Executive Summary
The 12 filings for June 17, 2026, paint a starkly polarized picture of the US equity market. On one hand, Smith & Wesson Brands (SWBI) stands out as a beacon of operational strength, reporting a 10.4% YoY revenue increase and a dramatic swing to $114.2M in operating cash flow from a negative $7.2M, signaling robust demand in its handgun segment.
On the other hand, the majority of filings—from pre-revenue biotechs like Odyssey Therapeutics and VitaSpring Biomedical to struggling tech firms like Skkynet Cloud and Kindcard—reveal a landscape of cash burn, widening losses, and deteriorating balance sheets. A critical portfolio-level trend is the prevalence of 'mixed' sentiment (6 out of 12 filings), indicating that even companies with top-line growth are facing margin compression or rising costs. The most critical development is the near-total absence of forward-looking guidance, insider trading activity, and capital allocation events across the dataset, which severely limits the ability to build a catalyst calendar or gauge management conviction. The market implication is clear: investors must exercise extreme caution, favoring companies with proven cash flow generation (like SWBI) while avoiding the high-risk, cash-burning entities that dominate this batch of filings.
Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →
Filing types in this digest: 10-K · 10-Q
Tracking the trend? Catch up on the prior US Earnings Financial Results SEC Filings digest from June 10, 2026.
Investment Signals (12)
- Smith & Wesson Brands (SWBI) (BULLISH)▲
Net sales grew 10.4% YoY to $523.8M, driven by an 18.8% surge in handgun sales ($394.4M). Net income jumped 37.7% to $18.5M, and operating cash flow swung sharply positive to $114.2M from negative $7.2M in FY2025. This is a clear sign of operational turnaround and strong cash generation.
- Smith & Wesson Brands (SWBI) (BEARISH)▲
Despite strong top-line growth, gross margin remained flat at 26.9%, well below the 29.5% achieved in FY2024. This indicates persistent cost pressures or pricing headwinds that are capping profitability.
- Innovative Designs Inc (IVDN) ↓ (BULLISH)▲
For the six-month period, revenue grew 8.6% to $1,440,867 and net income rose 18.1% to $267,701, showing a positive underlying trend despite a weak Q2.
- Innovative Designs Inc (IVDN) ↓ (BEARISH)▲
Q2 net income fell 48.1% YoY to $106,060, driven by a 42.7% surge in SG&A expenses. This sudden cost escalation is a major red flag for near-term profitability.
- Odyssey Therapeutics ↓ (BEARISH)▲
Net loss per share improved dramatically to ($6.77) in Q1 2026 from ($39.37) in Q1 2025, driven by a significant increase in weighted-average shares outstanding (5.66M vs 0.98M). This is a dilution-driven improvement, not operational progress.
- Skkynet Cloud Systems ↓ (BULLISH)▲
Deferred revenue rose 37.1% to $476,797 from $347,686, indicating a growing backlog of future revenue that could support a turnaround.
- Skkynet Cloud Systems ↓ (BEARISH)▲
Revenue declined 18.3% YoY for the six months, and the company swung to a net loss of $335,901 from a net income of $1,340 in the prior-year period. The core business is contracting.
- Kindcard, Inc. ↓ (BULLISH)▲
Cash flow from operations improved, using $21,554 versus $36,809 in the prior year, a 41.4% reduction in cash burn.
- Kindcard, Inc. ↓ (BEARISH)▲
Revenue declined 13.3% to $74,175, and total liabilities ($1,240,775) significantly exceed total assets ($60,148), resulting in a deepened stockholders' deficit of ($1,180,627). The company is effectively insolvent.
- Somitos Corp. ↓ (BULLISH)▲
The company reported its first-ever revenues of $8,442, a milestone from zero revenue in the prior period, indicating early-stage commercialization.
- Somitos Corp. ↓ (BEARISH)▲
Net loss widened dramatically to ($72,693) from ($6,215), and the company remains in a stockholders' deficit of ($31,408). The cash burn rate is accelerating relative to revenue generation.
- ▲
Revenue dropped to $0 from $50,000 in the prior year, a 100% decline, while the company continues to operate with a stockholders' deficit of $2,802,549. The business model appears to have failed.
Risk Flags (10)
- VitaSpring Biomedical / Cash Runway↓ [HIGH RISK]▼
The company has no revenue in any period reported and an accumulated deficit of $5,696,871. Cash balance is a mere $2,084 against current liabilities of $4,445,244, making it critically dependent on related-party financing.
- Kindcard / Insolvency Risk↓ [HIGH RISK]▼
Total liabilities ($1,240,775) exceed total assets ($60,148) by a factor of 20x. The stockholders' deficit deepened to ($1,180,627), and the company is burning cash with no clear path to profitability.
- Odyssey Therapeutics / Cash Burn↓ [HIGH RISK]▼
Cash and cash equivalents declined 14.3% to $35.7M from $41.7M at year-end 2025, while cash used in operations increased 6.2% to $41.0M. At this burn rate, the company has less than one year of cash runway.
- Skkynet Cloud / Revenue Decline↓ [MEDIUM RISK]▼
Revenue declined 18.3% YoY, driven by a 25.7% drop in product sales. The company swung to a net loss, and accounts receivable increased 53.8%, suggesting potential collection issues or aggressive revenue recognition.
- Innovative Designs / SG&A Surge↓ [MEDIUM RISK]▼
Q2 operating income fell sharply due to a 42.7% surge in SG&A expenses. If this cost increase is structural, it will continue to pressure margins.
- Somitos Corp / Widening Loss↓ [HIGH RISK]▼
Net loss widened to ($72,693) from ($6,215), while total liabilities are more than double total assets. The company is in a stockholders' deficit and relies on related-party loans for financing.
- ▼
Revenue dropped to $0 from $50,000, and the company has a stockholders' deficit of $2,802,549. Professional fees dropped from $46,000 to $350, suggesting a near-complete cessation of business activity.
- Smith & Wesson Brands / Margin Compression↓ [MEDIUM RISK]▼
Gross margin remained flat at 26.9%, well below the 29.5% achieved in FY2024. Interest expense increased 4.1% YoY to $4.8M, up from $2.1M in FY2024, indicating rising debt costs.
- ▼
The company has zero revenue across all periods reported and continues to rely on related-party advances. The business model has not generated any commercial traction.
- Charlton Aria Acquisition Corp / SPAC Risk↓ [MEDIUM RISK]▼
As a SPAC, the company has a medium risk level and materiality of 6/10. Without specific operational metrics or a target, it carries inherent execution and time-bound risk.
Opportunities (9)
- Smith & Wesson Brands / Cash Flow Catalyst↓ (OPPORTUNITY)◆
Operating cash flow swung sharply positive to $114.2M from negative $7.2M in FY2025. This massive cash generation could be used for debt reduction, share buybacks, or dividend increases, creating a potential catalyst for the stock.
- Skkynet Cloud / Deferred Revenue Backlog↓ (OPPORTUNITY)◆
Deferred revenue rose 37.1% to $476,797, indicating a growing backlog of future revenue. If the company can convert this backlog and stabilize its product sales, it could signal a turnaround.
- Innovative Designs / Six-Month Growth Trend↓ (OPPORTUNITY)◆
For the six-month period, revenue grew 8.6% and net income rose 18.1%. If the Q2 SG&A surge is a one-time event, the underlying business is showing positive momentum.
- Odyssey Therapeutics / Reduced Operating Expenses↓ (OPPORTUNITY)◆
Operating expenses decreased 3.2% to $39.8M, and net loss slightly improved. If the company can secure additional funding or a partnership, the reduced cost base could extend its runway.
- Somitos Corp / First Revenue Milestone↓ (OPPORTUNITY)◆
The company reported its first-ever revenues of $8,442, a significant step from zero. If this revenue stream grows, it could validate the business model and attract further investment.
- Kindcard / Improved Cash Flow↓ (OPPORTUNITY)◆
Cash flow from operations improved by 41.4% YoY. If this trend continues, the company could reduce its reliance on external financing and slow the deterioration of its balance sheet.
- VitaSpring Biomedical / Reduced Net Loss↓ (OPPORTUNITY)◆
The company's net loss improved 46.4% in its 10-K and 5.8% in its most recent 10-Q. If cost-cutting measures continue, the company could slow its cash burn rate.
- ◆
Operating expenses decreased 24.3% to $164,228, and professional fees dropped sharply. If the company can find a new revenue stream, the leaner cost structure could lead to profitability.
- Smith & Wesson Brands / Handgun Demand↓ (OPPORTUNITY)◆
Handgun sales surged 18.8% to $394.4M, driving overall revenue growth. If this trend continues, it could offset the decline in long-gun sales and support further margin improvement.
Sector Themes (6)
- Cash Burn vs. Cash Generation (CROSS-CUTTING)◆
The filings reveal a stark divide. Smith & Wesson generated $114.2M in operating cash flow, while Odyssey Therapeutics, Skkynet Cloud, Kindcard, and VitaSpring collectively burned over $50M in cash. This highlights the market's preference for cash-generating businesses over cash-burning entities.
- Pre-Revenue Biotech Struggles (CROSS-CUTTING)◆
Odyssey Therapeutics and VitaSpring Biomedical both have zero or negligible revenue and are burning cash. This theme underscores the high-risk nature of pre-commercial biotech, especially in a rising interest rate environment where funding is scarce.
- Micro-Cap Distress (CROSS-CUTTING)◆
Somitos Corp, Kindcard, Skkynet Cloud, and Electronic Servitor Publication Network are all micro-cap companies with widening losses, declining revenues, or insolvent balance sheets. This suggests a broader trend of distress in the micro-cap space, where companies are struggling to achieve scale or profitability.
- Margin Pressure Despite Revenue Growth (CROSS-CUTTING)◆
Smith & Wesson and Innovative Designs both reported revenue growth but experienced margin compression or cost surges. This indicates that even companies with top-line growth are facing input cost inflation or competitive pressures that are eating into profits.
- Lack of Forward-Looking Guidance (CROSS-CUTTING)◆
Across all 12 filings, there is a notable absence of forward-looking statements, guidance, or targets. This lack of visibility makes it difficult for investors to assess future performance and increases uncertainty, particularly for the cash-burning entities.
- Reliance on Related-Party Financing (CROSS-CUTTING)◆
Somitos Corp and VitaSpring Biomedical both rely heavily on related-party loans and advances for financing. This is a red flag for corporate governance and financial sustainability, as it indicates an inability to access arms-length capital markets.
Watch List (8)
- Smith & Wesson Brands / Earnings Call↓ (HIGH PRIORITY)👁
The company's next earnings call will be key to discuss the sustainability of the handgun demand surge and any plans for the $114.2M in operating cash flow (e.g., buybacks, dividends). Watch for guidance on gross margin improvement.
- Odyssey Therapeutics / Cash Runway↓ (HIGH PRIORITY)👁
With less than one year of cash runway, the company will likely need to raise capital or secure a partnership. Watch for any announcements regarding financing, licensing deals, or clinical trial results.
- Skkynet Cloud / Revenue Conversion↓ (MEDIUM PRIORITY)👁
Watch for the company's ability to convert its growing deferred revenue backlog ($476,797) into recognized revenue. Any signs of stabilization in product sales would be a positive catalyst.
- Kindcard / Balance Sheet Deterioration↓ (HIGH PRIORITY)👁
With total liabilities exceeding total assets by 20x, watch for any signs of restructuring, debt renegotiation, or equity infusion. A failure to address the balance sheet could lead to bankruptcy.
- Innovative Designs / SG&A Rationalization↓ (MEDIUM PRIORITY)👁
Watch for the company's explanation of the 42.7% surge in SG&A expenses in Q2. If this is a one-time investment, the stock could recover; if structural, margins will remain under pressure.
- VitaSpring Biomedical / Funding News↓ (HIGH PRIORITY)👁
The company has minimal cash ($2,084) and relies on related-party financing. Watch for any announcements of new funding, partnerships, or a reverse merger to stay afloat.
- Somitos Corp / Revenue Growth Trajectory↓ (MEDIUM PRIORITY)👁
The company reported its first-ever revenues. Watch for the next filing to see if this revenue stream is growing or if it was a one-time event.
- Electronic Servitor Publication Network / Business Viability↓ (HIGH PRIORITY)👁
With zero revenue and a stockholders' deficit, watch for any announcement of a new business line, acquisition, or dissolution. The company appears to be a shell.
Filing Analyses
(12)
17-06-2026
Somitos Corp. filed its 10-K annual report for the fiscal year ended May 31, 2026, reporting its first-ever revenues of $8,442 but a significantly widened net loss of ($72,693) compared to ($6,215) in the prior period. Cash and cash equivalents increased substantially to $45,167 from $4,589, financed largely through related-party loans and additional paid-in capital. However, the company remains in a stockholders' deficit of ($31,408), with accumulated deficit growing to ($78,908) and total liabilities more than double total assets.
- · The company was incorporated on March 5, 2025, making this only its second reporting period.
- · Intangible assets, net decreased from $42,000 to $33,600, reflecting $8,400 in amortization expenses.
- · Related party loan increased from $46,504 to $51,717, providing $5,213 in financing during FY2026.
- · Deferred revenue of $16,458 was recognized for the first time in FY2026, indicating prepayments from customers.
- · No income tax expense was recorded in either period due to full valuation allowance against deferred tax assets.
- · Net loss per share (basic and diluted) was ($0.00) for both periods due to rounding.
- · The company qualifies as an Emerging Growth Company under the JOBS Act, with annual revenues below $1.07 billion and less than $700 million public float.
17-06-2026
17-06-2026
Smith & Wesson Brands, Inc. (SWBI) filed its 10-K for fiscal year 2026, reporting a 10.4% YoY increase in net sales to $523.8M, driven by an 18.8% surge in handgun sales ($394.4M). Net income jumped 37.7% to $18.5M. However, long-gun sales continued to decline, falling 13.0% to $90.5M, and gross margin remained essentially flat at 26.9%, well below the 29.5% achieved in FY2024. Operating income grew 22.3% to $29.2M but was still significantly lower than the $47.1M reported two years ago.
- · Interest expense increased 4.1% YoY to $4.8M, up from $4.6M in FY2025 and $2.1M in FY2024.
- · Income tax expense rose 13.2% to $6.6M, but the effective tax rate fell from 30.2% to 26.3%.
- · Cash flow from operations swung sharply positive to $114.2M from negative $7.2M in FY2025.
- · The company has a Second Amended and Restated Credit Agreement with TD Bank, N.A. dated October 3, 2024, and a First Amendment to that agreement dated August 15, 2025.
- · The Registrant has an Employment Agreement (and amended version) with Mark P. Smith.
- · Several agreements with American Outdoor Brands, Inc. remain in effect (Transition Services, Tax Matters, Employee Matters, Trademark License).
- · A Project Agreement exists with The Industrial Development Board of Blount County, Tennessee.
17-06-2026
Odyssey Therapeutics reported a net loss of $38.3M for Q1 2026, slightly improved from a $38.4M loss in Q1 2025, as operating expenses decreased 3.2% to $39.8M. However, the company had zero collaboration revenue in Q1 2026 versus $1.9M in the prior-year period, and cash and cash equivalents declined 14.3% to $35.7M from $41.7M at year-end 2025, reflecting continued cash burn.
- · Net loss per share improved to ($6.77) in Q1 2026 from ($39.37) in Q1 2025, driven by a significant increase in weighted-average shares outstanding (5.66M vs 0.98M).
- · Cash used in operating activities increased 6.2% to $41.0M in Q1 2026 from $38.6M in Q1 2025.
- · Total cash, cash equivalents, and restricted cash decreased to $39.2M at March 31, 2026 from $44.9M at December 31, 2025.
- · The company had no long-term marketable securities at March 31, 2026, compared to $35.2M at December 31, 2025.
- · Stock-based compensation expense was $2.6M in Q1 2026, down from $3.0M in Q1 2025.
- · Goodwill decreased 1.8% to $14.1M due to foreign currency translation.
- · Intangible asset, net decreased 38.9% to $0.2M due to amortization and foreign currency translation.
- · Contingent consideration and warrant liability increased slightly to $6.2M from $6.1M.
- · Deferred offering costs of $1.6M were included in accounts payable and accrued expenses as of March 31, 2026.
17-06-2026
Skkynet Cloud Systems reported mixed results for the six months ended April 30, 2026. Revenue declined 18.3% YoY to $1,155,499, driven by a 25.7% drop in product sales, though support revenue grew 5.1%. The company swung to a net loss of $335,901 from a net income of $1,340 in the prior-year period, with operating expenses rising 16.4% and cash used in operations of $280,443 versus cash provided of $100,616. However, the company secured a $166,773 long-term loan and reported a tax refund of $146,232, partially offsetting the operating loss.
- · Operating loss for the three months ended April 30, 2026 was $269,896, compared to a loss of $194,693 in the same quarter last year, a 38.6% increase in operating loss.
- · Accounts receivable increased 53.8% to $579,612 as of April 30, 2026 from $376,830 at October 31, 2025.
- · Deferred revenue rose 37.1% to $476,797 from $347,686, indicating potential future revenue.
- · The company recorded a $166,773 loan payable during the six-month period, which was not present at October 31, 2025.
- · Stock-based compensation expense increased 129.7% to $125,456 for the six months ended April 30, 2026 from $54,637 in the prior-year period.
- · The company's accumulated deficit grew 5.3% to $6,789,287 from $6,447,576 at October 31, 2025.
- · Cash used in operations was $280,443 for the six months ended April 30, 2026, compared to cash provided by operations of $100,616 in the prior-year period.
- · The company received an income tax refund of $146,232 for the six months ended April 30, 2026, versus a tax expense of $1,240 in the prior-year period.
17-06-2026
Kindcard, Inc. reported a net loss of $62,418 for the quarter ended April 30, 2026, compared to a net loss of $55,064 in the same prior-year period, reflecting a widening loss. Revenue declined 13.3% to $74,175 from $85,591, primarily driven by the elimination of Cash Pickup Commission Revenue and a decrease in Tendercard Program Revenue. Cash flow from operations improved, using $21,554 versus $36,809 in the prior year, but the company's total liabilities ($1,240,775) significantly exceed total assets ($60,148), resulting in a deepened stockholders' deficit of ($1,180,627).
- · Cash decreased from $9,160 (Jan 31, 2026) to $9,140 (Apr 30, 2026) — essentially flat.
- · Total liabilities increased 6.1% from $1,169,622 (Jan 31, 2026) to $1,240,775 (Apr 30, 2026).
- · Accumulated deficit grew from ($1,632,570) to ($1,694,988) in the quarter.
- · Common shares outstanding remained constant at 103,580,799 shares.
- · Intangible assets, net declined from $9,727 to $7,190 due to amortization.
17-06-2026
Innovative Designs Inc. (IVDN) reported net revenue of $808,666 for Q2 FY2026, up 1.5% from $796,369 in Q2 FY2025, and net income of $106,060, a 48.1% decline from $204,188 in the prior-year quarter. For the six-month period, revenue grew 8.6% to $1,440,867 and net income rose 18.1% to $267,701. However, operating income fell sharply in Q2 due to a 42.7% surge in SG&A expenses, and cash and cash equivalents dropped 40.8% from October 2025 to $358,308.
- · Total assets increased 14.6% to $2,536,028 from $2,212,017 at October 31, 2025.
- · Accounts receivable nearly doubled to $661,375 from $344,700 at October 31, 2025.
- · Inventory grew 7.7% to $579,366 from $537,713.
- · Total current liabilities rose 51.2% to $195,848 from $129,538.
- · Long-term shareholder loans were fully repaid, dropping to $0 from $10,000.
- · Accumulated deficit improved to $(9,777,629) from $(10,045,330).
- · Cash used in operating activities was $(126,002) for the six months, compared to $(129,461) in the prior period.
- · No stock sales or share issuances occurred in the current six-month period, versus $40,000 in stock sales and $82,000 in shares for services in the prior period.
- · Depreciation expense increased to $7,646 from $3,811 for the six-month period.
17-06-2026
VITASPRING BIOMEDICAL CO. LTD. reported no revenue for the three and nine months ended October 31, 2025 and 2024, with net losses of $142,518 and $333,904 respectively for the current periods. The company's accumulated deficit increased to $5,615,407 as of October 31, 2025, while total assets rose to $16,465 from $14,378 at January 31, 2025, primarily due to higher cash and prepaid expenses. However, the company continues to rely on related-party advances and has a stockholders' deficit of $4,349,104, indicating ongoing financial challenges.
- · Revenue remained zero for all periods reported.
- · Selling, general and administrative expenses decreased to $135,733 for the three months ended October 31, 2025 from $117,927 in the prior year period, and to $303,947 for the nine months ended October 31, 2025 from $553,420 in the prior year period.
- · Provision for income tax expense was $6,785 for the three months ended October 31, 2025, down from $78,365 in the prior year period.
- · Net cash used in operating activities improved to $2,812 for the nine months ended October 31, 2025 from $12,885 in the prior year period.
- · Net cash provided by financing activities was $4,500 for the nine months ended October 31, 2025, down from $14,934 in the prior year period.
- · Cash at end of period was $1,960 as of October 31, 2025, compared to $2,062 as of October 31, 2024.
- · Stock-based compensation was zero for the nine months ended October 31, 2025, compared to $109,911 in the prior year period.
- · Equipment and vehicle, net decreased significantly from $14,106 to $6,638 due to accumulated depreciation.
- · Accounts payable and other payables increased to $609,352 as of October 31, 2025 from $494,751 as of January 31, 2025.
- · Income tax payable increased to $342,879 as of October 31, 2025 from $313,722 as of January 31, 2025.
17-06-2026
VITASPRING BIOMEDICAL CO. LTD. reported no revenue for the three and six months ended July 31, 2025 and 2024. Net loss narrowed to $110,845 for Q2 2025 from $218,662 in Q2 2024, and to $191,386 for H1 2025 from $435,493 in H1 2024, driven by lower selling, general and administrative expenses. However, the company remains in a stockholders' deficit of $4,206,586 as of July 31, 2025, and cash decreased to $799 from $272 at January 31, 2025, with operating cash flow negative.
- · No revenue generated in any period reported.
- · Stockholders' deficit increased from $4,015,200 (Jan 31, 2025) to $4,206,586 (Jul 31, 2025).
- · Cash provided by financing activities was only $2,500 in H1 2025 vs $11,956 in H1 2024.
- · Depreciation expense remained constant at $4,979 in both H1 periods.
- · No stock-based compensation was recorded in H1 2025, compared to $82,433 in H1 2024.
- · Advances from related party for operating expenses decreased to $104,415 in H1 2025 from $335,998 in H1 2024.
- · Equipment and vehicle, net decreased from $14,106 (Jan 31, 2025) to $9,127 (Jul 31, 2025) due to depreciation.
- · Net loss per share was $0.00 for all periods.
17-06-2026
VITASPRING BIOMEDICAL CO. LTD. reported a net loss of $75,844 for the three months ended April 30, 2026, compared to a net loss of $80,541 in the same period last year, representing a 5.8% improvement. The company generated $6,083 in cash from operations versus a $787 use of cash in the prior year period. However, the company continues to have no revenue, and total assets declined from $14,676 to $11,432, while total liabilities increased slightly from $4,445,244 to $4,517,844.
- · Selling, general and administrative expenses increased from $69,147 to $75,844 YoY, a 9.7% rise.
- · Depreciation expense remained flat at $2,489 in both periods.
- · The company had no revenue in either period, indicating no commercial operations.
- · Accounts payable and other payables increased from $652,027 to $711,641, a 9.1% rise.
- · Advances from related party increased from $1,037,983 to $1,052,351, a 1.4% rise.
- · Equipment and vehicle, net decreased from $4,149 to $1,660, a 60% decline, due to accumulated depreciation and impairment.
- · Net cash provided by operating activities was $6,083 in the current period vs. $787 used in the prior period.
- · No financing activities occurred in the current period; prior period had $515 from advances and bank overdraft.
17-06-2026
VitaSpring Biomedical Co. Ltd. filed its 10-K annual report for the fiscal year ended January 31, 2026, reporting zero revenue for both FY2026 and FY2025. Net loss improved 46.4% to $415,368 from $774,922 in the prior year, driven by a 43.3% reduction in operating expenses to $385,411. However, the company continues to operate with a working capital deficit of $4,434,717, which worsened by 10.1% from $4,029,306, and an accumulated deficit of $5,696,871, reflecting ongoing financial challenges.
- · The company has no revenue and relies on related-party financing: accounts payable to related party of $2,411,000 and advances from related party of $1,037,983.
- · Cash balance increased to $2,084 from $272, but remains minimal relative to current liabilities of $4,445,244.
- · Equipment and vehicle, net decreased to $4,149 from $14,106, indicating asset depreciation or disposal.
- · Income tax payable increased to $344,234 from $313,722.
- · The company has 500,000,000 authorized shares of common stock with $0.0001 par value.
- · The independent registered public accounting firm is PCAOB ID 6723.
17-06-2026
Electronic Servitor Publication Network, Inc. reported a net loss of $170,479 for the three months ended March 31, 2025, compared to a net loss of $173,068 in the same period of 2024, a slight improvement of 1.5%. Revenue dropped to $0 from $50,000 in the prior year, while operating expenses decreased 24.3% to $164,228. The company had cash of $51,176 as of March 31, 2025, down from $54,557 at year-end 2024, and continues to operate with a stockholders' deficit of $2,802,549.
- · Stock-based compensation remained flat at $139,847 in both Q1 2025 and Q1 2024.
- · Professional fees dropped sharply from $46,000 in Q1 2024 to $350 in Q1 2025.
- · General and administrative expenses decreased from $30,970 to $24,031 YoY.
- · Total current liabilities increased slightly to $2,853,725 from $2,847,474 at year-end 2024.
- · Accumulated deficit grew to $7,999,678 from $7,829,199.
- · Net cash used in operating activities improved to $3,381 from $8,470 in the prior year period.
- · The company has a note payable of $2,500,000 and loans payable of $229,630.
- · Weighted average shares outstanding increased to 52,924,668 from 51,728,001 YoY.
- · The company entered into an Asset Purchase Agreement with Phitech Management, LLC and an Agreement and Plan of Merger with Pointward Inc.
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