Statement of Changes in Beneficial Ownership (Form 4)

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * Jiang Cosmo Yi 2. Issuer Name and Ticker or Trading Symbol Solana Co [HSDT] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O SOLANA COMPANY, 1650 MARKET STREET, SUITE 3600 3. Date of Earliest Transaction (Month/Day/Year) 09/18/2025 (Street) PHILADELPHIA, PA 19103 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Warrant (Right to Buy)

$0.001

09/18/2025

A

1,005,040

(1)(2)

09/18/2030

Common Stock

1,005,040

$ 0

1,005,040

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Jiang Cosmo Yi C/O SOLANA COMPANY 1650 MARKET STREET, SUITE 3600 PHILADELPHIA, PA 19103	X

Signatures

/s/ Cosmo Yi Jiang		06/04/2026
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On September 18, 2025, Pantera Capital Management LP ("Pantera") transferred the warrant to the Reporting Person pursuant to that certain Warrant Transfer Agreement, dated as of September 18, 2025 (the "Warrant Transfer Agreement"), by and among the Issuer, Pantera and the Reporting Person. The warrant vests as to 25% of the shares on March 18, 2026; the remaining 75% of the shares shall vest in equal monthly installments on the last day of each month over the following thirty-six (36) calendar months, in each case subject to the Reporting Person providing continuous service to the Pantera on each such vesting date.
(2)	Notwithstanding the foregoing, the number of vested shares on each subsequent March 31, June 30, September 30 and December 31, shall be equal to the greater of (x) the then vested amount, and (y) the Exercise-based Catch-Up Amount (as that term is defined in the Warrant Transfer Agreement), provided that in no event shall the cumulative number of vested warrant shares reported herein exceed 100% of the warrant shares reported herein.

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