$USDW · MADE IN USA INC.
Made in USA Inc. filed its Q2 FY2027 10-Q for the period ended August 31, 2026. The company reported zero revenue for the current six-month period (vs. $35,936 in the prior year), a net loss of $4,724, and $0 cash. Total assets surged to $25.1M from $93,805 due to a June 2026 acquisition of intellectual property from affiliate Made in USA One LLC, paid entirely with 5,000,000 shares valued at $25M. Management explicitly warns of substantial doubt about the company's ability to continue as a going concern.
- Zero revenue for the six months ended August 31, 2026, versus $35,936 in the prior-year period.
- Cash reserves are $0 as of August 31, 2026; total liabilities are $622.
- Management explicitly states 'substantial doubt about the Company's ability to continue as a going concern.'
- Total assets ballooned to $25.1M from $93,805, driven by a $25M related-party intangible asset acquisition paid in stock.
- The company issued 5,000,000 shares at $5.00/share to acquire IP from an affiliate under common control.
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A company with zero revenue and $0 cash carrying a $25M intangible from a related-party stock deal while warning it may not survive is a textbook micro-cap red flag.
Micro-cap OTC company pivoting from music software to blockchain/AI-based product certification. The $25M intangible asset on the balance sheet dwarfs any operating activity, a structure common among development-stage OTC issuers using stock-based related-party acquisitions to build asset bases.
Going concern: management states substantial doubt about the company's ability to continue as a going concern, with $0 cash and no revenue. The $25M intangible asset acquired from a related party via stock issuance may be subject to impairment risk if the business fails to generate revenue.
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