Hyperion DeFi HYPD

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

5facts worth reading about the other 3 checks found nothing to note

• report_problem
  Auditor change

  8-K item 4.01 (change in certifying accountant) filed May 2, 2025
• report_problem
  Going concern language

  “These conditions raise substantial doubt about the Company’s ability to continue as a going concern.”
• report_problem
  Late filing notice (NT 10-K or NT 10-Q)

  NT 10-Q filed May 15, 2025: the company said its 10-Q would be late (2 in 2 years)
• report_problem
  Critical audit matters changed

  New this year: F-2
• report_problem
  Material weakness in internal control

  “Due to the existence of this material weakness, our management has concluded that, as of December 31, 2025, our internal control over financial reporting was not effective.”
• check_circle
  No 8-K item 4.02 in the last 2 years

1. add_circleItem 1A · new paragraph · not in the 10-K filed Apr 15, 2025 10-K, ITEM 1Anorth_east

   The Hyperliquid platform and technologies and HYPE have a limited operating history. The Hyperliquid blockchain, exchange and related products launched in early 2023, and the HYPE token launched in November 2024. When we refer to HYPE, we are referring to HYPE tokens and liquid staking tokens derived from HYPE tokens (“LSTs”). We also…

2. add_circleItem 1A · new paragraph · not in the 10-K filed Apr 15, 2025 10-K, ITEM 1Anorth_east

   If we are unable to raise sufficient additional capital on acceptable terms, we may be unable to expand or maintain our HYPE reserve, which could adversely affect our liquidity, financial condition and growth prospects. We completed a private placement of our securities on June 20, 2025, the net proceeds of which have been used for our…

3. add_circleItem 1A · new paragraph · not in the 10-K filed Apr 15, 2025 10-K, ITEM 1Anorth_east

   We may not be able to obtain financing on favorable terms, if at all. If we raise additional funds by issuing equity securities, the percentage ownership of our then current stockholders will be reduced, and the holders of the new equity securities may have rights superior to those of our then existing securityholders, which could…

4. add_circleItem 1A · new paragraph · not in the 10-K filed Apr 15, 2025 10-K, ITEM 1Anorth_east

   As previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, we identified a material weakness in our internal control over financial reporting because the controls associated with evaluating our right-of-use (ROU) assets for potential impairment were not adequately designed or operating…

• ASST334
• NAKA315
• HYPD148
• TRON134
• SUIG133
• LITS4

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.