AcquisitionsJun 16, 2026, 03:06 PM
Exousia Bio Reports Net Loss, Faces Going Concern Doubt Post-Acquisition
AI Summary
Exousia Bio, Inc. (formerly LAMY) has filed its quarterly report on Form 10-Q for the period ended February 28, 2026. The company's primary focus shifted to biotechnology following the acquisition of Exousia Ai, Inc. on November 17, 2025. The financial statements reveal a net loss of $50,897 for the nine months ended February 28, 2026, and a significant working capital deficit of $261,023 with no cash on hand. A key subsequent event involved the rescission of shares issued to a former acquisition party.
Key Highlights
- Exousia Bio, Inc. (formerly LAMY) completed the acquisition of Exousia Ai, Inc. on November 17, 2025, adopting its biotechnology business plan.
- The company reported total assets of $22,050,670 as of February 28, 2026, primarily consisting of $22,050,000 in 'Other Assets' related to the Exousia AI investment.
- For the nine months ended February 28, 2026, the company reported a net loss of $50,897, compared to a net income of $80,659 for the same period in 2025.
- As of February 28, 2026, the company had no cash and cash equivalents and a working capital deficit of $261,023.
- A significant event post-period was the rescission of 21,000,000 shares issued to Progenicyte Japan CO., LTD. on March 14, 2026.
- The company has substantial doubt about its ability to continue as a going concern due to lack of revenue and accumulated deficit.
Price Impact