Hugoton Royalty Trust declares no May 2026 distribution; units moved to Expert Market; going concern doubt

HUGOTON ROYALTY TRUST

No cash distribution for May 2026 due to excess costs on all three conveyances; no distributions since July 2023.
Trust units removed from OTCQB and now trade on Expert Market (unsolicited quotes only) as of July 17, 2026.
Cumulative excess costs: Kansas $3.237M, Oklahoma $14.044M, Wyoming $12.188M (including accrued interest).
Trustee does not foresee any distributions in near term; going concern doubt; may seek termination or sale of assets.
Trust has not filed Q1 2026 10-Q; no auditor engaged due to cash constraints; unitholders could lose entire investment.

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