Mon, Sep 30, 8:34 PM (81 days ago)
Admiral Financial Corp. remains inactive, with no revenues or operating expenses reported for the fiscal years ending June 30, 2024, and 2023. The company is in a phase of seeking recapitalization to explore new business opportunities, primarily in interest-earning assets and specialty real estate. As of June 30, 2024, Admiral's total assets and liabilities are both reported at $0, indicating no financial activity. The company’s stock trades on the OTC market under the symbol ADFK, with no active market making for its shares. The management anticipates minimal future operating costs until a recapitalization occurs, as there are currently no cash flows. There are significant risks associated with potential future operations, including the need for equity capital and the successful integration of any acquired businesses. The company has not paid dividends since inception and does not expect to do so in the foreseeable future. The financial condition remains precarious, with a significant reliance on future capital infusions to resume operations. The company’s Chairman and CEO, Wm. Lee Popham, has been in position since inception in 1987, with no compensation arrangements in place for current management.