ADM Endeavors flags going-concern doubt, $443K deficit
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
ADM Endeavors, Inc. (ADMQ) reported third-quarter revenue of $2,251,326, up 2.1% from $2,205,225, while net income was $197,088 versus $215,976. For the nine months ended September 30, 2026, revenue increased 6.5% to $4,583,870 from $4,305,588, but net income declined to $127,075 from $250,321. Lower direct costs were offset in part by higher general and administrative expense; interest and derivative-related expense and prior-year insurance proceeds affected the year-to-date comparison.
Cash from operations was $31,193, and cash was $255,559 at September 30, 2026. ADMQ reported a $442,741 working-capital deficit and said these conditions raise substantial doubt about its ability to continue as a going concern. It expects further capital investment to complete its new retail facility and may seek financing or sell unused land; it said there is no assurance additional capital will be available. Management concluded disclosure controls were not effective as of September 30, 2026.
On November 2, 2026, ADMQ issued 6,410,274 common shares to Womack Capital Partners upon conversion of a $220,000 convertible note.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNine-month revenue increased 6.5% to $4.58 million.
Negative
- Major pointGoing-concern substantial doubt accompanies a $442,741 working-capital deficit.
- Moderate pointNine-month net income fell to $127,075 from $250,321.
- Moderate pointDisclosure controls were deemed ineffective as of September 30, 2026.
- Minor pointThird-quarter net income was $197,088, versus $215,976.
Filing Explained
This report describes GHS’s existing equity agreement: up to
Key Figures
Key Terms
going concern basis financial
working capital deficit financial
derivative liabilities financial
variable conversion feature technical
anti-dilutive financial
Level 3 financial
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was ADMQ's revenue for the first nine months of 2026?
How much net income did ADMQ report in 2026?
What did ADMQ say about its ability to continue as a going concern?
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AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
For
the quarterly period ended
For the transition period from ______ to _______
Commission
File Number
(Exact name of registrant as specified in its charter)
| (State of incorporation) | (I.R.S. Employer Identification No.) |
(Address of principal executive offices)
(Registrant’s telephone number)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| N/A | N/A | N/A |
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large Accelerated Filer | ☐ | Accelerated Filer | ☐ |
| ☒ | Smaller Reporting Company | ||
| Emerging Growth Company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No
As
of November 13, 2026, there were
ADM ENDEAVORS, INC.
| TABLE OF CONTENTS | Page | ||
| PART I. FINANCIAL INFORMATION | 3 | ||
| ITEM 1. | CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) | 4 | |
| ITEM 2. | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS | 18 | |
| ITEM 3. | QUALITATIVE AND QUANTITATIVE DISCLOSURES ABOUT MARKET RISK | 20 | |
| ITEM 4. | CONTROLS AND PROCEDURES | 20 | |
| PART II. OTHER INFORMATION | 21 | ||
| ITEM 1. | LEGAL PROCEEDINGS | 21 | |
| ITEM 1A. | RISK FACTORS | 21 | |
| ITEM 2. | UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS | 21 | |
| ITEM 3. | DEFAULTS UPON SENIOR SECURITIES | 21 | |
| ITEM 4. | MINE SAFETY DISCLOSURES | 21 | |
| ITEM 5. | OTHER INFORMATION | 21 | |
| ITEM 6. | EXHIBITS | 22 | |
| 2 |
PART I – FINANCIAL INFORMATION
TABLE OF CONTENTS
| Index to Financial Statements | Page | |
| Consolidated Balance Sheets as of September 30, 2026 and December 31, 2025 (unaudited) | 4 | |
| Consolidated Statements of Operations for the three and nine months ended September 30, 2026 and 2025 (unaudited) | 5 | |
| Consolidated Statements of Shareholders’ Equity for the nine months ended September 30, 2026 and 2025 (unaudited) | 6 | |
| Consolidated Statements of Cash Flows for the nine months ended September 30, 2026 and 2025 (unaudited) | 7 | |
| Notes to the Consolidated Financial Statements (unaudited) | 8 |
| 3 |
ITEM 1. FINANCIAL STATEMENTS
ADM Endeavors, Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited)
| As of | As of | |||||||
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash | $ | $ | ||||||
| Accounts receivable, net | ||||||||
| Other receivable, related party | ||||||||
| Inventory | ||||||||
| Prepaid expenses and other current assets | ||||||||
| Total current assets | ||||||||
| Noncurrent assets | ||||||||
| Property and equipment, net | ||||||||
| Goodwill | ||||||||
| Deferred financing costs | ||||||||
| Total assets | $ | $ | ||||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | $ | ||||||
| Accounts payable - related party | ||||||||
| Accounts payable | ||||||||
| Accrued expenses | ||||||||
| Accrued interest - related party | - | |||||||
| Income tax payable | ||||||||
| Lines of credit - related party | - | |||||||
| Convertible note payable | ||||||||
| Derivative liabilities | ||||||||
| Total current liabilities | ||||||||
| Noncurrent liabilities | ||||||||
| Deferred tax liability | ||||||||
| Notes payable - secured, net of discount | ||||||||
| Total noncurrent liabilities | ||||||||
| Total liabilities | ||||||||
| Commitments and contingencies | - | |||||||
| Stockholders’ equity | ||||||||
| Preferred stock, $ | ||||||||
| Common stock, $ | ||||||||
| Additional paid-in capital | ||||||||
| Retained earnings | ||||||||
| Total stockholders’ equity | ||||||||
| Total liabilities and stockholders’ equity | $ | $ | ||||||
See accompanying notes to unaudited consolidated financial statements.
| 4 |
ADM Endeavors, Inc. and Subsidiaries
Consolidated Statements of Operations
For the Three and Nine Months Ended September 30, 2026 and 2025
(Unaudited)
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| For the three months ended September 30, | For the nine months ended September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Revenue | ||||||||||||||||
| School uniform sales | $ | $ | $ | $ | ||||||||||||
| Promotional sales | ||||||||||||||||
| Total revenue | ||||||||||||||||
| Operating expenses | ||||||||||||||||
| Direct costs of revenue | ||||||||||||||||
| General and administrative | ||||||||||||||||
| Marketing and selling | ||||||||||||||||
| Total operating expenses | ||||||||||||||||
| Operating income (loss) | ( | ) | ||||||||||||||
| Other income (expense) | ||||||||||||||||
| Gain (loss) on change in fair value of derivative liabilities | ( | ) | ( | ) | ( | ) | ||||||||||
| Gain on sale of property | - | - | ||||||||||||||
| Other income | ||||||||||||||||
| Interest expense | ( | ) | ( | ) | ( | ) | ( | ) | ||||||||
| Total other income (expense) | ( | ) | ( | ) | ||||||||||||
| Income before tax provision | ||||||||||||||||
| Provision for income taxes | - | - | - | - | ||||||||||||
| Net income | $ | $ | $ | $ | ||||||||||||
| Net income per share - basic | $ | $ | $ | $ | ||||||||||||
| Net income per share - diluted | $ | $ | $ | $ | ||||||||||||
| Weighted average number of shares outstanding | ||||||||||||||||
| basic | ||||||||||||||||
| diluted | ||||||||||||||||
See accompanying notes to unaudited consolidated financial statements.
| 5 |
ADM Endeavors, Inc. and Subsidiaries
Consolidated Statements of Shareholders’ Equity
For the Nine Months Ended September 30, 2026 and 2025
(Unaudited)
| Shares | Amount | Shares | Amount | Capital | Payable | Earnings | Total | |||||||||||||||||||||||||
| Additional | ||||||||||||||||||||||||||||||||
| Preferred Stock | Common Stock | Paid In | Stock | Retained | ||||||||||||||||||||||||||||
| Shares | Amount | Shares | Amount | Capital | Payable | Earnings | Total | |||||||||||||||||||||||||
| Balance at December 31, 2025 | $ | $ | $ | $ | - | $ | $ | |||||||||||||||||||||||||
| Net loss | - | - | - | - | - | - | ( | ) | ( | ) | ||||||||||||||||||||||
| Balance at March 31, 2026 | - | |||||||||||||||||||||||||||||||
| Net income | - | - | - | - | - | - | ||||||||||||||||||||||||||
| Balance at June 30, 2026 | - | |||||||||||||||||||||||||||||||
| Net income | - | - | - | - | - | - | ||||||||||||||||||||||||||
| Balance at September 30, 2026 | $ | $ | $ | $ | - | $ | $ | |||||||||||||||||||||||||
| Balance at December 31, 2024 | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||
| Net income | - | - | - | - | - | - | ||||||||||||||||||||||||||
| Balance at March 31, 2025 | ||||||||||||||||||||||||||||||||
| Stock-based compensation | - | - | ( | ) | - | |||||||||||||||||||||||||||
| Net loss | - | - | - | - | - | - | ( | ) | ( | ) | ||||||||||||||||||||||
| Balance at June 30, 2025 | - | |||||||||||||||||||||||||||||||
| Balance | - | |||||||||||||||||||||||||||||||
| Net income | - | - | - | - | - | - | ||||||||||||||||||||||||||
| Balance at September 30, 2025 | $ | $ | $ | $ | - | $ | $ | |||||||||||||||||||||||||
| Balance | $ | $ | $ | $ | - | $ | $ | |||||||||||||||||||||||||
See accompanying notes to unaudited consolidated financial statements.
| 6 |
ADM Endeavors, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
For the Nine Months Ended September 30, 2026 and 2025
(Unaudited)
| 2026 | 2025 | |||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | $ | ||||||
| Adjustments to reconcile net income to net cash provided by continuing operations: | ||||||||
| Bad debt expense | ||||||||
| Stock-based compensation | - | |||||||
| Depreciation and amortization | ||||||||
| Amortization of debt discount | ||||||||
| Change in derivative liability | ( | ) | ||||||
| Loss on disposal of fixed assets | - | |||||||
| Gain on insurance claim | ( | ) | ||||||
| Gain on sale of property | - | ( | ) | |||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | ( | ) | ( | ) | ||||
| Other receivable, related party | ( | ) | ||||||
| Inventory | ||||||||
| Prepaid expenses and other assets | ( | ) | ||||||
| Accounts payable | ( | ) | ||||||
| Accounts payable - related party | ( | ) | ( | ) | ||||
| Accrued expenses | ( | ) | ( | ) | ||||
| Accrued interest - related party | - | |||||||
| Income tax payable | ( | ) | - | |||||
| Net cash provided by operating activities | ||||||||
| Cash flows from investing activities: | ||||||||
| Purchase of property and equipment | ( | ) | ( | ) | ||||
| Proceeds from insurance | - | |||||||
| Proceeds from sale of property | - | |||||||
| Net cash used in investing activities | ( | ) | ( | ) | ||||
| Cash flows from financing activities: | ||||||||
| Repayments on notes payable | ( | ) | ( | ) | ||||
| Proceeds from line of credit - related party | - | |||||||
| Repayments on line of credit - related party | ( | ) | - | |||||
| Proceeds from convertible note payable | - | |||||||
| Proceeds from note payable | - | |||||||
| Net cash provided by financing activities | ||||||||
| Net change in cash | ( | ) | ( | ) | ||||
| Cash at beginning of period | ||||||||
| Cash at end of period | $ | $ | ||||||
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid for interest | $ | $ | ||||||
| Cash paid for taxes | $ | - | $ | - | ||||
| Non-cash investing and financing activities: | ||||||||
| Capitalized loan costs | $ | $ | ||||||
| Deferred financing costs | $ | $ | - | |||||
| Expenses paid on behalf of the Company | $ | $ | - | |||||
| Debt discount created by derivative liability | $ | $ | - | |||||
See accompanying notes to unaudited consolidated financial statements.
| 7 |
ADM ENDEAVORS, INC. and Subsidiaries
Notes to the Consolidated Financial Statements
September 30, 2026
(Unaudited)
NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS
On
January 4, 2001, we were incorporated in North Dakota as ADM Enterprises, Inc. On May 9, 2006, the Company changed its name to ADM Endeavors,
Inc. (“ADM Endeavors,” “ADM,” “we,” “us,” “our,” or the “Company”)
and its domicile to the state of Nevada. On July 1, 2008, the Company acquired all of the assets of ADM Enterprises, LLC (“ADM
Enterprises”), a sole proprietorship owned by Ardell and Tammera Mees, in exchange for
On
April 19, 2018, the Company acquired Just Right Products, Inc. (“JRP”), a Texas corporation. JRP was incorporated on January
17, 2010. The acquisition of
On April 27, 2023, the Company entered into an Asset Purchase Agreement with Innovative Impressions, Inc., a Texas corporation (the “Seller”), pursuant to which the Company acquired (the “Acquisition”) embroidery equipment, inventory, and related assets from the Seller.
JRP is focused on being an added value reseller with concentration in embroidery, screen printing, importing and uniforms for businesses, schools and individuals in the State of Texas.
NOTE 2 - GOING CONCERN AND MANAGEMENT’S PLANS
As
of September 30, 2026, the Company had a working capital deficit of $
These consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These matters raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable period of time, which is defined as within one year after the date that the consolidated financial statements are issued. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from uncertainty related to our ability to continue as a going concern.
NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The Company follows the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and has a year-end of December 31.
Management further acknowledges that it is solely responsible for adopting sound accounting practices, establishing and maintaining a system of internal accounting control and preventing and detecting fraud. The Company’s system of internal accounting control is designed to assure, among other items, that 1) recorded transactions are valid; 2) valid transactions are recorded; and 3) transactions are recorded in the proper period in a timely manner to produce financial statements which present fairly the financial condition, results of operations and cash flows of the Company for the respective periods being presented.
| 8 |
The unaudited consolidated financial statements of the Company for the three and nine month periods ended September 30, 2026 and 2025 have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Regulation S-K. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, such information reflects all adjustments (consisting solely of normal recurring adjustments), which are, in the opinion of management, necessary for the fair presentation of the financial position and the results of operations. Results shown for interim periods are not necessarily indicative of the results to be obtained for a full fiscal year. The balance sheet information as of December 31, 2025, was derived from the audited financial statements included in the Company’s financial statements as of and for the year ended December 31, 2025, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2026. These financial statements should be read in conjunction with that report.
Principles of Consolidation
The accompanying unaudited consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiary, JRP, at September 30, 2026. All significant intercompany balances and transactions have been eliminated.
Use of Estimates
The preparation of the Consolidated Financial Statements in accordance with U.S. GAAP requires management to make use of certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reported periods. The Company bases its estimates on historical experience and on various other assumptions that management believes are reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ from those estimates. Significant estimates are related to allowance for credit losses, inventory obsolescence, goodwill, derivative liability, stock-based compensation and deferred tax valuations.
Stock-Based Compensation
Stock-based
compensation expense is recorded in accordance with FASB ASC Topic 718, Compensation – Stock Compensation, for stock and stock
options awarded in return for services rendered. The expense is measured at the grant-date fair value of the award and recognized as
compensation expense on a straight-line basis over the service period, which is the vesting period. The Company estimates forfeitures
that it expects will occur and records expense based upon the number of awards expected to vest. During the nine months ended September
30, 2026 and 2025, the Company issued
Cash Equivalents
The
Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents.
At September 30, 2026, and December 31, 2025, the Company had
Allowance for Credit Losses
The
Company establishes an allowance for credit losses to ensure trade and notes receivable are not overstated due to non-collectability.
The Company’s allowance is based on a variety of factors, including age of the receivable, significant one-time events, historical
experience, and other risk considerations. The Company had
| 9 |
Inventory
Inventory
is valued at the lower of cost or net realizable value. During the nine months ended September 30, 2026 and 2025, cost was determined
using a FIFO. The Company decreases the value of inventory for estimated obsolescence equal to the difference between the cost of inventory
and the estimated market value, based upon an aging analysis of the inventory on hand, specifically known inventory-related risks, and
assumptions about future demand and market conditions. The Company has inventory of $
Two
vendors accounted for approximately
Derivative Instruments
Derivatives are measured at their fair value on the balance sheet. In determining the appropriate fair value, the Company uses the Black-Scholes-Merton option pricing model. Changes in fair value are recorded in Other Income (Expense) of the consolidated statements of operations.
Fair Value of Financial Instruments
The Company measures its financial assets and liabilities in accordance with U.S. GAAP. For certain of our financial instruments, including cash, accounts payable, accrued expenses, and short-term loans, the carrying amounts approximate fair value due to their short maturities.
We follow accounting guidance for financial and non-financial assets and liabilities. This standard defines fair value, provides guidance for measuring fair value and requires certain disclosures. This standard does not require any new fair value measurements, but rather applies to all other accounting pronouncements that require or permit fair value measurements. This guidance does not apply to measurements related to share-based payments. This guidance discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow), and the cost approach (cost to replace the service capacity of an asset or replacement cost). The guidance utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:
| Level 1: | Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. | |
| Level 2: | Inputs other than quoted prices that are observable, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. | |
| Level 3: | Unobservable inputs in which little or no market data exists, therefore developed using estimates and assumptions developed by us, which reflect those that a market participant would use. |
The Company adopted the provisions of FASB ASC 820 (the Fair Value Topic) which defines fair value, establishes a framework for measuring fair value under U.S. GAAP, and expands disclosures about fair value measurements.
The
Company had
Fixed Assets
Fixed assets are recorded at cost. Expenditures for major additions and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. Depreciation is computed by the straight-line method over the assets estimated useful life, except for land which is not depreciated. Upon the sale or retirement of property and equipment, the related cost and accumulated depreciation are removed from the accounts and any gain or loss is reflected in consolidated statements of operations.
SCHEDULE OF ESTIMATED USEFUL LIVES OF FIXED ASSETS
| Classification | Estimated Useful Lives | |
| Buildings | ||
| Equipment | ||
| Leasehold improvements | Shorter of useful life or lease term | |
| Furniture and fixtures | ||
| Websites |
| 10 |
Goodwill
Goodwill represents the excess of purchase price and related costs over the value assigned to the net tangible assets of businesses acquired. Goodwill is not amortized, but instead assessed for impairment. We perform our annual impairment review of goodwill in our fiscal fourth quarter or when a triggering event occurs between annual impairment tests. No impairment was recorded in fiscal 2026 or 2025 as a result of our qualitative assessments over our single reporting segment.
The Company performs a qualitative assessment for each of its reporting units to determine if the two-step process for impairment testing is required. If the Company determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, the Company would then evaluate the recoverability of goodwill using a two-step impairment test approach at the reporting unit level. In the first step, the fair value for the reporting unit is compared to its book value including goodwill. In the case that the fair value of the reporting unit is less than the book value, a second step is performed which compares the implied fair value of the reporting unit’s goodwill to the book value of the goodwill. The fair value for the goodwill is determined based on the difference between the fair values of the reporting unit and the net fair values of the identifiable assets and liabilities of such reporting unit. If the implied fair value of the goodwill is less than the book value, the difference is recognized as impairment.
Operating leases
The Company recognizes its leases in accordance with ASC 842 - Leases. Under ASC 842, operating lease right-of-use (“ROU”) assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. The initial lease liability is equal to the future fixed minimum lease payments discounted using the Company’s incremental borrowing rate, on a secured basis. The lease term includes option renewal periods and early termination payments when it is reasonably certain that the Company will exercise those rights. The initial measurement of the ROU asset is equal to the initial lease liability plus any initial direct costs and prepayments, less any lease incentives. The Company elected the short-term lease exemption for contracts with lease terms of 12 months or less. The Company accounts for the lease and non-lease components of its leases as a single lease component. Lease expense is recognized on a straight-line basis over the lease term.
In determining the classification of a lease as operating or finance, ASC 842 allows for the use of judgment in determining whether the lease term is for a major part of the remaining economic life of the underlying asset and whether the present value of lease payments represents substantially all of the fair value of the underlying asset. The Company applies the bright line thresholds referenced in ASC 842-10-55-2 to assist in evaluating leases for appropriate classification.
Impairment of Long-lived Assets
The Company follows paragraph 360-10-05-4 of the FASB Accounting Standards Codification for its long-lived assets. The Company’s long-lived assets, such as intellectual property, are required to be reviewed for impairment annually, or whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable.
The Company assesses the recoverability of its long-lived assets by comparing the projected undiscounted net cash flows associated with the related long-lived asset or group of long-lived assets over their remaining estimated useful lives against their respective carrying amounts. Impairment, if any, is based on the excess of the carrying amount over the fair value of those assets. Fair value is generally determined using the asset’s expected future discounted cash flows or market value, if readily determinable. If long-lived assets are determined to be recoverable, but the newly determined remaining estimated useful lives are shorter than originally estimated, the net book values of the long-lived assets are depreciated over the newly determined remaining estimated useful lives.
| 11 |
The
Company determined that there were
Revenue Recognition
We recognize revenue for merchandise sales, net of expected returns and sales tax, at the time of in-store purchase or delivery of the product to our customer. When merchandise is shipped to our customers, we estimate receipt based on historical experience. Revenue is deferred and a liability is established for sales returns based on historical return rates and sales for the return period. We recognize an asset and corresponding adjustment to the cost of sales for our right to recover returned merchandise. At each financial reporting date, we assess our estimates of expected returns, refund liabilities and return assets. For merchandise sold in our stores and online, tender is accepted at the point of sale. When we receive payment before the customer has taken possession of the merchandise, the amount received is recorded as deferred revenue until the transaction is complete. Our performance obligations for unfulfilled merchandise orders are typically satisfied within one week. Shipping and handling fees charged to guests relate to fulfilment activities and are included in net sales with the corresponding costs recorded in cost of sales.
Cost of Sales
Cost of sales includes the actual cost of merchandise sold and services performed; the cost of transportation of merchandise from vendors to our distribution network, stores, or customers; shipping and handling costs from our stores or distribution network to customers; and the operating cost and depreciation of our sourcing and distribution network and online fulfilment centers.
Net Income per Share
The Company computes basic and diluted income per share amounts pursuant to section 260-10-45 of the FASB Accounting Standards Codification. Basic income per share is computed by dividing net income available to common shareholders, by the weighted average number of shares of common stock outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted income per share is computed by dividing net income available to common shareholders by the diluted weighted average number of shares of common stock during the period. The diluted weighted average number of common shares outstanding is the basic weighted number of shares adjusted as of the first day of the year for any potentially diluted debt or equity.
The dilutive effect of outstanding convertible securities and preferred stock is reflected in diluted earnings per share by application of the if-converted method.
During
the three and nine months ended September 30, 2026, the impact of
| 12 |
The following is a reconciliation of basic and diluted earnings (loss) per common share for the three and nine months ended September 30, 2026 and 2025:
SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED EARNINGS (LOSS) PER COMMON SHARE
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| For the Three Months Ended | For the Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Basic earnings per common share | ||||||||||||||||
| Numerator: | ||||||||||||||||
| Net income available to common shareholders | $ | $ | $ | $ | ||||||||||||
| Denominator: | ||||||||||||||||
| Weighted average common shares outstanding | ||||||||||||||||
| Basic earnings per common share | $ | $ | $ | $ | ||||||||||||
| Diluted earnings per common share | ||||||||||||||||
| Numerator: | ||||||||||||||||
| Net income available to common shareholders | $ | $ | $ | $ | ||||||||||||
| Derivative (gain) loss associated with convertible debt | ( | ) | ||||||||||||||
| Add convertible debt interest | ||||||||||||||||
| Net income available to common shareholders | $ | $ | $ | $ | ||||||||||||
| Denominator: | ||||||||||||||||
| Weighted average common shares outstanding | ||||||||||||||||
| Preferred shares | - | - | ||||||||||||||
| Convertible debt | - | - | ||||||||||||||
| Adjusted weighted average common shares outstanding | ||||||||||||||||
| Diluted earnings per common share | $ | $ | $ | $ | ||||||||||||
Income Taxes
The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statements carrying amounts of existing assets and liabilities and loss carry forwards and their respective tax bases.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income (loss) in the years in which those temporary differences are expected to be recovered or settled.
The effect of a change in tax rules on deferred tax assets and liabilities is recognized in operations in the year of change. A valuation allowance is recorded when it is “more likely-than-not” that a deferred tax asset will not be realized.
Tax
benefits of uncertain tax positions are recognized only if it is more likely than not that the Company will be able to sustain a position
taken on an income tax return. The Company has
Segment Information
ASC 280, Segment Reporting (“ASC 280”), requires annual and interim reporting for an enterprise’s operating segments and related disclosures about its products, services, geographic areas and major customers. An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenues and expenses, and about which separate financial information is regularly evaluated by the Chief Operating Decision Maker (the “CODM”) in deciding how to allocate resources and assess performance.
Segment information is prepared on the same basis that the Company’s Chief Executive Officer (“CEO”), who serves as the CODM, manages the business, evaluates financial results, and makes key operating decisions. The Company has a single reportable operating segment based on how the CODM reviews financial performance and allocates resources. All assets of the Company’s operations are managed on a consolidated basis.
The CODM uses consolidated net income to assess the Company’s financial performance and make resource allocation decisions. The significant expense categories and amounts regularly provided to the CODM and included in consolidated net income are those presented in the consolidated statements of operations, to which reference is made for the Company’s single reportable segment disclosures. Segment assets are the same as total assets presented in the consolidated balance sheets.
Effect of Recent Accounting Pronouncements
Recently Issued Accounting Standards Not Yet Adopted
The Company has reviewed all recently issued, but not yet adopted, accounting standards, in order to determine their effects, if any, on its results of operations, financial position or cash flows. Based on that review, the Company believes that no other pronouncements will have a significant effect on its financial statements.
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NOTE 4 – COMMITMENTS AND CONTINGENCIES
Legal Matters
From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of November 13, 2026, there were no pending or threatened lawsuits.
Franchise Agreement
During
the nine months ended September 30, 2026, and 2025, the Company paid $
Uniform Supply Agreement
The
Company has an agreement to be the exclusive provider of school uniforms and logos for a charter school.
During
the nine months ended September 30, 2026 and 2025, the Company paid $
NOTE 5 – PROPERTY AND EQUIPMENT
Property and equipment and finance lease right of use assets, stated at cost, less accumulated depreciation at September 30, 2026, and December 31, 2025, consisted of the following:
SCHEDULE OF FIXED ASSETS
| September 30, 2026 | December 31, 2025 | |||||||
| Land | $ | $ | ||||||
| Equipment | ||||||||
| Autos and trucks | ||||||||
| Construction in process | ||||||||
| Less: accumulated depreciation | ( | ) | ( | ) | ||||
| Property and equipment, net | $ | $ | ||||||
Depreciation
expense for the nine months ended September 30, 2026, and 2025, was $
NOTE 6 – CONVERTIBLE NOTE PAYABLE AND NOTES PAYABLE
Convertible Note Payable
On
April 1, 2018, the Company assumed a convertible promissory note in connection with the reverse acquisition. The Company received total
funding of $
The
note is convertible into common stock at a price of
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On
June 22, 2026, the Company entered a convertible promissory note with Womack Capital Partners, in the aggregate principal amount of $
As
of September 30, 2026 and December 31, 2025, the convertible note balance was $
Derivative liabilities
The conversion features embedded in the convertible notes were evaluated to determine if such conversion feature should be bifurcated from its host instrument and accounted for as a freestanding derivative. In the convertible notes with variable conversion terms, the conversion feature was accounted for as a derivative liability. The derivatives associated with the term convertible notes were recognized as a discount to the debt instrument and the discount is amortized over the expected life of the notes with any excess of the derivative value over the notes payable value recognized as additional interest expense at the issuance date.
The following table presents information about the Company’s liabilities measured at fair value on a recurring basis and the Company’s estimated level within the fair value hierarchy of those assets and liabilities as of September 30, 2026, and December 31, 2025:
SCHEDULE OF FAIR VALUE LIABILITIES MEASURED ON RECURRING BASIS
| Level 1 | Level 2 | Level 3 | Fair value at September 30, 2026 | |||||||||||||
| Liabilities: | ||||||||||||||||
| Derivative liabilities | $ | - | $ | - | $ | $ | ||||||||||
| Level 1 | Level 2 | Level 3 | Fair value at December 31, 2025 | |||||||||||||
| Liabilities: | ||||||||||||||||
| Derivative liabilities | $ | - | $ | - | $ | $ | ||||||||||
As of September 30, 2026 and December 31, 2025, the
derivative liability was calculated using the Black-Scholes method over the expected terms of the convertible debt and the following assumptions
range: volatility of
SCHEDULE OF CHANGE IN FAIR VALUE OF DERIVATIVE LIABILITIES
| Fair value at December 31, 2025 | $ | |||
| Fair value on the date of issuance recorded as a debt discount | ||||
| Gain on change in fair value of derivative liabilities | ( | ) | ||
| Fair value at September 30, 2026 | $ |
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Notes Payable
On
October 25, 2022, the Company entered into a secured promissory note in the amount up of $
On
March 27, 2025, the Company entered into a secured promissory note in the amount up of $
As
of September 30, 2026, the secured notes payable balance was $
NOTE 7 – ACCRUED EXPENSES
The
Company had total accrued expenses of $
SCHEDULE OF ACCRUED EXPENSES
| September 30, 2026 | December 31, 2025 | |||||||
| Credit cards payable | $ | $ | ||||||
| Accrued interest | ||||||||
| Other accrued expenses | ||||||||
| Total accrued expenses | $ | $ | ||||||
NOTE 8 – RELATED PARTY TRANSACTIONS
The
majority shareholder, director and officer, is the owner of M & M Real Estate, Inc. (“M & M”). M & M leases the
Haltom City, Texas facility to the Company. The monthly lease payment, under a month-to-month lease, is currently $
On
March 27, 2026, the Company entered into a revolving credit agreement up to $
On
June 1, 2026, the Company entered into a revolving credit agreement up to $
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NOTE 9 – STOCKHOLDERS’ EQUITY
Our
Articles of Incorporation authorize the issuance of
On
December 19, 2025, the Company entered into an equity financing agreement (the “Equity Financing Agreement”) with GHS Investments
LLC (“GHS”), pursuant to which GHS will purchase up to $
NOTE 10 – CONCENTRATION OF CUSTOMERS
Concentration of Revenue
For the nine months ended September 30, 2026 and 2025, no customer made up over 10% of revenues.
Concentration of accounts receivable
One
customer accounted for
NOTE 11 – LEASE LIABILITY
Operating Leases
The Company leases office space. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Leases with initial terms in excess of 12 months are recorded as operating or financing leases in our consolidated balance sheet. Lease expense is recognized on a straight-line basis over the term of the lease. For leases beginning in 2018 and later, the Company accounts for lease components separately from the non-lease components. Most leases include one or more options to renew. The exercise of the lease renewal options is at the sole discretion of the Company. The depreciable life of the assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise.
The
Company leases approximately
NOTE 12 – SUBSEQUENT EVENTS
The Company has evaluated subsequent events through the filing date of this Form 10-Q and determined that no subsequent events have occurred that would require recognition in the consolidated financial statements or disclosures in the notes thereto.
On
November 2, 2026, the Company issued
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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION
SPECIAL NOTE CONCERNING FORWARD-LOOKING STATEMENTS
We believe that it is important to communicate our future expectations to our security holders and to the public. This report, therefore, contains statements about future events and expectations which are “forward-looking statements” within the meaning of Sections 27A of the Securities Act of 1933 and 21E of the Securities Exchange Act of 1934, including the statements about our plans, objectives, expectations and prospects under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” You can expect to identify these statements by forward-looking words such as “may,” “might,” “could,” “would,” “will,” “anticipate,” “believe,” “plan,” “estimate,” “project,” “expect,” “intend,” “seek” and other similar expressions. Any statement contained in this report that is not a statement of historical fact may be deemed to be a forward-looking statement. Although we believe that the plans, objectives, expectations and prospects reflected in or suggested by our forward-looking statements are reasonable, those statements involve risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements, and we can give no assurance that our plans, objectives, expectations and prospects will be achieved.
Important factors that might cause our actual results to differ materially from the results contemplated by the forward-looking statements are contained in the “Risk Factors” section of and elsewhere in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and in our subsequent filings with the Securities and Exchange Commission. The following discussion of our results of operations should be read together with our financial statements and related notes included elsewhere in this report.
Company Overview
On January 4, 2001, ADM Endeavors, Inc. (“ADM Endeavors,” “ADM,” “we,” “us,” “our” or the “Company”) was incorporated in North Dakota as “ADM Enterprises, Inc.” On May 9, 2006, the Company changed its name to “ADM Endeavors, Inc.” and its domicile to the State of Nevada. On July 1, 2008, the Company acquired all of the assets of ADM Enterprises, LLC (“ADM Enterprises”) in exchange for 10,000,000 newly issued shares of Company common stock. As a result, ADM Enterprises became a wholly owned subsidiary of the Company. ADM then provided installation services to grocery décor and design companies primarily in North Dakota.
On April 19, 2018, the Company acquired Just Right Products, Inc. (“Just Right Products”), a Texas corporation, from its sole shareholder, Marc Johnson, through a share exchange transaction whereby the Company acquired 100% of Just Right Products and issued 2,000,000 shares of Series A Convertible Preferred stock (“Series A Preferred Stock”) to the shareholder of Just Rights Products. Each share of the Series A Preferred Stock is convertible into 10 shares of Company common stock and each share has 100 votes on a fully diluted basis. The preferred shares represented 61% of the Company’s voting shares and constituted a change of voting control of the Company, with the transaction accounted for as a reverse acquisition. As a result of the transaction, Just Right Products became a wholly owned subsidiary of the Company.
Since that time, the Company has exclusively focused on its Just Right Productions operations, which includes a diverse vertical integrated business consisting of a retail sales division, screen print promotions, embroidery production, digital production, import wholesale sourcing, and uniforms.
On April 27, 2023, the Company entered into an Asset Purchase Agreement with Innovative Impressions, Inc., a Texas corporation (the “Seller” or “Innovative Impressions”), pursuant to which the Company acquired embroidery equipment, inventory, and related assets from the Seller, which was paid by the issuance by the Company of a $200,000 secured promissory note (with a fair value of $143,637) to the Seller’s principal.
For the Three Months Ended September 30, 2026 and 2025
Revenues
Our revenue was $2,251,326 for the three months ended September 30, 2026, compared to $2,205,225 for the three months ended September 30, 2025, resulting in an increase of $46,101, or 2.1%, between the periods. The increase in revenue was primarily attributable to growth in promotional product sales, supported by new customers, repeat business and expanded operational capacity at the Company’s new facility.
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Operating Expenses
Direct costs of revenues were $1,444,464 and $1,616,201 for the three months ended September 30, 2026, and 2025, respectively, resulting in a decrease of $171,737, or 10.6%, between the periods. The decrease in direct costs was primarily attributable to sourcing lower-cost vendors, obtaining favorable pricing discounts and improving purchasing efficiencies. These initiatives contributed to improved gross profit margins while maintaining product quality.
General and administrative expenses were $496,997 for the three months ended September 30, 2026, compared to $371,344 for the same period in 2025, resulting in an increase of $125,653, or 33.8%, between the periods. The increase was primarily attributable to the Company’s relocation and consolidation of operations into its new facility, including overlapping expenses associated with the former and new locations during the transition period.
Marketing and selling expenses were $6,857 for the three months ended September 30, 2026, compared to $12,114 for the same period in 2025. The decrease was primarily attributable to the timing of marketing expenditures and a more targeted promotional strategy. The Company continued to benefit from established customer relationships and repeat business.
Other expense was $105,920 for the three months ended September 30, 2026, compared to other income of $10,410 for the same period in 2025. This change was primarily due to the loss on change in fair value of derivative liabilities and an increase in interest expense related to new convertible note and amortization of derivate discount.
Net income was $197,088 for the three months ended September 30, 2026, compared to $215,976 for the three months ended September 30, 2025, for the reasons stated above.
For the Nine Months Ended September 30, 2026 and 2025
Revenues
Our revenue was $4,583,870 for the nine months ended September 30, 2026, compared to $4,305,588 for the nine months ended September 30, 2025, resulting in an increase of $278,282, or 6.5%, between the periods. The increase was due to primarily driven by promotional product sales, new customer relationships and continued repeat business.
Operating Expenses
Direct costs of revenues were $3,089,947 and $3,139,999 for the nine months ended September 30, 2026, and 2025, respectively, resulting in a decrease of $50,052, or 1.6%, between the periods. The decrease in direct costs of revenue reflecting improved vendor sourcing, special pricing arrangements and purchasing efficiencies.
General and administrative expenses were $1,279,104 for the nine months ended September 30, 2026, compared to $1,142,253 for the same period in 2025, resulting in an increase of $136,851, or 12.0%, between the periods. General and administrative expenses increased primarily due to the relocation and consolidation of operations into the new facility and overlapping expenses during the transition.
Marketing and selling expenses were $30,233 for the nine months ended September 30, 2026, compared to $29,253 for the same period in 2025. Marketing and selling expenses increased modestly by 3.4%, reflecting targeted marketing expenditures to maintain customer relationships and support future growth.
Other expense was $57,511 for the nine months ended September 30, 2026, compared to other income of $256,238 for the same period in 2025. The change was primarily due to $264,514 in net proceeds from an insurance claim in 2025 and an increase in interest expense related to new convertible note and amortization of derivate discount in the current year.
Net income was $127,075 for the nine months ended September 30, 2026, compared to net income of $250,321 for the nine months ended September 30, 2025, for the reasons stated above.
Liquidity and Capital Resources
Liquidity and Capital Resources during the nine months ended September 30, 2026, compared to the nine months ended September 30, 2025
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We had cash provided by operations of $31,193 for the nine months ended September 30, 2026, compared to $5,730 for the nine months ended September 30, 2025. The change in cash flow from operating activities for the nine months ended September 30, 2026, was primarily attributable to the net income for the period, the change in derivative liability, gain on insurance claim, amortization of debt discount and changes to operating assets and liabilities.
We had cash used in investing activities of $685,090 for the nine months ended September 30, 2026, and $2,444,946 for the nine months ended September 30, 2025. The change in cash flow from investing activities for the nine months ended September 30, 2026, was mainly attributable to a decrease in the purchase of property and equipment and the decrease in proceeds from insurance.
We had cash provided by financing activities of $550,501 for the nine months ended September 30, 2026, compared to cash provided by financing activities of $2,409,858 for the same period in 2025. Cash provided by financing activities consisted of proceeds from line of credit – related party and proceeds from a convertible note payable offset by repayments on notes payable and repayments of line of credit – related party.
We will likely have to raise funds to pay for growth and acquisitions. We may have to borrow money from shareholders or issue debt or equity or enter into a strategic arrangement with a third party. There can be no assurance that additional capital will be available to us. We currently have no arrangements or understandings with any person to obtain funds through bank loans, lines of credit or any other sources.
Critical Accounting Policies
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make a number of estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Such estimates and assumptions affect the reported amounts of revenues and expenses during the reporting period. We base our estimates on historical experiences and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions and conditions. We continue to monitor significant estimates made during the preparation of our financial statements. On an ongoing basis, we evaluate estimates and assumptions based upon historical experience and various other factors and circumstances. We believe our estimates and assumptions are reasonable in the circumstances; however, actual results may differ from these estimates under different future conditions.
See Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Note 1, “Summary of Significant Accounting Policies” in our audited financial statements for the year ended December 31, 2025, included in our Annual Report on Form 10-K as filed on March 31, 2026, for a discussion of our critical accounting policies and estimates.
ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
A smaller reporting company, as defined by Item 10 of Regulation S-K, is not required to provide the information required by this item.
ITEM 4. CONTROLS AND PROCEDURES
Disclosure Controls and Procedures
The Company does not currently maintain controls and procedures that are designed to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act are recorded, processed, summarized, and reported within the time periods specified by the Commission’s rules and forms.
Disclosure controls and procedures would include, without limitation, controls and procedures designed to provide reasonable assurance that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is accumulated and communicated to management, including the Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.
Under the supervision and with the participation of management, including the Company’s Chief Executive Officer, the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) as of September 30, 2026, have been evaluated, and based upon this evaluation, the Company’s Chief Executive Officer has concluded that these controls and procedures are not effective in providing reasonable assurance of compliance.
Changes in Internal Control over Financial Reporting
Management will continue to monitor and evaluate the effectiveness of the Company’s internal controls and procedures and the Company’s internal controls over financial reporting on an ongoing basis and are committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow. There were no changes in Internal Control Over Financial Reporting during the quarter ended September 30, 2026.
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PART II - OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS.
There are no pending legal proceedings in which we are a party or in which any of our directors, officers or affiliates, any owner of record or beneficiary of more than 5% of any class of our voting securities is a party adverse to us or has a material interest adverse to us. Our property is not the subject of any pending legal proceedings.
ITEM 1A. RISK FACTORS.
We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
None.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES.
None.
ITEM 4. MINE SAFETY DISCLOSURES.
Not Applicable.
ITEM 5. OTHER INFORMATION.
None.
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ITEM 6. EXHIBITS
| Exhibit Number | Description | |
| 3.1 | Articles of Incorporation (incorporated by reference to our Registration Statement on Form S-1, filed on October 8, 2013) | |
| 3.2 | Bylaws (incorporated by reference to our Registration Statement on Form S-1, filed on October 8, 2013) | |
| 10.1 | Texas Commercial Lease between M&M Real Estate Inc. and Just Right Products Inc., dated January 1, 2018 (incorporated by reference to our Annual Report on Form 10-K, filed on March 15, 2022) | |
| 10.2 | Construction Loan Agreement, dated as of October 25, 2022, by and among ADM Endeavors, Inc., Just Right Products, Inc., and CapTex Bank (incorporated by reference to our Current Report on Form 8-K, filed on November 1, 2022) | |
| 10.3 | Promissory Note, dated as of October 25, 2022, by ADM Endeavors, Inc., and Just Right Products, Inc., in favor of CapTex Bank (incorporated by reference to our Current Report on Form 8-K, filed on November 1, 2022) | |
| 10.4 | Asset Purchase Agreement, dated April 27, 2023, by Just Right Products, Inc., and Innovative Impressions, Inc. (incorporated by reference to our Current Report on Form 8-K, filed on April 28, 2023) | |
| 10.5 | Promissory Note, dated April 27, 2023, by Just Right Products, Inc., in favor of Robert Breese (incorporated by reference to our Current Report on Form 8-K, filed on April 28, 2023) | |
| 10.6 | Pledge and Security Agreement, dated April 27, 2023, by Just Right Products, Inc., and Robert Breese (incorporated by reference to our Current Report on Form 8-K, filed on April 28, 2023) | |
| 10.7 | Independent Consulting Agreement, dated April 27, 2023, by Just Right Products, Inc., and Robert Breese (incorporated by reference to our Current Report on Form 8-K, filed on April 28, 2023) | |
| 10.8 | Equity Financing Agreement, dated December 19, 2025, by and between ADM Endeavors, Inc. and GHS Investments LLC (incorporated by reference to our Current Report on Form 8-K, filed on December 23, 2025) | |
| 10.9 | Registration Rights Agreement, dated December 19, 2025, by and between ADM Endeavors, Inc. and GHS Investments LLC (incorporated by reference to our Current Report on Form 8-K, filed on December 23, 2025) | |
| 10.10 | Employment Agreement, dated June 15, 2026, by and between FW Promo and Calvin Tsang (incorporated by reference to our Quarterly Report on Form 10-Q, filed on August 14, 2026) | |
| 31.1 | Certification of Principal Executive Officer of ADM Endeavors, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
| 31.2 | Certification of Principal Accounting Officer of ADM Endeavors, Inc. required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
| 32.1 | Certification of Principal Executive Officer of ADM Endeavors, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 Of 18 U.S.C. 63 | |
| 32.2 | Certification of Principal Accounting Officer of ADM Endeavors, Inc. pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 Of 18 U.S.C. 63 | |
| 101.INS (2) | Inline XBRL Taxonomy Extension Instance Document | |
| 101.SCH (2) | Inline XBRL Taxonomy Extension Schema Document | |
| 101.CAL (2) | Inline XBRL Taxonomy Extension Calculation Linkbase Document | |
| 101.DEF (2) | Inline XBRL Taxonomy Extension Definition Linkbase Document | |
| 101.LAB (2) | Inline XBRL Taxonomy Extension Label Linkbase Document | |
| 101.PRE (2) | Inline XBRL Taxonomy Extension Presentation Linkbase Document | |
| 104 (2) | Cover Page Interactive Data file |
(1) Filed herewith.
(2) XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.
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SIGNATURES
In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| ADM ENDEAVORS, INC. | ||
| Dated: November 13, 2026 | /s/ Marc Johnson | |
| By: | Marc Johnson | |
| Its: | Chief Executive Officer | |
| Dated: November 13, 2026 | /s/ Calvin Tsang | |
| By: | Calvin Tsang | |
| Its: | Chief Financial Officer | |
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