Hugoton Royalty Trust skips August distribution; going-concern doubt, OTCQB removal

HUGOTON ROYALTY TRUST

No August 2026 cash distribution; no distributions since July 2023 due to excess costs on all three conveyances.
Cumulative excess costs: Kansas $3.289M, Oklahoma $15.058M, Wyoming $12.735M (incl. accrued interest).
Trust filed Form 12b-25 for Q2 10-Q; no auditor engaged due to cash constraints; units removed from OTCQB to Expert Market on July 17, 2026.
Trustee deferred fees since April 2024; financing unlikely; sale or termination requires 80% unitholder approval.
May 2026 underlying sales: 693,000 Mcf gas at $2.80, 13,000 Bbl oil at $100.73.

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