Quarterly ResultJul 21, 2026, 12:21 PM
SUPA Consolidated Reports Q2 Net Loss, Faces Going Concern Doubt
AI Summary
SUPA Consolidated Inc. reported a net loss of $228,331 for Q2 2026 and $414,399 for the six months ended June 30, 2026. The company faces substantial doubt about its ability to continue as a going concern, with an accumulated deficit of $3.51 million and a working capital deficit of $1.50 million. The company has pivoted to the food technology sector, focusing on water and ice vending machines, after divesting its ridesharing IP for a $5 million investment in Boumarang Inc.
Key Highlights
- Net loss for Q2 2026 was $228,331, compared to $162,619 in Q2 2025.
- Net loss for H1 2026 was $414,399, significantly higher than $22,955 in H1 2025.
- Accumulated deficit reached $3.51 million and working capital deficit was $1.50 million as of June 30, 2026.
- Company issued a going concern warning due to recurring losses and capital needs.
- Cash balance decreased to $14,989 at June 30, 2026, from $17,675 at Dec 31, 2025.
- Received $274,000 in additional advances from related party Spark Capital during H1 2026.
- Recorded a $50,500 loss on inventory write-off in Q2 2026 due to non-revenue generating vending machines.
- Maintained a $5 million investment in Boumarang Inc. from the 2024 IP sale.
Price Impact
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