HNNA — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-05

• On a total return basis, the Dow Jones Industrial Average was up 14.18% for the nine months ended June 30, 2026. During the most recent quarter, equity prices advanced despite heightened geopolitical risks, predominantly in the Middle East. Strong corporate earnings reports from the first quarter ha…

• Long-term U.S. bond yields rose during the three months ended June 30, 2026. With the unrest in the Middle East and the uncertainty in the Strait of Hormuz, energy prices remain elevated, despite coming down in recent months. These disruptions have given rise to inflation concerns. According to data…

• The Japanese equity market was up 17.24% in U.S. dollar terms over the nine months ended June 30, 2026, as measured by the Tokyo Stock Price Index. During the period, Japanese equities traded higher as the boom in artificial intelligence and semiconductor demand coupled with an accommodative politic…

• Following the redemption of the 2026 Notes, as discussed in Note 8, the principal liability on our balance sheet is the net deferred tax liability of $17.4 million arising from the continued write-off of our management contracts asset for tax purposes, which creates a book-to-tax difference.

• We continually review our capital requirements to ensure that we have funding available to support our business model. Management anticipates that cash and other liquid assets on hand as of June 30, 2026, will be sufficient to meet our capital requirements for one year from the issuance date of this…

Text removed vs the prior filing · source: 10-Q · 2026-05-06

• On a total return basis, the Dow Jones Industrial Average was up 0.71% for the six months ended March 31, 2026. During the most recent quarter, equity prices declined as geopolitical fears coupled with prospective interest rate cuts have seemed to cause investors to reconsider the case for continued…

• Long-term U.S. bond yields rose during the three months ended March 31, 2026. Higher oil and gas prices may portend a higher level of inflation, especially if a resolution with Iran is not reached soon. Before the conflict in the Middle East, inflation remained above the Federal Reserve’s 2% goal bu…

• The Japanese equity market was up 4.69% in U.S. dollar terms over the six months ended March 31, 2026, as measured by the Tokyo Stock Price Index. During the period, Japanese equities traded higher as aggressive corporate governance reforms, a weak yen boosting exporter profits, a return to moderate…

• On October 20, 2021, we completed a public offering of the 2026 Notes in the aggregate principal amount of $40.25 million, which included the full exercise of the underwriters’ overallotment option. The 2026 Notes mature on December 31, 2026, and may now be redeemed in whole or in part at any time o…

• The 2026 Notes are the principal liability on our balance sheet at $40.0 million, net of issuance costs. At December 31, 2025, the 2026 Notes were reclassified from long-term to current as the maturity date is within twelve months.