PUSA — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• The DTE Agreement was renewed in November 2025 and the renewed contractual price has been fully reflected during the six months ended June 30, 2026. The 10% higher contractual price is a reflection of the inflationary environment that has subsequently negatively impacted the labor, fertilizer and ch…

• The Company accounts for its investment in convertible note at amortized cost because the Company did not elect the fair value option under ASC 825. The carrying amount includes principal and accrued interest, less any allowance for expected credit losses under ASC 326. Interest income is recognized…

• Long-lived assets, representing property and equipment with finite lives, are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may…

• ASC 842 supersedes the lease requirements in ASC 840 “Leases”, and generally requires lessees to recognize operating and finance lease liabilities and corresponding right-of-use (“ROU”) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of …

• Revenue from annual membership dues accounted for 7% and 8% of total revenue for the six months ended June 30, 2026 and 2025. It remained stable for the six months ended June 30, 2026 and 2025.

Text removed vs the prior filing · source: 10-Q · 2026-05-12

• The DTE Agreement was renewed in 2022 and the renewed contractual price has been fully reflected in Q1 2025. The higher contractual price is a reflection of the inflationary environment that has subsequently impacted the labor, fertilizer and chemical markets. The maintenance cost and contract with …

• Long-lived assets, representing property and equipment with finite lives, are reviewed for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may…

• ASC 842 supersedes the lease requirements in ASC 840 “Leases”, and generally requires lessees to recognize operating and finance lease liabilities and corresponding right-of-use (“ROU”) assets on the balance sheet and to provide enhanced disclosures surrounding the amount, timing and uncertainty of …

• Revenue from annual membership dues accounted for 5% and 3% of total revenue for the three months ended March 31, 2026 and 2025. Such increase was mainly due to the increase in demand from customers who paid annual membership dues for the three months ended March 31, 2026.

• The increase in cost of food and beverage by $1,590 or 2% from $65,882 for the three months ended March 31, 2025 to $67,472 for the three months ended March 31, 2026 was in line with the increase in sales of food and beverage.

Text added vs the prior filing · source: 10-Q · 2026-08-13

• As disclosed in Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, management has identified material weaknesses in our internal control over financial reporting as of June 30, 2026, related to (i) inadequate segregation of duties for certain key functions…

Text added vs the prior filing · source: 10-Q · 2026-08-13

• Accounts payable, other payables and accrued liabilities $412,262 $688,927

• FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025

• Interest income from investment in convertible note 498,630 - 547,945 -

• FOR THE THREE MONTHS AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025

• Accounts payable, other payables and accrued liabilities (276,665) (64,846)

Text removed vs the prior filing · source: 10-Q · 2026-05-12

• Shares Amount Shares Amount capital receivables deficit Total

• Net Cash Provided by (Used in) Operating Activities 385,085 (81,193)

• Proceeds from exercise of pre-funded warrants and placing agent warrants 601,500 -

• Cash and cash equivalents include cash at bank and demand deposits which have original maturities less than three months and are unrestricted as to withdrawal or use. As of March 31, 2026 and December 31, 2025, the Company had cash of $17,519,830 and $28,668,169, respectively.

• Periodically, the Company may maintain cash and cash equivalent balances at financial institutions in excess of applicable insured or protected limits. The amount in excess of the Federal Deposit Insurance Corporation insurance limits or Securities Investor Protection Corporation insurance limits as…