Atlantis Glory Posts Zero Revenue, Deepens Deficit Amid Going Concern Doubts

TL;DR

**AGLY is a zombie stock with zero revenue and mounting debt, avoid unless you're betting on a reverse merger miracle.**

AI Summary

Atlantis Glory Inc. (AGLY) reported no revenue for the three months ended March 31, 2025, consistent with the prior year. The company posted a net loss of $8,954 for the quarter, a slight improvement from the $9,005 net loss in the same period of 2024. General and administrative expenses remained stable at $8,954, down marginally from $9,005 year-over-year. AGLY's total assets remained at $0, while total liabilities increased to $180,383 as of March 31, 2025, from $171,429 at December 31, 2024. This increase was primarily driven by an rise in the amount due to a related party, which grew from $161,029 to $173,983. The company continues to operate with a significant accumulated deficit of $1,116,162 and negative working capital of $180,383, raising substantial doubt about its ability to continue as a going concern. Management relies on continued financial support from stockholders or external financing, with existing stockholders expected to provide necessary cash. The company has been dormant since May 14, 2020, and its previous elevator technology business subsidiaries in China were deconsolidated.

Why It Matters

For investors, AGLY's continued lack of revenue and increasing liabilities signal a highly speculative investment, with its 'going concern' status explicitly questioned. Employees, if any, face extreme job insecurity given the company's dormant status since May 2020 and reliance on related-party funding. Customers are non-existent as the company has no active business operations. The broader market impact is minimal due to AGLY's shell company nature, but it highlights the risks associated with micro-cap stocks that lack fundamental business activity and rely solely on financial maneuvers. Competitively, AGLY is not a player in any market, having deconsolidated its former elevator technology subsidiaries.

Risk Assessment

Risk Level: high — The company explicitly states 'These conditions raise substantial doubt about the Company's ability to continue as a going concern' due to $0 in cash, a net loss of $8,954, negative working capital of $180,383, and an accumulated deficit of $1,116,162 as of March 31, 2025. Its reliance on 'continued financial support from its stockholders or external financing' without assurance of success further underscores the high risk.

Analyst Insight

Investors should exercise extreme caution and likely avoid AGLY given its dormant status, zero revenue, and significant going concern risk. This filing offers no evidence of a viable business plan or path to profitability, making it a highly speculative bet on a future, undefined corporate event.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$0

total Debt

$180,383

net Income

$(8,954)

eps

N/A

gross Margin

N/A

cash Position

$0

revenue Growth

0.0%

Revenue Breakdown

Key Numbers

• $0 — Total Revenue (for the three months ended March 31, 2025 and 2024, indicating no business operations)
• $(8,954) — Net Loss (for the three months ended March 31, 2025, a slight decrease from $(9,005) in 2024)
• $180,383 — Total Liabilities (as of March 31, 2025, an increase from $171,429 at December 31, 2024)
• $(1,116,162) — Accumulated Deficit (as of March 31, 2025, indicating significant historical losses)
• $(180,383) — Negative Working Capital (as of March 31, 2025, highlighting liquidity issues)
• $173,983 — Amount due to a related party (as of March 31, 2025, up from $161,029 at December 31, 2024, showing reliance on related-party financing)
• 603,970,000 — Common Shares Outstanding (as of August 21, 2025, indicating a large share count for a dormant company)
• $0 — Cash and Cash Equivalents (as of March 31, 2025, demonstrating no liquid assets)

Key Players & Entities

• Atlantis Glory Inc. (company) — registrant
• AGLY (company) — stock ticker symbol
• David Lazar (person) — former receiver and officer/director
• Ms. CHENG, Sau Heung (person) — former President, CEO, Secretary, Treasurer, and Director
• Mr. YUM Edward Liang Hsien (person) — current President, Secretary, Treasurer, CEO, CFO, and Director; Managing Director of a related party
• Custodian Ventures (company) — managed by David Lazar, awarded Series A Preferred Stock
• NYJJ (Hong Kong) Limited (company) — seller of Series A Preferred Shares
• Atlantis Glory Company Limited (company) — purchaser of Series A Preferred Shares, controlled by Ms. CHENG, Sau Heung
• Securities and Exchange Commission (regulator) — filing oversight
• FINRA (regulator) — announced symbol change

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company has $0 in cash and cash equivalents and negative working capital of $180,383 as of March 31, 2025. This, coupled with an accumulated deficit of $1,116,162, raises substantial doubt about its ability to continue as a going concern.
• Reliance on Related Party Financing [high — financial]: Total liabilities increased to $180,383 as of March 31, 2025, driven by a rise in the amount due to a related party to $173,983. This highlights a significant dependence on related-party funding for its operations.
• Dormant Operations [high — operational]: Atlantis Glory Inc. has been dormant since May 14, 2020, and its previous subsidiaries were deconsolidated. The company currently reports no revenue, indicating a lack of active business.
• Negative Working Capital [high — financial]: As of March 31, 2025, the company has negative working capital of $180,383, meaning its current liabilities exceed its current assets. This indicates immediate liquidity challenges.

Industry Context

Atlantis Glory Inc. operates in a sector that historically involved elevator technology, but is now dormant. The competitive landscape for such technology is typically characterized by established global players and requires significant capital investment and ongoing R&D. Given AGLY's current state, it is not actively participating in this market.

Regulatory Implications

As a company with substantial doubt about its going concern status and no active operations, AGLY faces scrutiny regarding its disclosures. Continued reliance on related-party financing and a lack of revenue may trigger further regulatory review concerning its financial reporting and viability.

What Investors Should Do

1. Monitor future filings for any signs of operational revival or restructuring, though current indicators are negative.
2. Evaluate the terms and conditions of the related-party financing, as this is the primary source of funding and a key risk.
3. Consider the substantial dilution risk if new equity financing is sought to address the going concern issue, given the large number of shares outstanding.

Key Dates

• 2025-03-31: Quarter End — Reporting period for the 10-Q, showing $0 revenue, a net loss of $8,954, and total liabilities of $180,383.
• 2024-03-31: Prior Year Quarter End — Comparison point for the current quarter, showing a net loss of $9,005 and stable G&A expenses.
• 2024-12-31: Prior Quarter End — Comparison point for balance sheet items, showing total liabilities of $171,429 and related party debt of $161,029.
• 2020-05-14: Company Dormancy Date — Marks the point since which the company has been inactive, highlighting its lack of current operations.

Glossary

Accumulated Deficit

The total cumulative net losses of a company that have not been offset by net income. (AGLY has a significant accumulated deficit of $1,116,162, indicating substantial historical unprofitability.)

Working Capital

The difference between a company's current assets and current liabilities. Positive working capital indicates sufficient liquidity. (AGLY has negative working capital of $180,383, signaling severe liquidity issues.)

Going Concern

An accounting assumption that a business will continue to operate for the foreseeable future. (The company's financial condition raises substantial doubt about its ability to continue as a going concern.)

Deconsolidated

To remove the financial results of a subsidiary from the consolidated financial statements of its parent company. (AGLY's previous subsidiaries were deconsolidated, indicating they are no longer part of the company's reporting structure.)

Related Party

A person or entity that has the ability to control or significantly influence the operating decisions of another entity. (A significant portion of AGLY's liabilities ($173,983) is due to a related party, indicating reliance on internal financing.)

Year-Over-Year Comparison

Compared to the prior year's quarter, Atlantis Glory Inc. reported similar zero revenue and a slightly reduced net loss ($8,954 vs $9,005). However, total liabilities have increased to $180,383 from $171,429 at the end of the prior fiscal year, primarily due to an increase in related-party debt. The company's cash position remains at $0, and its negative working capital has widened, reinforcing concerns about its financial stability.

Key Financial Figures

• $173,983 — of March 31, 2025, the balance included $173,983 in-demand loans advanced to the Company

Filing Documents

• form10-q.htm (10-Q) — 318KB
• ex31-1.htm (EX-31.1) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001641172-25-025029.txt ( ) — 1655KB
• agly-20250331.xsd (EX-101.SCH) — 12KB
• agly-20250331_cal.xml (EX-101.CAL) — 17KB
• agly-20250331_def.xml (EX-101.DEF) — 45KB
• agly-20250331_lab.xml (EX-101.LAB) — 114KB
• agly-20250331_pre.xml (EX-101.PRE) — 92KB
• form10-q_htm.xml (XML) — 123KB

– FINANCIAL INFORMATION

Part I – FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 2 Item 2.

Management's Discussion and Analysis of Financial Conditions and Results of Operations

Management's Discussion and Analysis of Financial Conditions and Results of Operations 11 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 13 Item 4.

Controls and Procedures

Controls and Procedures 14

– OTHER INFORMATION

Part II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A.

Risk Factors

Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 15 Item 4. Mine Safety Disclosures 15 Item 5. Other Information 15 Item 6. Exhibits 16

SIGNATURES

SIGNATURES 17 i PART I FINANCIAL INFORMATION CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Information contained in this quarterly report on Form 10-Q contains "forward-looking statements." These forward-looking statements are contained principally in the section titled "Management's Discussion and Analysis of Financial Condition and Results of Operations," and are generally identifiable by use of the words "may," "will," "should," "expect," "anticipate," "estimate," "believe," "intend" or "project" or the negative of these words or other variations on these words or comparable terminology. The forward-looking statements herein represent our expectations, beliefs, plans, intentions or strategies concerning future events, including, but not limited to: our ability to consummate the Merger, as such term is defined below; the continued services of the Custodian as such term is defined below; our future financial performance; the continuation of historical trends; the sufficiency of our resources in funding our operations; our intention to engage in mergers and acquisitions; and our liquidity and capital needs. Our forward-looking statements are based on assumptions that may be incorrect, and there can be no assurance that any projections or other expectations included in any forward-looking statements will come to pass. Moreover, our forward-looking statements are subject to various known and unknown risks, uncertainties and other factors that may cause our actual results, performance, or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. These risks, uncertainties and other factors include but are not limited to: the risks of limited management, labor, and financial resources; our ability to establish and maintain adequate internal controls; our ability to develop and maintain a market in our securities; and our ability obtain financing, if and when needed, on

View Full Filing

View this 10-Q filing on SEC EDGAR