FGNV
Forge Innovation Development Corp.0.0111
+0.0000+0%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
559.32KP/E (TTM)
-Basic EPS (TTM)
-0.01Dividend Yield
0%Recent Filings
10-Q
8-K
Forge divests distressed LP stake
Forge Innovation Development Corp. completed the divestiture of its 51% partnership interest in Legend International Investment LP to Legend LLC on July 27, 2025, reversing a 2023 acquisition amid Legend LP's severe financial distress and foreclosure risks. The non-cash transaction returned the original 1,967,143 Forge shares issued as $1,377,000 consideration, freeing Forge from further support obligations. Legend LP exits consolidation. Pro forma impacts await future filing.
10-Q
Q2 FY2025 results
Forge Innovation Development Corp. posted Q2 revenue of $193,275, up 10% y/y from $175,899, driven by steady rent income while adding $12,000 in property management fees from related parties. Operating expenses dropped sharply to $223,676 from $679,401, mainly due to no share-based compensation this year, yielding an operating loss of $30,401 versus $503,502 last year. Yet net loss widened slightly to $121,359 from $689,371 after higher interest costs on the $5M commercial loan at 7.375%. Cash climbed to $52,282, with operating cash flow at $70,140 for the half-year; free cash flow not disclosed in the 10-Q. Debt stands at $5.5M total, including a variable-rate mortgage maturing 2034. Ongoing litigation over past leases poses collection risks.
10-Q
Q1 FY2025 results
Forge Innovation Development Corp. posted Q1 FY2025 revenue of $175,200 from rent income, up 29% year-over-year from $136,219, thanks to more units rented out in March. Operating expenses dropped sharply to $307,157 from $689,627, mainly because share-based compensation vanished after last year's $494,028 hit, though selling, general, and administrative costs climbed to $182,142 from $66,090 on audit fees. This trimmed the net loss to $222,109 from $680,209, with diluted EPS improving to $(0.00) from $(0.01) on 50,389,011 shares; the gap between operating and net loss stems from $91,202 in interest expense. Cash dwindled to $10,026 from $32,403, with operating cash use at $18,764 versus $79,068 last year, while total debt stood at $5.45M including a $5M variable-rate commercial loan maturing 2034. Receivership over subsidiary Legend LP, suspended in March, disrupted rent collection but awaits fund returns. Ongoing legal disputes pose risks to operations.
10-K
FY2024 results
Forge Innovation Development Corp. posted FY2024 revenue of $668,339, up 52% year-over-year from $438,474, driven by full-year consolidation of its Legend LP subsidiary's rent income, which surged 70% to $668,339 as more units leased out—yet the company swung to a net loss of $1.56 million, widening from $1.25 million, hammered by $929K in share-based compensation and higher depreciation. Q4 momentum faltered amid ongoing legal battles, including a court-ordered receivership over Legend LP that diverted early 2025 rents, though the order was suspended in March. Cash dwindled to $32K by year-end, with $5.4 million in debt refinanced at 7.375% variable rate maturing 2034, underscoring tight liquidity. No dividends or buybacks; capex focused on property tweaks. Ongoing litigation risks could further snag quarterly cash flows.
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