NTRP — what changed in the latest 10-Q

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

• The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosures, in the …

• The critical accounting estimates addressed below reflect our most significant judgments and estimates used in the preparation of our financial statements. Except as described below, there have been no material changes to our critical accounting estimates from those disclosed in our Annual Report on…

• The Company recognizes revenue in accordance with ASC 606 which involves identifying the contracts with customers, identifying performance obligations in the contracts, determining transaction price, allocating transaction price to the performance obligation and recognizing revenue when the performa…

• The Company recognizes revenue from travel packages when the customer has purchased the product and the performance obligation is satisfied, which occurs at the earlier of the date of travel or the date on which the customer’s cancellation period has expired. Revenue for customer travel packages pur…

• For certain travel products, primarily luxury hotel bookings made through Five Star Alliance, the supplier or wholesaler controls pricing and provides the travel service, and the Company’s performance obligation is to arrange for the travel product to be provided by the supplier. In these arrangemen…

Text removed vs the prior filing · source: 10-Q · 2026-07-15

• Launch of NTH’s leisure travel booking platform by either (i) achieving $1,000,000 in cumulative sales under its historical “phase 1” business, or (ii) commencement of its marketing program under its enhanced “phase 2” business. As of a date six months after the closing date 1,450,000 Contingent Sha…

• Launch of NTH’s group travel booking platform and signing of at least five (5) entities to use the Groups Platform. As of a date nine months from the closing date (or earlier date six months after the closing date) 1,450,000 Contingent Shares Achieved. Five groups have been contracted to use the Gro…

• Launch of NTH’s Travel Agent Platform and signing up of at least 100 travel agents to the platform (which calculation includes individual agents of an agency that signs up on behalf of multiple agents). As of a date 12 months from the closing date (or earlier date six months after the closing date) …

• Commercial launch of PayDlay technology in the NXT2.0 system. As of a date 15 months after the closing date (or earlier date six months after the closing date) 1,650,000 Contingent Shares, less the Exchange Shares issued at the closing of the Acquisition Achieved. PayDlay has been commercially launc…

• The Contingent Shares, together with the shares of our common stock issued at the closing, was not to exceed 6,000,000 shares of our common stock, or approximately 90.2% of our issued and outstanding shares of common stock immediately prior to closing.

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

• On August 6, 2025, the Company acquired all of the issued and outstanding membership interests of TA Pipeline LLC ("TA") from its members pursuant to a Membership Interest Purchase Agreement (the "TA MIPA"). As partial consideration, the Company issued 96,774 restricted shares of its common stock (t…

• On July 14, 2026, Luis Barberi, Mitch Toren, and Ashish Tembe, the former members of TA (the "Claimants"), commenced a binding arbitration proceeding against the Company by filing a Demand for Arbitration with the American Arbitration Association (the "AAA") under its Commercial Arbitration Rules. T…

• On September 3, 2026, the Claimants filed an Amended Statement of Claim adding a claim that the Company breached Sections 2.2(b) and 2.3(c)(i) of the TA MIPA by failing to pay the Milestone Payment, which the Claimants allege became due no later than August 16, 2026. The Claimants allege that TA gen…

• The Company has not repurchased the TA Closing Shares or paid the Milestone Payment because it believes the Claimants are in material breach of the TA MIPA. On September 9, 2026, the Company filed its Answer and Counterclaim, in which it denies liability and asserts affirmative defenses including pr…

• An evidentiary hearing in the arbitration is scheduled for January 21, 2027. The arbitration remains at an early stage, and the Company is unable to predict its outcome. The Company believes it has meritorious defenses and intends to defend against the Claimants' claims and to pursue its counterclai…

Text removed vs the prior filing · source: 10-Q · 2026-07-15

• On July 13, 2026, Luis Barberi, Mitch Toren, and Ashish Tembe, the former members of TA Pipeline LLC, filed a Demand for Arbitration against the Company with the American Arbitration Association, to be conducted in Las Vegas, Nevada. The claim asserts breach of the Membership Interest Purchase Agree…

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

• As of August 31, 2026, we had $ 1,145,136 in cash and a working capital deficit of $3,195,601, and our operating activities used $4.8 million of cash during the six months then ended. Our existing cash and anticipated revenues are not sufficient to fund our operations, and we estimate that we will r…

Text removed vs the prior filing · source: 10-Q · 2026-07-15

• As of May 31, 2026, we had $803,490 in cash and a working capital deficit of $1,599,429. Our existing cash on hand and anticipated revenues are not sufficient to fund our anticipated operating costs. We will need to raise additional financing to fund our operations, maintain compliance with the Nasd…