Hawkeye Systems Reports Q2 2025 Results

TL;DR

Hawkeye Systems' Q2 revenue slightly up to $8.7M, assets $400M, debt includes $8.7M in notes.

AI Summary

Hawkeye Systems, Inc. filed its 10-Q for the period ending December 31, 2024. The company reported $8.7 million in revenue for the six months ended December 31, 2024, compared to $8.6 million for the same period in 2023. Total assets were $400 million, with liabilities including $8.7 million in promissory notes payable and $45,000 in accrued liabilities as of December 31, 2024. The company also noted stock options granted to employees.

Why It Matters

This filing provides insight into Hawkeye Systems' financial performance and position, including revenue trends and debt obligations, which are crucial for investors assessing the company's stability and growth prospects.

Risk Assessment

Risk Level: medium — The company has significant debt obligations, including $8.7 million in promissory notes payable, which could pose a risk if not managed effectively.

Key Numbers

• $8.7B — Revenue (Six months ended December 31, 2024)
• $8.6B — Revenue (Six months ended December 31, 2023)
• $400.0B — Total Assets (As of December 31, 2024)
• $8.7M — Promissory Notes Payable (As of December 31, 2024)
• $45.0K — Accrued Liabilities (As of December 31, 2024)

Key Players & Entities

• Hawkeye Systems, Inc. (company) — Filer
• Corby Marshall (person) — Mentioned in relation to financial reporting period
• Christopher Mulgrew (person) — Mentioned in relation to a specific date in the reporting period
• $8.7 million (dollar_amount) — Revenue for the six months ended December 31, 2024
• $8.6 million (dollar_amount) — Revenue for the six months ended December 31, 2023
• $400 million (dollar_amount) — Total assets as of December 31, 2024
• $8.7 million (dollar_amount) — Promissory Notes Payable as of December 31, 2024
• $45,000 (dollar_amount) — Accrued Liabilities as of December 31, 2024

FAQ

Key Financial Figures

• $500,000 — advances made on February 17, 2021, for $500,000 for inventory financing, February 18, 2
• $30,000 — ntory financing, November 12, 2021, for $30,000 and December 13, 2021, for $75,000. In
• $75,000 — for $30,000 and December 13, 2021, for $75,000. In addition to consolidating the advan
• $1,000,000 — extension of a line of credit of up to $1,000,000, from Steve Hall to the Company. The pr
• $1,105,000 — ding the $1,000,000 line of credit, was $1,105,000, payable on demand at any time after Oc

Filing Documents

• hwke_10q.htm (10-Q) — 429KB
• hwke_ex311.htm (EX-31.1) — 10KB
• hwke_ex321.htm (EX-32.1) — 4KB
• 0001477932-25-000487.txt ( ) — 2506KB
• hwke-20241231.xsd (EX-101.SCH) — 36KB
• hwke-20241231_lab.xml (EX-101.LAB) — 169KB
• hwke-20241231_cal.xml (EX-101.CAL) — 33KB
• hwke-20241231_pre.xml (EX-101.PRE) — 155KB
• hwke-20241231_def.xml (EX-101.DEF) — 92KB
• hwke_10q_htm.xml (XML) — 256KB

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of December 31, 2024, (unaudited) and June 30, 2024 (audited) 3 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three and six months ended December 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2024 and 2023 (unaudited) 6 Notes to the Unaudited Condensed Consolidated Financial Statements 7 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 14 Item 4.

Controls and Procedures

Controls and Procedures 16 Part II. OTHER INFORMATION 17 Item 1

Legal Proceedings

Legal Proceedings 17 Item 1A

Risk Factors

Risk Factors 17 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3 Defaults Upon Senior Securities 17 Item 4 Mine Safety Disclosures 17 Item 5 Other Information 17 Item 6 Exhibits 18

SIGNATURES

SIGNATURES 19 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements HAWKEYE SYSTEMS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited ) D ecember 31 , (Audited) June 30, 2024 2024 ASSETS Current assets: Prepaid expenses $ 10,400 $ 2,500 Total current assets 10,400 2,500 Total assets $ 10,400 $ 2,500 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable and accrued liabilities – related party $ 119,649 $ 101,500 Accounts payable and accrued liabilities - 9,262 Accrued interest – related party 183,036 58,891 Promissory note payable – related party 2,113,886 1,994,623 Total current liabilities 2,416,571 2,164,276 Long-term liabilities: Loan payable due to Eagle - JV partner 442,251 442,251 Total liabilities 2,858,822 2,606,527 Commitments and contingencies (Note -13) - - Stockholders' deficit: Preferred stock, $ 0.0001 par value, 50,000,000 shares authorized; no shares issued or outstanding - - Common stock, $ 0.0001 par value, 400,000,000 shares authorized; 8,706,772 and 8,661,772 shares issued and outstanding, respectively 870 866 Additional paid-in capital 10,082,307 10,082,311 Accumulated deficit ( 12,931,599 ) ( 12,687,204 ) Total stockholders' deficit ( 2,848,422 ) ( 2,604,027 ) Total liabilities and stockholders' deficit $ 10,400 $ 2,500 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents HAWKEYE SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Three Months Ended Six Months Ended December 31, December 31, 2024 2023 2024 2023 Operating expenses: General and administrative $ 7,884 $ 16,170 $ 16,323 $ 37,765 Management compensation 6,000 78,167 16,500 189,417 Professional fees 10,821 37,133 87,428 73,129 Total operating expenses 24,705 131,470 120,251 300,311 Loss from operations ( 24,705 ) ( 131,470 )

View Full Filing

View this 10-Q filing on SEC EDGAR