Quarterly ResultMay 13, 2026, 04:32 PM
Genvor Inc Reports Q2 Net Loss $429K; Going Concern Warning
AI Summary
Genvor Inc reported a net loss of $429,567 for the three months ended March 31, 2026, and $1,005,847 for the six months. The company continues to operate without revenue, holding cash of $94,808 and a working capital deficit of $891,095. These factors, along with an accumulated deficit of $27.2 million, raise substantial doubt about its ability to continue as a going concern.
Key Highlights
- Net loss for the three months ended March 31, 2026, was $(429,567).
- Net loss for the six months ended March 31, 2026, was $(1,005,847).
- Cash balance at March 31, 2026, was $94,808, up from $37,231 at September 30, 2025.
- Working capital deficit stood at $891,095 as of March 31, 2026.
- Accumulated deficit reached $27,199,153 at March 31, 2026.
- Cash used in operating activities for the six months was $(594,213).
- Total stockholders' deficit was $(891,095) at March 31, 2026.
- Convertible note payable of $20,000 was converted into common stock in October 2025.