NXTT — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-24

• The following tables provide a comparison of a summary of our results of operations for the six months ended June 30, 2026 and 2025. We are a “smaller reporting company” as defined by Item 10(f)(1) of Regulation S-K, and are providing scaled MD&A disclosures pursuant to Regulation S-K. Management ha…

• For the six months ended June 30, 2026 and 2025, we generated total revenue of $1.3 million and nil, respectively. This increase was primarily attributable to revenue recognized from two commercial customer agreements during the period, covering the smart water-system management sector and AI-relate…

• As of June 30, 2026 and December 31, 2025, we did not have any capital commitments.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• The following tables provide a comparison of a summary of our results of operations for the three months ended March 31, 2026 and 2025.

• For the three months ended March 31, 2026 and 2025, we generated total revenue of $0.47 million and nil, respectively. The increase in the 2026 period primarily reflects revenue recognized under a single commercial customer agreement with a customer in the smart water-system management sector. We ha…

Text added vs the prior filing · source: 10-Q · 2026-07-24

• We are a “smaller reporting company” as defined by Item 10(f)(1) of Regulation S-K, and as such are not required to provide the information contained in this item pursuant to Item 305 of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• Our primary market risk exposure is the risk of fluctuation in the fair value of our bitcoin holdings due to changes in the market price of bitcoin. As of March 31, 2026, we held approximately 5,833 bitcoins with a carrying value of approximately $389.6 million, based on a bitcoin price of approxima…

• Under ASC 350-60 (as amended by ASU 2023-08), which the Company adopted effective January 1, 2024, our bitcoin holdings are measured at fair value at each reporting date, with unrealized gains and losses recognized in net income in the period in which they occur. As a result, our financial results a…

• Bitcoin is a highly volatile asset. Its price is influenced by a variety of factors outside of our control, including supply and demand dynamics, regulatory developments across multiple jurisdictions, macroeconomic conditions, activity of large holders, investor sentiment, and the general performanc…

• The table below illustrates the hypothetical impact on the fair value of our bitcoin holdings and on our pre-tax net income as of and for the three months ended March 31, 2026, of certain assumed changes in the price of bitcoin, holding all other variables constant:

• Hypothetical Change in Bitcoin Price Hypothetical Fair Value of Bitcoin Holdings Hypothetical Increase (Decrease) in Fair Value Hypothetical Pre-Tax Net Income Impact

Text added vs the prior filing · source: 10-Q · 2026-07-24

• The conclusion that our disclosure controls and procedures were not effective was due to deficiencies in the design and operation of controls supporting the accurate accumulation, summarization, and communication to management of information required to be disclosed in our filings, arising from: (i)…

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• Management Report on Internal Control Over Financial Reporting

• Our management is responsible for establishing and maintaining adequate internal control over financial reporting. Our internal control system is a process designed to provide reasonable assurance to management and to the Board regarding the preparation and fair presentation of published financial s…

• Our internal control over financial reporting includes policies and procedures that pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect transactions and dispositions of assets; provide reasonable assurances that transactions are recorded as necessary to pe…

• Our management assessed the effectiveness of our internal control over financial reporting as of March 31, 2026. In making this assessment, our management used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) in Internal Control - Integrated Fra…

• Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of…