HyOrc Corp

HyOrc Corporation announced that Shinichi Hirano resigned from its Board of Directors, effective May 7, 2026. The company stated that the resignation was by mutual agreement and was not due to any disagreement with the company's operations, policies, or practices, including matters related to accounting or internal controls.

HyOrc Corp has entered into an Equity Purchase Agreement with Lambda Ventures LLC, allowing the company to sell up to $7.5 million of its common stock. Concurrently, HyOrc secured $70,200 through convertible promissory notes issued to Jefferson Street Capital LLC and Lambda Ventures LLC. These financing agreements include the issuance of commitment shares and a registration rights agreement for the shares.

HyOrc Corp. reported a net loss of $689,712 for the second quarter of 2026 and an accumulated deficit of $9,541,906, leading to a substantial doubt about its ability to continue as a going concern. The company generated $24,000 in revenue from commission income. Operational updates include a new partnership with IPG and ongoing efforts to resolve issues with the offline Biliran geothermal plant.

HyOrc Corporation entered into Securities Purchase Agreements with Monroe Street Capital Partners LP and Lambda Ventures LLC, issuing convertible promissory notes with an original principal amount of $135,000. The company received net proceeds of approximately $118,000 after accounting for original issue discounts and legal fees. The notes are convertible into common stock at a discounted price and include the issuance of 250,000 commitment shares to the investors, with up to 8,000,000 shares reserved for potential conversion.

HyOrc Corp reported a net loss of $(84,660) for the three months ended March 31, 2026, a significant increase from the $(23,065) loss in the prior-year period. The company recorded no revenue for Q1 2026, down from $150 in Q1 2025. Cash and cash equivalents increased to $134,736, partly due to $199,979 in subscription money advances. The joint venture with Start Lda has not yet commenced operations, and the Biliran geothermal power plant remains offline due to a legal dispute.

HyOrc Corporation has entered into a Novation and Assignment Agreement, replacing Start Lda with MO.RE.DA. Oils, Lda as its joint venture partner for HyOrc Start Green Fuels, Lda. This Portuguese joint venture is focused on developing waste-to-methanol facilities. MO.RE.DA. Oils will assume all previous obligations and provide an industrial facility with an existing operating permit, which is expected to shorten the project development timeline by allowing a permit amendment process instead of a full greenfield permitting procedure.