Quarterly ResultMay 13, 2026, 04:38 PM
Fuse Group H1 Revenue Down 61.5% to $7,683; Net Loss $(90,785)
AI Summary
Fuse Group Holding Inc. reported a significant decline in revenue for the six months ended March 31, 2026, falling 61.5% to $7,683. Despite this, the net loss improved by 30.9% to $(90,785). The company's total assets decreased by 50.1% to $17,320, while total liabilities decreased by 41.6% to $283,606, partly due to the conversion of convertible notes into common stock. The Letter of Intent to acquire Beijing Catering Inc. also expired without closing.
Key Highlights
- Six-month revenue decreased 61.5% to $7,683 (vs. $19,942 prior year).
- Six-month net loss improved 30.9% to $(90,785) (vs. $(131,421) prior year).
- Total assets declined 50.1% to $17,320 as of March 31, 2026.
- Cash and cash equivalents decreased 44.2% to $11,812.
- Total liabilities decreased 41.6% to $283,606.
- Converted $275,000 of convertible notes into 3,928,573 common shares.
- Due to related party increased 447.3% to $121,254.
- LOI to acquire Beijing Catering Inc. expired on May 31, 2024.