Business UpdateMay 12, 2026, 01:12 PM
Invech Holdings Changes Control, Acquires SaaS Platforms
AI Summary
Invech Holdings, Inc. underwent a change of control on February 17, 2026, with Alexander M. Woods-Leo becoming the sole officer and director. The company has pivoted its business model to focus on SaaS software development and corporate filings, acquiring the www.paragonrentals.ai platform for $450,000 and subsequently www.sportypick.com. Despite these strategic shifts, the company reported an increased net loss of $(119,313) for Q1 2026, has no revenue, and faces substantial doubt about its ability to continue as a going concern, with a key convertible note already in default. Additionally, management identified a material weakness in internal controls.
Key Highlights
- Alexander M. Woods-Leo acquired control block of stock and was appointed sole officer and director on February 17, 2026.
- Company shifted focus to SaaS software development, corporate filings, and building businesses around developed platforms.
- Acquired www.paragonrentals.ai, a Real Estate Rental property management platform, for a $450,000 convertible promissory note.
- Subsequent to quarter-end, acquired www.sportypick.com, a sports betting platform, for 5,000,000 restricted common shares.
- Net loss for Q1 2026 increased to $(119,313) from $(31,377) in Q1 2025.
- Total assets grew to $517,600 as of March 31, 2026, from $1,500 at December 31, 2025, primarily due to intangible assets.
- The $450,000 convertible promissory note for paragonrentals.ai is in default as of May 3, 2026.
- Management concluded disclosure controls and procedures were not effective due to a material weakness in segregation of duties.