Welcome to our dedicated page for Solana Company SEC filings (Ticker: HSDT), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Solana Company (NASDAQ: HSDT) SEC filings page on Stock Titan provides access to the company’s official U.S. regulatory disclosures, including Forms 10-K, 10-Q, 8-K, proxy statements, and other required reports. These documents offer detailed insight into Solana Company’s dual focus as a neurotech medical device issuer and a Solana-centric digital asset treasury.
In its filings, Solana Company describes its operations in the electromedical and electrotherapeutic apparatus manufacturing industry and outlines its orally applied technology platform for neurologic deficits. Quarterly and annual reports, such as the Form 10-K and Form 10-Q, present financial statements, revenue components (including staking rewards and other revenue), operating expenses, research and development costs, and unrealized gains or losses on digital assets.
Current reports on Form 8-K document material events, including the name change from Helius Medical Technologies, Inc. to Solana Company, the adoption of a Solana-focused digital asset treasury, PIPE financings, warrant issuances, stock repurchase authorizations, changes in independent registered public accounting firms, and board and governance developments. Proxy materials on Schedule 14A describe matters submitted to stockholders, such as director elections, equity incentive plan amendments, and approvals related to cryptocurrency-linked warrants.
Stock Titan enhances these filings with AI-powered summaries that highlight key points from lengthy documents, helping readers quickly understand complex items such as derivative liabilities tied to stapled warrants, digital asset treasury activities, or auditor changes. Users can review real-time updates from EDGAR, track quarterly (10-Q) and annual (10-K) reports, and examine Form 4 and related disclosures of insider transactions where available, all supported by concise AI explanations that clarify terminology and context.
Solana Company, formerly known as Helius Medical Technologies, Inc., reported its current capital structure. As of February 20, 2026, the Company has 52,802,604 shares of common stock issued and outstanding. In addition, it has pre-funded warrants outstanding that are exercisable for 23,930,181 shares of common stock.
Polar Asset Management Partners Inc., an Ontario-based investment manager, reported beneficial ownership of Class A common stock of Solana Co. Polar is the investment advisor to Polar Multi-Strategy Master Fund, which directly holds the securities.
Polar reports beneficial ownership of 2,413,279 shares, including 2,179,916 shares issuable upon exercising warrants, representing 5.8% of Solana Co’s Class A common stock as of the event date. Polar has sole voting and dispositive power over these shares and certifies they were acquired and are held in the ordinary course of business, not to change or influence control of Solana Co.
Solana Rocket Holdings Limited and CHUNG Wai Shing have amended their ownership report for Solana Co. They jointly report beneficial ownership of 4,192,186 shares of Class A common stock, representing 9.99% of the company as of December 31, 2025.
The position is made up of 3,529,754 common shares plus pre-funded warrants for up to 10,743,213 shares and cash stapled warrants for up to 14,823,426 shares, all held by Solana Rocket. A “Beneficial Ownership Blocker” prevents them from exercising warrants if it would push their stake above 9.99%.
The 9.99% figure is calculated using 41,301,400 shares outstanding as of November 17, 2025, plus 662,432 shares issuable on partial warrant exercise. Voting and dispositive power over all 4,192,186 shares is reported as shared.
Solana Company (HSDT) reported a transformational Q3 2025 as it pivoted into a Solana token (SOL) treasury strategy funded by large equity and warrant financings. Total assets rose to $475.9 million from $3.5 million at year-end 2024, driven mainly by $350.2 million of SOL at fair value, including $59.1 million of restricted, vesting SOL. The company generated $0.7 million of quarterly revenue, mostly from SOL staking rewards and other income, but recorded a net loss of $352.8 million for the quarter and $366.4 million year-to-date, largely due to non-cash derivative and financing charges tied to newly issued stapled and advisor warrants.
Cash and cash equivalents increased to $124.1 million, and management states that prior going concern doubts have been alleviated based on current liquidity and forecasts. However, the balance sheet now includes a $625.2 million Level 3 derivative liability for 2025 stapled warrants and a large concentration of value in SOL, whose price fell 37% between September 30 and November 17, 2025. Shares outstanding expanded sharply to 41.3 million by mid-November, reflecting reverse splits, offerings, private placements, and warrant exercises, and a $100 million stock repurchase plan was authorized but not yet used.
Solana Company, formerly known as Helius Medical Technologies, Inc., reported that it issued a press release announcing its financial results for the quarter ended September 30, 2025. The release also includes a business update and details for a conference call to discuss these results and recent corporate highlights. This information is provided as Exhibit 99.1 and is furnished, not filed, under the securities laws, meaning it is not automatically incorporated into other SEC filings unless specifically referenced.
Solana Company is registering 155,646,217 shares of common stock for resale by existing investors under a post-effective amendment to its automatic shelf registration. This total includes 38,049,663 already-issued PIPE Shares, 36,261,239 shares underlying pre-funded warrants and 81,335,315 shares underlying other warrants, plus 369,720 additional shares now being registered. All shares may be sold from time to time by the selling stockholders, using various methods such as market sales, block trades or private transactions, and the company will not receive any proceeds from these resales.
The filing describes previously completed PIPE private placements that raised approximately $500 million, with investors paying in cash, stablecoins and Solana tokens, and notes an at-the-market program that permits the company to sell up to $92.8 million of new shares in the future. Solana Company is repositioning around a Solana-centric digital asset treasury strategy while continuing its neurotechnology business built around the PoNS medical device. The risk section highlights potential significant stock price volatility and dilution from future equity issuances, including sales under the ATM program and resales by large selling stockholders.
Solana Company has filed a prospectus supplement to update the list of selling stockholders for an existing resale registration. The registration covers up to 37,679,950 shares of Class A common stock issued in PIPE offerings, 36,261,239 shares of common stock underlying pre-funded warrants with a per share exercise price of $0.001, 73,941,189 shares of common stock underlying stapled warrants with an exercise price of $10.134 per share, and 7,394,119 shares of common stock underlying advisor warrants with a per share exercise price of $0.001. The supplement replaces prior information for certain holders and confirms their beneficial ownership positions. Shares outstanding were 158,071,453 as of November 13, 2025; this is a baseline figure, not the amount being offered.
Solana Company filed a Form 12b-25 (NT 10-Q), stating it cannot file its Q3 2025 Form 10-Q without unreasonable effort or expense. The company plans to file on or before the fifth calendar day following the prescribed due date.
The delay follows the resignation of Baker Tilly US, LLP as independent auditor effective October 15, 2025, and the appointment of CBIZ CPAs P.C. the same day. The company also anticipates significant changes in results for the quarter tied to its PIPE Offerings and adoption of a Solana‑centric Digital Asset Treasury, but it cannot currently quantify the impact.
Solana Company (HSDT) authorized a stock repurchase program of up to
At a special meeting on October 30, 2025, shareholders approved the election of Cosmo Jiang to the Board, and he joined the Board immediately after the meeting. On the same day, Jeffrey S. Mathiesen resigned from the Board; his resignation was not due to any disagreement and coincided with Jiang’s election. Separately, Solana Company (Hong Kong) Limited entered into an Employment Agreement with Joseph Chee effective October 30, 2025.
Solana Company (HSDT) furnished a Form 8-K under Item 7.01 to share investor materials. On November 3, 2025, the company posted an Investor Update to its website and issued a press release. These materials are attached as Exhibit 99.1 (Corporate Presentation, dated November 2025) and Exhibit 99.2 (Press Release, dated November 3, 2025) and are incorporated by reference in the 8-K.
The company states the information is furnished pursuant to Regulation FD and not deemed “filed” for purposes of Section 18 of the Exchange Act. Solana Company, formerly Helius Medical Technologies, Inc., lists its Class A Common Stock under the ticker HSDT on The Nasdaq Stock Market LLC.