Business
Helio Corporation Continues its Financial Reconstruction and Reports First Quarter Results
Helio Corporation Continues its Financial Reconstruction and Reports First Quarter Results.
About this update from Helio Corporation
[{"type":"text","content":"\r\n\r\n \r\n \r\n Helio Corporation Continues its Financial Reconstruction and Reports First Quarter Results\r\n \r\n \r\n\r\n\r\nHelio Corporation Continues its Financial Reconstruction and Reports First Quarter Results\r\n\r\n\r\n\r\nNewsfile Corp.\r\n\r\n\r\nNewsfile Corp\r\n\r\n\r\nBerkeley, California--(Newsfile Corp. - March 30, 2026) - Helio Corporation (OTC Pink: HLEO) (\"Helio\" or the \"Company\"), a developer of advanced space power and engineering solutions supporting next-generation space infrastructure, today announced that it has filed its Quarterly Report on Form 10-Q (the \"Form 10-Q\") and issued financial results for the quarter ended January 31, 2026.\r\nThe quarter marks a significant inflection point for Helio as the Company accelerates its financial transformation, strengthens its balance sheet, and enhances leadership to support long-term growth. Through decisive actions to reduce debt, attract new capital, and upgrade governance, Helio is emerging with improved financial flexibility and a stronger foundation to advance its Space-Based Solar Power (SBSP) strategy and deliver long-term shareholder value.\r\nSubsequent Events to First Quarter Results\r\nSubsequent events following the first quarter ended January 31, 2026 indicate that Helio has made substantial progress in executing a comprehensive financial restructuring and strengthening its capital position:\r\n\r\n \r\nPAID OFF MERCHANT CASH ADVANCE (MCA) LOANS: Helio extinguished four (4) short-term expensive MCA loans, fully eliminating these obligations and reducing near-term financial pressure.\r\n\r\n \r\nPAID OFF CONVERTIBLE NOTES: Helio paid off two (2) convertible loans, simplifying the Company's capital structure and reducing potential dilution.\r\n\r\n \r\nDEFAULTED NOTES BROUGHT CURRENT: Helio restructured three (3) previously defaulted notes and brought them current, demonstrating proactive liability management and improved financial stability.\r\n\r\n \r\nRAISED PURE EQUITY: Raised approximately $931,000 in equity financing at $1.10 per share, reflecting investor confidence in Helio's strategic direction.\r\n\r\n \r\nADDED NEW TOP FINANCIAL TEAM: Helio appointed a new Chief Financial Officer and engaged a new independent auditor, enhancing financial oversight and governance.\r\n\r\n \r\nThese actions collectively represent a meaningful ste...