Business Overview
The company is in a pre-revenue or minimal revenue stage with no operations during the three months ended March 31, 2026, compared to $2,183 in revenue in the prior year period. Management is devoting substantially all efforts to developing the company's business and raising capital. The company decreased general and administrative expenses by 32% to $359,463 in Q1 2026 compared to Q1 2025, primarily through reductions in product development and professional services.
Forward Guidance
"We plan to fund our operations with our cash on hand and additional financing." The company notes its ability to continue operations "is dependent on management's plans" and states "We are devoting substantially all of our efforts to developing the Company's business and raising capital and there can be no assurance that our efforts will be successful."
Key Risk Factors
The company faces substantial doubt about its ability to continue as a going concern, with a working capital deficiency of $4.7 million, current liabilities of $5.1 million against current assets of only $331,050, and accumulated deficit of $13.4 million. The company has minimal cash reserves ($288,858) relative to monthly operating costs of approximately $12,000 and undiscounted debt obligations of $1.3 million due within one year. The company's continued existence is dependent on developing profitable operations and successfully raising additional capital, with no assurance of success.
