Hammer Fiber Optics Holdings Corp. Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Hammer Fiber Optics Holdings Corp. filed its Q2 10-Q report, detailing financial information and historical corporate changes.</b>

AI Summary

HAMMER FIBER OPTICS HOLDINGS CORP (HMMR) filed a Quarterly Report (10-Q) with the SEC on March 27, 2024. The company filed a 10-Q report for the period ending January 31, 2024. Hammer Fiber Optics Holdings Corp. was formerly known as Tanaris Power Holdings Inc. and Recursos Montana S.A. The company's fiscal year ends on July 31. The filing includes data related to computer equipment and convertible promissory notes. Key dates mentioned include October 4, 2022, and March 6, 2023, related to securities agreements.

Why It Matters

For investors and stakeholders tracking HAMMER FIBER OPTICS HOLDINGS CORP, this filing contains several important signals. This filing provides investors with an updated view of the company's financial health and operational status for the second quarter of fiscal year 2024. Understanding the historical name changes and the nature of their financial instruments (like convertible notes and warrants) is crucial for assessing the company's evolution and potential future obligations.

Risk Assessment

Risk Level: medium — HAMMER FIBER OPTICS HOLDINGS CORP shows moderate risk based on this filing. The company has a history of name changes and deals with complex financial instruments like convertible notes and warrants, indicating potential financial complexities and risks.

Analyst Insight

Investors should review the detailed financial statements and risk factors within the 10-Q to understand the company's current financial position and future outlook.

Key Numbers

• 2024-01-31 — Period End Date (10-Q filing)
• 2024-03-27 — Filing Date (10-Q filing)
• 0731 — Fiscal Year End (Company data)
• 20150310 — Date of Name Change (Former company name)
• 20120113 — Date of Name Change (Former company name)
• 2022-10-04 — Securities Agreement Date (Related to TalosVictoryFundLlcMember and ConvertiblePromissoryNoteMember)
• 2023-03-06 — Securities Agreement Date (Related to SecuritiesPurchaseAgreementMember)

Key Players & Entities

• HAMMER FIBER OPTICS HOLDINGS CORP (company) — Filer name
• Tanaris Power Holdings Inc. (company) — Former company name
• Recursos Montana S.A. (company) — Former company name
• 2024-01-31 (date) — Period of report
• 2024-03-27 (date) — Filed as of date
• 0001062993-24-007181 (filing_id) — Accession number
• TalosVictoryFundLlcMember (entity) — Related entity
• ConvertiblePromissoryNoteMember (financial_instrument) — Financial instrument type

FAQ

Key Dates

• 2024-01-31: Quarterly Period End — Financial reporting period for the 10-Q
• 2024-03-27: Filing Date — Date the 10-Q was officially filed with the SEC
• 2022-10-04: Convertible Promissory Note Agreement — Key date related to financial instruments
• 2015-03-10: Company Name Change — Historical corporate restructuring event

Key Financial Figures

• $0.001 — e 62,680,947 shares of the registrant's $0.001 par value common stock issued and 60,45

Filing Documents

• form10q.htm (10-Q) — 1246KB
• exhibit31-1.htm (EX-31.1) — 6KB
• exhibit31-2.htm (EX-31.2) — 6KB
• exhibit32-1.htm (EX-32.1) — 3KB
• exhibit32-2.htm (EX-32.2) — 3KB
• 0001062993-24-007181.txt (&nbsp;) — 7010KB
• hmmr-20240131.xsd (EX-101.SCH) — 61KB
• hmmr-20240131_cal.xml (EX-101.CAL) — 40KB
• hmmr-20240131_def.xml (EX-101.DEF) — 187KB
• hmmr-20240131_lab.xml (EX-101.LAB) — 714KB
• hmmr-20240131_pre.xml (EX-101.PRE) — 301KB
• form10q_htm.xml (XML) — 1332KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 5 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 22 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 24 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 25

OTHER INFORMATION

PART II. OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 26 ITEM 1A.

RISK FACTORS

RISK FACTORS 26 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 26 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 26 ITEM 4. OTHER INFORMATION 26 ITEM 5. EXHIBITS 27 2 HAMMER FIBER OPTICS HOLDING CORP. CONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) Special Note Regarding Forward-Looking Statements Information included in this Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"). This information may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Hammer Fiber Optics Holdings Corp. (the "Company"), to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe future plans, strategies and expectations of the Company, are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that these projections included in these forward-looking statements will come to pass. Actual results of the Company could differ materially from those expressed or implied by the forward-looking statements as a result of various factors. Except as required by applicable laws, the Company has no obligation to update publicly any forward-looking statements for any reason, even if new information becomes available or other events occur in the future. Please note that throughout this Quarterly Report, and unless otherwise noted, the words "we," "our," "us," the "Company," "HMMR," or Hammer

View Full Filing

View this 10-Q filing on SEC EDGAR