Quarterly ResultMay 19, 2026, 05:17 PM
Lakeside Holding Q3 Net Income $142K; Disposes ABL Chicago
AI Summary
Lakeside Holding Ltd. reported a net income of $142,408 for the three months ended March 31, 2026, primarily driven by a $2.56 million gain from the disposal of its subsidiary, ABL Chicago. For the nine-month period, the company recorded a net loss of $2.80 million and continued to experience significant operational losses and negative cash flow from continuing operations. The company also disclosed a going concern warning due to its accumulated deficit and ongoing operational challenges, despite securing $8.24 million from a private placement.
Key Highlights
- Reported net income of $142,408 for the three months ended March 31, 2026.
- Recorded a net loss of $2.80 million for the nine months ended March 31, 2026.
- Revenue for the three months increased to $1.33 million from $0.50 million YoY.
- Revenue for the nine months increased to $5.11 million from $0.72 million YoY.
- Recognized a $2.56 million gain on the disposal of ABL Chicago, effective February 12, 2026.
- Net cash used in operating activities from continuing operations was $3.04 million for nine months.
- Received $8.24 million in proceeds from a private placement during the nine-month period.
- Disclosed a going concern warning due to an accumulated deficit of $8.14 million.
Price Impact
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