This filing is a procedural disclosure of target financials for a completed acquisition. The target's H1 2026 revenue growth is positive, but its FY2025 revenue declined and both periods show losses. Monitor Masonglory's next quarterly report for the first combined results and any integration commentary.
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Executive Summary
Masonglory filed a Form 6-K providing audited and unaudited financial statements of Beta Beteiligungs und Besitz GmbH, the target of its August 2026 acquisition of a 20% equity interest. The filing is procedural, fulfilling SEC Rule 3-05 and Article 11 requirements for a significant business acquisition. The target's financials show a strong H1 2026 with revenue of $13.1M (up 52% YoY) and net income of $102K, but the acquisition consideration of $4.7M in shares is modest relative to Masonglory's market cap and the target's $23.4M valuation.
Key Facts
- Masonglory acquired a 20% equity interest in Beta Beteiligungs und Besitz GmbH in August 2026 via a share swap.
- Consideration was 1,377,000 Class A ordinary shares valued at $4,723,110 based on a $3.40 per share price.
- The target's 100% equity was independently valued at $23,400,000.
- Target's H1 2026 revenue was $13,078,143 (up 52% from $8,598,119 in H1 2025).
- Target's H1 2026 net income was $102,036 (down from $163,484 in H1 2025).
- Target's FY2025 revenue was $21,877,789 (down 13.6% from $25,314,281 in FY2024).
- Target's FY2025 net loss was $335,502 (vs $364,293 loss in FY2024).
- Pro forma combined revenue for the year ended March 31, 2026 would have been $36,633,982.
- Pro forma combined net loss for the year ended March 31, 2026 would have been $8,311,824.
- The beneficial owner of the transferred interest will hold less than 5% of Masonglory's voting power post-closing.
Financial Impact
Acquisition consideration of $4.7M in shares for a 20% stake valued at $4.68M (20% of $23.4M). Target's H1 2026 revenue of $13.1M and net income of $102K. Pro forma combined revenue of $36.6M but pro forma net loss of $8.3M.
Risk Factors
- Target's revenue declined 13.6% in FY2025, indicating potential demand weakness.
- Target has a working capital deficit and relies on bank overdrafts and related-party funding.
- Pro forma combined entity shows a significant net loss of $8.3M for the year ended March 31, 2026.
- The 1,377,000 Consideration Shares represent approximately 8.8% dilution to existing Masonglory shareholders.
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001185185-26-004913 |
| Document: masonex99-1.htm | 0001185185-26-004913 |
| Document: masonex99-3.htm | 0001185185-26-004913 |
| Document: mason6k102126.htm | 0001185185-26-004913 |
| Document: 0001185185-26-004913-index-headers.html | 0001185185-26-004913 |
| Document: 0001185185-26-004913-index.html | 0001185185-26-004913 |
| Document: 0001185185-26-004913.txt | 0001185185-26-004913 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | 6-K | $2.72 $2.73 | ▲ +0.37% | ▲ +0.89% | $2.73 (+0.37%) |
Oct 21, 2026 5d ago | 6-K | $2.38 $2.72 | ▲ +14.29% | ▲ +15.47% | $2.73 (+14.71%) |
Oct 6, 2026 20d ago | 6-K | $5.01 $4.30 | ▲ +14.17% | ▲ +13.93% | $2.73 (+45.51%) |
Sep 28, 2026 28d ago | 6-K | $3.13 $4.44 | ▼ −41.85% | ▼ −42.04% | $2.73 (+12.78%) |
Sep 28, 2026 28d ago | Press Release | $3.13 $4.44 | ▼ −41.85% | ▼ −42.04% | $2.73 (+12.78%) |
Sep 24, 2026 4w ago | 6-K | $1.97 $8.07 | ▼ −309.64% | ▼ −309.10% | $2.73 (−38.58%) |
Aug 25, 2026 8w ago | 6-K | $2.25 $2.06 | ▼ −8.44% | ▼ −8.47% | $2.73 (+21.33%) |
Aug 13, 2026 10w ago | Press Release | $2.85 $2.75 | ▼ −3.51% | ▼ −3.31% | $2.73 (−4.21%) |
Aug 6, 2026 11w ago | 6-K | $0.2801 $0.2697 | ▲ +3.71% | ▲ +4.32% | $2.73 (−874.65%) |
Aug 6, 2026 11w ago | Press Release | $0.2801 $0.2697 | ▼ −3.71% | ▼ −4.32% | $2.73 (+874.65%) |
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