0001493152-26-023524
SEC filingNet loss improved significantly due to a smaller net loss and favorable working capital changes, while revenue remained relatively flat.
Net loss for the quarter was $893.3K, an improvement of 36.8% from a net loss of $1.4M in the prior year period. The improvement was primarily driven by a smaller net loss and favorable changes in working capital, including a decrease in prepaid expenses, stock-based compensation, and accrued expenses.
Diluted loss per share improved to $0.29 from $0.47 in the prior year period, reflecting the narrower net loss.
Cash used in operating activities was $147.1K for the three months ended March 31, 2026, compared to $436.6K in the prior year period. The decrease in cash used was primarily due to the smaller net loss and favorable working capital changes.
Management continues to seek ways to reduce debt and leverage by improving operating performance and through other means available to the Trust. The Trust is not presently party to any legal proceedings that it believes would have a material adverse effect on its business, prospects, financial condition, liquidity, results of operations, cash flows, or capital levels.