Based on the provided financial report articles, I generated the title for the article: "Quarterly Report for the Three Months Ended June 30, 2026" Please note that the title may not be exact, as the provided text does not contain a clear title. However, based on the content and format of the report, I inferred the title to be the above-mentioned one.
The report presents the financial statements of the company for the quarter ended June 30, 2026. The company reported total revenues of $X, a decrease of Y% compared to the same period last year. Net income was $Z, a decrease of W% compared to the same period last year. The company’s cash and cash equivalents decreased by $X to $Y, and its accounts payable increased by $Z to $W. The company’s stockholders’ equity decreased by $X to $Y, primarily due to the issuance of preferred stock. The company’s debt increased by $X to $Y, primarily due to the issuance of debt securities. The company’s operating cash flow was $X, a decrease of Y% compared to the same period last year. The company’s free cash flow was $X, a decrease of W% compared to the same period last year.
Overview
M2i Global, Inc. (formerly known as Inky Inc.) was incorporated in Nevada in 2018. In May 2023, the company became the sole shareholder of U.S. Minerals and Metals Corp. (USMM), a Nevada corporation. This shift in operations led the company to specialize in developing and executing a global value supply chain for critical minerals for the U.S. government and its trade partners.
The company plans to operate three key business divisions:
- M2i Mining, Processing & Refining: Sourcing, extracting, processing, refining, transporting, and selling primary minerals and metals.
- M2i Scrap & Recycling: Collecting, processing, transporting, and selling scrap, recycled, and reused metals.
- M2i Government and Defense Industrial Base: Aligning with U.S. policy to facilitate participation in U.S. government programs, such as the creation and management of a Strategic Minerals Reserve.
In June 2024, the company entered into a strategic partnership with Komodo Capital to gain access to various critical minerals. Additionally, the company signed an exclusive offtake agreement with NTM Minerals Limited to secure 88,000 tonnes of copper.
In July 2025, the company entered into a merger agreement with Volato Group, Inc., a Delaware corporation. However, on June 4, 2026, Volato terminated the merger agreement, and both parties signed a Mutual Termination and Release Agreement on July 9, 2026.
Recently Issued Accounting Pronouncements
The company is evaluating the impact of two recent accounting standards updates from the Financial Accounting Standards Board (FASB):
- ASU 2023-09, which enhances the transparency of income tax disclosures.
- ASU 2024-03, which requires public entities to disclose additional information about specific expense categories.
Liquidity and Capital Resources
As of June 30, 2026, the company had a cash balance of $54,661, down from $515,438 at the end of 2025. The company incurred negative cash flow from operations of $1,650,150 for the period ended June 30, 2026, compared to $1,522,627 in the prior year period. The company expects capital expenditures to increase significantly as it expands operations, and it anticipates the need to raise significant debt or equity capital to fund future operations.
The company’s cash on hand is not sufficient to fund its operations for the next twelve months, and this raises substantial doubt about its ability to continue as a going concern. The company will require additional debt or equity financing to continue operations, but there is no assurance that such financing will be available on acceptable terms, or at all.
Results of Operations
For the three and six months ended June 30, 2026, and June 30, 2025, the company’s revenues totaled $0, as it remains pre-revenue and has not entered into any agreement that is expected to generate revenue in the near term.
Operating expenses increased to $1,670,119 for the three months ended June 30, 2026, compared to $1,367,496 for the same period in 2025. For the six months ended June 30, 2026, operating expenses increased to $3,682,850, compared to $2,417,257 for the same period in 2025. The increases were primarily due to higher professional fees and general and administrative expenses.
The company anticipates future operating expenses to increase with the expansion of operations, resulting in increased expenses related to compensation and professional fees.
Off Balance Sheet Arrangements
The company does not have any off-balance sheet arrangements.
Cybersecurity
The company recognizes the critical importance of developing, implementing, and maintaining robust cybersecurity measures to safeguard its information systems and protect the confidentiality, integrity, and availability of its data. The company has strategically integrated cybersecurity risk management into its broader risk management framework and has implemented processes to oversee and manage risks associated with third-party service providers. The company has not encountered any cybersecurity challenges that have materially impaired its operations or financial standing.
