Quarterly ResultJul 15, 2026, 04:52 PM
Digital Brand Media Q3 Net Loss $296K; Going Concern Doubt
AI Summary
Digital Brand Media & Marketing Group, Inc. reported a net loss of $296,439 for the three months ended May 31, 2026, and $846,645 for the nine months. Revenues increased to $48,600 for the quarter and $134,289 for the nine-month period. The company's financial statements were prepared on a going concern basis, with management acknowledging substantial doubt about its ability to continue operations due to $4.5 million in outstanding loans and convertible notes payable and insufficient cash on hand.
Key Highlights
- Substantial doubt about going concern due to $4.5 million in outstanding debt.
- Net loss for the nine months ended May 31, 2026, was $846,645.
- Net loss for the three months ended May 31, 2026, was $296,439.
- Revenues for the nine months increased 64.4% to $134,289.
- Revenues for the three months increased 93.7% to $48,600.
- Total liabilities increased 10.1% to $9,296,602 as of May 31, 2026.
- Cash balance was $25,101 as of May 31, 2026.
- Loans payable aggregated $4,204,359 as of May 31, 2026.
Price Impact