Catalyst Crew Technologies Corp. SEC 10-Q Report

Catalyst Crew Technologies Corp., a company transitioning its focus to facial recognition technology solutions, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant financial and operational changes, including a substantial reduction in net loss and operating expenses, as well as strategic management changes and a shift in business direction.

Financial Highlights

Revenue: The company reported no revenue for the three or six months ended June 30, 2025, and 2024.

Operating Expenses: Operating expenses for the three months ended June 30, 2025, were $19,854, a significant decrease from $1,517,170 for the same period in 2024. For the six months ended June 30, 2025, operating expenses were $35,821, down from $2,282,224 in 2024. This reduction is primarily due to a decrease in stock-based compensation.

Net Loss: The net loss for the three months ended June 30, 2025, was $29,182, compared to $1,525,907 for the same period in 2024. For the six months ended June 30, 2025, the net loss was $53,637, compared to $2,300,127 in 2024.

Net Loss Per Common Share - Basic and Diluted: The net loss per common share was $(0.00) for the three months ended June 30, 2025, compared to $(5.95) for the same period in 2024. For the six months ended June 30, 2025, it was $(0.00), compared to $(8.97) in 2024.

Business Highlights

Operating Expenses: Operating expenses significantly decreased for both the three and six months ended June 30, 2025, compared to the same periods in 2024. This reduction is primarily attributed to a decrease in stock-based compensation during the current year.

Net Loss: The company recorded a net loss of $29,182 for the three months ended June 30, 2025, and $53,637 for the six months ended June 30, 2025. This is a substantial improvement from the net losses recorded in the same periods in 2024, which were $1,525,907 and $2,300,127, respectively.

Going Concern: The company continues to face challenges regarding its ability to continue as a going concern due to cumulative net losses and a working capital deficit. The company is dependent on securing additional funding through securities sales or external investments to sustain operations.

Management Changes: Significant management changes occurred with the resignation of Ms. Kaur and the appointment of Mr. Nakhwa as President, CEO, and Chairman of the Board. These changes are part of the company's strategic realignment.

Business Direction: The company has shifted its focus from big data analytics in the gaming and financial technology industries to facial recognition technology solutions, following the acquisition of related assets from Mr. Nakhwa.

Future Outlook: The company plans to seek additional financing through private equity offerings to secure funding for operations. However, there is no assurance of success in raising the necessary capital.

SEC Filing: Catalyst Crew Technologies Corp. [ CBBB ] - 10-Q - Aug. 14, 2025