v3.26.1
GOING CONCERN
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN

NOTE 3 – GOING CONCERN

 

The accompanying unaudited condensed financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and settlement of liabilities in the normal course of business. As of June 30, 2026, the Company had cash of $702,809, working capital of approximately $1.8 million and an accumulated deficit of approximately $1.7 million. For the six months ended June 30, 2026, the Company incurred a loss from continuing operations of approximately $301,000 and used approximately $1.6 million of cash in operating activities.

 

The Company is in the early stages of developing its new business operations and has not generated revenues from continuing operations. The Company expects to incur additional costs related to its exploration, development and other planned business activities and will require additional capital to fund these activities. During the six months ended June 30, 2026, the Company funded its operations primarily through advances from related parties and sales of common stock.

 

The Company’s ability to continue as a going concern is dependent upon its ability to obtain additional financing, successfully execute its business plan and ultimately generate sufficient revenues and cash flows from operations. Management intends to seek additional funding through debt and equity financings, related-party funding and other potential sources of capital. There can be no assurance that such financing will be available when needed or on terms acceptable to the Company. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for a period of one year from the date these unaudited condensed financial statements are issued.

 

The accompanying unaudited condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.