MGNC · Mag Magna Corp.

Performance Summary

Mag Magna Corp. reported no revenue for the three months ended January 31, 2026, identical to the $0 revenue reported for the same period in 2025. The company incurred a net loss of $131,125 for Q3 2026, a substantial increase from the $4,670 net loss in Q3 2025. This deterioration was driven by operating expenses of $131,125, primarily general and administrative costs, compared to $26,964 in the prior year quarter. Basic and diluted loss per share was $(0.02) for Q3 2026 versus $(0.00) for Q3 2025. The weighted average shares outstanding increased to 6,089,917 from 5,829,047 in the prior year quarter.

Revenue Analysis

The company generated no revenue during Q3 2026 from its historical business segments: consulting services and API requests. This represents a complete decline from Q3 2025, when the company reported $22,294 in total revenue ($9,987 from consulting services and $12,307 from API requests). Management attributes the zero revenue to the company's abandoned poultry farming consultancy business plan. The document discloses no segment breakdown beyond these two discontinued revenue streams, and no revenue from the new mining business was reported during the quarter.

Margins & Profitability

With zero revenue, the company reported negative operating margins for Q3 2026. The $131,125 in operating expenses resulted entirely from general and administrative costs, representing a 386% increase from the $26,964 in operating expenses during Q3 2025. The company recognized $0 in amortization expense for the quarter but $14,755 for the nine-month period. An impairment charge of $103,745 was recorded for intangible assets during the nine months ended January 31, 2026. The net loss margin cannot be calculated due to zero revenue, but the absolute net loss increased by $126,455 compared to the prior year quarter.

Cash Flow & Balance Sheet

The company used $84,542 in cash for operating activities during the nine months ended January 31, 2026, compared to $31,218 used in the prior year period. Cash provided by financing activities was $110,942, primarily from related-party borrowings. The net increase in cash was $26,400, resulting in a cash balance of $26,400 at January 31, 2026. Total assets increased to $1,926,400 from $144,297 at April 30, 2025, largely due to the $1.9 million acquisition of mining assets. Total liabilities were $501,537, including $300,000 in acquisition payables and $195,869 in related-party loans. Stockholders' equity improved to $1,424,863 from a deficit of $(83,298), driven by the $1.6 million equity issuance for mining asset acquisition.

Outlook

Management has changed the company's business plan from poultry farming consulting to acquiring and developing mineral rights for rare earth mining, effective January 2026. The company entered into a purchase agreement for mineral properties requiring $300,000 in cash payments over two years and minimum work commitments of $100,000 in 2026 and $200,000 in 2027. Management acknowledges substantial doubt about the company's ability to continue as a going concern due to accumulated deficits of $349,863, net losses, and negative operating cash flows. The company plans to finance operations over the next twelve months with existing cash and public equity offerings. Risk factors include the uncertainty of obtaining necessary financing, generating future revenue from mining operations, and the inherent risks of mineral exploration and development.