Quarterly ResultApr 30, 2026, 08:19 AM
ANKM Q1 Net Loss $(203K); No Revenue; Going Concern Warning
AI Summary
Ankam, Inc. reported a net loss of $(203,118) for the three months ended February 28, 2026, a substantial increase from $(10,581) in the same period last year, with no revenue generated during the quarter. The company's cash balance significantly declined to $1,794, and total liabilities rose to $634,844. Management issued a going concern warning, citing limited revenues, ongoing losses, and insufficient working capital, indicating dependence on future investment capital.
Key Highlights
- Net loss for the three months ended February 28, 2026, increased to $(203,118) from $(10,581) year-over-year.
- Revenue for the quarter was $0, a significant decrease from $75,000 in the prior year period.
- Cash balance decreased to $1,794 as of February 28, 2026, from $131,710 as of November 30, 2025.
- Total liabilities increased to $634,844 as of February 28, 2026, from $574,813 as of November 30, 2025.
- The company issued a going concern warning due to limited revenues, incurred losses, and limited working capital.
- Mei Sheng Corporation Limited accounted for 93.52% of total consolidated expense for the quarter.
- The company owed its sole director $475,970 for unpaid operating advances as of February 28, 2026.
- Professional fees significantly increased to $150,000 from $932 year-over-year.