Quarterly ResultMay 11, 2026, 06:12 AM
Sino Green Land Corp. Reports Q3 Loss, Faces Going Concern Doubt
AI Summary
Sino Green Land Corp. reported a net loss of $718,959 for the nine months ended March 31, 2026, despite an increase in net revenues to $1,060,984. The company faces substantial doubt about its ability to continue as a going concern, citing an accumulated deficit of $5,419,512 and net current liabilities of $4,190,838. Management plans to obtain additional capital through debt or equity financing and implement cost-reduction measures, supported by a financial support letter from its holding company.
Key Highlights
- Substantial doubt about going concern due to net loss and accumulated deficit.
- Net loss of $718,959 for the nine months ended March 31, 2026, compared to $1,177,057 loss in prior year.
- Net revenues increased to $1,060,984 for the nine months ended March 31, 2026, from $771,446.
- Accumulated deficit reached $5,419,512 as of March 31, 2026.
- Net current liabilities stood at $4,190,838 as of March 31, 2026.
- Total liabilities increased to $7,824,098 as of March 31, 2026, from $6,828,878.
- Total stockholders' deficit was $(2,873,004) as of March 31, 2026.
- Issued 283,500 shares of common stock in a private placement on February 11, 2026.