Quarterly ResultMay 14, 2026, 11:34 AM
Mag Mile Capital Q1 Revenue +205% to $2.38M; Net Income $301K
AI Summary
Mag Mile Capital reported a significant increase in revenue and net income for Q1 2026, driven by a large refinance transaction and an active CMBS market. Revenue surged 205.2% to $2.38 million, resulting in a net income of $301,433 compared to $9,714 in the prior year. Despite these positive results, the company's ability to continue as a going concern remains in doubt due to historical reliance on related party financing.
Key Highlights
- Revenue increased 205.2% to $2,382,375 for Q1 2026, up from $780,500 in Q1 2025.
- Net income rose to $301,433 in Q1 2026, a substantial increase from $9,714 in Q1 2025.
- Gross profit grew 172.7% to $698,293 for Q1 2026, compared to $256,080 in Q1 2025.
- Cash at period end was $644,116 as of March 31, 2026, up from $140,134 in Q1 2025.
- Total stockholders' equity turned positive at $11,100 as of March 31, 2026, from a $290,333 deficit.
- A $79.5 million refinance transaction with HKB Hotels Group generated $1,390,000 in gross revenue.
- Related party commission expense increased to $1,100,663 in Q1 2026 from $180,400 in Q1 2025.
- The company noted substantial doubt about its ability to continue as a going concern.