FUSE GROUP HOLDING INC. (FUST)
Fuse Group Holding Inc. specializes in offering advisory services to clients within the mining industry, specifically helping them identify suitable acquisition opportunities. The company's primary operational emphasis is placed on the mining and biotechnology sectors. Established in 2013, and headquartered in Arcadia, California, the firm was formerly known as Fuse Enterprises Inc. before officially adopting the name Fuse Group Holding Inc. in May 2019.
Sector: Metal Mining
Industry: Industrial Materials
Fuse Group Holding Inc.
OTC:FUSTBasic Materials · Industrial Materials
Mkt Cap$1.4M
Float10.39M
O/S17.23M
Inst Own-
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$46K
Net Income-$284K
Total Assets$35K
Free Cash Flow-$290K
Debt & Equity
Debt 4011%
Total Debt$462K
Total Equity-$451K
Shares Outstanding
Short Interest
Split History2 splits · 1 reverse
- 1:5Reverse splitSep 24, 20245 shares → 1
- 5:1Forward splitJun 16, 20171 share → 5
Balance Sheet Details
Assets$35K
Liabilities$485K
Accounts Receivable$0
Accounts Payable$0
Inventory$0
PP&E (Net)$0
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 |
| Revenue | $46K | $332K | $0 | $200K | $700K | $750K | $1.22M | $0 | $0 | $25K | $29K | $0 |
| YoY Growth | -86.2% | - | - | -71.4% | -6.7% | -38.3% | - | - | - | -12.0% | - | - |
| Cost of Revenue | $0 | $0 | $2K | $10K | $81K | $201K | $277K | $2K | $2K | $7K | $9K | $0 |
| Gross Profit | $46K | $332K | -$2K | $190K | $619K | $549K | $939K | -$2K | -$39K | $18K | $20K | $0 |
| Gross Margin | 100.0% | 100.0% | - | 95.0% | 88.4% | 73.1% | 77.2% | - | - | 72.1% | 69.6% | - |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $324K | $346K | $393K | $624K | $685K | $594K | $1.02M | $2.6M | $1.52M | $61K | $25K | $12K |
| Other | $0 | $20K | $62K | $60 | $1M | -$200 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $324K | $365K | $453K | $624K | $1.69M | $594K | $1.02M | $4.1M | $1.52M | $61K | $25K | $12K |
| Operating Income (EBIT) | -$278K | -$33K | -$455K | -$434K | -$1.07M | -$45K | -$78K | -$4.1M | -$1.52M | -$43K | -$5K | -$12K |
| Operating Margin | -604.8% | -10.0% | - | -216.8% | -152.3% | -6.0% | -6.4% | - | - | -171.4% | -16.1% | - |
| Interest Expense | $3K | $5K | $17K | $8K | $4K | $992 | $1K | $159K | $163K | $0 | $0 | $0 |
| Interest Income | $0 | $0 | $17K | $0 | $0 | $0 | $13 | $41K | $106K | $0 | $0 | $0 |
| Other Income (Expense) | -$3K | -$5K | -$17K | -$8K | $44K | -$2K | -$1K | -$118K | -$39K | $0 | $0 | $0 |
| Income Before Tax (EBT) | -$281K | -$38K | -$472K | -$442K | -$1.02M | -$47K | -$79K | -$4.22M | -$1.56M | -$43K | -$5K | -$12K |
| Income Tax Expense | $2K | $2K | $2K | $2K | $2K | $4K | $800 | $800 | $0 | $0 | $0 | $0 |
| Net Income | -$284K | -$40K | -$475K | -$444K | -$1.02M | -$51K | -$80K | -$4.22M | -$1.56M | -$43K | -$5K | -$12K |
| Net Income Margin | -617.5% | -12.2% | - | -222.2% | -146.3% | -6.9% | -6.6% | - | - | -171.4% | -16.1% | - |
| Supplementary Data | ||||||||||||
| EPS | -0.02 | -0.00 | -0.01 | -0.01 | -0.02 | -0.00 | -0.00 | -0.08 | -0.03 | -0.00 | -0.00 | -0.00 |
| Diluted EPS | -0.02 | -0.00 | -0.01 | -0.01 | -0.10 | -0.00 | -0.00 | -0.08 | -0.03 | -0.00 | -0.00 | -0.00 |
| Weighted Average OS | 13.30M | 13.28M | 65.15M | 64.78M | 64.78M | 64.78M | 64.78M | 49.83M | 45.15M | 35.13M | 27.50M | 20.65M |
| EBITDA | -$277K | -$32K | -$453K | -$432K | -$988K | -$19K | -$76K | -$4.06M | -$1.41M | -$42K | -$4K | $3K |
| EBITDA Margin | -603.8% | -9.8% | - | -215.8% | -141.2% | -2.5% | -6.2% | - | - | -166.3% | -13.1% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 |
| Assets | ||||||||||||
| Current Assets | ||||||||||||
| Cash and Cash Equivalents | $21K | $68K | $27K | $33K | $136K | $194K | $102K | $103K | $419K | $8K | $14K | $914 |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $21K | $68K | $27K | $33K | $136K | $194K | $102K | $103K | $419K | $8K | $14K | $914 |
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.92M | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Assets | $0 | $18K | $0 | $12K | $0 | $10K | $0 | $75K | $0 | $9K | $0 | $0 |
| Total Current Assets | $35K | $85K | $39K | $45K | $158K | $204K | $102K | $179K | $5.34M | $17K | $14K | $914 |
| Long-Term Assets | ||||||||||||
| Property, Plant & Equipment Net | $0 | $5K | $33K | $61K | $7K | $35K | $9K | $11K | $13K | $2K | $4K | $0 |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $0 | $0 | $0 | -$61K | -$7K | $1M | $1M | $1M | $0 | $0 | $0 | $0 |
| Total Long-Term Assets | $0 | $5K | $33K | $61K | $7K | $1.04M | $1.01M | $1.01M | $13K | $2K | $4K | $0 |
| Other Assets | $0 | -$5K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $35K | $85K | $72K | $106K | $165K | $1.24M | $1.11M | $1.19M | $5.36M | $19K | $17K | $914 |
| Liabilities | ||||||||||||
| Current Liabilities | ||||||||||||
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $9K | $8K | $11K | $7K |
| Short-Term Debt | $297K | $2K | $2K | $2K | $3K | $76K | $0 | $0 | $6.87M | $0 | $0 | $0 |
| Current Income Tax Payable | $0 | $2K | $2K | $0 | $0 | $3K | $0 | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$6.88M | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | -$26K | $0 | $0 | $0 | $27K | $0 | $3K |
| Total Current Liabilities | $320K | $153K | $93K | $38K | $34K | $81K | $11K | $10K | $6.88M | $35K | $26K | $10K |
| Long-Term Liabilities | ||||||||||||
| Long-Term Debt | $165K | $99K | $152K | $454K | $106K | $106K | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $165K | $99K | $157K | $488K | $106K | $110K | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $485K | $252K | $250K | $526K | $140K | $191K | $11K | $10K | $6.88M | $35K | $26K | $10K |
| Stockholders' Equity | ||||||||||||
| Preferred Stock | $0 | $0 | $0 | $1 | $0 | $1 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $13K | $13K | $66K | $65K | $65K | $65K | $65K | $65K | $45K | $9K | $6K | $0 |
| Retained Earnings | -$8.23M | -$7.95M | -$7.91M | -$7.43M | -$6.99M | -$5.97M | -$5.91M | -$5.83M | -$1.61M | -$57K | -$14K | -$9K |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$4K | -$2K | -$2K | $0 | $0 |
| Other Stockholders' Equity | $7.77M | $7.77M | $7.66M | $6.95M | $6.95M | $6.95M | $6.95M | $6.95M | $47K | $32K | $0 | $0 |
| Total Equity | -$451K | -$167K | -$178K | -$420K | $25K | $1.05M | $1.1M | $1.18M | -$1.52M | -$16K | -$8K | -$9K |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $35K | $85K | $72K | $106K | $165K | $1.24M | $1.11M | $1.19M | $5.36M | $19K | $17K | $914 |
| Supplementary Data | ||||||||||||
| Total Debt | $462K | $106K | $188K | $517K | $113K | $213K | $0 | $0 | $6.87M | $0 | $0 | $0 |
| Net Debt | $441K | $39K | $161K | $484K | -$22K | $18K | -$102K | -$103K | $6.45M | -$8K | -$14K | -$914 |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-09-30 | 2024-09-30 | 2023-09-30 | 2022-09-30 | 2021-09-30 | 2020-09-30 | 2019-09-30 | 2018-09-30 | 2017-09-30 | 2016-09-30 | 2015-09-30 | 2014-09-30 |
| Operating Activities | ||||||||||||
| Net Income | -$284K | -$40K | -$475K | -$444K | -$1.02M | -$51K | -$80K | -$4.22M | -$1.56M | -$43K | -$5K | -$12K |
| Depreciation & Amortization | $455 | $455 | $2K | $2K | $29K | $28K | $2K | $2K | $2K | $1K | $858 | $12K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $17K | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||
| Accounts Receivable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Accounts Payable | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3K | $0 | $0 |
| Other Working Capital | -$11K | -$19K | $33K | -$7K | $12K | -$35K | $1K | -$125K | -$982K | $4K | $15K | $10K |
| Total Working Capital Change | -$11K | -$19K | $33K | -$7K | $12K | -$35K | $1K | -$125K | -$982K | $1K | $15K | $10K |
| Other Non-Cash Items | $4K | -$1K | $133 | -$470 | $924K | -$5K | $75K | $102K | $17K | $5K | $15K | -$9K |
| Net Cash from Operating | -$290K | -$60K | -$440K | -$450K | -$58K | -$63K | -$1K | -$4.24M | -$2.52M | -$41K | $12K | $1K |
| Investing Activities | ||||||||||||
| Capital Expenditures | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$15K | $0 | -$4K | $0 |
| Acquisitions | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.92M | -$3.92M | $0 | $0 | $0 |
| Net Cash from Investing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.92M | -$3.94M | $0 | -$4K | $0 |
| Financing Activities | ||||||||||||
| Debt Repaid | -$361K | $3K | -$397K | -$347K | $525 | -$155K | - | - | -$6.87M | - | - | - |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2K | $35K | $6K | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$117K | $104K | $36K | $0 | $0 | $0 | $0 | $0 | $0 | -$35K | $0 | $0 |
| Net Cash from Financing | $243K | $101K | $433K | $347K | -$525 | $155K | $0 | $0 | $6.87M | $35K | $6K | $0 |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$46K | $41K | -$6K | -$103K | -$59K | $92K | -$1K | -$316K | $411K | -$5K | $13K | $1K |
| Supplementary Data | ||||||||||||
| Operating Cash Flow | -$290K | -$60K | -$440K | -$450K | -$58K | -$63K | -$1K | -$4.24M | -$2.52M | -$41K | $12K | $1K |
| Capital Expenditure | $4 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$15K | $0 | -$4K | $0 |
| Free Cash Flow | -$290K | -$60K | -$440K | -$450K | -$58K | -$63K | -$1K | -$4.24M | -$2.54M | -$41K | $7K | $1K |
| Cash at Beginning | $68K | $27K | $33K | $136K | $194K | $102K | $103K | $419K | $8K | $14K | $914 | $0 |
| Cash at End | $21K | $68K | $27K | $33K | $136K | $194K | $102K | $103K | $419K | $8K | $14K | $1K |