新地平线航空公司有限公司-2026年季度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). No☒Yes☐ As of January 14, 2026, there were 44,252,749 of the registrant’s Class A ordinary shares, issued and outstanding. TABLE OF CONTENTS PART I—FINANCIAL INFORMATION NEW HORIZON AIRCRAFT LTD.CONDENSED INTERIM CONSOLIDATED BALANCE SHEETS NEW HORIZON AIRCRAFT LTD.NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS NOTE 1. Organization and Nature of Business Organization and Nature of Business New Horizon Aircraft Ltd. (the “Company”, “Horizon”, “we,” “us” or “our”), a British Columbia corporation, with headquarterslocated in Lindsay, Ontario, is an aerospace company. The Company was incorporated on March 11, 2022. The Company is designing and developing a hybrid-electric vertical takeoff and landing (“eVTOL”) prototype aircraft for use in futureregional air mobility (“RAM”) networks. NOTE 2. Going Concern and Liquidity The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accountingprinciples generally accepted in the United States of America (“GAAP”) which contemplates continuation of the Company as a goingconcern and the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred and Horizon is a pre-revenue organization in a research and development and flight-testing phase of operations. While managementestimates that cash and cash equivalents on-hand as of November 30, 2025, will be sufficient to fund our current operating plan for atleast the next 12 months from the date these unaudited condensed interim consolidated financial statements were available to be There can be no assurance that we will be successful in achieving our business plans, that our current capital will be sufficient tosupport our ongoing operations, or that any additional financing will be available in a timely manner or on acceptable terms, if at all. Ifevents or circumstances occur such that we do not meet our business plans, we may be required to raise additional capital, alter, orscale back our aircraft design, development, and certification programs, or be unable to fund capital expenditures. Any such events NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Principles of Consolidation and Financial Statement Presentation The accompanying unaudited condensed interim consolidated financial statements are presented in Canadian dollars in conformitywith GAAP and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). These unauditedcondensed interim consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries, New These unaudited condensed interim consolidated financial statements include all adjustments necessary for the fair presentation of theCompany’s financial position, results of operations, and cash flows for the periods presented. Certain prior period amounts have been There have been no changes to the Company’s significant accounting policies described in Note 3 “Summary of SignificantAccounting Policies” to the audited consolidated financial statements in the Company’s annual report on Form 10-K for the year-ended May 31, 2025, filed with the SEC on August 22, 2025 (the “Annual Report”) that have had a material impact on these unaudited Certain information and footnote disclosures typically included in the Company’s annual audited consolidated financial statements andaccompanying notes have been condensed or omitted in these accompanying unaudited condensed interim consolidated financialstatements and footnotes. Accordingly, these unaudited condensed interim consolidated financial statements should be read in Recent Accounting Standards No recently issued accounting pronouncements have had or are expected to have a material impact on the Company’s unauditedcondensed interim consolidated financial statements. NOTE 4. Balance Sheet Components Property and Equipment, net Property and equipment consist of the following: Depreciation expenses of $57 and $108 for the three and six months-ended November 30, 2025 (November 30, 2024 - $31 and $61)has been recorded in Operating expenses in the unaudited condensed interim consolidated statements of operations. Prepaid Expenses Prepaid Expenses consisted of the following: Accrued Expenses NOTE 5. Segmented Repor