Ankam's Revenue Soars 600% YOY, But Losses Persist Amid Expansion

TL;DR

**Ankam's revenue exploded, but they're still bleeding cash and relying on related party loans, making it a high-risk bet on future growth.**

AI Summary

Ankam, Inc. (ANKM) reported a significant increase in revenue for the nine months ended August 31, 2025, reaching $240,000, a substantial rise from $33,842 in the prior year period. Despite this revenue growth, the company posted a net loss of $15,445 for the nine months ended August 31, 2025, a considerable improvement from a net loss of $106,636 in the same period of 2024. For the three months ended August 31, 2025, ANKM recorded a net loss of $60,551, contrasting sharply with a net income of $83,905 in the three months ended August 31, 2024, primarily due to a $154,308 debt forgiveness in the prior year. Cash increased significantly to $23,767 as of August 31, 2025, from $57 at November 30, 2024, driven by $43,503 in cash from operating activities. Total assets grew to $280,632 from $178,708, while total liabilities increased to $620,186 from $502,817, largely due to a new related party loan of $449,338. The company's accumulated deficit widened to $513,184 as of August 31, 2025, from $497,739 at November 30, 2024, indicating ongoing operational challenges despite revenue gains. The filing also highlights the acquisition of Apex Intelligence LLC for $158,040 in January 2024 and the establishment of Mei Sheng Corporation Limited in August 2024 to expand into the Asian market.

Why It Matters

Ankam's substantial revenue growth for the nine months ended August 31, 2025, to $240,000 from $33,842, suggests potential for its Expense Minder and Apex currency converter services, which could attract new investors seeking high-growth, early-stage tech plays. However, the widening accumulated deficit to $513,184 and reliance on a $449,338 related party loan raise concerns about long-term financial stability and competitive viability against established expense management and fintech solutions. Employees might face uncertainty given the company's ongoing losses, while customers could benefit from new offerings like the health products sales platform via Mei Sheng Corporation Limited. The broader market will watch if Ankam can translate its revenue momentum into sustained profitability, especially in competitive sectors.

Risk Assessment

Risk Level: high — Ankam, Inc. presents a high risk level due to its significant accumulated deficit of $513,184 as of August 31, 2025, and a total stockholders' deficit of $339,554. The company also has a substantial related party loan of $449,338, which constitutes a large portion of its total liabilities of $620,186, indicating a heavy reliance on insider financing and potential liquidity issues.

Analyst Insight

Investors should exercise extreme caution and conduct thorough due diligence. Given the high accumulated deficit and reliance on related party loans, new investors should avoid ANKM until there is clear evidence of sustained profitability and a reduction in financial leverage. Existing investors should consider divesting.

Financial Highlights

debt To Equity

1.83

revenue

$240,000

operating Margin

-6.45%

total Assets

$280,632

total Debt

$620,186

net Income

-$15,445

eps

N/A

gross Margin

55.04%

cash Position

$23,767

revenue Growth

+610%

Revenue Breakdown

Key Numbers

• $240,000 — Revenue for nine months ended August 31, 2025 (Increased significantly from $33,842 in the prior year period)
• $15,445 — Net loss for nine months ended August 31, 2025 (Improved from a net loss of $106,636 in the prior year period)
• $60,551 — Net loss for three months ended August 31, 2025 (Contrasts with a net income of $83,905 in the prior year period)
• $23,767 — Cash at August 31, 2025 (Increased from $57 at November 30, 2024)
• $513,184 — Accumulated deficit at August 31, 2025 (Widened from $497,739 at November 30, 2024)
• $449,338 — Related party loan at August 31, 2025 (New liability, contributing to increased total liabilities)
• $280,632 — Total assets at August 31, 2025 (Increased from $178,708 at November 30, 2024)
• $620,186 — Total liabilities at August 31, 2025 (Increased from $502,817 at November 30, 2024)
• 4,558,063 — Common shares outstanding at August 31, 2025 (Consistent with prior periods)
• $158,040 — Acquisition cost of Apex Intelligence LLC (Paid in January 2024)

Key Players & Entities

• Ankam, Inc. (company) — Registrant and parent company
• Wang Wen Lung (person) — President, Treasurer, Director, Secretary, and lead investor in the Investor Group
• Maksym Hordieiev (person) — Holder of the Convertible Promissory Note for Apex Intelligence LLC acquisition
• Apex Intelligence LLC (company) — Acquired by Ankam, Inc. for $158,040
• Mei Sheng Corporation Limited (company) — Wholly-owned subsidiary incorporated by Ankam Inc. to expand into the Asian market
• Consummation International Business Co., Ltd (company) — Taiwan company developing a health products sales platform for Mei Sheng Corporation Limited
• Bakur Kalichava (person) — Former President, Treasurer, Director and Secretary of ANKAM INC.
• Ankam LLC (company) — Wholly-owned subsidiary organized in Wyoming, managing MoneySaverApp operations
• MoneySaverApp (company) — Business whose operations were transferred to Ankam LLC
• SEC (regulator) — Securities and Exchange Commission

FAQ

Risk Factors

• Accumulated Deficit [high — financial]: The company has a substantial accumulated deficit of $513,184 as of August 31, 2025, indicating ongoing operational challenges and a history of losses despite recent revenue growth.
• High Liabilities [high — financial]: Total liabilities have increased significantly to $620,186 as of August 31, 2025, primarily due to a new related party loan of $449,338. This raises concerns about the company's financial leverage and repayment capacity.
• Dependence on Mobile Applications [medium — operational]: Ankam, Inc. operates as a technology company specializing in two mobile applications, Expense Minder. This specialization creates a concentrated risk if these products fail to gain market traction or face significant competition.
• Net Loss Despite Revenue Growth [medium — financial]: Despite a substantial revenue increase to $240,000 for the nine months ended August 31, 2025, the company still reported a net loss of $15,445. This suggests that cost management or revenue generation efficiency needs improvement.
• Quarterly Net Loss Reversal [medium — financial]: The three months ended August 31, 2025, resulted in a net loss of $60,551, a sharp contrast to the net income of $83,905 in the prior year period. This was largely due to the absence of a significant debt forgiveness of $154,308 recorded in the prior year.
• International Expansion Risks [medium — operational]: The establishment of Mei Sheng Corporation Limited in August 2024 to expand into the Asian market introduces new operational, regulatory, and market risks associated with international business ventures.
• Low Cash Position [low — financial]: While cash has increased to $23,767 from $57, this is still a relatively low amount, which could pose challenges for short-term operational needs and unexpected expenses.

Industry Context

Ankam, Inc. operates in the technology sector, specifically focusing on mobile applications for expense management. The market for such applications is competitive, with numerous established players and startups vying for user adoption. Key trends include the increasing demand for automated financial tools, integration with other business software, and user-friendly interfaces.

Regulatory Implications

As a publicly traded company, Ankam, Inc. is subject to SEC regulations and reporting requirements. The company must ensure compliance with accounting standards (GAAP) and timely filing of financial reports. Any misstatements or failures in compliance could lead to penalties and reputational damage.

What Investors Should Do

1. Analyze the sustainability of revenue growth.
2. Investigate the terms and implications of the related party loan.
3. Assess the path to profitability.
4. Monitor international expansion efforts.

Key Dates

• 2024-01-01: Acquisition of Apex Intelligence LLC — Indicates strategic expansion and investment in new capabilities, costing $158,040.
• 2024-08-01: Establishment of Mei Sheng Corporation Limited — Marks an effort to expand into the Asian market, signaling international growth ambitions.
• 2025-08-31: Nine Months Ended Financial Reporting — Shows significant revenue growth ($240,000) but also a net loss ($15,445), highlighting mixed operational performance.
• 2025-08-31: Balance Sheet Date — Reveals a substantial increase in total assets to $280,632 and liabilities to $620,186, largely due to a related party loan.

Glossary

Accumulated deficit

The total net losses of a company that have not been offset by net income since its inception. (Indicates the company's historical unprofitability, which has widened to $513,184 as of August 31, 2025.)

Related party loan

A loan provided by or to an individual or entity that has a close relationship with the company, such as a major shareholder or executive. (A new $449,338 related party loan significantly increased Ankam's liabilities, raising questions about the terms and potential conflicts of interest.)

Debt Forgiveness

A reduction or cancellation of a debt obligation by a creditor. (A $154,308 debt forgiveness in the prior year period significantly boosted net income for the three months ended August 31, 2024, making the current year's net loss appear worse by comparison.)

Right-of-use asset, net

An asset representing a lessee's right to use a leased asset over the lease term, recognized under lease accounting standards. (This asset is listed as $0 for both periods, indicating no significant operating leases are currently capitalized on the balance sheet.)

Capitalized software costs, net

Costs incurred in developing or acquiring software that are capitalized as an asset rather than expensed immediately. (Represents investment in the company's technology products, decreasing from $104,523 to $65,012, suggesting amortization or write-downs.)

Year-Over-Year Comparison

Compared to the prior year period, Ankam, Inc. has experienced a dramatic increase in revenue, growing from $33,842 to $240,000 for the nine months ended August 31, 2025. However, this revenue growth has not yet translated into profitability, with the net loss improving from $106,636 to $15,445. Total assets have grown to $280,632 from $178,708, but liabilities have also surged to $620,186 from $502,817, primarily due to a new related party loan. The company's accumulated deficit has widened, indicating persistent financial challenges.

Key Financial Figures

• $0.001 — Section 12(g) of the Act: Common Stock, $0.001 par value Indicate by check mark whet
• $0.60 — onversion price at a per-share value of $0.60. On July 29, 2024, Ankam, Inc. and Mak

Filing Documents

• ankam_i10q-083125.htm (10-Q) — 337KB
• ankam_ex3101.htm (EX-31.1) — 11KB
• ankam_ex3201.htm (EX-32.1) — 4KB
• 0001683168-25-007555.txt ( ) — 2113KB
• ankm-20250831.xsd (EX-101.SCH) — 16KB
• ankm-20250831_cal.xml (EX-101.CAL) — 31KB
• ankm-20250831_def.xml (EX-101.DEF) — 32KB
• ankm-20250831_lab.xml (EX-101.LAB) — 188KB
• ankm-20250831_pre.xml (EX-101.PRE) — 141KB
• ankam_i10q-083125_htm.xml (XML) — 182KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Consolidated Balance Sheets as of August 31, 2025 (Unaudited) and November 30, 2024 4 Consolidated Statements of Operations for the three and nine months ended August 31, 2025 and 2024 (Unaudited) 5 Consolidated Statements of Stockholders' Deficit for the nine months ended August 31, 2025 and 2024 (Unaudited) 6 Consolidated Statements of Cash Flows for the nine months ended August 31, 2025 and 2024 (Unaudited) 7 Notes to the Consolidated Financial Statements (Unaudited) 8 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 17 PART II OTHER INFORMATION: 18 Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 18 Item 6. Exhibits 18

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) The accompanying interim financial statements of Ankam, Inc. ("the Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been omitted pursuant to such rules and regulations. The interim financial statements should be read in conjunction with the Company's latest annual financial statements. In the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 3 ANKAM, INC. CONSOLIDATED BALANCE SHEETS August 31, 2025 November 30, 2024 ASSETS CURRENT ASSETS: Cash $ 23,767 $ 57 Accounts receivable 55,000 – Prepaid expenses 42,000 – Right-of-use asset, net – – Director C/A 94,853 74,128 Total current assets 215,620 74,185 Capitalized software costs, net 65,012 104,523 TOTAL ASSETS $ 280,632 $ 178,708 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable and accrued expenses $ 99,916 $ 3,479 Deferred revenue 20,000 – Related party loan 449,338 – Amount due to director 50,932 499,338 Lease liability – – Total current liabilities 620,186 502,817 Total liabilities 620,186 502,817 Commitments and contingencies (Note 8) – – STOCKHOLDERS' DEFICIT: Common stock: $ 0.001 par value, 75,000,000 shares authorized, 4,558,063 shares issued and outstanding 4,558 4,558 Additional paid in capital 169,072 169,072 Accumulated deficit ( 513,184 ) ( 497,739 ) Total stockholders' deficit ( 339,554 ) ( 324,109 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 280,6

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

Management's Discussion and Analysis of Financial Condition and Results of Operations DESCRIPTION OF BUSINESS Business Strategy Ankam, Inc. (the "Company") was incorporated in August 2018 under the laws of the State of Nevada. Ankam, Inc. operates as a technology company specializing in the development of two mobile applications. The Company's business lies in possessing and developing Expense Minder, a proprietary product designed to streamline and manage expense reporting for users. The Company conceptualizes and is constructing an application that facilitates a user's expense management. Our focus extends to designing and developing a mobile application designed to streamline and automate the tracking, and submission of user's expenses. The application will feature categorization of expenses, saving goals, bill reminders, and customizable categories. On November 29, 2023, Ankam, Inc. entered into a material definitive agreement by establishing a wholly-owned subsidiary, Ankam LLC. Ankam LLC was organized in Wyoming and is auth

View Full Filing

View this 10-Q filing on SEC EDGAR