secwatch.observer — SEC 8-K summary
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Issuer:     New Horizon Aircraft Ltd. (HOVR)
CIK:        0001930021
Form:       8-K/A
Filed at:   2024-02-13T23:59:59+00:00
Accession:  0001213900-24-012712
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Legacy Horizon reports C$1.2M net loss, C$1.2M working capital deficit for six months ended Nov 30, 2023
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- Net loss for six months ended Nov 30, 2023: C$1,156,232, vs C$534,916 loss in prior-year period.
- No revenue; operating expenses of C$1,204,479 driven by R&D and professional fees.
- Working capital deficit of C$1,209,609 as of Nov 30, 2023; accumulated deficit of C$6,707,364.
- Cash increased to C$5.9M from C$228K, primarily from C$6.7M convertible notes issued in Oct 2023.
- Management expresses substantial doubt about ability to continue as a going concern.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1930021/000121390024012712/0001213900-24-012712-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1930021/000121390024012712/ea192960-8ka1_newhorizon.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-012712

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