Hammer Fiber Optics Reports Zero Revenue and Significant Losses for Three and Nine Months Ended April 30, 2025

Hammer Fiber Optics Holdings Corp. reported its financial results for the three and nine months ended April 30, 2025, revealing a significant decline in revenue and ongoing operational challenges. The company generated no revenue from continuing operations during the latest quarter, a decrease from $420 in the same period last year. For the nine months ended April 30, 2025, revenue remained at zero, compared to $420 for the same period in 2024. The company’s total operating expenses for the three months were $381,875, down 10.26% from $425,549 in the prior year, primarily due to reduced professional and corporate expenses.

The company reported a net loss from continuing operations of $386,010 for the three months ended April 30, 2025, an improvement from a loss of $640,660 in the same period last year. For the nine-month period, the net loss from continuing operations was $1,078,523, compared to a loss of $1,263,651 in the previous year. The reduction in losses was attributed to lower interest expenses and a significant decrease in financing expenses, which fell from $164,525 to zero in the latest quarter.

In terms of strategic developments, Hammer Fiber Optics has shifted its focus towards its fintech initiatives following the divestiture of its telecommunications assets to Viper Networks, Inc. on November 1, 2024. This transaction involved the return of 2,500,000 shares of the company's common stock valued at $625,000. The company is now concentrating on its HammerPay mobile payments platform, which aims to facilitate digital commerce in developing markets.

Operationally, Hammer Fiber reported a working capital deficiency of $3,305,822 as of April 30, 2025, an improvement from $3,791,880 at the end of the previous fiscal year. The company had total current assets of $32,064, a decrease from $206,266, while total current liabilities decreased from $3,998,146 to $3,337,886. The company’s cash position improved to $26,704, up from zero at the end of the previous fiscal year, primarily due to financing activities.

Looking ahead, Hammer Fiber Optics Holdings Corp. faces substantial doubt regarding its ability to continue as a going concern, as it has consistently incurred losses and has no current revenue from its operations. The company will need to secure additional financing to sustain its operations and pursue its business development goals. Management has indicated that it will continue to seek funding through debt or equity financing to support its ongoing initiatives.