Galaxy Enterprises Faces Going Concern Doubt Amid Zero Revenue, $86K Deficit

TL;DR

**GLEI is a pre-revenue startup with a 'going concern' warning; avoid until they prove a viable business model and secure significant funding.**

AI Summary

Galaxy Enterprises Inc. (GLEI) filed a 10-K/A for the fiscal year ended July 31, 2023, revealing it has not yet commenced business operations and incurred an accumulated deficit of $86,779 since its incorporation on March 24, 2021. The company generated no revenue from August 1, 2022, to July 31, 2023, and reported a net loss of $7,651, primarily from general and administrative fees. GLEI has raised $83,400 through common stock sales to fund registration and working capital. As of July 31, 2023, current assets were $15,758, including $758 in cash, against total liabilities of $19,138. The auditor has expressed substantial doubt about GLEI's ability to continue as a going concern due to its lack of profitable operations and dependence on future financing. The company plans to offer real estate management and consulting services in Las Vegas, Nevada, leveraging its president's experience in commercial and multi-unit residential properties, and will require additional capital to expand operations beyond its sole officer and director, Gregory Navone.

Why It Matters

This 10-K/A highlights Galaxy Enterprises Inc.'s precarious financial position, with no revenue and an accumulated deficit, raising significant red flags for potential investors. The auditor's 'going concern' warning signals high risk, suggesting the company may struggle to meet its obligations without substantial new capital. For employees, the lack of operational commencement means no current job opportunities beyond the sole officer. Customers in the Las Vegas real estate market should note that GLEI is a nascent player, competing against established giants like Greystar Real Estate Partners and CBRE Group, making its market entry challenging.

Risk Assessment

Risk Level: high — The risk level is high because Galaxy Enterprises Inc. has not commenced business operations, generated no revenue for the fiscal year ended July 31, 2023, and incurred an accumulated deficit of $86,779. Furthermore, the auditor has expressed 'substantial doubt' about the company's ability to continue as a going concern, indicating severe financial instability.

Analyst Insight

Investors should exercise extreme caution and avoid investing in GLEI at this stage. The company is pre-revenue, has a significant accumulated deficit, and faces a going concern warning, necessitating a wait-and-see approach until it demonstrates a viable business model, secures substantial additional capital, and achieves profitable operations.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$15,758

total Debt

$19,138

net Income

-$7,651

eps

N/A

gross Margin

N/A

cash Position

$758

revenue Growth

N/A

Revenue Breakdown

Key Numbers

• $86,779 — Accumulated Deficit (Incurred from March 24, 2021, to July 31, 2023, indicating significant losses before operations commenced.)
• $0 — Revenue (No revenue generated from August 1, 2022, to July 31, 2023, highlighting the pre-operational status.)
• $7,651 — Net Loss (Incurred from August 1, 2022, to July 31, 2023, primarily from general and administrative fees.)
• $83,400 — Capital Raised (Through the sale of common stock, used for registration and working capital.)
• $15,758 — Current Assets (As of July 31, 2023, including $758 in cash and $15,000 in prepayments and deposits.)
• $19,138 — Total Liabilities (As of July 31, 2023, consisting entirely of accounts payable and accrued liabilities.)
• 4,170,000 — Shares Issued and Outstanding (As of October 9, 2025.)
• $74,400 — Market Value of Non-Affiliate Equity (As of January 31, 2023, based on common stock price.)
• 19% — Projected Population Growth (Clark County population expected to grow from 2.28 million in 2018 to 2.71 million in 2030, indicating potential market demand.)
• 30% — Projected Residential Construction Increase (Forecasted by Cumming Corporation for 2021 in the Las Vegas area, driven by multi-family residences.)

Key Players & Entities

• Galaxy Enterprises Inc. (company) — Registrant filing 10-K/A
• Gregory Navone (person) — Sole officer and director, president, holds Nevada real estate broker's license
• SEC (regulator) — Securities and Exchange Commission
• Wyoming (regulator) — State of incorporation
• Las Vegas, Nevada (location) — Intended primary market for operations
• Greystar Real Estate Partners (company) — Major competitor in real estate management
• Lincoln Property Company (company) — Major competitor in real estate management
• CBRE Group (company) — Major competitor in real estate management
• FINRA (regulator) — Financial Industry Regulatory Authority, approves trading applications
• University of Nevada – Las Vegas Center for Business and Economic Research (company) — Source of market data for Clark County

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company has incurred an accumulated deficit of $86,779 since incorporation on March 24, 2021, and generated no revenue in the fiscal year ended July 31, 2023. The auditor has expressed substantial doubt about its ability to continue as a going concern due to lack of profitable operations and dependence on future financing.
• Dependence on Future Financing [high — financial]: The company has raised $83,400 through common stock sales and requires additional capital to fund operations and expansion. There is no guarantee that future financing will be available on acceptable terms, as it is subject to market factors and investor sentiment.
• Pre-Operational Status [high — operational]: Galaxy Enterprises Inc. has not yet commenced business operations as of July 31, 2023. The company is still in the process of raising initial capital, which delays the pursuit of its business plan for real estate management and consulting services.
• Limited Personnel [medium — operational]: The company currently operates with a sole officer and director, Gregory Navone. Expansion beyond this single individual will require additional capital and recruitment efforts.
• Market Competition [medium — market]: The company plans to offer services in the Las Vegas, Nevada area, which is a competitive market for real estate management and consulting. Success will depend on differentiating services and attracting clients amidst existing providers.

Industry Context

Galaxy Enterprises Inc. aims to enter the real estate management and consulting sector in Las Vegas, Nevada. This market is influenced by projected population growth in Clark County (19% by 2030) and a forecasted increase in residential construction (30% in 2021), suggesting potential demand for its services. However, the sector is competitive, requiring differentiation and client acquisition strategies.

Regulatory Implications

As a newly formed entity seeking to commence operations, GLEI faces regulatory hurdles related to business licensing, real estate brokerage regulations in Nevada, and securities compliance for its stock sales. Failure to comply with these regulations could result in fines or operational restrictions.

What Investors Should Do

1. Monitor future financing rounds closely.
2. Evaluate the business plan's viability and execution strategy.
3. Assess the management team's experience and capacity.

Key Dates

• 2021-03-24: Incorporation of Galaxy Enterprises Inc. — Marks the beginning of the company's existence, prior to commencing business operations.
• 2023-07-31: Fiscal Year End — Reporting period for the 10-K/A filing, showing no revenue and a net loss, with substantial doubt about going concern.
• 2023-10-09: Shares Issued and Outstanding — Indicates the current equity structure of the company.

Glossary

Accumulated Deficit

The total net losses a company has incurred since its inception, minus any net income. (Indicates that GLEI has not been profitable since its incorporation, with $86,779 in losses by July 31, 2023.)

Going Concern

The assumption that a company will continue to operate for the foreseeable future without the threat of liquidation. (The auditor has expressed substantial doubt about GLEI's ability to continue as a going concern due to its lack of operations and financing needs.)

General and Administrative Fees

Costs incurred for the overall management and administration of a business, not directly tied to production or sales. (These fees were the primary driver of GLEI's $7,651 net loss for the fiscal year ended July 31, 2023.)

Prepayments and Deposits

Expenses paid in advance or funds held as security, which are considered current assets. (These constitute a significant portion ($15,000) of GLEI's current assets as of July 31, 2023.)

Accounts Payable

Money owed by a company to its suppliers for goods or services purchased on credit. (Along with accrued liabilities, these form the entirety of GLEI's total liabilities of $19,138 as of July 31, 2023.)

Accrued Liabilities

Expenses that have been incurred but not yet paid. (These, along with accounts payable, constitute all of GLEI's liabilities as of July 31, 2023.)

Year-Over-Year Comparison

This 10-K/A filing for the fiscal year ended July 31, 2023, indicates that Galaxy Enterprises Inc. remains in its pre-operational phase. Unlike a prior period (presumably when the company was just incorporated), it has now incurred an accumulated deficit of $86,779 and a net loss of $7,651 for the current year, primarily from administrative fees. No revenue has been generated, and the company continues to rely on equity sales for funding, with the auditor reiterating substantial doubt about its going concern status.

Key Financial Figures

• $0.001 — Exchange Act: Common Stock, Par value $0.001 per share Indicate by check mark if th
• $86,779 — have incurred an accumulated deficit of $86,779. To date, we have raised an aggregate o
• $83,400 — To date, we have raised an aggregate of $83,400 through the sale of our common stock. P
• $7,651 — July 31, 2023, we incurred net loss of $7,651 consisting entirely of general and admi
• $15,758 — of July 31, 2023, our current assets of $15,758 consisted of $758 in cash and $15,000 i
• $758 — current assets of $15,758 consisted of $758 in cash and $15,000 in prepayments and
• $15,000 — f $15,758 consisted of $758 in cash and $15,000 in prepayments and deposits and our tot
• $19,138 — deposits and our total liabilities were $19,138, which consisted entirely of accounts p
• $14,037 — t cash used in operating activities was $14,037 consisting of our net loss for the peri
• $6,386 — 1 and a decrease of accounts payable of $6,386. 7 Cash Flows from Investing Activiti

Filing Documents

• glei-20230731_10ka.htm (10-K/A) — 287KB
• glei_ex311.htm (EX-31.1) — 7KB
• glei_ex321.htm (EX-32.1) — 3KB
• 0001871890-25-000005.txt ( ) — 1231KB
• glei-20230731_cal.xml (EX-101.CAL) — 10KB
• glei-20230731_def.xml (EX-101.DEF) — 15KB
• glei-20230731_lab.xml (EX-101.LAB) — 69KB
• glei-20230731_pre.xml (EX-101.PRE) — 59KB
• glei-20230731.xsd (EX-101.SCH) — 13KB
• glei-20230731_10ka_htm.xml (XML) — 70KB

Business

Item 1. Business. 1

Risk Factors

Item 1A. Risk Factors. 5

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. 5

Properties

Item 2. Properties. 5

Legal Proceedings

Item 3. Legal Proceedings. 5

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 6 PART II 7

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. 7

Selected Financial Data

Item 6. Selected Financial Data. 7

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

Item 7. Management's Discussion and Analysis of our Financial Conditions and Results of Operations. 7

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk. 9

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 9

Changes In and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes In and Disagreements with Accountants on Accounting and Financial Disclosure. 10

Controls and Procedures

Item 9A. Controls and Procedures. 10

Other Information

Item 9B. Other Information. 11 PART III 12

Directors, Executive Officers, and Corporate Governance

Item 10. Directors, Executive Officers, and Corporate Governance. 12

Executive Compensation

Item 11. Executive Compensation. 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 12

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence. 14

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services. 14

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules. 14

SIGNATURES

SIGNATURES 16 iii PART I NOTE REGARDING FORWARD LOOKING STATEMENTS CAUTIONARY STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 This Annual Report contains historical information as well as forward-looking statements. Statements looking forward in time are included in this Annual Report pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to be materially different from any future performance suggested herein. We wish to caution readers that in addition to the important factors described elsewhere in this Form 10-K, the following forward-looking statements, among others, sometimes have affected, and in the future could affect, our actual results and could cause our actual results during 2023 and beyond, to differ materially from those expressed in any forward-looking statements made by or on our behalf.

Business

Item 1. Business. General Development of Business Overview We intend to commence business operations by offering real estate management services for clients that focus on cost efficient operations and tenant retention on a range of properties including residential housing and Class A, B, and C office space, as well as industrial, manufacturing, retail, and warehousing facilities. We also intend to provide our clients with real estate consulting services, including market analysis and modeling, market forecasts, lease and asset management, site selection, feasibility studies, sales and exit strategies, strategic planning, organizational design, capital management, and research services. We intend to commence operations in the Las Vegas, Nevada area due to the significant demand for real estate management services there and the proximity of our management team to that city. We were only incorporated on March 24, 2021, and have not commenced pursuing our business plan because we have been focused on raising the initial capital to fund our business operations. From our incorporation on March 24, 2021, to July 31, 2023, we have incurred an accumulated deficit of $86,779. To date, we have raised an aggregate of $83,400 through the sale of our common stock. Proceeds from these sales were used to fund the filing of our registration statement and will be used for working capital. Further losses are anticipated in the development of our business. As a result, our auditor has expressed substantial doubt about our ability to continue as a going concern. Anticipated Services We intend to provide clients with two principal types of services: (1) property management; and (2) property consulting. Property Management Services As property managers, the services that we intend to provide to owners of residential, commercial, and industrial properties include: completing an initial evaluation of properties and working with the owners to determine a target rental or lease r

Risk Factors

Item 1A. Risk Factors. Not applicable. 5

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments. None.

Properties

Item 2. Properties. We do not own any interest in real property. Our mailing address is 1701 Charles Iam Court, Las Vegas, Nevada, 89117.

Legal Proceedings

Item 3. Legal Proceedings. None

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. None. 6 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Our shares of common stock do not trade on any recognized stock exchange or quotation system. We intend to retain a market maker that will file an application on our behalf to commence trading on OTC Markets. However, there is no guarantee that we will be successful in retaining a market maker, that FINRA will approve the application, or that a trading market will develop for our shares. As of October 9, 2025, there were approximately 37 beneficial owners of record of our common stock. Holders of common stock are entitled to receive such dividends as may be declared by the Board of Directors out of funds legally available therefore and, in the event of liquidation, to share pro rata in any distribution of our assets after payment of liabilities. The Board of Directors is not obligated to declare a dividend. We have not paid any dividends and we do not have any current plans to pay any dividends. Securities Authorized for Issuance under Equity Compensation Plans None.

Selected Financial Data

Item 6. Selected Financial Data. Not applicable.

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

Item 7. Management's Discussion and Analysis of our Financial Conditions and Results of Operations. Introduction We were incorporated on March 24, 2021 under the laws of the State of Wyoming. Results of Operations for the Year Ended July 31, 2023 From August 1, 2022 to our fiscal year end of July 31, 2023, we did not earn any revenue. From August 1, 2022 to our fiscal year end of July 31, 2023, we incurred net loss of $7,651 consisting entirely of general and administrative fees. We have not attained profitable operations and are dependent upon obtaining financing to complete our proposed business plan. For these reasons our auditors believe that there is substantial doubt that we will be able to continue as a going concern. Our financial statements have been prepared assuming that we will continue as a going concern and, accordingly, do not include adjustments relating to the recoverability and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. Liquidity and Capital Resources As of July 31, 2023, our current assets of $15,758 consisted of $758 in cash and $15,000 in prepayments and deposits and our total liabilities were $19,138, which consisted entirely of accounts payable and accrued liabilities. We expect we will require additional capital to meet our long term operating requirements. We expect to raise additional capital through, among other methods, the sale of equity or debt securities. Cash Flows from Operating Activities We have not generated positive cash flows from operating activities. From August 1, 2022 to July 31, 2023, net cash used in operating activities was $14,037 consisting of our net loss for the period of $7,651 and a decrease of accounts payable of $6,386. 7 Cash Flows from Investing Activities From August 1, 2021 to July 31, 2023, we have not had any cash flows from investing activities. Cash Flows from Financing Activities We have not attained p

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