IHT posts $1.4M loss, takes UniGen writedown, breaches Albuquerque loan covenant

Filed May 19, 2026 · Period ending January 31, 2026 · Compared to 10-K May 1, 2025 · ~2 min read

Key Changes

• high

  Company recorded $223K impairment on UniGen clean-energy investment and reclassified $1.1M Albuquerque mortgage to current liability after covenant breach; total equity swung to negative $998K from positive $645K.

  Notes: UniGen impairment, Albuquerque covenant breach, equity deficit verify on EDGAR →
• high

  IHT officers assumed full control of UniGen board and executive roles in February 2026 after mass resignations; company plans to increase management influence over UniGen and IBC investments in FY2027.

  MD&A: UniGen management transition; Controls: investment oversight verify on EDGAR →
• high

  Hotel occupancy rose 2.4 points to 77% but average daily rate fell $4.12 (4.1%) to $95.57, resulting in 1% revenue-per-room decline; total revenue flat at $7.6M despite 'record or near high' performance claims.

  MD&A: Occupancy, ADR, REVPAR verify on EDGAR →