$PVIT · Palisades Venture Inc.
Palisades Venture filed its 10-Q for the quarter ended September 30, 2026. Revenue was $48,243 (down 2% YoY), gross margin held at 84%, and the net loss narrowed to $(22,807) from $(35,078) due to lower overhead. The balance sheet shows $145 in cash, total liabilities of $440,337, and a stockholders' deficit of $(433,676). The auditor includes a going concern warning citing accumulated losses of $(583,593) and negative working capital of $(85,676).
- Cash on hand is $145 as of September 30, 2026, down from $906 at year-end 2025.
- Total liabilities are $440,337 against total assets of $6,661, producing a stockholders' deficit of $(433,676).
- Related party payables to Mr. Rechtman surged to $67,560 from $34,881 at December 31, 2025.
- The auditor's going concern note cites accumulated deficit of $(583,593) and negative working capital of $(85,676).
- Q3 net loss narrowed to $(22,807) from $(35,078) YoY, driven by lower overhead, but revenue dipped 2% to $48,243.
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A public company with $145 in cash, a going concern flag, and a $440K liability stack is an extreme distress case — the next filing could be its last as a going concern.
Palisades operates in cloud computing and disaster recovery — a sector where scale and capital intensity matter. With $48K in quarterly revenue and $145 in cash, it lacks the resources to compete against well-funded peers.
Going concern: accumulated deficit of $(583,593), negative working capital of $(85,676), and cash of just $145 raise substantial doubt about the Company's ability to continue. The Company is dependent on related-party advances and external fundraising to sustain operations, with no assurance either will materialize.