Elventix Technology Corp faces substantial doubt about its ability to continue as a going concern due to recurring losses, a working capital deficit, and an upcoming debt maturity, despite recent deb…
SEC EDGAR, 2026-10-14: 10-Q — "substantial doubt"
Elventix Technology Corp faces substantial doubt about its ability to continue as a going concern due to recurring losses, a working capital deficit, and an upcoming debt maturity, despite recent debt forgiveness.
Company: Elventix Technology Corp (ELVX) Filed: 2026-10-14, 10-Q (Item 2) Phrase: "substantial doubt" — "These conditions raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date these financial statements are issued." What the filing says: Elventix Technology Corp reported a net loss of $11,828 for the three months ended August 31, 2026, an accumulated deficit of $120,583, and a working capital deficit of $173,127 as of August 31, 2026. A promissory note payable of $163,000 was due on November 14, 2026. The company anticipates further losses. Management plans to finance operations using available cash, API subscription revenues, loans from its director, and/or a private offering of common stock. Subsequent to the reporting period, on September 30, 2026, the company's director and lender, Tallis Mateus Da Silva, forgave an outstanding related party loan of $163,584. Two ways it goes: A. The company secures sufficient funding through API subscriptions, director loans, or a private stock offering to meet its obligations and achieve profitable operations. B. The company fails to secure adequate funding or generate profitable operations, leading to an inability to meet its obligations as they become due. Next date: November 14, 2026 (promissory note maturity) Watch: The company's ability to generate sufficient API subscription revenue or secure additional financing to cover its operational expenses and the remaining promissory note.