Webstar Technology Group Inc. (WBSR) Form 10-Q — May 20, 2026
Webstar Technology Group reported a net loss of $1.45 million for the first quarter of 2026, with zero revenue generated. The company holds only $1,271 in cash against total liabilities of $41.7 million, including $37.3 million in promissory notes and convertible debt. Management disclosed a going concern warning, stating that existing cash is insufficient to fund operations for the next twelve months. The company also identified material weaknesses in internal controls, including a lack of segregation of duties and inadequate system controls.
Key figures
- Eps
- 0
- Revenue
- 0
- Total Debt
- 41771868
- Total Assets
- 38078695
- Cash Position
- 1271
- Shares Outstanding
- 405558604
- Interest Expense
- 1295926
- Regulation AOffering Size
- 10000000
- Regulation AOffering Price
- 7
- Forge Atlanta Purchase Price
- 34500000
Price after filing
Close on the filing date to close N calendar days later (from $0.07). Historical, not a forecast.
AI analysis
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AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.