Atlantis Glory Remains Dormant, Reports Continued Losses and Going Concern Doubt

TL;DR

**AGLY is a zombie shell company with no operations, relying on related party loans to stay afloat; avoid unless you're betting on a highly speculative reverse merger.**

AI Summary

Atlantis Glory Inc. (AGLY) reported no revenue for the three and nine months ended September 30, 2025, consistent with the prior year. The company posted a net loss of $7,675 for the three months ended September 30, 2025, and a net loss of $23,854 for the nine months ended September 30, 2025, slightly higher than the $23,835 loss for the same period in 2024. General and administrative expenses remained stable at $23,854 for the nine-month period in 2025 compared to $23,835 in 2024. AGLY has been dormant since May 14, 2020, and its Chinese subsidiaries were deconsolidated. The company's total liabilities increased to $195,283 as of September 30, 2025, from $171,429 at December 31, 2024, primarily due to an increase in amounts due to a related party, which rose to $187,333 from $161,029. AGLY has an accumulated deficit of $1,131,062 and negative working capital of $195,283, raising substantial doubt about its ability to continue as a going concern, relying on continued financial support from stockholders or external financing.

Why It Matters

For investors, Atlantis Glory Inc.'s continued dormancy and lack of revenue signal a high-risk, speculative investment, with its 'shell company' status indicating potential for a reverse merger rather than organic growth. Employees are not directly impacted as the company is dormant, and customers are non-existent given its operational status. The broader market implications are minimal, but it highlights the prevalence of shell companies on exchanges, which can be used for various corporate actions. Competitively, AGLY is not a player in any market, having deconsolidated its elevator technology subsidiaries.

Risk Assessment

Risk Level: high — The company has reported no revenue for the three and nine months ended September 30, 2025, and has been dormant since May 14, 2020. It has an accumulated deficit of $1,131,062 and negative working capital of $195,283 as of September 30, 2025, leading management to explicitly state "These conditions raise substantial doubt about the Company's ability to continue as a going concern."

Analyst Insight

Investors should exercise extreme caution and consider AGLY a highly speculative investment. Given its dormant status, lack of revenue, and going concern warning, it is suitable only for those willing to bet on a future reverse merger or significant capital infusion, which carries substantial risk.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$0

total Debt

$195,283

net Income

$(23,854)

eps

$0.00

gross Margin

N/A

cash Position

N/A

revenue Growth

N/A

Key Numbers

• $0 — Total Revenue (for the three and nine months ended September 30, 2025, indicating no operational activity)
• $(7,675) — Net Loss (for the three months ended September 30, 2025, a slight increase from $(7,350) in 2024)
• $(23,854) — Net Loss (for the nine months ended September 30, 2025, consistent with $(23,835) in 2024)
• $195,283 — Total Current Liabilities (as of September 30, 2025, an increase from $171,429 at December 31, 2024)
• $187,333 — Amount Due to a Related Party (as of September 30, 2025, up from $161,029 at December 31, 2024)
• $(1,131,062) — Accumulated Deficit (as of September 30, 2025, indicating significant historical losses)
• 603,970,000 — Common Shares Outstanding (as of October 24, 2025, unchanged from December 31, 2024)

Key Players & Entities

• Atlantis Glory Inc. (company) — registrant
• 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
• NYJJ (Hong Kong) Limited (company) — seller of Series A Preferred Shares
• Atlantis Glory Company Limited (company) — purchaser of Series A Preferred Shares
• SEC (regulator) — Securities and Exchange Commission
• FINRA (regulator) — Financial Industry Regulatory Authority

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: AGLY faces substantial doubt about its ability to continue as a going concern due to its accumulated deficit of $1,131,062 and negative working capital of $195,283 as of September 30, 2025. The company has had no revenue since May 14, 2020, and relies on continued financial support from stockholders or external financing.
• Increasing Related Party Debt [medium — financial]: Total liabilities increased to $195,283 as of September 30, 2025, from $171,429 at December 31, 2024. This increase is primarily driven by a rise in amounts due to a related party, which grew from $161,029 to $187,333, indicating a growing reliance on related party financing.
• Dormant Operations [high — operational]: The company has been dormant since May 14, 2020, with no revenue reported for the three and nine months ended September 30, 2025, and 2024. This lack of operational activity raises questions about future business prospects and the sustainability of the company.
• Deconsolidation of Subsidiaries [medium — operational]: AGLY's Chinese subsidiaries were deconsolidated. While specific reasons are not detailed, this action can impact the overall financial reporting and operational control of the company.

Industry Context

Atlantis Glory Inc. appears to be in a dormant state with no reported revenue or operational activity. The broader industry context for such companies, especially those with significant accumulated deficits and reliance on related party financing, is often one of restructuring, seeking new investment, or winding down operations. Without active business segments, it's difficult to assess its competitive landscape.

Regulatory Implications

The company's financial condition, particularly the substantial doubt about its going concern status and the significant related party balances, may attract scrutiny from regulatory bodies. Failure to address these issues could lead to delisting or further regulatory actions.

What Investors Should Do

1. Seek clarification on the future operational plans and strategy of Atlantis Glory Inc. given its dormant status.
2. Understand the terms and conditions of the related party debt and the likelihood of repayment or restructuring.
3. Evaluate the potential for future financing or equity infusions required to address the going concern issue.
4. Assess the risks associated with the deconsolidation of Chinese subsidiaries and any potential impact on future reporting.

Key Dates

• 2025-09-30: End of Q3 2025 reporting period — No revenue reported, net loss of $7,675 for the quarter, total liabilities at $195,283, accumulated deficit at $1,131,062.
• 2024-09-30: End of Q3 2024 reporting period — No revenue reported, net loss of $7,350 for the quarter.
• 2024-12-31: End of Fiscal Year 2024 — Total liabilities were $171,429, with amounts due to a related party at $161,029.
• 2020-05-14: Company became dormant — Marks the point from which AGLY has ceased operational activity and reported no revenue.

Glossary

Accumulated deficit

The cumulative net losses of a company that have not been offset by net income. It represents a negative balance in retained earnings. (AGLY has a significant accumulated deficit of $1,131,062, indicating substantial historical unprofitability.)

Working capital

The difference between a company's current assets and current liabilities. Positive working capital indicates a company has enough liquid assets to cover its short-term obligations. (AGLY has negative working capital of $195,283, highlighting its short-term liquidity challenges.)

Going concern

A business's ability to continue operating for the foreseeable future without the threat of liquidation. Auditors assess this based on financial health and operational viability. (The company's financial state 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 Chinese subsidiaries have been deconsolidated, meaning their financial performance is no longer included in AGLY's statements.)

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 ($187,333) is owed to a related party.)

Year-Over-Year Comparison

Compared to the prior year's nine-month period, Atlantis Glory Inc. reported a net loss of $23,854 for the nine months ended September 30, 2025, which is consistent with the $23,835 loss in the prior year. Total liabilities have increased to $195,283 from $171,429, primarily due to a rise in amounts due to a related party. General and administrative expenses remained stable. The company continues to show no revenue and a significant accumulated deficit, reinforcing the going concern doubts.

Filing Documents

• form10-q.htm (10-Q) — 394KB
• ex31-1.htm (EX-31.1) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-25-019159.txt ( ) — 1799KB
• agly-20250930.xsd (EX-101.SCH) — 12KB
• agly-20250930_cal.xml (EX-101.CAL) — 17KB
• agly-20250930_def.xml (EX-101.DEF) — 48KB
• agly-20250930_lab.xml (EX-101.LAB) — 116KB
• agly-20250930_pre.xml (EX-101.PRE) — 95KB
• form10-q_htm.xml (XML) — 153KB

– 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 14 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

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS: Balance Sheets 3 4 5 6 Notes to the Unaudited Financial Statements 7 2 ATLANTIS GLORY INC. Balance Sheets September 30, 2025 December 31, 2024 (Unaudited) (Audited) Asset Total Asset - - Liabilities and Stockholders' Deficit Current Liabilities Accrued expenses and other liabilities $ 7,950 $ 10,400 Amount due to a related party 187,333 161,029 Total current liabilities 195,283 171,429 Total Liabilities 195,283 171,429 Stockholders' Deficit Preferred stock $ 0.001 par value, 10,000,000 shares authorized, 10,000,000 and 10,000,000 shares outstanding as of September 30, 2025 and December 31, 2024, respectively 10,000 10,000 Common Stock $ 0.001 par value, 990,000,000 shares authorized, 603,970,000 shares and 603,970,000 shares outstanding as of September 30, 2025 and December 31, 2024, respectively 603,970 603,970 Additional paid in capital 321,809 321,809 Accumulated deficit ( 1,131,062 ) ( 1,107,208 ) Total stockholders' deficit ( 195,283 ) ( 171,429 ) Total liabilities and stockholders' deficit $ - $ - The accompanying notes are an integral part of these financial statements 3 ATLANTIS GLORY INC. of Operations and Comprehensive Loss for the three and nine months ended September 30, 2025 and 2024 (Unaudited) 2025 2024 2025 2024 For the Three Months Ended For the Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Revenue Total revenue, net $ - $ - $ - $ - Operating expenses General and administrative expenses 7,675 7,350 23,854 23,835 Total operating expenses 7,675 7,35

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View this 10-Q filing on SEC EDGAR