J-Star Holding Co., Ltd. Files Interim Financial Report on Form 6-K
J-Star Holding filed unaudited interim results for the six months ended June 30, 2026, reporting operating revenue of $6.8 million, down from $10.6 million a year earlier. The revenue decline was framed as deliberate: the company exited high-risk outsourced production in China to pivot toward U.S. manufacturing of commercial and defense unmanned aerial systems. The balance sheet improved sharply, with total equity swinging from negative $6.8 million at year-end 2025 to positive $2.8 million, driven by converting an $8.2 million related-party loan to equity and the CEO irrevocably canceling shareholder debt.
Key figures
- Revenue
- $6.8 million
- Prior total equity
- negative $6.8 million
- Prior year revenue
- $10.6 million
- Total equity positive
- $2.8 million
- Share based compensation
- $1.1 million
- Debt to equity conversion
- $8.2 million
- Professional service expenses
- $372,000
AI analysis
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