SUMMIT NETWORKS INC
0.4000-0.32 (-44.6%)
Oct 29, 4:00:00 PM EDT · OTC Markets OTCQB · SNTW · USD
Key Stats
Market Cap
27.56MP/E (TTM)
-Basic EPS (TTM)
0.00Dividend Yield
0%Recent Filings
8-K
Board refresh and bylaws update
Summit Networks bolstered its governance on October 12, 2025, by appointing Lei Yang as an independent director and Audit Committee Chair, leveraging her extensive accounting background from roles at China Kingho Energy and others. Two directors resigned without disagreement on October 15, prompting the re-appointment of Jian Hua Shu as Vice Chair and reconstitution of the three-member independent Audit Committee. Bylaws were amended to enable virtual shareholder meetings and set a 120-day post-year-end deadline for annual gatherings. Yang earns modest fees for filings and coordination. Resignations smooth transitions.
8-K
Director resigns without disputes
Summit Networks Inc. announced the resignation of director Zhen (Pearl) Liao on October 2, 2025, effective immediately. The move stemmed from personal reasons, with no disputes over operations, policies, or practices. No replacement has been named yet. This leaves the board leaner amid the company's early-stage growth phase.
8-K
Board refreshes with new directors
Summit Networks Inc. saw two independent directors resign in 2025—Weiwei Jiang on April 30 and Jianhua Shu on August 25—due to expired terms, with no disputes over operations or policies. The board swiftly appointed Zhen Liao, Hong Yu, and Xuezhi Ma as replacements, forming a new audit committee; Liao and Yu each received 30,000 shares, Ma got 50,000 for their two-year terms. New faces bring bookkeeping and trading expertise. Board stays intact.
10-Q
Q2 FY2025 results
Summit Networks notched its first revenue of $2,535 in Q2 2025 ended June 30, up from zero a year earlier, yet cost overruns left a $749 gross loss while operating expenses climbed 6.4% y/y to $82,069 on higher consulting fees. For the half-year, revenue held at $2,535 but net loss widened 20.4% y/y to $167,723, with operating loss at $165,800; the gap stems from $1,923 in interest expense on related-party debt. Cash dwindled to $15,664 amid $135,217 in operating outflows, offset by $118,530 in related-party loans, leaving a $734,645 working capital deficit. Post-quarter, the CEO pledged up to CAD$500,000 in funding. Weak internal controls persist as a key risk.
8-K
Trading halt sparks CEO loan
Summit Networks faces a temporary trading suspension from the British Columbia Securities Commission over audit compliance, blocking share sales for funds. CEO Chao Long Huang steps in with up to $500,000 bridge financing, approved August 11, 2025. The company has now hired a qualifying auditor. No equity shift here. Forward-looking risks loom from economic swings.
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