The Quarterly Report is available on the SEC's website at www.sec.gov under the Company's filings.
Q1 2026 was a quarter of meaningful balance sheet growth, driven by the Company's financing and M&A activities, including the closing of the SVM Machining Inc. ("SVM") acquisition. SVM is a Northern California-based precision machining and manufacturing services company serving medical, aerospace, biotech & pharmaceutical, semiconductor, and transportation markets.
Balance Sheet Highlights
Total assets increased to approximately $26.0 million as of March 31, 2026, up 102% from approximately $12.87 million at year-end 2025 and up 193% year-over-year.
Shareholders' equity grew to approximately $12.6 million, up 61% from approximately $7.84 million at year-end 2025 and up 55% year-over-year.
Cash and cash equivalents ended the quarter at approximately $14.4 million, up from $5.4 million at year-end 2025 and representing the largest cash balance in the Company's history.
Net working capital improved to approximately $5.1 million from $2.9 million at year-end 2025.
Revenue Growth
Q1 2026 revenue reflects the contribution from all three operating manufacturing and packaging subsidiaries, with SVM Machining contributing a partial period following its closing on February 2, 2026.
Revenue for the three months ended March 31, 2026 was approximately $682,000, compared to $nil for the same period in 2025.
Q1 2026 revenue exceeded the Company's entire ...
