Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
10-Q
Rhea-AI Filing Summary
DeltaSoft Corp (DSFT), a Wyoming-based development-stage IT consulting and software company, reported its quarter ended June 30, 2026 with no <a href="https://bitcomme.com/madison-technologies-mdex-runs-on-debt-with-no-cash-or-revenue/” title=”Madison Technologies (MDEX) runs on debt with no cash or revenue”>revenue and a net loss of $9,736, compared with revenue of $10,109 and net income of $1,130 a year earlier. The company is building an AI-supported project planning and freelancer management platform and Android mobile app, but has not yet generated recurring revenue.
Total assets were $55,762, including $8,449 in cash and $27,313 in intangible assets, against total liabilities of $26,455, primarily a $26,231 unsecured, non‑interest‑bearing related party loan from the sole director. Stockholders’ equity was $29,307 with an accumulated deficit of $10,547, and 5,317,706 common shares were outstanding as of August 12, 2026.
Management states there is substantial doubt about the company’s ability to continue as a going concern due to limited working capital and lack of a stabilized revenue base, and expects dependence on additional investment capital. Management also concluded that disclosure controls and procedures were not effective as of June 30, 2026, although no material changes in internal control over financial reporting were identified during the quarter.
Positive
- None.
Negative
- Going concern uncertainty: The company highlights an accumulated deficit of $10,547, limited working capital, and no stable revenue, stating substantial doubt about its ability to continue as a going concern.
- Ineffective disclosure controls: Management concluded disclosure controls and procedures were not effective as of June 30, 2026, indicating control weaknesses around financial reporting and disclosures.
- Revenue decline and swing to loss: Quarterly revenue fell from $10,109 to $0, with results moving from net income of $1,130 to a net loss of $9,736.
