{
  "schema_version": "1.0.0",
  "is_sample_record": true,
  "issuer_slug": "meridian-yield-trust",
  "security_slug": "tokenized-note-2026",
  "issuer_legal_name": "Meridian Yield Trust",
  "issuer_address": "2200 Ross Avenue, Floor 12, Dallas, TX 75201, USA",
  "security_name": "Tokenized Senior Note, Series 2026",
  "security_class": "Senior Note",
  "cik": null,
  "exemption": "Reg A",
  "state_of_incorporation": "Texas",
  "transfer_agent": "Equiniti Trust Company, LLC",
  "auditor": "Withum Smith+Brown, PC",
  "legal_counsel": "Katten Muchin Rosenman LLP",
  "business_description": "Meridian Yield Trust acquires and holds performing commercial equipment leases originated by third-party lessors and distributes lease cash flows to noteholders. The trust has no employees; administration is performed under contract by Meridian Asset Administration, LLC.",
  "officers_and_directors": [
    {
      "name": "Helen A. Ortiz",
      "title": "Trustee",
      "since": "2024-02-01"
    },
    {
      "name": "Samuel Beckwith",
      "title": "Principal Financial Officer of the administrator",
      "since": "2024-02-01"
    }
  ],
  "capital_structure_as_of": "2026-06-30",
  "capital_structure": [
    {
      "class_or_series": "Senior Notes, Series 2026",
      "authorized": 50000000,
      "outstanding": 31500000
    },
    {
      "class_or_series": "Trust Certificates (residual)",
      "authorized": 1000,
      "outstanding": 1000
    }
  ],
  "holders_of_record": 1874,
  "holders_of_record_as_of": "2026-06-30",
  "financial_statements": [
    {
      "fiscal_year": "FY2025",
      "fiscal_year_end": "2025-12-31",
      "audited": true,
      "auditor": "Withum Smith+Brown, PC",
      "total_assets": 34200000,
      "total_liabilities": 32050000,
      "revenue": 4120000,
      "net_income": 610000,
      "cash": 1890000,
      "currency": "USD",
      "statement_url": null
    }
  ],
  "auditor_report": {
    "auditor": "Withum Smith+Brown, PC",
    "report_date": "2026-04-02",
    "opinion": "Unqualified",
    "going_concern_qualification": false,
    "going_concern_language": null,
    "adverse_opinion": false,
    "adverse_opinion_language": null,
    "material_weakness": false,
    "material_weakness_language": null,
    "restatement": true,
    "restatement_language": "The FY2024 statement of operations was restated to correct the classification of $310,000 of lease origination fees previously recognized as revenue."
  },
  "tokenized_attributes": {
    "is_tokenized": true,
    "contract_address": "0x8f2a55949038a501f6ba0d7d4bcd6d63a7a1c8ce",
    "network": "Ethereum mainnet (chain ID 1)",
    "token_standard": "ERC-1400 (ERC-20 compatible transfer interface)",
    "onchain_record_role": "Instruction layer — the transfer agent's books remain the master securityholder file",
    "transfer_restriction_enforcement": "On-chain allowlist controlled by the transfer agent; transfers to non-allowlisted addresses revert. Off-chain review precedes each allowlist addition.",
    "holding_period": "12 months from issuance for holders acquiring in the initial distribution",
    "holding_period_expiration_date": "2027-01-15",
    "issuer_freeze_authority": "Issuer, acting through the transfer agent, may freeze individual balances upon court order, regulatory directive, or documented loss of key control.",
    "issuer_burn_authority": "Yes — burn permitted only to effect a redemption or to reverse a demonstrably erroneous issuance.",
    "issuer_reissue_authority": "Yes — reissuance permitted to replace tokens burned for lost-key remediation.",
    "smart_contract_audit_status": "Audited; two medium-severity findings remediated, one informational finding open",
    "smart_contract_auditor": "Trail of Bits",
    "eligible_trading_venues": [
      "INX Securities ATS",
      "Texture Capital ATS"
    ],
    "collateral_or_lending_arrangement": "Noteholders may pledge tokens to Meridian Credit Facility, LLC under a disclosed margin arrangement; pledged tokens are transferred to a custody address and remain subject to the same transfer restrictions."
  },
  "guardd_publication_date": "2026-05-05",
  "last_verified_date": "2026-05-20",
  "next_annual_financials_due_date": "2026-03-31",
  "status": "Update Due",
  "status_note": "Quarterly confirmation for the quarter ended June 30, 2026 has not been received. Annual audited financials for FY2025 were filed after the 90-day deadline.",
  "canonical_url": "https://guardd.com/disclosures/meridian-yield-trust/tokenized-note-2026",
  "json_url": "https://guardd.com/disclosures/meridian-yield-trust/tokenized-note-2026.json"
}