{"url_path":"/sec/nxb/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/2067767/0001493152-26-023128-index.html","accession_number":"0001493152-26-023128","cik":"0002067767","ticker":"NXB","issuer_name":"NextBoat Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/2067767/0001493152-26-023128-index.html","primary_entity_key":"0002067767","primary_entity_name":"OFF THE HOOK YS 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iso4217:USD\n\nxbrli:shares\n\niso4217:USD\n\nxbrli:shares\n\nxbrli:pure\n\nOTH:Integer\n\nOTH:Segment\n\n \n\n \n\n \n\n**UNITED\nSTATES**\n\n**SECURITIES\nAND EXCHANGE COMMISSION**\n\n**Washington,\nDC 20549**\n\n \n\n**FORM\n10-Q**\n\n \n\n(Mark\nOne)\n\n \n\n☒\nQUARTERLY\nREPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor\nthe Quarterly Period Ended March 31, 2026\n\n \n\nor\n\n \n\n☐\nTRANSITION\nREPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934\n\n \n\nFor\nthe Transition Period from ______ to ______\n\n \n\nCommission\nFile Number: 001-42930\n\n \n\n**Off\nThe Hook YS Inc.**\n\n(Exact\nname of registrant as specified in its charter)\n\n \n\nNevada\n \n33-2636992\n\n(State\nor other jurisdiction\n\nof\nincorporation or organization)\n\n \n\n(I.R.S.\nEmployer\n\nIdentification\nNo.)\n\n \n\n1701\nJel Wade Drive\n\nWilmington,\nNC 28401\n\n \n\n(Address\nof principal executive offices) (Zip code)\n\n \n\n(910)-239-9344\n\n(Registrant’s\ntelephone number, including area code)\n\n \n\nSecurities\nregistered pursuant to Section 12(b) of the Securities Exchange Act of 1934:\n\n \n\nTitle of each\nclass\n \nTrading Symbol(s)\n \nName of each\nexchange on which registered\n\nCommon Stock, par value\n$0.001 per share\n \nOTH\n \nNYSE\nAmerican LLC\n\n \n\nIndicate\nby check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange\nAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)\nhas been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No\n\n \n\nIndicate\nby check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule\n405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant\nwas required to submit such files). ☒ Yes ☐ No\n\n \n\nIndicate\nby check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting\ncompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”\n“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n☐\nAccelerated filer\n☐\n\nNon- accelerated filer\n☒\nSmaller reporting company\n☒\n\n \n \nEmerging growth company\n☒\n\n \n\nIf\nan emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying\nwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate\nby check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No\n\n \n\nThe\nnumber of shares of the registrant’s common stock, par value $0.001 per share, outstanding as of May 8, 2026 was 24,355,000 shares.\n\n \n\n \n\n \n\n \n\n \n\n \n\n**Off\nThe Hook YS Inc.**\n\n** **\n\n**Table\nof Contents**\n\n \n\n[PART I. FINANCIAL INFORMATION](#vr_001)\n4\n\n[Item 1. Financial statements](#vr_002)\n4\n\n[Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 2025](#vr_003)\n4\n\n[Condensed Consolidated Statements of Operations (Unaudited) for the three months ended March 31, 2026 and 2025](#vr_004)\n5\n\n[Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) for the three months ended March 31, 2026 and 2025](#vr_005)\n6\n\n[Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended March 31, 2026 and 2025](#vr_006)\n7\n\n[Notes to Condensed Consolidated Financial Statements (Unaudited)](#vr_007)\n8\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#vr_008)\n22\n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#vr_009)\n29\n\n[Item 4. Controls and Procedures](#vr_010)\n29\n\n[PART II. OTHER INFORMATION](#vr_011)\n30\n\n[Item 1. Legal Proceedings](#vr_012)\n30\n\n[Item 1A. Risk Factors](#vr_013)\n30\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#vr_014)\n30\n\n[Item 3. Defaults Upon Senior Securities](#vr_015)\n30\n\n[Item 4. Mine Safety Disclosures](#vr_016)\n30\n\n[Item 5. Other Information](#vr_017)\n30\n\n[Item 6. Exhibits](#vr_018)\n31\n\n[SIGNATURES](#vr_019)\n32\n\n \n\n2\n\n \n\n \n\nCAUTIONARY\nNOTE ABOUT FORWARD-LOOKING STATEMENTS\n\n* *\n\n*This\nQuarterly Report on Form 10-Q (this “Quarterly Report”) contains forward-looking statements within the meaning of the federal\nsecurities laws concerning our business, operations and financial performance and condition, as well as our plans, objectives and expectations\nfor our business operations and financial performance and condition. Any statements contained herein that are not statements of historical\nfacts may be deemed to be forward-looking statements. In some cases, you can identify forward-looking statements by terminology such\nas “aim,” “anticipate,” “assume,” “believe,” “contemplate,” “continue,”\n“could,” “due,” “estimate,” “expect,” “goal,” “intend,” “may,”\n“objective,” “plan,” “predict,” “potential,” “positioned,” “seek,”\n“should,” “target,” “will,” “would” and other similar expressions that are predictions\nof or indicate future events and future trends, or the negative of these terms or other comparable terminology. These forward-looking\nstatements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry\nin which we operate and management’s beliefs and assumptions and are not guarantees of future performance or development and involve\nknown and unknown risks, uncertainties and other factors that are in some cases beyond our control. Although we believe that the expectations\nreflected in the forward-looking statements contained herein are reasonable, our actual results and the timing of selected events may\ndiffer materially. Factors that may cause actual results to differ materially from current expectations include, among other things,\nthose listed under “Risk factors” in Part II, Item 1A of this Quarterly Report and elsewhere in this Quarterly Report. Potential\ninvestors are urged to consider these factors carefully in evaluating the forward-looking statements. These forward-looking statements\nspeak only as of the date of this Quarterly Report. Except as required by law, we assume no obligation to update or revise these forward-looking\nstatements for any reason, even if new information becomes available in the future.*\n\n** **\n\n3\n\n \n\n** **\n\n**PART\nI. FINANCIAL INFORMATION**"}