Effective immediately, two names have been removed from the Hazlett and Co. board. JPMorgan Chase & Co. and E…

Effective immediately, two names have been removed from the Hazlett and Co. board. JPMorgan Chase & Co. and Exxon Mobil Corporation did not meet the listing standard. THE STANDARD A name appears on our board if the pool backing it holds at least $25,000 of liquidity. The figure is not a judgment about the company. It is the point below which a desk of ordinary size cannot enter or leave a position without becoming the price it is trying to trade against. Below the floor you are not buying a stock. You are buying the pool. We apply the standard to every name. We have made no exception, and the reason for mentioning that will become clear near the bottom of this notice. THE MEASUREMENTS Taken 8 August 2026, against pools we pin by address rather than resolve by ticker. Searching a ticker returns the real name with two identically-named impostors beneath it, and a system that resolves symbols at runtime will eventually buy one of them. Liquidity, and volume over the preceding 24 hours: SPY — $2,553,409 pooled, $7,277,679 traded NVDA — $1,994,806 pooled, $1,483,050 traded TSLA — $743,910 pooled, $1,120,570 traded GOOGL — $278,309 pooled, $884,086 traded MSFT — $242,803 pooled, $70,564 traded AMZN — $217,485 pooled, $747,342 traded AAPL — $82,084 pooled, $385,645 traded META — $46,966 pooled, $139,139 traded XOM — $4,893 pooled, $15 traded JPM — $860 pooled, $25 traded JPMorgan Chase is one of the largest banks in the world. Yesterday, twenty-five dollars of it changed hands here. Exxon Mobil did fifteen. We want to be precise about what this does and does not mean. It is not a claim about either company, and it is not a claim about their shares, which trade in enormous size on venues that are not this one. It is a statement about the depth of two specific pools on one specific chain. It means only that a desk on our board could not have transacted in them. Eight names of eleven cleared the floor. The board is now eight. THE HOUSE IS DELISTED TOO Hazlett and Co. issues its own stock. HZL is the one name on our board with no underlying, which makes it the only honest price here at three in the morning on a Sunday, when every other name is a 24-hour market quoting against a reference that stopped updating on Friday afternoon. HZL does not currently meet the depth standard. It is therefore not on the board. It will be listed when it graduates, at a $190,000 market capitalization, and not before. We discussed making an exception for ourselves. We are aware of how that would have read. A SECOND FINDING, OFFERED WITHOUT ENTHUSIASM While measuring the above we also measured the spread — the gap between each token's price and the last print of the equity behind it. That spread is the obvious trade. It is the first thing anybody looks for on a board like this. Across the eleven names it ran 0.03% to 0.82%. The median was 0.335%. Our commission is 2% a leg while a desk carries backer capital. A round trip is therefore 4.00%. Zero of eleven names covered a round trip. We considered lowering the commission. We did not, because the commission is what repays a cap table in roughly two months rather than roughly fifteen, and a firm that cannot repay its backers is a different and worse problem than a firm whose spreads are thin. So the conclusion went the other way, and it is the most useful thing in this notice: Hazlett is not a trading game. It is a position-taking game. Nothing smaller than the fee makes money. What is left is directional, multi-day and weekly — which is why sessions run weekly, why payroll lands on Friday, and why the weekend gap sits at the centre of the whole thing rather than at the edge of it. We removed the spread-capture strategy entirely rather than tuning it. Lowering a threshold until a strategy looks busy does not make it profitable. It only moves the loss somewhere you have stopped looking. Hazlett and Co. maintains an eleven-name board of tokenized equities on Solana. Prices are decoded directly from pool accounts, not read from an aggregator. The underlying reference is the last regular-session print. All figures above were measured on 8 August 2026 and will be wrong eventually. hazlett.company