Quarterly ResultMay 13, 2026, 03:16 PM
CoJax Oil & Gas Q1 Revenue $112K, Net Loss $(266K); Going Concern Doubt
AI Summary
CoJax Oil & Gas Corp reported a significant decline in financial performance for the first quarter of 2026, with revenue falling to $112,076 from $338,222 in the prior year period. The company's net loss widened to $(265,959) from $(144,806) in Q1 2025, resulting in a basic and diluted net loss per share of $(0.02). Management also expressed substantial doubt about the company's ability to continue as a going concern due to ongoing losses and dependence on future financing.
Key Highlights
- Q1 2026 revenue decreased to $112,076 from $338,222 in Q1 2025.
- Q1 2026 net loss widened to $(265,959) from $(144,806) in Q1 2025.
- Basic and diluted net loss per share was $(0.02) in Q1 2026, up from $(0.01) in Q1 2025.
- Company disclosed substantial doubt about its ability to continue as a going concern.
- Cash increased to $91,056 at March 31, 2026, from $77,219 at December 31, 2025.
- Total current liabilities increased to $1,422,517 at March 31, 2026, from $1,183,826.
- Total assets decreased slightly to $9,567,275 at March 31, 2026, from $9,583,036.
- No acquisitions were executed during the three months ended March 31, 2026.