Hammer Technology Holdings Corp. Liquidation Value

HAMMER TECHNOLOGY HOLDINGS CORP. (HMMR) as of January 31, 2026 presents a deeply negative liquidation posture. Total assets of $182,391 consist almost entirely of cash ($28,312, recoverable at 100%), net intangibles ($153,829 software asset, recoverable at $0 under liquidation haircut), and net PP&E ($250, negligible). Applied recovery haircuts produce a liquidation asset value of approximately $28,312. Against this, total liabilities stand at $1,150,421 at face value: current liabilities of $725,775 include accounts payable and accrued liabilities ($103,004), a defaulted promissory note ($24,253, past due per filing), discontinued-operations AP ($544,533, frozen since FY2020-FY2021, unchanged QoQ), and a derivative warrant liability ($53,985). Non-current liabilities consist of the related-party CGRPE convertible note ($424,646, maturing May 2028). The resulting liquidation deficit to equity is approximately negative $1.12 million, consistent with the MFFAIS CLV/LLV/OLV of negative $697,463 on a working-capital basis (which excludes the non-current debt). Stockholders' equity is already negative $968,030. The company has zero revenue from continuing operations across all reported periods; the HammerPay mobile payments platform has not launched as of the filing date. Operations are entirely funded through related-party convertible debt advances from CGRPE (two directors of the company are also directors of CGRPE), with $338,700 drawn in the current six-month period and $23,500 additional drawn post-period. The $544,533 in discontinued-operations AP is a legacy liability with no offsetting asset on the balance sheet and has been static since at least July 31, 2025, indicating no settlement activity. The $1,888,242 customer contract impairment recognized in FY2025 removed the only tangible intangible asset with potential recovery value; what remains ($153,829 net software) carries zero liquidation value. Disclosure controls are assessed as not effective. Going concern doubt is explicitly stated. No pension, lease, or production commitments disclosed. Filing does not separately tag a going concern footnote in XBRL.