Quarterly ResultMay 13, 2026, 09:02 AM
SEATech Ventures Q1 Net Profit $1,459; Going Concern Doubt
AI Summary
SEATech Ventures Corp. reported a net profit of $1,459 for Q1 2026, a significant decrease from $7,417 in Q1 2025. The company disclosed substantial doubt about its ability to continue as a going concern due to an accumulated deficit of $1,091,717 and negative operating cash flow. Total assets declined to $4,687 from $10,484 at year-end 2025, and cash and cash equivalents remained critically low at $460. The company has not generated any revenue to date and waived a $4,742 receivable from its former CEO.
Key Highlights
- Substantial doubt about the Company's ability to continue as a going concern.
- Q1 2026 net profit decreased to $1,459 from $7,417 in Q1 2025.
- Total assets declined to $4,687 as of March 31, 2026, from $10,484.
- Cash and cash equivalents stood at $460 as of March 31, 2026.
- Accumulated deficit was $(1,091,717) as of March 31, 2026.
- Waived $4,742 receivable from former CEO Mr. Chin Chee Seong.
- No revenue generated in Q1 2026 or Q1 2025.
- Net cash used in operating activities improved to $(5) from $(45,825).