Quarterly ResultJul 14, 2026, 05:21 PM
Waste Energy Corp. Q1 Net Loss Widens to $2.44M; Going Concern Doubt
AI Summary
Waste Energy Corp. reported a significant increase in net loss for Q1 2026, reaching $2.44 million, compared to $23,068 in Q1 2025. The company's financial statements indicate substantial doubt about its ability to continue as a going concern, citing accumulated deficits, negative working capital, and ongoing operating losses. The company has transitioned its business focus from blockchain and digital collectibles to renewable waste energy, with consulting revenue doubling year-over-year.
Key Highlights
- Net loss for Q1 2026 widened to $2.44 million from $23,068 in Q1 2025.
- Accumulated deficit reached $53.47 million as of March 31, 2026.
- Negative working capital increased to $6.73 million from $4.50 million in Q4 2025.
- Total liabilities rose to $6.99 million, up 46.5% from $4.77 million in Q4 2025.
- Derivative liability surged by 121.2% to $4.05 million as of March 31, 2026.
- Consulting services revenue doubled to $83,333 in Q1 2026 from $41,667 in Q1 2025.
- The company faces substantial doubt about its ability to continue as a going concern.
- Notes receivable from related party EnderbyWorks ($2.43 million) are fully reserved.
Price Impact
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