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• Solana is like a faster, cheaper Ethereum, built for scalable decentralized applications.
• Solana is like the Amazon Web Services (AWS) for decentralized applications, providing scalable infrastructure for Web3.
• Solana aims to be the 'Visa' of the blockchain world, processing high volumes of transactions at low cost.

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Solana's Major Products and Services:

• Solana Blockchain Platform: A high-performance, open-source blockchain network designed for scalability and speed to support decentralized applications and crypto projects.
• SOL Cryptocurrency: The native digital currency of the Solana network, used for transaction fees, staking to secure the network, and participation in governance.
• Developer Ecosystem & Tools: Providing a robust set of SDKs, APIs, and documentation to empower developers to build and deploy decentralized applications on the Solana network.

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It appears there might be a misunderstanding regarding the entity you've specified. The decentralized blockchain platform Solana does not have a traditional stock symbol like "HSDT" as it is not a publicly traded company in the conventional sense. "HSDT" is not associated with Solana.

Solana is an open-source, public blockchain network. As such, it does not have "major customers" in the way a traditional public company does, nor does it "sell" products to specific entities. Instead, it serves as a foundational platform for a decentralized ecosystem. Its primary participants or users can be categorized as:

• Developers: These are individuals or teams who build and deploy decentralized applications (dApps), smart contracts, and NFTs on the Solana blockchain. They leverage Solana's infrastructure to create innovative products and services.
• Validators: Entities or individuals who operate validator nodes. They play a crucial role in securing the network, processing transactions, and maintaining the integrity of the blockchain.
• End-users of dApps: Individuals who interact with the decentralized applications built on Solana, participate in DeFi protocols, trade NFTs, or use other services offered within the Solana ecosystem.

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Dane Andreeff, President, Chief Executive Officer & Director

Dane Andreeff has served as President and Chief Executive Officer of Solana Company (formerly Helius Medical Technologies, Inc.) since June 2021, and as Interim President and CEO since August 2020. He has been a member of the company's Board of Directors since August 2017. Mr. Andreeff is the founder of Maple Leaf Partners, LP, a hedge fund established in 1996, where he served as General Partner and Portfolio Manager until 2018. This fund was initially seeded by Julian Robertson's Tiger Management and managed assets exceeding $2 billion. He is also the founder and managing member of Andreeff Equity Advisors, LLC, established in 1996. Mr. Andreeff has managed investment portfolios for Andreeff Equity, LP, Andreeff Overseas Ltd, and Clover Partners, LP since 1996. His early career involved work as an associate analyst at Furman Selz and Granite Capital International Group. He currently holds directorships at TraceSecurity Inc, HDL Therapeutics, Inc, and Myocardial Solutions, Ltd. Solana Company itself was formed in partnership with Pantera and Summer Capital, indicating backing from these investment firms.

Jeffrey Mathiesen, Chief Financial Officer, Treasurer, Secretary & Director

Jeffrey Mathiesen was appointed Chief Financial Officer of Solana Company (then Helius Medical Technologies, Inc.) in June 2021, having previously served as a member of Helius' Board of Directors and Chair of its Audit Committee from June 2020 to June 2021. He is recognized as an accomplished senior executive and director with extensive experience across public and privately held companies in various sectors, including biopharmaceutical, medical device, semiconductor capital equipment, and water filtration markets. Mr. Mathiesen has held numerous CFO positions at companies such as Delphax Technologies, Inc., Zareba Systems, Inc. (2009-2010), Micro Component Technology, Inc., Nuwellis, Inc. (2013-2015), and Gemphire Therapeutics, Inc. (2015-2018). [cite: 13 in previous turn] He also served as director and audit committee chair of NeuroOne Medical Technologies Corporation since 2017. Mr. Mathiesen earned a B.S. in Accounting from the University of South Dakota and is a Certified Public Accountant (Inactive).

Joseph Chee, Executive Chairman

Joseph Chee is the Executive Chairman of Solana Company. He founded Summer Capital in 2017, where he served as Chairman. Mr. Chee is also the Vice Chairman of AMINA Bank AG. Before establishing Summer Capital, he had a distinguished career as an investment banker in the Asia Pacific region, joining UBS Asia in 2000 from Citigroup in New York. At UBS, he held key leadership roles including Asian Head of Investment Banking and Head of Global Capital Markets, where he was instrumental in building UBS's significant presence in China. He holds a Doctorate Degree from a joint program of Tsinghua University and the University of Geneva, an EMBA from Tsinghua, an MBA from NYU Stern, and a Bachelor's degree in Mechanical Engineering from Stevens Institute of Technology.

Dr. Antonella Favit-Van Pelt, Chief Medical Officer

Dr. Antonella Favit-Van Pelt serves as the Chief Medical Officer of Solana Company. She is a board-certified neurologist with a Ph.D. in Pharmacology and brings over two decades of drug development expertise from both the pharmaceutical industry and academia. Dr. Favit-Van Pelt founded Synaerion Therapeutics in 2013 and its affiliate Thera Neuropharma, Inc. in 2016, both privately held biotechnology companies focused on regenerative therapy and RNAi-based platforms for ALS and traumatic brain injury. She served as CEO, President & Chairwoman of the Board for these companies from 2014 to 2017 and continues in her roles as President & Chairwoman. In 2009, she also founded StratMedica, LLC, a privately held company that provided contract senior management support to corporate clients, and as Principal from 2009 to 2016, she directed clinical development and medical programs for various healthcare companies, including Johnson & Johnson and Teva. Her career in the pharmaceutical industry includes leadership positions at Shire Pharmaceuticals, Bristol-Myers Squibb, GE Healthcare, Lundbeck, Luitpold, and Piramal Imaging. She commenced her clinical practice in 1994 in Europe, specializing in movement disorders and rare neuromuscular disorders.

Lawrence Picciano, Senior Vice President of Engineering, Quality & Regulatory Affairs

Lawrence Picciano holds the position of Senior Vice President of Engineering, Quality & Regulatory Affairs at Solana Company.

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1. Severe Financial Distress and Unprofitability: The company has demonstrated consistent unprofitability, reporting annual losses of -$11.74 million in 2024, a 32.7% increase from the previous year, with quarterly net income also deeply negative at −$559.14K. Its earnings per share (EPS) for the trailing twelve months stand at −$1,267.04, and forward EPS estimates remain significantly negative at −$253.50. Furthermore, the company's total liabilities significantly outweigh its total assets, with a total liabilities to total assets ratio of 132.02%. Revenue has also seen a decline, with 2024 revenue decreasing by 19.25% to $520,000.
2. Extreme Stock Price Depreciation and Market Volatility: Solana Company's stock (HSDT) has experienced a precipitous decline, falling by 99.12% over the last year. It has also seen significant short-term volatility, with a 34.87% fall over the last month and a 19.38% decrease compared to the previous week. The stock's 52-week range highlights extreme fluctuations, from a high of $1,200.00 to a low of $2.83, indicating a high degree of market instability and loss of investor confidence.
3. Risks Associated with Niche Medical Device Development and Unconventional Cryptocurrency Investments: Operating as a specialty medical device company focused on the development and regulatory approval of a non-invasive neurostimulation device, HSDT faces inherent risks related to research and development success, regulatory hurdles, and market adoption within a highly specialized sector. Compounding this, the company has engaged in unconventional financial strategies for a medical device firm, notably announcing a $175 million purchase of Solana (SOL) cryptocurrency. This introduces significant exposure to the volatile and speculative cryptocurrency market, a risk atypical for its core business and capable of further destabilizing its financial position amidst regulatory uncertainties and market fluctuations common to digital assets.

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Regulatory Classification as an Unregistered Security: The increasing regulatory scrutiny, particularly from the U.S. Securities and Exchange Commission (SEC), poses a clear emerging threat. The SEC has intensified its enforcement actions, classifying many cryptocurrencies (excluding Bitcoin and in some cases Ethereum) as unregistered securities. A definitive classification of SOL as a security would severely limit its availability on major exchanges, restrict institutional adoption, and complicate its legal and operational framework, particularly in the United States, thereby undermining its market liquidity and growth prospects.

Erosion of Performance Advantage by Competing Layer 1 Blockchains and Ethereum Layer 2 Solutions: Solana's core value proposition has historically been its high transaction throughput and low fees. However, the rapid maturation and adoption of Ethereum's Layer 2 scaling solutions (e.g., Arbitrum, Optimism, zkSync) are increasingly offering comparable or superior performance at competitive costs, while leveraging Ethereum's established security and decentralization. Concurrently, other high-performance Layer 1 blockchains (e.g., Sui, Aptos, Avalanche), often backed by significant funding and experienced teams, are actively competing for developer talent and user bases, directly challenging Solana's market share and technological edge.

Persistent Network Instability and Outages: Solana has experienced several significant network outages and performance degradations since its launch. While the core team has implemented fixes and upgrades, the recurrence of these incidents raises concerns about network reliability and resilience. In a highly competitive blockchain ecosystem, sustained and frequent instability can erode developer and user trust, leading to projects and capital migrating to more dependable platforms, thereby hindering long-term adoption and ecosystem growth.

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The public company Solana (symbol: HSDT) is an entity distinct from the Solana blockchain platform (SOL). Solana Company (HSDT) operates as a "preeminent SOL Treasury Company" whose primary service is to acquire Solana (SOL) and maximize SOL per share, thereby offering public market investors direct exposure to the long-term growth potential of the Solana ecosystem. Consequently, the addressable markets for Solana (HSDT) are intrinsically linked to the underlying Solana blockchain's main products and services, which include decentralized applications (dApps), Decentralized Finance (DeFi), Non-Fungible Tokens (NFTs), and broader Web3 initiatives.

Addressable Markets for Solana (HSDT)'s Main Products and Services:

1. Blockchain Technology Market

• The global blockchain technology market size was estimated at USD 31.28 billion in 2024 and is projected to reach USD 1,431.54 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 90.1% from 2025 to 2030.
• Another projection estimates the global blockchain market to grow from USD 32.99 billion in 2025 to USD 393.45 billion by 2030, at a CAGR of 64.2%.
• North America is a dominant region in the blockchain technology market, accounting for a 37.4% share of the global revenue in 2024.

2. Decentralized Finance (DeFi) Market

• The global Decentralized Finance (DeFi) market size was valued at USD 20.48 billion in 2023, poised to grow from USD 30.06 billion in 2024 to USD 648.43 billion by 2032, with a CAGR of 46.8% during the forecast period (2025-2032).
• Another report values the global DeFi market size at USD 20.76 billion in 2024, with an expectation to reach USD 637.73 billion by 2032, at a CAGR of 53.56% over the forecast period 2025-2032.
• North America held a significant share of the global DeFi market, with 37% of the revenue in 2023 and 36.32% in 2024.

3. Non-Fungible Token (NFT) Market

• The global non-fungible token market size was estimated at USD 26.9 billion in 2023 and is projected to reach USD 211.7 billion by 2030, growing at a CAGR of 34.5% from 2024 to 2030.
• Another estimate indicates the NFT market was valued at 1.89 USD billion in 2024 and is projected to grow to 35 USD billion by 2035, with a CAGR of 30.39% from 2025 to 2035.
• North America dominated the non-fungible token market with a share of 31.64% in 2023.

4. Web3 Market

• The global Web 3.0 market size was estimated at USD 2.25 billion in 2023 and is projected to reach USD 33.53 billion by 2030, growing at a CAGR of 49.3% from 2024 to 2030.
• Another projection for the Web3 market indicates a value of USD 3.47 billion in 2025, on track to reach USD 41.45 billion by 2030, expanding at a 45.15% CAGR.
• North America dominated the Web 3.0 market in 2023, accounting for a global revenue share of 37.3%, and held the largest market share in 2024. North America also led with a 39.6% revenue share in 2024.

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Solana Company (symbol: HSDT) is a public company operating as a digital asset treasury dedicated to acquiring Solana (SOL) and channeling liquidity into the Solana ecosystem. Its future revenue growth over the next 2-3 years is expected to be driven by several key factors related to the underlying Solana blockchain and its native token, SOL:

1. Appreciation in the market value of Solana (SOL) holdings: As a digital asset treasury, a core driver of Solana Company's financial performance will be the increase in the market price of the Solana (SOL) tokens it holds.

2. Increased adoption and network activity on the Solana blockchain: Solana Company aims to strengthen network security and fuel on-chain activity by channeling liquidity into the Solana ecosystem. Growth in user engagement, transaction volumes, and overall utilization of the Solana blockchain for various purposes, including decentralized applications (dApps) and meme coins, directly enhances the value and utility of the SOL token, thereby benefiting HSDT's holdings.

3. Expansion of decentralized finance (DeFi) and consumer applications built on Solana: The ongoing development and success of DeFi protocols, non-fungible token (NFT) platforms, gaming, and other consumer-facing applications leveraging Solana's fast and low-cost infrastructure are crucial. This expansion fosters a vibrant ecosystem that drives demand for blockspace and the SOL token, which in turn positively impacts Solana Company.

4. Strategic partnerships and institutional integration within the Solana ecosystem: Solana's expanding ecosystem benefits from strategic collaborations, such as integrations with institutional crypto exchanges. Increased institutional confidence and broader adoption of Solana's infrastructure, including its stablecoin ecosystem, can lead to greater liquidity and market depth, driving further adoption and enhancing the value of HSDT's investments.

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Share Repurchases

• Solana Company's Board of Directors approved an open-ended stock repurchase program on November 5, 2025.
• The authorization allows for the repurchase of up to $100 million of the company's outstanding common stock.

Outbound Investments

• Solana Company (HSDT) operates as a digital asset treasury primarily dedicated to acquiring and holding Solana (SOL) tokens.
• In October 2025, the company expanded its Solana treasury by adding approximately 100,000 SOL, valued at about $20 million.
• This addition brought Solana Company's total SOL holdings to more than 2.3 million tokens.