Quarterly ResultMay 12, 2026, 03:26 PM
Nika Pharmaceuticals Q1 Net Loss $13,359; Going Concern Warning
AI Summary
Nika Pharmaceuticals, Inc. reported a net loss of $13,359 for the first quarter of 2026, a slight increase from $12,945 in the same period last year, with no revenue generated. The company's accumulated deficit reached $9,017,368, raising substantial doubt about its ability to continue as a going concern. To address growth and capital needs, Nika signed a 12-month consultancy agreement with MD Global Partners, LLC in March 2026.
Key Highlights
- Net loss for Q1 2026 was $13,359, compared to $12,945 in Q1 2025.
- Company reported no revenue for the three months ended March 31, 2026 and 2025.
- Accumulated deficit reached $9,017,368 as of March 31, 2026.
- Cash balance decreased to $1,530 as of March 31, 2026, from $1,889 at December 31, 2025.
- Total liabilities increased to $331,624 as of March 31, 2026, from $318,624 at December 31, 2025.
- Signed a 12-month Consultancy Agreement with MD Global Partners, LLC on March 5, 2026, for capital raising and growth initiatives.
- Issued 1,000,000 shares of common stock in Q1 2026 as part of the Nika BioTechnology, Inc. merger.
- The acquisition of Nika Pharmaceuticals, Ltd. (and beneficial ownership of factory/land) was cancelled and reversed in August 2024.