BHPA Inc (BHPA)

[molee]

Excerpt from said filing :

Note 6 – Subsequent events
On January 19, 2024, the Board of Directors of the BHPA agreed as a result of ongoing operating losses to evaluate its accounts receivable and its investment in Filecoin. As a result January 19, 2024 agreement, the Company concluded that indicators of other-than temporary impairment were present related to collection of its accounts receivable and the investment in Filecoin as of December31,2023,and upon closing. Upon analysis of the accounts receivable and its Filecoin investment, BHPA determined that other-than temporary impairment did exist and recorded a $1,930,342 ($866,065 + $1,064,277) non-cash impairment charge on January19, 2024.Theimpairments were determined based on combining the fair value of consideration received for all transactions contemplated. On January 19, 2024, Wen Jie Wu and two other related parties agreed to forgive their non interest bearing loans owed tothemof$675,002,$11,009 and $20,000, respectively. The Company’s management evaluated subsequent events through the date the financial statements were issued and there were no subsequent events to report.