Quarterly ResultJun 22, 2026, 05:17 PM
Concrete Leveling Systems Reports Increased Q3 Net Loss; Going Concern Doubts
AI Summary
Concrete Leveling Systems Inc. reported a net loss of $19,244 for the three months ended April 30, 2026, an increase from $11,709 in the prior year. For the nine-month period, the net loss decreased to $18,382 from $49,208, driven by significantly higher sales. The company continues to face substantial doubt about its ability to continue as a going concern due to significant accumulated losses and current liabilities exceeding current assets by $640,964. The long-pending merger with Jericho Associates, Inc. remains subject to final regulatory approval.
Key Highlights
- Substantial doubt exists about the company's ability to continue as a going concern due to significant losses and current liabilities exceeding current assets.
- Net loss for the three months ended April 30, 2026, increased to $19,244 from $11,709 in the prior year.
- Net loss for the nine months ended April 30, 2026, decreased to $18,382 from $49,208 in the prior year.
- Revenue for the nine months ended April 30, 2026, surged to $55,940 from $483 in the prior year, primarily due to a leveling unit sale.
- Current liabilities exceeded current assets by $640,964 as of April 30, 2026.
- Total Stockholders' Deficit increased to $640,031 as of April 30, 2026.
- The merger with Jericho Associates, Inc. remains in progress, awaiting final regulatory approval.
Price Impact