MADE IN USA INC. Pivots to Reshoring Amidst Mixed Financials

TL;DR

**USDW is a speculative bet on a complete business pivot to U.S. manufacturing reshoring, but its zero cash and accumulated deficit scream high risk.**

AI Summary

MADE IN USA INC. (USDW) reported a net income of $8,665 for the three months ended August 31, 2025, a significant improvement from a net loss of $(9,456) in the same period of 2024. However, for the six months ended August 31, 2025, the company still posted a net loss of $(22,861), slightly worse than the $(21,768) loss in the prior year period. Revenue saw substantial growth, reaching $24,460 for the three months ended August 31, 2025, up from $10,611 in 2024, and $35,936 for the six-month period, compared to $14,583 in 2024. A major business change occurred with a change in control and a strategic pivot to reshoring industrial capacity to the U.S., leveraging blockchain and AI. The company's cash balance dropped to $0 as of August 31, 2025, from $13,861 on February 28, 2025, and it continues to operate with an accumulated deficit of $(56,361). A significant capital structure change involved the cancellation of 3,000,000 restricted shares by former director Rassul Sadukbayev, reducing total outstanding shares from 6,695,000 to 3,695,000. The company faces substantial doubt about its ability to continue as a going concern due to limited revenues and accumulated losses, relying on future profitable operations or director loans/private placements for financing.

Why It Matters

This filing reveals a company in a significant transition, shifting from a mobile app developer to a U.S. manufacturing reshoring and supply chain authenticity firm. For investors, the substantial increase in revenue for the quarter is positive, but the continued accumulated deficit and zero cash balance raise red flags about liquidity and long-term viability. The strategic pivot into blockchain and AI for manufacturing could position USDW uniquely in a competitive market focused on domestic production, potentially impacting other manufacturing and tech companies. Employees and customers of the former Alixo-Yolloo Corporation will experience a complete change in business focus, while potential new stakeholders will be evaluating the execution of this ambitious reshoring strategy.

Risk Assessment

Risk Level: high — The company has an accumulated deficit of $(56,361) as of August 31, 2025, and reported a net loss of $(22,861) for the six months ended August 31, 2025. Critically, the cash balance is $0 as of August 31, 2025, down from $13,861 on February 28, 2025, indicating severe liquidity issues and raising substantial doubt about its ability to continue as a going concern.

Analyst Insight

Investors should approach USDW with extreme caution, recognizing it as a highly speculative investment. Monitor closely for concrete progress on its reshoring initiatives, specifically successful acquisitions and revenue generation from its new business model, as the current financials indicate significant operational and liquidity challenges.

Financial Highlights

debt To Equity

N/A

revenue

$35,936

operating Margin

N/A

total Assets

$101,654

total Debt

$0

net Income

$8,665

eps

N/A

gross Margin

100.0%

cash Position

$0

revenue Growth

+146.4%

Revenue Breakdown

Key Numbers

• $8,665 — Net Income (for three months ended August 31, 2025, up from $(9,456) in 2024)
• $(22,861) — Net Loss (for six months ended August 31, 2025, slightly worse than $(21,768) in 2024)
• $35,936 — Total Income (Sales) (for six months ended August 31, 2025, up from $14,583 in 2024)
• $0 — Cash (as of August 31, 2025, down from $13,861 on February 28, 2025)
• $(56,361) — Accumulated Deficit (as of August 31, 2025, indicating ongoing losses)
• 3,695,000 — Common Stock Shares Outstanding (as of August 31, 2025, reduced from 6,695,000 due to share cancellation)
• $117,393 — Related Party Loan Conversion (converted to additional paid-in capital, improving equity)
• 54.13% — Rassul Sadukbayev's Ownership (reduced from 74.68% after share cancellation)

Key Players & Entities

• MADE IN USA INC. (company) — registrant
• USDW (company) — ticker symbol
• Alixo-Yolloo Corporation (company) — former name of registrant
• Rassul Sadukbayev (person) — former director who cancelled shares
• Nevada (regulator) — state of incorporation
• Securities and Exchange Commission (regulator) — filing oversight
• $8,665 (dollar_amount) — net income for three months ended August 31, 2025
• $22,861 (dollar_amount) — net loss for six months ended August 31, 2025
• $0 (dollar_amount) — cash balance as of August 31, 2025
• 3,000,000 (dollar_amount) — number of restricted shares cancelled

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company faces substantial doubt about its ability to continue as a going concern due to limited revenues and an accumulated deficit of $(56,361) as of August 31, 2025. Future operations or financing are critical for survival.
• Zero Cash Position [high — financial]: The company's cash balance has dropped to $0 as of August 31, 2025, from $13,861 on February 28, 2025. This lack of liquidity necessitates immediate financing through director loans or private placements to meet obligations.
• Dependence on New Strategy [medium — operational]: The company's strategic pivot to reshoring industrial capacity using blockchain and AI is unproven. Success is contingent on effective implementation and market acceptance of these new technologies and business model.
• Accumulated Deficit [medium — financial]: An accumulated deficit of $(56,361) as of August 31, 2025, indicates a history of losses. The company anticipates further losses in business development, requiring continuous funding to overcome.
• Shareholder Dilution Risk [medium — financial]: While a significant share cancellation reduced outstanding shares, future financing through private placements could lead to substantial dilution for existing shareholders, impacting their ownership percentage.
• Blockchain and AI Compliance [low — regulatory]: The adoption of blockchain and AI technologies may introduce new regulatory compliance challenges. The company must navigate evolving legal frameworks related to data privacy, security, and the use of these advanced technologies.

Industry Context

MADE IN USA INC. is operating in a landscape increasingly focused on reshoring and domestic manufacturing, driven by geopolitical factors and supply chain resilience concerns. The integration of advanced technologies like blockchain and AI into industrial capacity represents a forward-looking strategy, aiming to enhance efficiency and transparency in U.S.-based production. However, this sector also faces challenges related to skilled labor availability, technological adoption costs, and competition from established global manufacturers.

Regulatory Implications

The company's strategic pivot towards reshoring and the use of blockchain and AI may bring it under increased scrutiny from regulatory bodies. Compliance with evolving data privacy laws, cybersecurity standards for AI systems, and potential regulations surrounding blockchain technology will be critical. Furthermore, any government incentives or mandates related to domestic manufacturing could present both opportunities and compliance requirements.

What Investors Should Do

1. Monitor cash burn and financing activities closely.
2. Evaluate the execution of the reshoring strategy.
3. Assess the impact of share restructuring.
4. Review management's ability to navigate going concern risks.

Key Dates

• 2025-08-31: End of Q2 2025 reporting period — Reported net income of $8,665 for the quarter, a significant improvement from a loss in the prior year. However, the six-month period still shows a net loss of $(22,861).
• 2025-08-31: Cash balance reached $0 — A critical liquidity event, highlighting the company's immediate need for financing to continue operations.
• 2025-08-31: Accumulated deficit reached $(56,361) — Reinforces the long-term financial challenges and the substantial doubt about the company's ability to continue as a going concern.
• 2025-02-28: Previous fiscal year end — Reported a cash balance of $13,861 and an accumulated deficit of $(33,500), providing a baseline for the current period's deterioration in cash and worsening deficit.
• 2025-08-31: Share cancellation by Rassul Sadukbayev — Reduced outstanding shares from 6,695,000 to 3,695,000, impacting ownership percentages and potentially signaling a shift in control or strategic direction.

Glossary

Accumulated Deficit

The total net losses of a company since its inception that have not been offset by net income. It represents a negative balance in retained earnings. (Indicates the company's history of unprofitability, with a current deficit of $(56,361) as of August 31, 2025, contributing to going concern doubts.)

Going Concern

An accounting assumption that a business will continue to operate for the foreseeable future. If substantial doubt exists, it must be disclosed. (The company explicitly states substantial doubt about its ability to continue as a going concern due to financial performance and cash position.)

Additional Paid-In Capital

The amount of money a company receives from selling stock above its par value. It's a component of stockholders' equity. (Increased significantly from $32,205 to $152,598, partly due to the conversion of a related party loan, improving the equity position.)

Related Party Loan

A loan made between entities that have a close relationship, such as between a company and its directors or major shareholders. (A related party loan of $73,034 was outstanding as of February 28, 2025, but was converted to additional paid-in capital by August 31, 2025.)

Par Value

A nominal value assigned to a share of stock by the company's charter. It has little relation to the market value or book value. (The common stock has a par value of $0.001, with 3,695,000 shares outstanding as of August 31, 2025.)

Year-Over-Year Comparison

Compared to the fiscal year ended February 28, 2025, MADE IN USA INC. has seen a dramatic shift in its financial position. Revenue for the six months ended August 31, 2025, has more than doubled compared to the same period last year ($35,936 vs $14,583), indicating strong top-line growth. However, the company's cash position has evaporated from $13,861 to $0, and the accumulated deficit has widened from $(33,500) to $(56,361), exacerbating going concern risks. A significant capital restructuring also occurred with a large share cancellation.

Filing Documents

• madeinusa_i10q-083125.htm (10-Q) — 340KB
• madeinusa_ex3101.htm (EX-31.1) — 7KB
• madeinusa_ex3102.htm (EX-31.2) — 7KB
• madeinusa_ex3201.htm (EX-32.1) — 4KB
• madeinusa_ex3202.htm (EX-32.2) — 4KB
• 0001683168-25-007523.txt ( ) — 2337KB
• alxy-20250831.xsd (EX-101.SCH) — 17KB
• alxy-20250831_cal.xml (EX-101.CAL) — 29KB
• alxy-20250831_def.xml (EX-101.DEF) — 57KB
• alxy-20250831_lab.xml (EX-101.LAB) — 192KB
• alxy-20250831_pre.xml (EX-101.PRE) — 157KB
• madeinusa_i10q-083125_htm.xml (XML) — 202KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Balance Sheets as of August 31, 2025 (Unaudited) and February 28, 2025 5 Condensed Statements of Operations for the three and six months ended August 31, 2025, and 2024 (Unaudited) 6 7 Condensed Statements of Cash Flows for the six months ended August 31, 2025, and 2024 (Unaudited) 8 Notes to the Condensed Financial Statements (Unaudited) 9 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 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 PART II OTHER INFORMATION : 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

SIGNATURES

SIGNATURES 19 2 SPECIAL NOTE REGARDING FORWARD—LOOKING STATEMENTS or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may", "will", "expect", "believe", "anticipate", "estimate", "approximate" or "continue", or the negative thereof. We intend that such forward-looking in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. Financial information contained in this quarterly report and in our unaudited interim financial statements is stated in United States dollars and are prepared in accordance with United Introduction to the business of the company post change in control Made in USA Inc., a Nevada corporation (the "Company"), was formerly named Alixo-Yolloo Corporation and was engaged in the business of developing and marketing a mobile application named "Alixo." Alixo has been designed to help users identify music tracks based on short samples recorded via their device's microphone. As reported in the Company

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. The accompanying financial statements present information for the Company prior to the change in control. See " Introduction to the Business of the Company Post Change in Control " supra. The accompanying financial information has 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 principles have been condensed or omitted pursuant to such rules and regulations. The interim financial statements are condensed and 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. 4 MADE IN USA INC. (Formerly Alixo-Yolloo Corporation) CONDENSED BALANCE SHEETS August 31, 2025 (Unaudited) February 28, 2025 (Audited) ASSETS Current Assets Cash $ – $ 13,861 Prepaid Expenses 5,625 27,500 Total Current Assets 5,625 41,361 Intangible Assets, Net 96,029 75,103 TOTAL ASSETS $ 101,654 $ 116,464 LIABILITIES & STOCKHOLDERS' EQUITY (DEFICIT) Liabilities Current Liabilities Accounts Payable $ 622 $ 27,150 Deferred Revenue 1,100 10,880 Related Party Loan – 73,034 Total Current Liabilities 1,722 111,064 Stockholders' Equity (Deficit) Common Stock, $ 0.001 par value, 75,000,000 shares authorized, 3,695,000 and 6,695,000 shares issued and outstanding as of August 31, 2025, and February 28, 2025, respectively 3,695 6,695 Additional Paid-In Capital 152,598 32,205 Accumulated Deficit ( 56,361 ) ( 33,500 ) Total Stockholders' Equity (Deficit) 99,932 5,400 TOTAL LIABILITIES & STOCKHOLDERS' E

BUSINESS

BUSINESS The accompanying financial statements present information for the Company prior to the change in control. See " Introduction to the Business of the Company Post Change in Control " supra. NOTE 2 – GOING CONCERN The financial statements have been prepared on a going-concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has generated limited revenues since inception and incurred a loss of $ 22,861 and $ 21,768 for the six months ended August 31, 2025, and 2024, respectively. The Company has incurred losses since inception resulting in an accumulated deficit of $ 56,361 as of August 31, 2025, and further losses are anticipated in the development of its business. Accordingly, there is substantial doubt about the Company's ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with existing cash on hand and loans from directors and/or private placement of common stock. NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Company's fiscal year end is February 28 fiscal year end. The Company has changed its year end to the calendar year. The results for the six months ending August 31, 2025, are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnote

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