This restatement is a negative signal about internal controls and accounting accuracy for a pre-revenue micro-cap with a going concern warning. Monitor for any further restatements or auditor changes. The company needs to raise capital to continue operations — watch for dilutive equity offerings or related-party loan conversions.
Price Chart
Executive Summary
Goldenwell Biotech filed Amendment No. 1 to its Q1 2025 10-Q to restate financials after its auditor notified management that a $9,840 legal invoice was improperly recorded in the wrong quarter. The restatement increases Q1 2025 net loss by $4,160 to $38,536 and accrued legal fees by $4,160, with no change to total assets or cash. The company remains a development-stage entity with zero revenue, an accumulated deficit of $1.4M, and a going concern warning.
Key Facts
- Restatement increases Q1 2025 net loss by $4,160 to $38,536 (from originally reported $34,376) due to mis-timing of a $9,840 legal invoice.
- Accrued legal fees increased by $4,160 to $4,160; accumulated deficit widened to $1,398,181.
- Company has zero revenue, $17,127 cash, negative working capital of $(277,693), and a going concern warning.
- Accumulated net loss since inception is $1,398,181; total stockholders' equity is negative $(85,778).
- Restatement triggered by auditor notification on May 19, 2026; prior 8-K filed May 27, 2026 disclosed financials could no longer be relied upon.
Financial Impact
Q1 2025 net loss increased by $4,160 to $38,536; accrued legal fees increased by $4,160; accumulated deficit widened to $1,398,181. No change to total assets or cash.
Risk Factors
- Going concern risk — accumulated deficit of $1.4M, zero revenue, negative equity, and only $17K cash.
- Material weakness in internal controls evidenced by the restatement; risk of further accounting errors.
- Dependence on related-party loans ($95,588) and need for $5M in financing to execute business plan.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 10-Q/A Filing (Primary) | 0001477932-26-004052 |
| Document: gdwl_ex311.htm | 0001477932-26-004052 |
| Document: gdwl_ex312.htm | 0001477932-26-004052 |
| Document: gdwl_ex322.htm | 0001477932-26-004052 |
| Document: gdwl_ex321.htm | 0001477932-26-004052 |
| Document: 0001477932-26-004052-index-headers.html | 0001477932-26-004052 |
| Document: 0001477932-26-004052-index.html | 0001477932-26-004052 |
| Document: 0001477932-26-004052.txt | 0001477932-26-004052 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 17d ago | SC 13D | $0.6897 $0.6000 | ▼ −13.01% | ▼ −11.04% | $0.6500 (−5.76%) |
Oct 9, 2026 17d ago | 3 | $0.6897 $0.6000 | ▼ −13.01% | ▼ −11.04% | $0.6500 (−5.76%) |
Oct 9, 2026 17d ago | 8-K | $0.6897 $0.6000 | ▲ +13.01% | ▲ +11.04% | $0.6500 (+5.76%) |
Sep 29, 2026 27d ago | 8-K | $0.6897 $0.6897 | · 0.00% | ▲ +1.95% | $0.6500 (+5.76%) |
Jun 29, 2026 17w ago | 10-Q/A | $0.5200 $0.5200 | · 0.00% | ▲ +1.39% | $0.6500 (−25.00%) |
Jun 26, 2026 17w ago | 10-Q/A | $0.5200 $0.5200 | · 0.00% | ▲ +1.39% | $0.6500 (−25.00%) |
Jun 26, 2026 17w ago | 10-Q/A | $0.5200 $0.5200 | · 0.00% | ▲ +1.39% | $0.6500 (−25.00%) |
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