Quarterly ResultMay 4, 2026, 12:07 PM
Atlantica Q1 Net Loss $(102,071); No Operations, Going Concern Warning
AI Summary
Atlantica Inc. reported a net loss of $(102,071) for the first quarter of 2026, an increase from $(92,850) in the same period last year. The company continues to have no material business operations, no significant assets, and no cash resources. Management has raised substantial doubt about its ability to continue as a going concern, relying on its majority shareholder, Mirabella Holdings, LLC, for operational funding while actively seeking a merger or acquisition with an operating company.
Key Highlights
- Reported a net loss of $(102,071) for the three months ended March 31, 2026, compared to $(92,850) in Q1 2025.
- General and administrative expenses increased to $49,258 in Q1 2026 from $45,756 in Q1 2025.
- Total current liabilities increased to $6,174,191 as of March 31, 2026, from $6,072,120 at December 31, 2025.
- Accumulated deficit reached $(6,299,893) as of March 31, 2026.
- The company reported no cash and no material business operations since March 7, 1997.
- Relies on Mirabella Holdings, LLC for funding, with related party loans totaling $829,659 as of March 31, 2026.
- Accrued management fees of $30,000 to Richland, Gordon & Company for Q1 2026.