Alphega Innovations Corp
Alphega Innovations Corporation filed its 10-Q for the quarter ended August 31, 2026, reporting a net loss of $3,583,901 for Q3 and $6,178,733 for the nine-month period. The company generated only $40,575 in services income year-to-date against $6,190,199 in total expenses, including $2,300,000 in stock-based compensation. Cash stands at $16,172 while total current liabilities are $5,760,999, of which $5,231,423 is due to related parties. The auditor includes a going-concern qualification citing the accumulated deficit of $8,506,282 and insufficient revenue to cover operating costs.
- Net loss ballooned to $6,178,733 for the nine months ended August 31, 2026, vs. $1,414,570 in the prior-year period.
- Accumulated deficit reached $8,506,282 as of August 31, 2026, up from $2,327,549 at November 30, 2025.
- Due to related parties surged to $5,231,423 from $1,881,592, representing 91% of total liabilities.
- Stock-based compensation of $2,300,000 was recorded in Q3 FY2026 — the single largest expense item.
- Cash on hand is just $16,172 against $5,760,999 in total current liabilities; auditor raises substantial doubt about going concern.
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A development-stage company with $16K cash, $5.7M in liabilities (91% owed to related parties), and a $6.2M nine-month loss is flashing severe financial distress — the going-concern warning makes this
Development-stage AR/VR/metaverse company with minimal revenue ($40,575 over nine months) and escalating losses — typical of pre-revenue emerging-growth shells burning cash on professional fees and stock comp while funding operations through related-party loans.
Going-concern warning: accumulated deficit of $8.5M, only $16K cash, and management states it needs at least $250,000 over the next twelve months to continue operations. Heavy reliance on related-party financing ($5.2M due to related parties) creates concentrated counterparty risk if those parties停止
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