PCMC: Cash Rises to $274K but No Revenue; Dependent on Related‑Party Loans

Public Company Management Corporation (PINK: PCMC) - quick internal update and income-statement takeaways.

Snapshot - what's happening inside

* Cash balance improved to $273,978 as of June 30, 2025 (up from $100,035 on Sept 30, 2024).
* No revenues reported for the three- or nine-month periods ended June 30, 2025 (and 2024).
* Company remains a shell and is actively seeking a business combination; management is in exploratory discussions with the controlling shareholder of Physicians Capital Management Corporation.
* Heavy reliance on related-party funding and short‑term, demand payables: Short-Term Payables $450,000; Note payable - related party $350,000; Accrued interest payable - related party $91,904 (total related-party note + accrued interest $441,904).
* The promissory note principal of $350,000 has been extended to a December 31, 2026 maturity date.

Key balance-sheet facts

* Total Assets: $273,978 (June 30, 2025).
* Total Liabilities: $919,678 (June 30, 2025).
* Stockholders' deficit: $(645,700).
* Accumulated deficit: $(5,699,716).
* Common shares outstanding: 34,276,816.

Income-statement highlights (factual numbers)

* Revenues: $0 for the three and nine months ended June 30, 2025.
* General & administrative expenses: $23,239 (three months ended June 30, 2025) - $65,481 (nine months ended June 30, 2025).
* Interest expense: $(2,625) for the three months; $(7,875) for the nine months ended June 30, 2025.
* Net loss: $(25,864) (three months) and $(73,356) (nine months) ended June 30, 2025.
* Basic & diluted loss per share: $(0.00) (reported due to rounding) - weighted average shares 34,276,816.

Positive aspects (income statement / operational)

* Cash position increased materially during the period (net increase in cash $173,943 for nine months ended June 30, 2025), providing short-term runway.
* Operating costs are relatively small in absolute dollars (G&A $65,481 YTD), which limits cash burn compared with larger operating companies.
* No accounts receivable - no collections risk from customers because there are currently no customer contracts reported.

Negative aspects (income statement / risks)

* Zero revenues - core problem: no operating income to cover expenses or service debt.
* Net loss widened to $(73,356) YTD vs $(44,586) prior year YTD - losses increasing.
* Company remains dependent on related-party loans and demand payables (short-term payables $450,000 with no formal documentation) - liquidity and governance risk.
* Stockholders' deficit $(645,700) and accumulated deficit $(5,699,716) - significant historical losses and negative equity.
* Independent accountants expressed substantial doubt about the company's ability to continue as a going concern; reliance on third‑party funding (Repository Services LLC / Specialty Capital Lenders LLC) to operate.
* Potential dilution and control change risk if management completes a business combination using equity.

Operational notes / governance

* Management plans to fund ongoing costs (filings, professional fees, transaction analysis) via advances/loans from affiliated parties; estimated SEC/reporting costs $10k-$12k per year.
* No R&D, no advertising, and no depreciation expense reported for the periods - company is essentially non‑operational pending a transaction.
* Short‑term payables and some related-party accrued liabilities have informal terms (due on demand) - increases counterparty and liquidity risk.

Bottom line - investor takeaway

* PCMC is a non‑revenue shell with limited operating expenses and a small cash balance recently increased by investor advances. The company's near-term survival depends on continued related‑party financing or closing a business combination.
* Key red flags: zero revenues, recurring losses, significant accumulated deficit, demand debt with related parties, and an auditor‑noted going‑concern risk. Potential upside rests entirely on a successful acquisition/combination or new financing; downside includes further dilution or insolvency if funding stops.