$LLPS · Limitless Projects Inc.
Limitless Projects Inc. filed its 10-K for the fiscal year ended July 31, 2026, reporting zero revenue, a consolidated net loss of $80,837, and a cash balance of $0. The company carries $585,353 in total liabilities against just $10,000 in current assets (prepayments and deposits). The independent auditor included a going concern warning, citing an accumulated deficit of $346,446 and substantial doubt about the company's ability to continue operations.
- Zero revenue generated for fiscal year ended July 31, 2026 — the company remains a development-stage enterprise with no sales.
- Consolidated net loss of $80,837 for FY2026, up from $68,765 in FY2025, driven by $37,329 in impairment expense on the Privacy & Value software.
- Cash balance of $0 as of July 31, 2026; total liabilities of $585,353, consisting entirely of accounts payable related to the Privacy and Value software.
- Auditor issued a going concern opinion citing accumulated deficit of $346,446 and substantial doubt about the company's ability to continue.
- Aggregate market value of common equity held by non-affiliates was just $20,800 as of the most recent second fiscal quarter.
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A publicly traded company with 100.6 million shares outstanding, zero cash, zero revenue, and a going concern warning is effectively insolvent — this is a pre-revenue penny stock with existential risk.
Limitless Projects is a micro-cap development-stage software company attempting to build an AI-enhanced employee monitoring tool. It competes against well-funded incumbents like Praxent, Orases, and 10Pearls while operating with no revenue, no cash, and a $20,800 public float — making it effectively a pre-revenue shell with a single unproven product.
The company has never generated revenue, has $0 cash, and owes $585,353 in payables. The auditor explicitly states substantial doubt about the company's ability to continue as a going concern. The company is entirely dependent on raising external financing to fund operations and complete its sole software product, with no assurance such financing will be available.