SEC Filing ● Major ⚠ 6
KMFG: 10-Q · periodic report
KEEMO Fashion Group reported zero revenue for the quarter ended June 30, 2026, with a net loss of $19,099, and disclosed substantial doubt about its ability to continue as a going concern. Current liabilities exceed current assets by $622,949 and the company carries a shareholders' deficit of $329,451.
The balance sheet is fragile: cash is only $22,147 while $583,024 is owed to related parties on an interest-free, repayable-on-demand basis, and operations were funded this quarter by $30,956 in related-party advances. Goodwill of $293,498 from the no-consideration common-control acquisition of GW Reader represents roughly 92% of total assets.
Management concluded that disclosure controls and internal control over financial reporting were not effective, citing four material weaknesses including the lack of a functioning audit committee, inadequate segregation of duties, insufficient written policies, and no internal audit function, with remediation targeted by the end of fiscal 2027.
The company operates two segments, apparel trading in China and digital publishing via Malaysia-based GW Reader, but neither generated sales in the quarter; major shareholder Addentax Group Corp acquired its 34.2 million share stake in February 2026.
SEC 10-Q • 2mo ago 
