Helius Medical Technologies(HSDT) - 2025 Q3 - Quarterly Results

Financial Performance - Solana Company reported third quarter revenue of $697,000, including first-time staking rewards income of $342,000[4] - Total operating expenses for the third quarter of 2025 were $36.0 million, compared to $3.9 million in the prior year period[6] - The net loss for the third quarter of 2025 was $352.8 million, or a loss of $32.89 per basic and diluted common share, compared to a net loss of $3.7 million in the prior-year period[10] Capital and Funding - The company closed a $508 million PIPE transaction on September 18, 2025, and launched an ATM program to raise additional capital[4][7] - Cash and liquidity as of September 30, 2025, included $124 million in cash and $350.2 million of digital assets at fair value, totaling $474.2 million[11] Expenses - Selling, general and administrative expenses increased to $4.6 million from $2.9 million in the prior year, primarily due to a $1.5 million discretionary bonus[5] - Research and development expenses decreased to $0.9 million from $1.1 million in the prior year, driven by reduced clinical trial activities[5] Asset Valuation - An unrealized loss on digital assets of $30.5 million was recorded due to the net change in fair value of digital assets held by the company[5] Product Development - The company announced positive clinical data for the PoNS device, demonstrating its effectiveness in improving gait deficits[7] Strategic Goals - Solana Company aims to maximize SOL per share through strategic use of capital markets and on-chain opportunities[13]