Hammer Technology Holdings Reports No Revenue, Significant Decrease in Operating Expenses for Three and Nine Months Ended April 30, 2026

Hammer Technology Holdings Corp. reported its financial results for the three and nine months ended April 30, 2026, revealing a continued focus on its financial technology initiatives following the divestiture of its telecommunications assets. The company did not generate any revenue during the reported periods, maintaining a consistent trend from the previous year. Total operating expenses for the three months ended April 30, 2026, were $134,785, a significant decrease of 65% compared to $381,875 for the same period in 2025. For the nine months ended April 30, 2026, operating expenses totaled $439,166, down 60% from $1,085,036 in the prior year.

The reduction in operating expenses was primarily attributed to a substantial decrease in depreciation and amortization expenses, which fell by 82% to $31,071 for the three months ended April 30, 2026, compared to $169,023 in the same period last year. This decline was largely due to the full impairment of the customer contract intangible asset recognized in the previous fiscal year. Selling, general, and administrative expenses also decreased by 51% to $103,714, reflecting lower professional fees associated with the company's strategic restructuring.

The company reported a net loss from continuing operations of $95,491 for the three months ended April 30, 2026, a decrease of approximately 75% from a loss of $386,010 in the same period of 2025. For the nine months ended April 30, 2026, the net loss from continuing operations was $397,246, compared to a loss of $1,078,523 in the prior year. The improved loss figures were attributed to lower operating expenses and a non-cash gain on the change in fair value of warrant liabilities.

As of April 30, 2026, Hammer Technology Holdings had total current assets of $17,459 and total current liabilities of $685,843, resulting in a working capital deficiency of $668,384. This represents an improvement from a working capital deficiency of $858,359 as of July 31, 2025, primarily due to a reduction in current liabilities. The company continues to rely on financing from related parties to support its operations, with total liabilities increasing to $1,203,989 from $963,609 in the previous fiscal period.

Looking ahead, Hammer Technology Holdings Corp. faces substantial doubt regarding its ability to continue as a going concern, as it has not generated revenue from continuing operations and has incurred consistent losses. The company is actively seeking additional financing to sustain its operations and is focusing on its HammerPay mobile payments platform to drive future growth. The management's ability to raise capital and control operating expenses will be critical in determining the company's financial stability moving forward.