What changed in this filing

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Item 1. Financial Statements

2026-02-17 compared with 2025-11-13 · 174 added, 142 removed, 254 unchanged (55% of the section changed)

3 unchanged sentences

Balance Sheets

September 30,

Current Assets

8 unchanged sentences

Current portion of notes payable, related parties

Current portion of notes payable

Stock repurchase payable

9 unchanged sentences

Common stock, authorized 500,000,000 shares, par value $ 0.001 ;

43,063,441 shares issued and outstanding as of September, 30 2025;

43,063,441 shares issued and outstanding as of December, 31 2025;

and March, 31 2025

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Statements of Operations

Three Months Ended

September 30,

Six Months Ended

September 30,

Three Months Ended December 31,

Nine Months Ended December 31,

Income from Investments

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Loss Before Income Taxes

( 1,019,322 )

Income Tax Provision (Benefit)

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Balance, March 31, 2024

$ ( 36,896,866 )

$ ( 5,939,925 )

Common stock and warrants issued for cash

Balance, June 30, 2024

$ ( 37,333,295 )

$ ( 6,196,354 )

Common stock and warrants issued for cash

September 30, 2024

Balance, September 30, 2024

$ ( 37,601,698 )

$ ( 5,839,757 )

Balance, December 31, 2024

$ ( 37,862,691 )

$ ( 6,100,750 )

Stockholders’

Balance, March 31, 2025

Warrants issued in connection to extinguishment of

$ ( 38,500,248 )

$ ( 6,303,108 )

Warrants issued in connection to extinguishment of debt

Balance, June 30, 2025

$ ( 39,108,242 )

$ ( 6,522,591 )

Balance, September 30, 2025

$ ( 39,298,862 )

$ ( 6,713,211 )

$ ( 39,298,862 )

$ ( 6,713,211 )

Warrants issued in connection with debt issuances

Balance, December 31, 2025

$ ( 39,519,570 )

$ ( 6,930,837 )

$ ( 39,519,570 )

$ ( 6,930,837 )

accompanying notes are an integral part of these condensed consolidated financial statements.

2 unchanged sentences

Statements of Cash Flows

Six Months Ended September 30,

Nine Months Ended December 31,

Operating Activities

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Loss on extinguishment of debt

Amortization of debt discount

Changes in operating assets and liabilities

Prepaid expenses and other assets

4 unchanged sentences

Proceeds from issuance of common stock and warrants

Proceeds from issuance of notes payable, related party

Repayment of notes payable, related party

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Non Cash Financing & Investing Activities, and Other Disclosures

Warrants issued in connection to extinguishment of debt

Warrants issued in connection with debt issuances

accompanying notes are an integral part of these condensed consolidated financial statements.

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the fiscal year ended March 31, 2025, which was filed with the SEC on June 30, 2025.

The results from operations for the three and six

month periods ended September 30, 2025, are not necessarily indicative of the results that may be expected for the fiscal year ended

March 31, 2026.

In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present

fairly the financial position, results of operations, stockholders’ equity, and cash flows at September 30, 2025, and for all periods

presented herein have been made.

The results from operations for the three and nine

month periods ended December 31, 2025, are not necessarily indicative of the results that may be expected for the fiscal year ended March

In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly

the financial position, results of operations, stockholders’ equity, and cash flows at December 31, 2025, and for all periods presented

herein have been made.

preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported

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professional services business and asset base, resulting in the ability to pay dividends to its shareholders.

Company has developed an additional business offering working closely with bond placement agents and aggregators to establish various

aspects of a proprietary, investment grade bond offering.

In this arrangement, the Company participates as the sole originator in the

role of structuring and advising on the structure of the proprietary bond instrument.

Included in the role of structuring financial assets,

the Company uses proprietary analytics to establish the makeup of the rated instrument, including but not limited to, life settlement

assets (life insurance policies) and managed cash, and implements a process of selective assembly of the underlying assets and cash management

that will meet the policy requirements and analytics.

The Company provides current and ongoing resources for all analytics, as well as

advisement support for the investment and non-investment grade ratings for the managed asset pool and the managed cash accounts.

advisory role, the Company is reimbursed for all expenses associated with the structuring and preparation of any bond offering, will

receive an advisory payment upon the closing of any bond offering, and then will hold residual rights on the balance of assets once the

bond is retired.

Accounting Policies

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Potentially dilutive securities are not included in the

calculation of diluted net loss per share for the three and six months ended September 30, 2025, or 2024, because to do so would be anti-dilutive.

Potentially dilutive securities outstanding as of September 30, 2025, and 2024, are comprised of warrants convertible into 15,464,631

calculation of diluted net loss per share for the three and nine months ended December 31, 2025, or 2024, because to do so would be anti-dilutive.

Potentially dilutive securities outstanding as of December 31, 2025, and 2024, are comprised of warrants convertible into 14,126,255

and 14,203,573 shares of common stock, respectively.

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from related parties, and the issuance of notes payable and convertible debentures.

As of September 30, 2025, the Company had $ 484 of

cash assets, compared to $ 168,648 as of March 31, 2025.

As of September 30, 2025, the Company had access to draw an additional $ 275,000

As of December 31, 2025, the Company had $ 40,287

of cash assets, compared to $ 168,648 as of March 31, 2025.

As of December 31, 2025, the Company had access to draw an additional $ 115,000

on notes payable (see Note 4);

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Agreement (see Note 6).

For the six months ended September 30, 2025, the Company’s average monthly operating expenses were approximately

For the nine months ended December 31, 2025, the Company’s average monthly operating expenses were approximately

$ 40,000 , which includes salaries of the Company’s employee, consulting agreements and contract labor, general and administrative

1 unchanged sentence

In addition to the monthly operating expenses, in the Company’s pursuit of other debt

and equity financing opportunities, $ 0 and $ 170,000 were incurred during the three months ended September 30, 2025, and 2024, respectively.

As management continues to explore additional financing alternatives, beginning October 1, 2025, the Company is expected to spend up

and equity financing opportunities, $ 15,000 and $ 200,000 were incurred during the nine months ended December 31, 2025, and 2024, respectively.

As management continues to explore additional financing alternatives, beginning January 1, 2026, the Company is expected to spend up

to an additional $ 300,000 on these efforts.

Outstanding Accounts Payable as of September 30, 2025, totaled $ 458,352 .

Outstanding Accounts Payable as of December 31, 2025, totaled $ 445,537 .

Management has concluded

1 unchanged sentence

its operating working capital requirements for at least the next 12 months from the issuance of these financial statements, or through

November 2026.

February 2027.

Related parties have given assurance that their continued support, by way of either extensions of due dates, or increases

8 unchanged sentences

levels of input are summarized as follows:

Quoted prices

in active markets for identical assets and liabilities.

Observable inputs

other than Level 1 quoted prices, such as quoted prices for similar instruments in active markets, quoted prices for identical or

similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are

observable in the market.

Unobservable inputs

that are supported by little or no market activity.

Level 3 assets and liabilities include financial instruments whose value is determined

using pricing models, discounted cash flow methodologies, or similar techniques as well as instruments for which the determination

of fair value requires significant management judgment or estimation.

Quoted prices in active markets for identical assets and liabilities.

Observable inputs other than Level 1 quoted prices, such as quoted prices for similar instruments in active markets, quoted prices

for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant

assumptions are observable in the market.

Unobservable inputs that are supported by little or no market activity.

Level 3 assets and liabilities include financial instruments

whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques as well as instruments

for which the determination of fair value requires significant management judgment or estimation.

level in the fair value hierarchy within which a fair value measurement in its entirety falls is based on the lowest level input that

1 unchanged sentence

Company did not have any transfers of assets and liabilities between Levels 1, 2 and 3 of the fair value measurement hierarchy during

the three months ended September 30, 2025, and 2024.

the three months ended December 31, 2025, and 2024.

Company issues warrants from time to time (see Note 7), which fair value is calculated using Level 3 inputs.

5 unchanged sentences

NOTES PAYABLE

April 6, 2021, the Company borrowed $ 300,000 under an unsecured promissory note with Satco International, Ltd.

This promissory

note bears interest at a rate of 8 % annually and was due April 6, 2023 .

In conjunction with this note, the Company issued warrants

for 1,000,000 shares of common stock, exercisable at $ 1.00 per share and expiring in 3 years from the date of

the promissory note, which are now expired.

April 6, 2021, the Company borrowed $ 300,000

under an unsecured promissory note with Satco International, Ltd.

This promissory note bears interest at a rate of 8 %

annually and was due April

In conjunction with this note, the Company issued warrants for 1,000,000

shares of common stock, exercisable at $ 1.00

per share and expired 3

years from the date of the promissory note.

Since the original note date, the unsecured promissory note with Satco International,

has been amended through a series of amendments to extend the due date from April 6, 2023 , to August 31, 2026, or at the

immediate time when alternative financing or other proceeds are received.

These extensions have no bearing on the warrants that were

issued in conjunction with the original promissory note.

This note is separate from the 8 % convertible debenture agreement that

the Company has in place with Satco International, Ltd.

has been amended through a series of amendments to extend the due date from April

6, 2023 , to August

31, 2026 , or at the immediate time when alternative financing or other proceeds are received.

These extensions have no

bearing on the warrants that were issued in conjunction with the original promissory note.

This note is separate from the 8 %

convertible debenture agreement that the Company has in place with Satco International, Ltd.

(see Note 6).

As of September 30, 2025, accrued interest on the note totaled

September 30, 2025, the Company executed an unsecured promissory note with a shareholder and borrowed $ 25,000 on the unsecured promissory

This promissory note bears interest at a rate of 7.5 % annually, is due September 30, 2026 , and has a credit limit of $ 300,000 .

As of September 30, 2025, accrued interest on the note totaled $ 0 .

Additional funds were borrowed subsequent to quarter end (see Note

As of December 31, 2025, and

March 31, 2025, accrued interest on the note totaled $ 113,753 , and $ 95,671 , respectively .

September 30, 2025, the Company executed an unsecured promissory note with a shareholder.

This promissory note bears interest at a

rate of 7.5 %

annually, is due September

30, 2026 , functions as a line of credit ,

and has a credit limit of $ 300,000 .

As of December 31, 2025, the company has borrowed $ 185,000 and accrued interest on the

note totaled $ 2,437 .

NOTES PAYABLE, RELATED PARTY

of September 30, 2025, and March 31, 2025, the Company had borrowed $ 3,290,058 , excluding accrued interest, from related parties.

accrued interest associated with the Notes Payable, Related Parties and Promissory Notes, Related Parties, of $ 557,998 and $ 504,608 is

recorded on the balance sheet as an Accrued Expense obligation at September 30, 2025, and March 31, 2025, respectively.

Long-term accrued

interest associated with the Notes Payable, Related Parties, and Promissory Notes, Related Parties, of $ 1,712,195 and $ 1,040,070 is recorded

on the balance sheet as an Accrued Expense obligation at September 30, 2025, and March 31, 2025, respectively.

of December 31, 2025, and March 31, 2025, the Company had borrowed $ 3,298,747 , and 3,290,058 , respectively, excluding accrued interest,

from related parties.

Short-term accrued interest associated with the Notes Payable, Related Parties and Promissory Notes, Related Parties,

of $ 0 and $ 504,608 is recorded on the balance sheet as an Accrued Expense obligation at December 31, 2025, and March 31, 2025, respectively.

Long-term accrued interest associated with the Notes Payable, Related Parties, and Promissory Notes, Related Parties, of $ 1,798,142 and

$ 1,040,070 is recorded on the balance sheet as an Accrued Expense obligation at December 31, 2025, and March 31, 2025, respectively.

Party Promissory Notes

of both September 30, 2025, and March 31, 2025 ,

the Company owed $ 826,000 , exclusive of accrued interest, under the unsecured promissory

notes from Mr.

The promissory notes bear interest at a rate of 8 % annually.

On January 26, 2024, as per the provision outlined

in Note 7, Mr.

Dickman agreed to extend the unsecured promissory note to November 30, 2025;

the Company agreed to provide Mr.

with warrants to purchase 563,000 shares of common stock relating to this extension (see Note 7).

During the six months ended September

30, 2025 , the Company neither borrowed any additional funds under this agreement nor made any principal

As of September 30, 2025 , accrued interest on the notes totaled $ 557,998 .

of both December 31, 2025, and March 31, 2025, the Company owed $ 826,000 ,

exclusive of accrued interest, under the unsecured promissory notes from Mr.

The promissory notes bear interest at a rate of

Subsequent to quarter end, as per the provision outlined in Note 7, Mr.

Dickman agreed to extend the unsecured promissory note

30, 2027 (see Note 8).

During the nine months

ended December 31, 2025, the Company neither borrowed any additional funds under this agreement nor made any principal repayments.

of December 31, 2025, accrued interest on the notes totaled $ 585,634 .

In the event the Company completes a successful equity raise all principal and interest on the notes are due in full at that time.

total number of warrants issued to the related party lender was 1,994,332 as of September 30, 2025 (See Note 7 for further details on

total number of warrants issued to the related party lender was 1,994,332

as of December 31, 2025 (See Note 7 for further details on

these warrants).

Party Note Payable and Line of Credit Agreements

of September 30, 2025, and March 31, 2025 , the Company owed $ 1,304,550 , exclusive of accrued

interest, under the note payable and line of credit agreement with Kraig T.

of December 31, 2025, and March 31, 2025, the Company owed $ 1,304,550 , exclusive of accrued interest, under the note payable and line

of credit agreement with Kraig T.

Higginson, Chairman of the Board of Directors and a stockholder.

As of September 30, 2025 , the agreement allowed for borrowings of up to $ 4,600,000 .

note payable has a due date of the principal and interest on the note of November 30, 2026, or at the immediate time when alternative

financing or other proceeds are received.

The note payable and line of credit agreement incurs interest at 7.5 % per annum.

six months ended September 30, 2025, the Company did not borrow and made no repayments of

principal on this agreement.

As of September 30, 2025 , accrued interest on this note totaled

The total number of warrants issued to the related party lender was 5,031,775 as of September 30, 2025 (see Note 7 for further

details on these warrants).

of September 30, 2025, and March 31, 2025, the Company owed $ 1,159,508 , exclusive of accrued interest, under the note payable and lines

As of December 31, 2025, the agreement

allowed for borrowings of up to $ 4,600,000 .

The note payable has a due date of the principal and interest on the note of May 31, 2028,

or at the immediate time when alternative financing or other proceeds are received.

The note payable and line of credit agreement incurs

interest at 7.5 % per annum.

During the nine months ended December 31, 2025, the Company did not borrow and made no repayments of principal

on this agreement.

As of December 31, 2025, accrued interest on this note totaled $ 574,918 .

The total number of warrants issued to the

related party lender was 4,255,775 as of December 31, 2025 (see Note 7 for further details on these warrants).

of December 31, 2025, and March 31, 2025, the Company owed $ 1,168,197 , exclusive of accrued interest, under the note payable and lines

of credit agreement with Radiant Life, LLC, an entity partially owned by the Chairman of the Board of Directors.

1 unchanged sentence

for borrowings of up to $ 2,130,000 .

The note payable has a due date of the principal and interest on the note of November 30, 2026, or

at the immediate time when alternative financing or other proceeds are received.

The note payable and line of credit agreement incurs

interest at 7.5 % per annum and is collateralized by the Company’s NIBS, if any.

During the six months ended September 30, 2025, the Company

did not borrow and made no repayments of principal on this agreement.

As of September 30, 2025, accrued interest on this agreement totaled

The total number of warrants issued to the related party lender was 4,628,524

as of September 30, 2025 (see Note 7 for further details on these warrants).

of September 30, 2025, there was no unamortized debt discount on related party notes payable.

The note payable has a due date of the principal and interest on the note of May 31, 2027, or at

the immediate time when alternative financing or other proceeds are received.

The note payable and line of credit agreement incurs interest

at 7.5 % per annum and is collateralized by the Company’s NIBS, if any.

During the nine months ended December 31, 2025, the Company

did borrowed $ 8,689 and made no repayments of principal on this agreement.

As of December 31, 2025, accrued interest on this agreement totaled

The total number of warrants issued to the related party lender was 4,066,148 as of December 31, 2025 (see Note 7 for further

details on these warrants).

of December 31, 2025, there was $ 2,312 debt discount on related party notes payable.

CONVERTIBLE DEBENTURE AGREEMENT

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The original maturity date was June 2, 2016, but was later extended, through a series of extensions, to August

During the three and six months ending September 30, 2025, and 2024, the Company did not borrow and made no repayments of principal

During the three and nine months ending December 31, 2025, and 2024, the Company did not borrow and made no repayments of principal

on this agreement.

As of September 30, 2025, and March 31, 2025, the Company owed $ 0 under the agreement, excluding accrued interest.

The associated interest of $ 124,225 is recorded on the balance sheet as an Accrued Expense obligation at September 30, 2025, and March

As of December 31, 2025, and March 31, 2025, the Company owed $ 0 under the agreement, excluding accrued interest.

The associated interest of $ 124,225 is recorded on the balance sheet as an Accrued Expense obligation at December 31, 2025, and March

STOCKHOLDERS’ EQUITY

2 unchanged sentences

The Company has cancelled the acquired shares, which decreased the common shares outstanding.

total number of common shares canceled/retired was 8,000,000 , of which 6,000,000 shares were owned by a related party to the Company.

total number of common shares cancelled/retired was 8,000,000 , of which 6,000,000 shares were owned by a related party to the Company.

The total liability related to the repurchase of these shares is $ 400,000 , with repayment to the related party stockholders contingent

3 unchanged sentences

shares of the Company’s common stock (par value $ 0.001 ) to qualified investors.

Between September 20, 2023 and July 10, 2024, the

Company received subscription agreements from ten separate investors, for 1,655,000 shares of common stock in conjunction with a purchase

of 3,310,000 warrants to purchase shares of common stock.

Between September 20, 2023, and July 10, 2024,

the Company received subscription agreements from ten separate investors, for 1,655,000 shares of common stock in conjunction with a

purchase of 3,310,000 warrants to purchase shares of common stock.

The proceeds from these transactions were $ 1,655,000 .

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common stock on the date of grant, and expire 5 years from the date of issuance.

the six months ended September 30, 2025, the Company issued Radiant Life, LLC 1,399,508 warrants in conjunction with an extension of

the maturity dates of notes payable.

The exercise price of these warrants was $ 0.41 .

The value of the warrants on the date of grant,

as calculated by the Black-Scholes-Merton valuation model was $ 388,511 .

The inputs used in this calculation included a fair value of

the underlying common stock of $ 0.409 per share, a risk-free of 3.81 %, volatility of 82.79 %, and a dividend rate of 0 %.

June 18, 2024, and July 10, 2024, the Company issued 1,610,000 warrants to equity investors, which

vested immediately and expire 5 years from the date of issuance, in conjunction with a purchase of 805,000 shares of the Company’s

common stock.

the nine months ended December 31, 2025, the Company issued Radiant Life, LLC 1,399,508 warrants

in conjunction with an extension of the maturity dates of notes payable, and 17,378 warrants related to a draw on the line of

The exercise price of these warrants was $ 0.41 .

the six months ended September 30, 2025, 431,000 warrants expired.

The value of the warrants on the date of grant related to the note extension, as calculated by the Black-Scholes-Merton valuation

model was $ 388,511 .

The inputs used in this calculation included a fair value of the underlying common stock of $ 0.409 per

share, a risk-free of 3.81 %,

volatility of 82.79 %,

and a dividend rate of 0 %.

The value of the warrants on the date of grant related to the draw on the line of credit, as calculated by the Black-Scholes-Merton

valuation model was $ 4,777 .

The inputs used in this calculation included a fair value of the underlying common stock of $ 0.409 per share,

a risk-free of 3.78 %, volatility of 81.58 %, and a dividend rate of 0 %.

June 18, 2024, and July 10, 2024, the Company issued 1,610,000 warrants to equity investors, which vested immediately and expire 5 years

from the date of issuance, in conjunction with a purchase of 805,000 shares of the Company’s common stock.

The exercise price of

these warrants was $ 0.35 .

the nine months ended December 31, 2025, 1,786,754 warrants expired.

These warrants were issued in 2020 in association with monies loaned

to the Company by the Chairman of the Board of Directors.

These warrants had an exercise price of $ 0.05 .

See Note 8 for information on

expiring warrants subsequent to quarter end.

to the Company by the Chairman of the Board of Directors, and when a related party investor extended a note payable.

These warrants had

an exercise price of $ 0.05 .

the year ended March 31, 2025, 2,702,000 warrants that had been previously issued expired.

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SCHEDULE OF WARRANT OUTSTANDING

Average Exercise Price ($)

Weighted Average

Exercise Price ($)

Outstanding at March 31, 2024

( 2,702,000 )

Outstanding at March 31, 2025

Outstanding at September

following table summarizes the warrants issued and outstanding as of September 30, 2025:

( 1,786,754 )

Outstanding at December 31, 2025

following table summarizes the warrants issued and outstanding as of December 31, 2025:

SCHEDULE OF WARRANTS ISSUED AND OUTSTANDING

Average Remaining Contractual Life (Years)

to Company if Exercised

Exercise Price ($)

Weighted Average

Remaining Contractual

Proceeds to Company

shares of common stock issuable upon exercise of the warrants are not registered with the Securities and Exchange Commission and the

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SUBSEQUENT EVENTS

October 1 and October 27, 2025, subsequent to period end, a total of 1,355,754 previously issued warrants expired unexercised.

amount, 579,754 were held by Radiant Life, LLC, and 776,000 were held by the Chairman of the Board, each with an exercise price

of $ 0.05 per share, and expired on their respective maturity dates.

October 6 and October 28, 2025, subsequent to period end, an additional $ 120,000 was borrowed on the unsecured promissory note with a

shareholder which was originally executed September 30, 2025 (see Note 4).

January 8, 2026, the Company negotiated with the Chairman of the Board of Directors to extend the due date of the notes payable and line

of credit to May 31, 2028 .

In conjunction with this note extension the Company issued 1,664,550 warrants to the Chairman of the Board

of Directors (see Note 4).

The exercise price of these warrants was $ 0.41 , these warrants have a cashless exercise option, and these warrants expire in 5 years from the issue date.

January 14, 2026, the Company negotiated with Mr.

Dickman and Radiant Life, LLC to extend the due date of the notes payable and lines

of credit to April 30, 2027 , and May 31, 2027 , respectively.

In conjunction with these note extensions, the Company issued 1,166,000

and 1,288,197 warrants, respectively (see Note 4).

The exercise price of these warrants was $ 0.41 , these warrants have a cashless exercise

option, and these warrants expire in 5 years from the issue date.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements