LHAI — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-12

• For the three months ended June 30, 2026 and 2025, we completed four and seven property transactions, respectively, through the Cash Offer program. Although the number of transactions decreased, the increase in revenue was primarily attributable to a higher average transaction price, which increased…

• Revenue from property purchases and sales through our Cash Offer program accounted for 97.68% and 96.68% of net revenues for the six months ended June 30, 2026 and 2025, respectively. Revenue from this program decreased by $79,790, or 0.79%, from $10,159,990 for the six months ended June 30, 2025 to…

• For the six months ended June 30, 2026 and 2025, we completed nine and thirteen property transactions, respectively, through the Cash Offer program. The decrease in the number of transactions was substantially offset by an increase in average transaction price from approximately $0.78 million for th…

• Revenue from property management services increased by $1,140, or 64.52%, from $1,767 for the three months ended June 30, 2025 to $2,907 for the three months ended June 30, 2026. The increase was primarily attributable to growth in ongoing property management activities. The number of properties und…

• Revenue from home renovation services increased by $40,683, or 55.87%, from $72,817 for the three months ended June 30, 2025 to $113,500 for the three months ended June 30, 2026. We completed two home renovation projects during each period. The increase in revenue was primarily attributable to diffe…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• For the three months ended March 31, 2026 and 2025, we completed five and six property transactions, respectively, through the Cash Offer program. The decrease in revenue was primarily attributable to a lower number of transactions and lower transaction volume, which management believes was primaril…

• Revenue from property management services increased by $5,090, or 288.06%, from $1,767 for the three months ended March 31, 2025 to $6,857 for the three months ended March 31, 2026. The increase was primarily attributable to growth in tenant placement services and the number of properties under ongo…

• Revenue from mortgage referral services increased by $6,813, or 108.14%, from $6,300 for the three months ended March 31, 2025 to $13,113 for the three months ended March 31, 2026. The increase in mortgage referral fees per transaction was primarily attributable to higher transaction volumes, increa…

• Revenue from home renovation services decreased by $9,952, or 100.00%, from $9,952 for the three months ended March 31, 2025 to $0 for the three months ended March 31, 2026. The decrease was attributable to no home renovation projects completed during the three months ended March 31, 2026, compared …

• Cost of property purchases and sales through Cash Offer decreased by $753,062, or 13.85%, from $5,437,924 for the three months ended March 31, 2025 to $4,684,862 for the three months ended March 31, 2026. The decrease was primarily attributable to a lower number of Cash Offer transactions during the…

Text added vs the prior filing · source: 10-Q · 2026-08-12

• During our preparation of our Annual Report on Form 10-K/A for the year ended December 31, 2025, our management identified material weaknesses in the Company’s internal control over financial reporting related to: (i) a lack of sufficient in-house qualified accounting staff with the appropriate leve…

• Notwithstanding these material weaknesses, management believes that the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q fairly present, in all material respects, the Company’s financial position, results of operations and cash flows for the periods presente…

• Plan of Remediation of Material Weaknesses in Internal Control Over Financial Reporting

• We have taken, and are taking, certain actions to remediate the material weaknesses related to our lack of U.S. GAAP experience. We plan to hire additional credentialed professional staff and consulting professionals with greater knowledge and experience of U.S. GAAP and related regulatory requireme…

• There were no changes in our internal control over financial reporting during the quarter ended June 30, 2026 that materially affected, or were reasonably likely to materially affect, our internal control over financial reporting. Management continues to evaluate and implement remediation measures r…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• There were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) during the most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financia…

Text added vs the prior filing · source: 10-Q · 2026-08-12

• The Company has notified its directors’ and officers’ liability insurance carrier regarding the matter and has submitted a claim for coverage under the applicable policy. No assurance can be given as to whether, or to what extent, any loss or defense cost relating to this matter will ultimately be c…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• The Company has notified its directors and officers liability insurance carrier regarding the matter. The Company and its executives maintain directors and officers liability insurance coverage.