Hammer Fiber Optics Holdings Corp. 10-Q Filing
Ticker: HMMR · Form: 10-Q · Filed: Aug 26, 2024 · CIK: 1539680
| Field | Detail |
|---|---|
| Company | Hammer Fiber Optics Holdings CORP (HMMR) |
| Form Type | 10-Q |
| Filed Date | Aug 26, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, company-filing
Related Tickers: HMMR
TL;DR
**HAMMER FIBER OPTICS HOLDINGS CORP (HMMR) FILED 10-Q FOR PERIOD ENDING 04/30/2024. CHECK FINANCIALS.**
AI Summary
Hammer Fiber Optics Holdings Corp. filed a 10-Q for the period ending April 30, 2024. The company, formerly known as Tanaris Power Holdings Inc., is incorporated in Nevada and operates in the communication services sector. Their business address is in Sarasota, Florida.
Why It Matters
This filing provides investors with an update on the company's financial performance and operational status for the specified quarter.
Risk Assessment
Risk Level: medium — As a publicly traded company filing a 10-Q, there are inherent risks associated with financial reporting and market performance.
Key Numbers
- 20240430 — Reporting Period End Date (Indicates the end of the fiscal quarter covered by the report.)
- 20240826 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- HAMMER FIBER OPTICS HOLDINGS CORP (company) — Filer
- Tanaris Power Holdings Inc. (company) — Former Company Name
- Sarasota, Florida (location) — Business Address
- 0001539680 (company) — Central Index Key
- 001-35876 (company) — SEC File Number
FAQ
What is the primary business of Hammer Fiber Optics Holdings Corp?
Hammer Fiber Optics Holdings Corp. operates in the COMMUNICATION SERVICES, NEC sector, as indicated by its SIC code [4899].
When was the company formerly known as Tanaris Power Holdings Inc.?
The company's name was changed from Tanaris Power Holdings Inc. on March 10, 2015.
What is the fiscal year end for Hammer Fiber Optics Holdings Corp?
The company's fiscal year ends on July 31st.
What is the SEC file number for Hammer Fiber Optics Holdings Corp?
The SEC file number for Hammer Fiber Optics Holdings Corp. is 001-35876.
What is the business address of the company?
The business address is 6151 Lake Osprey Drive, Sarasota, FL 34240.
Filing Stats: 4,484 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-08-26 14:17:31
Key Financial Figures
- $0.001 — e 63,155,947 shares of the registrant's $0.001 par value common stock issued and 61,40
Filing Documents
- form10q.htm (10-Q) — 1118KB
- exhibit31-1.htm (EX-31.1) — 6KB
- exhibit31-2.htm (EX-31.2) — 6KB
- exhibit32-1.htm (EX-32.1) — 2KB
- exhibit32-2.htm (EX-32.2) — 3KB
- 0001062993-24-015637.txt ( ) — 6778KB
- hmmr-20240430.xsd (EX-101.SCH) — 69KB
- hmmr-20240430_cal.xml (EX-101.CAL) — 36KB
- hmmr-20240430_def.xml (EX-101.DEF) — 190KB
- hmmr-20240430_lab.xml (EX-101.LAB) — 786KB
- hmmr-20240430_pre.xml (EX-101.PRE) — 310KB
- form10q_htm.xml (XML) — 1209KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION ITEM 1.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 4 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 23 ITEM 3.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 26 ITEM 4.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 27
OTHER INFORMATION
PART II. OTHER INFORMATION ITEM 1.
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS 27 ITEM 1A.
RISK FACTORS
RISK FACTORS 27 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 27 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 27 ITEM 4. MINING SAFETY DISCLOSURES 27 ITEM 5. OTHER INFORMATION 27 ITEM 6. EXHIBITS 28
SIGNATURES
SIGNATURES F-2 HAMMER FIBER OPTICS HOLDING CORP. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) April 30, July 31, 2024 2023 ASSETS Current Assets Cash and cash equivalents $ 90,204 $ 66,688 Accounts receivable 344,942 238,820 Security deposits 7,316 7,316 Prepaid expenses 14,063 18,675 Total current assets 456,525 331,499 Property and equipment, net 61,862 89,712 Intangible assets 7,439,858 7,406,827 Total assets $ 7,958,245 $ 7,828,038 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued expenses $ 1,137,418 $ 1,205,995 Notes payable 145,135 92,693 Convertible notes payable 682,000 612,000 Convertible notes payable - related parties 1,372,593 738,600 Warrant liabilities 148,500 195,750 Unissued Stock - 105,925 Deferred Revenue 149,640 172,900 Current liabilities from discontinued operations 545,993 545,994 Total current liabilities 4,181,279 3,669,858 Total Liabilities $ 4,181,279 $ 3,669,858 Commitments and contingencies Stockholders' Equity Common stock, $ 0.001 par value, 250,000,000 shares authorized 63,155,947 and 62,205,947 shares issued; 61,402,612 and 60,452,612 shares outstanding at April 30, 2024 and July 31, 2023, respectively $ 63,156 $ 62,206 Additional paid-in capital 28,007,940 27,808,440 Accumulated deficit ( 24,294,130 ) ( 23,712,466 ) Total Stockholder's Equity 3,776,966 4,158,180 Total Liabilities and Stockholders' Equity $ 7,958,245 $ 7,828,038 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. F-4 HAMMER FIBER OPTICS HOLDING CORP. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the Three Months Ended For the Nine Months Ended April 30, April 30, 2024 2023 (as restated) 2024 2023 (as restated) Revenues $ 770,412 $ 767,527 $ 2,5