Recent Updates — HYOR
HyOrc Corporation entered into a Settlement Agreement and Mutual Release with Daniel S. McKinney and Coldway Limited, LLC, resolving the lawsuit styled Daniel McKinney v. HyOrc Corporation. The dispute centered on whether McKinney and Coldway were affiliates of the company under Rule 144, which would restrict their ability to transfer or sell securities. Under the terms of the settlement, there is no monetary payment required from either party, and each side bears its own legal fees. McKinney agreed to dismiss the action with prejudice, and both parties released claims against HyOrc and its directors. Additionally, HyOrc instructed its transfer agent to remove the affiliate/control designations for McKinney and Coldway from its records based on their representations that they are not affiliates. This resolves a potential regulatory hurdle regarding share liquidity without impacting the company's financial position. HyOrc Corporation operates in the investment holding sector.
HyOrc Corporation received notice from OnEnergy purporting to discontinue the company's participation in a proposed Bulgarian waste-to-methanol project following an unsuccessful joint grant application. HyOrc disputes the validity of this termination, maintaining that contractual conditions were not met, and has formally challenged OnEnergy’s position while reserving its rights.
HyOrc Corporation entered into a First Amendment to its Promissory Note and Securities Purchase Agreement with GS Capital Partners, LLC on September 13, 2026. The amendment extends the maturity date of the $150,000 note from September 13, 2026, to March 13, 2027. In consideration for this extension, $15,000 was added to the principal balance, bringing the total outstanding debt to $165,000, which continues to accrue interest at 12% per annum. Additionally, 250,000 shares of common stock previously held as returnable shares were permanently transferred to GS Capital, eliminating the company's right to require their return or cancellation. The amendment was effective prior to any Event of Default related to nonpayment on the original maturity date. HyOrc Corporation operates in the energy sector, specifically focusing on oil and gas exploration and production.
Effective May 7, 2026, Shinichi Hirano resigned from the Board of Directors of HyOrc Corporation by mutual agreement. The resignation was not due to any disagreement with the Company regarding operations, policies, or practices, including accounting or internal controls. HyOrc Corporation operates in the energy sector.
On August 3, 2026, HyOrc Corporation entered into Securities Purchase Agreements with Jefferson Street Capital LLC and Lambda Ventures LLC to issue convertible promissory notes. The Company issued $70,200 in aggregate principal amount of Notes for a total purchase price of $65,000, reflecting an original issue discount of $2,600 per Note. Each Note carries a 12% one-time interest charge and matures twelve months from the issue date. Conversion is permitted at 77% of the lowest traded price over the preceding fifteen trading days. The Company issued 250,000 commitment shares to the investors, which are cancellable if notes are repaid within six months. Additionally, HyOrc entered into an Equity Purchase Agreement with Lambda Ventures allowing for up to $7,500,000 in future equity sales via Put Notices at a discount to market price, accompanied by 750,000 initial commitment shares and registration rights.