Mass Megawatts Wind Power, Inc.
0.2990+0.00 (+0%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCPK · MMMW · USD
Key Stats
Market Cap
670.02KP/E (TTM)
-Basic EPS (TTM)
-0.27Dividend Yield
0%Recent Filings
8-K
1-for-100 reverse split executed
Mass Megawatts Wind Power executed a 1-for-100 reverse stock split on July 26, 2024, combining every 100 outstanding common shares into one to streamline its capital structure. Fractional shares receive a whole share via rounding, a standard procedure that avoids cash payouts. Old certificates automatically adjust without exchange. This move aids compliance but risks diluting shareholder value if not tied to growth.
8-K
Auditor dismissal and replacement
Mass Megawatts Wind Power dismissed its auditor BF Borgers CPA PC effective May 3, 2024, amid the firm's SEC ban from practicing before the Commission, and promptly engaged Hudgens CPA, PLLC as replacement on May 14. No disagreements arose during the fiscal year ended April 30, 2023, or thereafter, though the prior audit included a going concern emphasis. The switch ensures audit continuity. BF Borgers is barred from SEC appearances.
8-K
Auditor dismissed amid SEC ban
Mass Megawatts Wind Power Inc. dismissed its auditor BF Borgers CPA PC on May 3, 2024, amid the firm's SEC ban from practicing before the agency starting that date. No disagreements arose over accounting or auditing matters during the fiscal year ended April 30, 2023, or thereafter, though the prior audit report flagged substantial going concern doubts. This switch underscores ongoing financial pressures but ensures clean audit history.
8-K
Reverse split approved
Mass Megawatts Wind Power Inc. secured stockholder approval on March 26, 2024, for a reverse stock split of its common stock at a ratio between 1:2 and 1:100, empowering the board to select the exact ratio and timing within one year. With 97,405,919 shares—56% of outstanding—voting in favor out of 119,817,334 participating (69.57% turnout), the move aims to meet exchange listing standards. Board discretion shapes execution. Yet, dilution risks linger for minority holders.
10-Q
Q3 FY2024 results
Mass Megawatts Wind Power posted a Q3 FY2024 net loss of $48,852, up 27% y/y from $38,415, while nine-month losses widened to $257,802 from $187,742, driven by higher general and administrative expenses of $211,416 versus $187,742 y/y. Operating losses matched net losses at $46,858 for the quarter, but nine-month net results diverged materially due to $107,773 in interest expense from debt discount amortization, offset partly by a $61,387 gain on derivative liability changes. Cash edged up to $2,245 from $1,829 at FY end, fueled by $114,375 in share sales, though operating cash burn hit $114,409 over nine months. Convertible debt to the president totaled $106,754 net, with a $127,613 derivative liability. No revenue yet. Funding remains tight.
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