to such employees totaling $1.4 million.

• The increase in staking revenue in the first quarter of 2026 compared to the same period in the prior year was the result of our staked SOL earning staking yield.

Text added vs the prior filing · source: 10-Q · 2026-08-14

• We operate a Solana validator, which may significantly impact our reported revenues and increase our compliance costs.

• We currently earn rewards from the Solana network through staking of our SOL and operating a validator. Our validator operations may result in a significant impact in our reported revenues as a result of applying revenue recognition guidance to the validator resulting in us recognizing staking rewar…

• Our validator operations on the Solana network are subject to significant operational, technological, economic, reputational and regulatory risks, and any disruption, underperformance or adverse development affecting our validator or the Solana network could reduce or eliminate our staking rewards a…

• In addition to the revenue recognition considerations described above, we earn rewards on the Solana network by operating a validator and staking SOL. A validator is a node that participates in the Solana network’s proof-of-stake consensus by voting on the state of the network and, when selected as …

• Operational risks. Our ability to earn rewards depends on operating our validator reliably and continuously. If our validator experiences downtime, becomes "delinquent" (for example, by failing to vote or to remain sufficiently current with the network), misses assigned leader slots, produces blocks…

Text removed vs the prior filing · source: 10-Q · 2026-05-15

• Resignation of Dane C. Andreeff as Chief Executive Officer and President

• On May 12, 2026, the Company and Dane C. Andreeff entered into a separation agreement (the “Andreeff Separation Agreement”) whereby Mr. Andreeff separated from the Company and resigned from the Board of Directors and from his positions as the Company’s Chief Executive Officer and President, and prin…

• Pursuant to the Andreeff Separation Agreement, Mr. Andreeff is entitled to receive a separation payment of $3,000,000 within five (5) business days after the effective date of the Andreeff Separation Agreement, which amount is, among other things, in lieu of any obligations under Mr. Andreeff’s Empl…

• The foregoing description of the Andreeff Separation Agreement does not purport to be complete and is qualified in its entirety by the full text of the Andreeff Separation Agreement, a copy of which is attached hereto as Exhibit 10.3 and incorporated by reference herein.

• Appointment of Joseph Chee as Chairman and Chief Executive Officer and President