SEC Filing●Major⚠ 10
BSAI: 10-Q · periodic report
BluSky AI Inc., a pre-revenue modular data center and GPU-as-a-Service operator formerly known as Inception Mining, reported a net loss of $478,109 for the quarter ended June 30, 2026, improved from $1,556,920 a year earlier, driven mainly by lower consulting, legal, and investor relations costs.
The company disclosed substantial doubt about its ability to continue as a going concern, holding just $507,547 in cash against a $3,231,379 working capital deficit and a $1,620,365 stockholders' deficit at June 30, 2026. Management also concluded that disclosure controls and procedures were not effective as of quarter end.
Funding is heavily related-party dependent, with $1,455,572 in short-term notes payable to affiliates including CEO-controlled Digital Asset Medium, LLC, which received 20,000,000 shares tied to a solar power asset valued at $1,289,309 with an $8,510,691 deemed dividend. A SEC-approved Reg A offering raised $433,210 gross from 86,642 shares in the period, offset by $271,248 of offering costs, and subscription activity continued after quarter end.
Separately, the company settled its March 2024 lawsuit against Mother Lode Mining and Robert Salna on February 4, 2026, with mutual dismissal with prejudice and mutual releases, ending claims originally sought at not less than $2,237,800.
SEC 10-Q•2mo ago
