AI-generated analysis. Always verify with the original filing.
Limitless Projects Inc., a software development company, reported no revenue for the six months ended January 31, 2026, matching the prior year period with zero general income. The consolidated net loss narrowed to $7,224 from $13,835 year-over-year, driven by reduced general and administrative expenses of $7,224 versus $13,835. For the three months ended January 31, 2026 (Q2), operating loss was $3,612, improved from $7,727 in Q2 2025. Total assets grew to $151,601 from $139,601 at July 31, 2025, reflecting $12,000 in software development costs, increasing software assets to $139,430. Liabilities rose to $562,154 from $542,930, primarily accounts payable up $19,224. Stockholders' equity deficit expanded slightly to -$410,553 from -$403,329, with accumulated deficit at -$305,917. Cash remained at $0, with net operating cash flow of $12,000 from payables increase offsetting losses, fully offset by $12,000 investing outflow. No financing activities. The filing highlights substantial going concern doubt due to losses and liquidity needs, with management relying on potential public offering proceeds and future software revenue from products like Privacy and Value and WarpSpeed Taxi. Internal controls over financial reporting were not effective as of January 31, 2026.
Limitless Projects Inc. recorded a consolidated operating and net loss of $7,224 for the six months ended January 31, 2026, compared to $13,835 in the six months ended January 31, 2025, reflecting lower general and administrative expenses of $7,224 versus $13,835. For the three months ended January 31, 2026, the operating loss was $3,612, down from $7,727 in the prior year three months. No revenue was generated in either period, consistent with the company's development-stage focus on software products. Balance sheet totals show assets at $151,601 as of January 31, 2026, up from $139,601 at July 31, 2025, and liabilities at $562,154 versus $542,930. Equity deficit stood at $410,553, worsened from $403,329. Net loss attributable to Limitless shareholders was $6,414 for six months, with minority interest share $810. Earnings per share remained $0.00 basic and diluted, with 100,608,200 weighted average shares outstanding.
The company reported zero general income and gross profit for the six months and three months ended January 31, 2026, unchanged from the prior year periods. No segment breakdown or geographic revenue mix is disclosed, as Limitless Projects Inc. is pre-revenue, focusing on developing ride-hailing app WarpSpeed Taxi and employee monitoring software Privacy and Value. A prior joint venture for Privacy and Value was terminated after non-payment by the counterparty.
With no revenue, gross and operating margins are not applicable. The operating loss as a percentage of zero revenue is undefined, but absolute expenses declined YoY. General and administrative costs, the sole expense category, fell 47.8% YoY to $7,224 for six months, indicating cost control in the development stage. No cost of goods sold was incurred.
Net cash provided by operating activities was $12,000 for six months, driven by $19,224 increase in accounts payable and accrued liabilities offsetting the $7,224 net loss. Investing activities used $12,000 for software development. No financing cash flows occurred. Cash balance remained $0 at period end and start. Balance sheet reflects minimal current assets of $10,000 (prepayments), fixed assets $141,601 (software $139,430, equipment $2,171), offset by $562,154 current liabilities. No debt disclosed; liquidity constrained with no cash.
Management expresses substantial doubt about going concern due to $305,917 accumulated deficit, ongoing losses, and need for capital to fund operations. Plans include financing via public offering proceeds, existing cash (none), and future revenue from software sales. No commitments for funding from insiders. Strategic priorities remain developing and licensing WarpSpeed Taxi and Privacy and Value apps. No subsequent events reported. Internal controls over financial reporting not effective per management assessment using COSO framework. No material changes in controls during Q2.
EPS
$0.00
Revenue
$0
Net Income
-$7,224
Operating Income
-$7,224