BMPA Amends 10-Q for Clerical Fixes Amidst Zero Revenue, Going Concern Doubt

TL;DR

**BMPA is a zombie stock, fixing typos while bleeding cash and generating zero revenue; avoid at all costs.**

AI Summary

BMP AI Technologies, Inc. (BMPA) filed a 10-Q/A to correct clerical and formatting errors in its Q2 2025 report, specifically updating signature blocks to reflect current CEO Vighnesh Dobale and rectifying an EDGAR conversion error in the cash balance on the statement of cash flows. The company reported no revenue for the three and six months ended June 30, 2025, and June 30, 2024. Net loss for the three months ended June 30, 2025, was $(133,270), a significant improvement from $(730,207) in the prior year, primarily due to the absence of a $(720,000) loss on acquisition of intangible assets in the current period. For the six months ended June 30, 2025, the net loss was $(154,667), compared to $(767,231) in the same period of 2024. Operating expenses increased substantially, with general and administrative expenses rising from $4,730 to $107,183 for the three months ended June 30, 2025, and professional fees increasing from $1,545 to $19,500 in the same period. The company continues to operate with a significant accumulated deficit of $(4,120,024) as of June 30, 2025, and has no cash, raising substantial doubt about its ability to continue as a going concern.

Why It Matters

This 10-Q/A filing is critical for investors as it clarifies previous reporting errors, though it doesn't alter the underlying dire financial state of BMPA. The company's continued lack of revenue and substantial accumulated deficit of $(4,120,024) as of June 30, 2025, signal severe operational challenges and a high risk of business failure. For employees and customers, the 'going concern' warning indicates potential instability and uncertainty regarding future operations or service continuity. In a competitive AI market, BMPA's inability to generate revenue from its 'Multidoc AI' asset, acquired in May 2024, puts it far behind rivals and suggests a significant competitive disadvantage.

Risk Assessment

Risk Level: high — The risk level is high due to the company's explicit 'going concern' warning, stating a net loss of $(154,667) for the six months ended June 30, 2025, and an accumulated deficit of $(4,120,024). Furthermore, the balance sheet shows $0 cash as of June 30, 2025, and December 31, 2024, indicating severe liquidity issues and complete dependence on external funding, which is not assured.

Analyst Insight

Investors should exercise extreme caution and likely avoid BMPA stock. The company's zero revenue, significant accumulated deficit, and explicit 'going concern' warning suggest a high probability of further dilution or business failure. Current shareholders should evaluate their position given the substantial risks outlined.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$0

total Debt

$767,764

net Income

$(133,270)

eps

$0.00

gross Margin

N/A

cash Position

$0

revenue Growth

N/A

Revenue Breakdown

Key Numbers

• $0 — Revenue (for the three and six months ended June 30, 2025 and 2024)
• $(133,270) — Net loss (for the three months ended June 30, 2025)
• $(730,207) — Net loss (for the three months ended June 30, 2024)
• $(154,667) — Net loss (for the six months ended June 30, 2025)
• $(767,231) — Net loss (for the six months ended June 30, 2024)
• $(4,120,024) — Accumulated deficit (as of June 30, 2025)
• $0 — Cash balance (as of June 30, 2025, and December 31, 2024)
• $107,183 — General and administrative expenses (for the three months ended June 30, 2025, up from $4,730 in prior year)
• 59,790,183 — Common stock shares outstanding (as of August 14, 2025)
• 9,000,000 — Series A Preferred Stock shares (issued for Multidoc AI acquisition, convertible to 50 shares of Common Stock each)

Key Players & Entities

• BMP AI Technologies, Inc. (company) — registrant of the 10-Q/A filing
• Vighnesh Dobale (person) — current Chief Executive Officer and Principal Financial Officer
• Charandeep Gopishetty (person) — former President, CEO, Treasurer, CFO, and Director who resigned on May 16, 2024
• Frank Gomez (person) — current Sole-Officer and Director, and seller of Multidoc AI assets
• Grupo FG SAS (company) — alter-ego of Frank Gomez, holding Multidoc AI assets
• Multidoc AI (company) — proprietary Artificial Intelligence system acquired by BMPA
• Sarbanes-Oxley Act of 2002 (regulator) — act requiring certifications by officers
• SEC (regulator) — Securities and Exchange Commission
• Nevada (regulator) — state of incorporation for BMP AI Technologies, Inc.
• Henry Chang Manayan (person) — former sole-officer and director who resigned on March 7, 2023

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company has $0 cash as of June 30, 2025, and a significant accumulated deficit of $(4,120,024). This raises substantial doubt about its ability to continue as a going concern.
• Lack of Revenue Generation [high — operational]: BMP AI Technologies, Inc. reported no revenue for the three and six months ended June 30, 2025, and June 30, 2024. This indicates a complete lack of commercialization or sales activity.
• Significant Increase in Operating Expenses [medium — operational]: General and administrative expenses surged from $4,730 to $107,183 for the three months ended June 30, 2025. Professional fees also increased from $1,545 to $19,500 in the same period, indicating rising operational costs without corresponding revenue.
• Negative Equity Position [high — financial]: The company has a total stockholders' deficit of $(767,764) as of June 30, 2025, primarily driven by an accumulated deficit of $(4,120,024). This negative equity highlights the company's financial distress.
• Past Restructuring and Unwinding Agreements [medium — legal]: The company was involved in unwinding a purchase agreement related to Series A Preferred Stock and entered into a new asset purchase agreement for AI assets. These complex transactions can introduce legal and integration risks.

Industry Context

BMP AI Technologies operates in the rapidly evolving Artificial Intelligence sector, specifically focusing on AI assistants for document analysis. This market is highly competitive, with numerous established tech giants and emerging startups vying for market share. Key trends include the increasing demand for AI-powered automation, natural language processing advancements, and the ethical considerations surrounding AI deployment.

Regulatory Implications

As a publicly traded company, BMP AI Technologies is subject to SEC regulations and reporting requirements. The filing of a 10-Q/A to correct errors underscores the importance of accurate and timely disclosures. Any misstatements or failures to comply with reporting standards could lead to SEC scrutiny and penalties.

What Investors Should Do

1. Monitor cash burn and future funding rounds.
2. Evaluate the progress of Multidoc AI commercialization.
3. Assess the impact of increased operating expenses.

Key Dates

• 2025-06-30: End of Q2 2025 — Financial results for the period show no revenue, a net loss of $(133,270), and $0 cash, reinforcing going concern doubts.
• 2024-05-16: Unwind Agreement and Asset Purchase Agreement — The company unwound a previous transaction and entered into a new agreement for AI assets, indicating significant corporate restructuring and potential integration challenges.
• 2023-03-07: Appointment of Charandeep Gopishetty as CEO — Marks a change in leadership, with Mr. Gopishetty taking over as sole officer and director.

Glossary

Accumulated deficit

The total net losses of a company that have not been offset by net income since its inception. (BMP AI Technologies, Inc. has a substantial accumulated deficit of $(4,120,024) as of June 30, 2025, indicating a history of unprofitability.)

Going concern

A business's ability to continue operating for the foreseeable future without the threat of liquidation. (The company's $0 cash balance and significant accumulated deficit raise substantial doubt about its ability to continue as a going concern.)

EDGAR

Electronic Data Gathering, Analysis, and Retrieval system used by the U.S. Securities and Exchange Commission (SEC) for companies to submit their financial filings. (The 10-Q/A filing indicates a correction of an EDGAR conversion error, highlighting the importance of accurate electronic submissions.)

Series A Preferred Stock

A class of preferred stock that typically has rights and privileges senior to common stock, often issued in private placements or acquisitions. (9,000,000 shares of Series A Preferred Stock were issued for the Multidoc AI acquisition and are convertible into common stock, impacting potential future dilution.)

Multidoc AI

An artificial intelligence system designed to help businesses create AI assistants capable of extracting information from internal documents to answer queries. (This is the core AI asset acquired by the company, representing its primary business focus.)

Year-Over-Year Comparison

BMP AI Technologies' Q2 2025 results, as amended, show a significant reduction in net loss for the three-month period to $(133,270) from $(730,207) in the prior year, primarily due to the absence of a large acquisition-related expense. However, this improvement is overshadowed by the company's continued lack of revenue ($0 in both periods) and a critical $0 cash position as of June 30, 2025. Operating expenses have dramatically increased, particularly general and administrative costs, from $4,730 to $107,183 year-over-year for the three-month period, exacerbating the going concern risk.

Filing Documents

• nbbi_10qa.htm (10-Q/A) — 487KB
• nbbi_ex311.htm (EX-31.1) — 12KB
• nbbi_ex321.htm (EX-32.1) — 5KB
• 0001477932-25-008448.txt ( ) — 2257KB
• vira-20250630.xsd (EX-101.SCH) — 27KB
• vira-20250630_lab.xml (EX-101.LAB) — 142KB
• vira-20250630_cal.xml (EX-101.CAL) — 24KB
• vira-20250630_pre.xml (EX-101.PRE) — 115KB
• vira-20250630_def.xml (EX-101.DEF) — 70KB
• nbbi_10qa_htm.xml (XML) — 246KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Item 1. Condensed Financial Statements. 5 CONDENSED BALANCE SHEETS 5 CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) 6 CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) 8 CONDENSED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) 7 NOTES TO CONDENSED FINANCIAL STATEMENTS (UNAUDITED) 9 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. 15 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk. 17 Item 4.

Controls and Procedures

Controls and Procedures. 17

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1. Legal Proceedings. 19 Item 1A. Risk Factors. 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 19 Item 3. Defaults Upon Senior Securities. 19 Item 4. Mine Safety Disclosures. 19 Item 5. Other Information. 19 Item 6. Exhibits. 20 2 Table of Contents Explanatory Note This Amendment No. 1 to the Quarterly Report on Form 10-Q for the period ended June 30, 2025 (the "Amendment") is being filed to correct certain clerical and formatting errors contained in the originally filed Form 10-Q. First, in the EDGARized version of the original filing, the certification pages inadvertently included outdated signature blocks referencing a former officer of the Company. This Amendment updates Item 6 — Exhibits to include the correct certifications executed by the Company's current Chief Executive Officer and Principal Financial Officer, Mr. Vighnesh Dobale, as required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002. Second, the Company identified an EDGAR conversion error that caused the cash balance presented in the statement of cash flows to appear inconsistent with the cash balance presented on the balance sheet. The underlying accounting records reconcile correctly, and the discrepancy was limited solely to the manner in which the information was rendered in the EDGARized version of the filing. This Amendment corrects that clerical presentation error. No other changes have been made to the Form 10-Q as originally filed. This Amendment does not modify, update, or revise any other financial statements, disclosures, or information contained in the original filing. The financial information continues to reflect the facts and circumstances as of the date of the original Form 10-Q. 3 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION This quarterly report on Form 10-Q and other publicly available documents, including the documents incorporated h

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Financial Statements

Item 1. Condensed Financial Statements. NEURALBASE AI LTD . AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) June 30, 2025 December 31, 2024 ASSETS Current assets Cash - - Total current assets - - Total assets - - LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities Accounts payable and accrued liabilities 200,949 201,628 Advances 127,650 127,650 Advances - Related party 80,680 80,680 Judgement payable 103,000 103,000 Notes payable - related party 7,000 7,000 Notes payable 202,485 143,039 Total current liabilities 721,764 662,997 Notes payable, net of debt discount 46,000 46,000 Total liabilities 767,764 708,997 Stockholders' deficit Preferred stock, $ 0.0001 par value, 480,000,000 shares authorized, 0 and 0 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively - - Class A Preferred stock, $ 0.0001 par value, 10,000,000 shares authorized, 9,003,774 and 9,003,774 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 900 900 Class B Preferred stock, $ 0.0001 par value, 10,000,000 shares authorized, 3,500,000 and 3,500,000 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 250 350 Common stock, $ 0.0001 par value, 2,500,000,000 shares authorized, 200,183 and 200,183 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 5,979 20 Additional paid in capital 3,345,131 3,255,090 Accumulated deficit ( 4,120,024 ) ( 3,965,357 ) Total stockholders' deficit ( 767,764 ) ( 708,997 ) Total liabilities and stockholders' deficit - - See accompanying notes to the consolidated financial statements 5 Table of Contents NEURALBASE AI LTD . AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) For the three months ended For the six months ended June 30, 2025 June 30, 2024 June 30, 2025 June

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS June 30, 2025 NOTE 1 – NATURE OF BUSINESS AND OPERATIONS Organization NEURALBASE AI LTD. AND SUBSIDIARIES (formerly known as Viratech Corp, Imperia Entertainment, Soleil Film and Television, Inc. Ameridream Entertainment, Inc. and Mc Smoothie's, Inc. (the Company) was incorporated under the laws of the state of California as Acquisition Solutions on March 21, 2000. It became a Nevada corporation on July 18, 2006. On March 7, 2023, the Company received notice of resignation from Mr. Henry Chang Manayan ("Mr. Manayan") sole-officer and director of the Company (the "Resignation"), Mr. Manayan stated that his resignation was not the result of any disagreements between himself and the Company relating to the Company's operations, policies, or practices. Effective immediately upon the resignation of Mr. Manayan, the Company appointed Mr. Charandeep Gopishetty ("Mr. Gopishetty") to serve as President, Chief Executive Officer, Treasurer, Chief Financial Officer, and Director of the Company to serve until the next annual meeting of the Company or until his respective successor is duly appointed. Mr. Gopishetty accepted the appointments, effective as of March 7, 2023. On May 16, 2024, the Company, Gopishetty, and Blackwell entered an Unwind Agreement and Mutual Release (the "Unwind Agreement"), for the purpose of unwinding, and rendering void, the Purchase Agreement ("Original APA") executed by and between the Company, Gopishetty, and Blackwell. The Parties have mutually and voluntarily agreed to unwind the transaction contemplated by the Original APA. Accordingly, the Company shall return all the Assets acquired pursuant to the terms and conditions of the Original APA once Gopishetty has cancelled, and returned to the Company's treasury, the 9,000,000 restricted shares of the Company's Series A Preferred Stock received per the terms of the Original APA. Each of Company, Gopishetty, and Blackwell have made other representat

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