Mon, Sep 30, 9:29 PM (81 days ago)
Hawkeye Systems, Inc. reported no operating revenues for the fiscal years ended June 30, 2024, and 2023, following the cessation of its PPE business in July 2021. The company incurred a net loss of $578,717 in 2024, reduced from a loss of $1,226,311 in 2023, primarily due to decreased operating expenses, which were $373,390 compared to $1,118,537 the prior year. The company’s cash balance dropped to zero from $143,861, indicating liquidity concerns. Total liabilities decreased to $2,606,527 from $3,509,507, while the accumulated deficit reached $12,687,204. The firm is pursuing diversified investment opportunities and anticipates raising additional capital through equity or debt securities. A significant risk factor is its reliance on related party financing, particularly from shareholder Steve Hall, who holds over 51% of shares. The company’s market position remains precarious, with no established revenue stream and ongoing operational losses, raising substantial doubt about its ability to continue as a going concern. Future strategies include potential mergers or acquisitions, but success depends on effective capital raising and management execution.