SHAZ amends Q2 2026 10-Q to correct prior-period EPS, disclose material weakness in controls

Filed August 11, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 6, 2026 · ~2 min read

Key Changes

• high

  Management identified a material weakness in internal controls over accounting for complex financial instruments; company did not maintain effective controls to apply U.S. GAAP appropriately. Remediation underway.

  Disclosure Controls & Procedures view on EDGAR →
• medium

  Amendment corrects Q2 2025 and H1 2025 weighted-average share counts from 1,067,213 to 9,703,042 to reflect December 2025 1-for-50 reverse stock split, adjusting prior-period loss per share from $(2.41) to $(0.27) for Q2 and $(3.76) to $(0.41) for H1. No current-period financial results changed.

  Notes: EPS denominator correction verify on EDGAR →
• high

  Company is substantially dependent on NEXTDC as sole data center provider for 87MW of GPU capacity; construction delays, financial difficulties, or power supply issues at NEXTDC could prevent GPU deployment and revenue generation.

  Risk Factors: NEXTDC dependency view on EDGAR →