Tue, Nov 19, 8:06 PM (59 days ago)
Hawkeye Systems, Inc. (HWKE) reported a net loss of $156,720 for the quarter ending September 30, 2024, a decrease from a loss of $214,247 in the same period last year. The company had no operating revenue and incurred total operating expenses of $95,546, down from $168,841, primarily due to reduced professional fees and management compensation. Cash reserves dwindled to $7, insufficient to cover operational costs for the next 12 months, necessitating additional capital through equity or debt financing. Total liabilities increased to $2,775,054, with a significant portion attributed to related party loans. The accumulated deficit reached $12,843,924, raising substantial doubt about the company's ability to continue as a going concern. Management's focus is on diversifying investments in affordable housing and climate technology. The company has no current revenue and relies heavily on related party advances, emphasizing the need for strategic fundraising efforts to sustain operations.