UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 1-SA/A
(Amendment No. 1)
SEMIANNUAL REPORT
SEMIANNUAL REPORT PURSUANT
TO REGULATION A OF THE SECURITIES ACT OF 1933
For the Semiannual Period
Ended June 30, 2026
ALMCO PLUMBING INC.
(Exact name of registrant
as specified in its charter)
Commission File Number: 024-12195
| |
|
|
| California |
|
36-4915179 |
(State or other jurisdiction of
incorporation or organization) |
|
(I.R.S. Employer
Identification No.) |
| |
|
|
|
4838 Ronson Ct, Unit D
San Diego, CA 92111
(Address of principal executive offices)
|
|
858-209-7214
Registrant’s telephone number, including area code |
Website:
https://almcoplumbing.com
EXPLANATORY NOTE
Almco Plumbing Inc. (the "Company") is
filing this Amendment No. 1 on Form 1-SA/A (this "Amendment") to its Semiannual Report on Form 1-SA for the six months ended
June 30, 2026, originally filed with the Securities and Exchange Commission on September 15, 2026 (the "Original Filing"), solely
to correct a technical formatting error that rendered the Independent Accountant's Review Report on the Company's interim financial statements
illegible in the Original Filing as displayed on EDGAR.
The Review Report included in this Amendment is the
same report issued by the Company's independent registered public accounting firm and is unchanged in substance from the report intended
to be included in the Original Filing. No other changes have been made to the Original Filing, and the interim financial statements, notes
thereto, and all other disclosures are identical to those in the Original Filing.
For the convenience of the reader, this Amendment
sets forth the Original Filing in its entirety, as amended. This Amendment does not reflect events occurring after the filing of the Original
Filing and does not modify or update any disclosures except as described above.
Item 1. Management’s
Discussion and Analysis of Financial Condition and Results of Operations
You should read the following discussion in conjunction with our consolidated
financial statements and the related notes. This discussion may contain forward-looking statements that involve risks and uncertainties.
Actual results and the timing of events may differ materially from those contained in these forward-looking statements due to a number
of factors.
Revenue
Revenue for the six months ended June 30, 2026 and
2025 was $2,663,110 and $1,521,076, respectively, an increase of $1,142,034, or approximately 75%. Our revenue increased because we
continued to optimize our daily routing (faster call intake and dispatch to our field plumbers), expanded our service territory,
including the greater Los Angeles area through our new subsidiary, added field technicians and service vehicles to handle a higher
volume of calls, and benefited from our advertising and referral programs. We also received more orders from commercial customers,
such as restaurants, stores and hotels, which generally generate higher billings due to the nature of the services required.
Gross Profit
Gross profit for the six months ended June 30, 2026
and 2025 was $1,203,422 and $740,265, respectively, an increase of $463,157, or approximately 63%. Total cost of sales increased to $1,459,689
from $780,811, driven by field technician salaries and related payroll taxes of $760,478 compared to $454,665, vehicle expenses of $94,530
compared to $35,890, and other cost of sales (materials, parts and subcontracted work) of $604,681 compared to $290,256, as we added field
personnel and vehicles to service the higher volume of work. Our gross margin was approximately 45% for the six months ended June 30,
2026 compared to approximately 49% for the same period in 2025, reflecting the cost of onboarding new technicians and the larger share
of material-intensive commercial jobs.
General and Administrative Expense
General and administrative expense for the six months
ended June 30, 2026 and 2025 was $923,963 and $429,190, respectively. Office salaries and wages and related payroll taxes increased to
$321,045 from $161,429 as we added office and dispatch personnel, and other general and administrative expenses increased to $602,917
from $267,761. We opened a new office facility and increased our inventory of parts and material supplies, and our office rent, auto,
insurance, legal and professional services, software, SaaS and hosting expenses were all higher. Sales and marketing expenses decreased
to $152,390 from $182,969, and bad debt expense decreased to $19,346 from $64,379 as collections improved. Total operational expenses
were $1,095,699 compared to $676,538.
Net Income
We generated net income of $69,835 during the six months
ended June 30, 2026 compared to $53,494 during the six months ended June 30, 2025. Net operating income increased to $107,723 from $63,728
as the growth in gross profit more than offset the increase in operational expenses. Other income was $26,144 (none in 2025) and other
expenses, consisting primarily of interest and financing costs on our vehicle loans and credit facilities, were $64,032 compared to $10,234,
resulting in net other expenses of $37,888 compared to $10,234.
Liquidity and Capital Resources
The consolidated financial statements included in this Offering Circular
have been prepared assuming that the Company will continue as a going concern. 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 classifications
of liabilities that may result should the Company be unable to continue as a going concern.
Liquidity is difference between current assets and current
liabilities – it reflects our ability to meet current obligations as they become due.
Our Total Current Assets as of June 30, 2026 were $540,583,
compared to $456,044 as of December 31, 2025, consisting of cash and cash equivalents (including undeposited funds) of $341,792, accounts
receivable, net of allowance for doubtful accounts, of $180,754 and other current assets of $18,038.
Our Total Current Liabilities as of June 30, 2026 were
$412,254, compared to $195,722 as of December 31, 2025, consisting of accounts payable of $20,787, credit cards of $65,890, our right-of-use
lease liability of $244,016 and other current liabilities of $81,562.
Based on the above, our working capital was $128,329
as of June 30, 2026 and we are a company with liquidity in the positive range. During the six months ended June 30, 2026, our operating
activities provided net cash of $394,771, we used $218,688 in investing activities, consisting of $86,720 for the purchase of service
vehicles and equipment, $125,565 for the recognition of a new right-of-use lease asset and $6,403 of other assets, and we used $18,760
in financing activities, consisting of $24,226 of vehicle loan repayments offset by a $5,466 adjustment recorded directly to retained
earnings (see Note 8). Our cash and cash equivalents, including undeposited funds, increased from $184,469 at December 31, 2025 to $341,792
at June 30, 2026.
Capital resources is our ability to grow the business
with the financial and other resources that we have on hand. During the most recent six months covered by this report, our office and
service personnel, infrastructure, service fleet, parts and supplies on hand and other resources are adequate to service our current volume
of work. In the event our volume of work continues to increase, as it has over during the most recent six months covered by this report,
we would expect to increase our service personnel, service fleet, parts and supplies on hand as necessary to adequately service new customers.
Since our inception, the Company has financed its operations internally.
The Company is dependent upon raising additional capital or seeking additional equity financing to fund for develop a new operating plan.
Failure to obtain sufficient equity financing could adversely affect our ability to achieve its business objectives and develop by scaling
the business. Further, you have no assurance as to the availability or terms upon which the required financing and capital might be available.
Item 2. Other Information
During the six months ended June 30, 2026, there were no events
required to be reported on Form 1-U that were not so reported.
Item 3. Financial Statements
ALMCO PLUMBING INC.
Condensed Financial Statements
for the six months ended June 30, 2026 and 2025
Unaudited Financial Statements | |
| | |
| Interim review report of Independent Registered Public Accountant firm | |
| 5 | |
| Condensed Balance Sheets | |
| 6 | |
| Condensed Statements of Operations | |
| 7 | |
| Condensed Statements of Stockholders’ Equity | |
| 8 | |
| Condensed Statements of Cash Flows | |
| 9 | |
| Notes to Condensed Financial Statements | |
| 10-15 | |
M N VIJAYKUMAR
Chartered Accountant
Report of Independent Registered Public Accounting
Firm
To the shareholders and the board of directors
of Almco Plumbing Inc
Results of Review of Interim Financial Statements
We have reviewed the accompanying Interim balance
sheet of Almco Plumbing Inc. (“the Company”) as of June 30, 2026, and the related statements of operations, comprehensive
income and stockholders’ equity and cash flows for the six-month periods ended June 30, 2026, and the related notes (collectively
referred to as the ‘Interim financial statements). Based on our review, we are not aware of any material modifications that should
be made to the accompanying interim financial statements for them to be in conformity with accounting principles generally accepted in
the United States of America.
We have previously audited, in accordance with
the standards of the Public Company Accounting Oversight Board (United States) (“PCAOB”), the balance sheet of the Company
as of December 31, 2025, and the related statements of operations, comprehensive income, retained earnings and cash flows, for the year
then ended (not presented herein); and in our report dated April 30, 2026 we expressed an unqualified opinion on those financial statements.
In our opinion, the information set forth in the accompanying balance sheet as of December 31, 2025 is fairly stated, in all material
respects, in relation to the balance sheet from which it has been derived.
Basis for Review Results
These interim financial statements are the responsibility
of the Company’s management. We conducted our review in accordance with the standards of the Public Company Accounting Oversight
Board (United States) (“PCAOB”). A review of interim financial information consists principally of applying analytical procedures
and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted
in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements
taken as a whole. Accordingly, we do not express such an opinion. We are a public accounting firm registered with the Public Company Accounting
Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to Almco Plumbing Inc. in accordance
with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
/s/ M N Vijay Kumar
M N Vijay Kumar
PCAOB firm ID: 6945
Bangalore, India.
Date: 10 September 2026
No.37, 1st Main, Vinayaka Layout, 3rd Stage,
Vijayanagar, Bengaluru 560040
Mobile: 9980949630, Email: audit@mnvijaykumar.com
|
ALMCO PLUMBING INC. |
| BALANCE SHEET |
| JUNE 30, 2026 AND DECEMBER 31,2025 |
| |
|
|
June 30,
2026
(Unaudited) |
|
|
|
December 31
2025
(Audited) |
|
| ASSETS |
|
|
|
|
|
|
|
|
| Current Assets: |
|
|
|
|
|
|
|
|
|
| Cash & Cash equivalents |
|
$ |
341,792 |
|
|
$ |
181,219 |
|
|
| Accounts Receivable, net |
|
$ |
180,754 |
|
|
$ |
269,575 |
|
|
| Other Current Assets |
|
$ |
18,038 |
|
|
$ |
5,250 |
|
|
| Total Current Assets |
|
$ |
540,583 |
|
|
$ |
456,044 |
|
|
| Fixed Assets |
|
|
|
|
|
|
|
|
|
| Intangible Fixed Assets |
|
$ |
17,214 |
|
|
$ |
17,214 |
|
|
| Right-of-use Assets |
|
$ |
243,047 |
|
|
$ |
117,482 |
|
|
| Tangible Fixed Assets |
|
$ |
1,188,349 |
|
|
$ |
1,101,629 |
|
|
| Accumulated Depreciation |
|
$ |
(747,444) |
|
|
$ |
(643,740) |
|
|
| Total Fixed Assets |
|
$ |
701,167 |
|
|
$ |
592,585 |
|
|
| TOTAL ASSETS |
|
$ |
1,241,750 |
|
|
$ |
1,048,629 |
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Current Liabilities: |
|
|
|
|
|
|
|
|
|
| Accounts Payable |
|
$ |
20,787 |
|
|
$ |
14,787 |
|
|
| Credit Cards |
|
$ |
65,890 |
|
|
$ |
49,070 |
|
|
| Right-of-use lease liability |
|
$ |
244,016 |
|
|
$ |
61,872 |
|
|
| Other Current Liabilities |
|
$ |
81,562 |
|
|
$ |
69,993 |
|
|
| Total Current Liabilities |
|
$ |
412,254 |
|
|
$ |
195,722 |
|
|
| Long-Term Liabilities |
|
$ |
|
|
|
$ |
|
|
|
| Right-of-use Liability, less current portion |
|
$ |
- |
|
|
$ |
74,486 |
|
|
| Loans for vehicles |
|
$ |
120,657 |
|
|
$ |
144,883 |
|
|
| Total Long-Term Liabilities |
|
$ |
120,657 |
|
|
$ |
219,369 |
|
|
| Total Liabilities |
|
$ |
532,910 |
|
|
$ |
415,091 |
|
|
| STOCKHOLDERS' EQUITY |
|
$ |
708,839 |
|
|
$ |
633,538 |
|
|
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY |
|
$ |
1,241,750 |
|
|
$ |
1,048,629 |
|
|
| ALMCO PLUMBING INC. |
| STATEMENTS OF OPERATIONS (UNAUDITED) |
| FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND JUNE 30, 2025 |
| |
|
|
For the six months ended June 30, 2026 |
|
|
|
For the six months ended June 30, 2025 |
|
| |
|
|
|
|
|
|
|
|
| Revenues |
|
|
|
|
|
|
|
|
| Gross Revenues |
|
$ |
2,663,110 |
|
|
$ |
1,521,076 |
|
| Cost of Sales |
|
|
|
|
|
|
|
|
| Field tech Salaries |
|
$ |
687,678 |
|
|
$ |
411,609 |
|
| Field tech salary taxes |
|
$ |
72,800 |
|
|
$ |
43,056 |
|
| Vehicle expenses |
|
$ |
94,530 |
|
|
$ |
35,890 |
|
| Other Cost of Sales |
|
$ |
604,681 |
|
|
$ |
290,256 |
|
| Total Cost of Sales |
|
$ |
1,459,689 |
|
|
$ |
780,811 |
|
| Gross Profit |
|
$ |
1,203,422 |
|
|
$ |
740,265 |
|
| Operational Expenses |
|
|
|
|
|
|
|
|
| General Administrative Expenses |
|
|
|
|
|
|
|
|
| Salaries and Wages |
|
$ |
294,496 |
|
|
$ |
147,896 |
|
| Salary Taxes |
|
$ |
26,549 |
|
|
$ |
13,533 |
|
| Other General Administrative expenses |
|
$ |
602,917 |
|
|
$ |
267,761 |
|
| Total General Administrative Expenses |
|
$ |
923,963 |
|
|
$ |
429,190 |
|
| Sales and Marketing Expenses |
|
$ |
152,390 |
|
|
$ |
182,969 |
|
| Bad Debts Expenses |
|
$ |
19,346 |
|
|
$ |
64,379 |
|
| Total Operational Expenses |
|
$ |
1,095,699 |
|
|
$ |
676,538 |
|
| Net Operating Income |
|
$ |
107,723 |
|
|
$ |
63,728 |
|
| Other Income & Expenses |
|
|
|
|
|
|
|
|
| Other Income |
|
$ |
26,144 |
|
|
|
- |
|
| Other Expenses |
|
$ |
64,032 |
|
|
$ |
10,234 |
|
| Net Other Income (Expenses) |
|
$ |
(37,888) |
|
|
$ |
(10,234) |
|
| Net Income (loss) |
|
$ |
69,835 |
|
|
$ |
53,494 |
|
| ALMCO PLUMBING INC. |
| STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) |
| FOR THE SIX MONTHS ENDED JUNE 30, 2026 |
| | |
| |
| |
Additional | |
| |
Total |
| | |
Common Stock | |
Paid-in | |
Accumulated | |
Stockholders' |
| | |
Shares | |
Per Value | |
Capital | |
Gain/Deficit | |
Equity |
| Balance, December 31, 2025 | |
| 32,000,000 | | |
$ | 32,000 | | |
$ | 219,485 | | |
$ | 382,053 | | |
$ | 633,538 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net profit (loss) | |
| — | | |
| — | | |
| — | | |
| 69,835 | | |
| 69,835 | |
| Adjustment recorded directly to retained earnings (see Note 8) | |
| — | | |
| — | | |
| — | | |
| 5,466 | | |
| 5,466 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance, June 30, 2026 | |
| 32,000,000 | | |
$ | 32,000 | | |
$ | 219,485 | | |
$ | 457,354 | | |
$ | 708,839 | |
| ALMCO PLUMBING INC. |
| STATEMENTS OF STOCKHOLDERS' EQUITY (UNAUDITED) |
| FOR THE SIX MONTHS ENDED JUNE 30, 2025 |
| | |
| |
| |
Additional | |
| |
| |
Total |
| | |
Common Stock | |
Paid-in | |
Investments | |
Accumulated | |
Stockholders' |
| | |
Shares | |
Per Value | |
Capital | |
| |
Gain/Deficit | |
Equity |
| Balance, December 31, 2024 | |
| 32,000,000 | | |
$ | 220 | | |
$ | 254,485 | | |
$ | 10,286 | | |
$ | 423,884 | | |
$ | 688,875 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Rendered for future project | |
| 1,000,000 | | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Net profit (loss) | |
| — | | |
| — | | |
| — | | |
| — | | |
| 53,494 | | |
| 53,494 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Balance, June 30, 2025 | |
| 33,000,000 | | |
$ | 220 | | |
$ | 254,485 | | |
$ | 10,286 | | |
$ | 477,378 | | |
$ | 742,369 | |
| ALMCO PLUMBING INC. |
| STATEMENT OF CASH FLOWS (UNAUDITED) |
| FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND JUNE 30,2025 |
|
| |
|
|
For the six months
ended |
|
|
|
For the six months
ended |
|
| |
|
|
June 30, 2026 |
|
|
June 30, 2025 |
| |
|
|
|
|
|
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
|
|
| Net Income |
|
$ |
69,835 |
|
|
$ |
53,494 |
|
| Adjustments to reconcile Net Income to Net Cash provided by operations: |
|
$ |
|
|
|
$ |
|
|
| Depreciation |
|
$ |
103,704 |
|
|
$ |
- |
|
| Accounts Receivable |
|
$ |
87,224 |
|
|
$ |
183,852 |
|
| Other Current Assets |
|
$ |
(8,038) |
|
|
$ |
4,500 |
|
| Accounts Payable (A/P) |
|
|
6,000 |
|
|
|
- |
|
| Credit Cards |
|
$ |
16,820 |
|
|
$ |
(219,195) |
|
| Other Current Liabilities |
|
$ |
119,226 |
|
|
$ |
58,494 |
|
| Total Adjustments to reconcile Net Income to Net Cash provided by operations |
|
$ |
324,936 |
|
|
$ |
27,651 |
|
| NET CASH PROVIDED BY OPERATING ACTIVITIES |
|
$ |
394,771 |
|
|
$ |
81,145 |
|
| |
|
|
|
|
|
|
|
|
| CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
| Intangible Fixed Assets |
|
$ |
- |
|
|
$ |
(69,230) |
|
| Tangible Fixed Assets |
|
$ |
(86,720) |
|
|
$ |
(52,211) |
|
| Right-of-use Assets |
|
$ |
(125,565) |
|
|
$ |
- |
|
| Other Assets (allowance and prepaid) |
|
$ |
(6,403) |
|
|
$ |
- |
|
| Net cash provided by investing activities |
|
$ |
(218,688) |
|
|
$ |
(121,441) |
|
| CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
| Loans for vehicles |
|
$ |
(24,226) |
|
|
$ |
(42,435) |
|
| Common Stock |
|
|
- |
|
|
|
53,865 |
|
| Adjustment to retained earnings (see Note 8) |
|
|
5,466 |
|
|
|
- |
|
| Net cash provided by financing activities |
|
$ |
(18,760) |
|
|
$ |
11,430 |
|
| Net cash increase (Decrease) for period |
|
$ |
157,323 |
|
|
$ |
(28,866) |
|
| Cash at beginning of period |
|
$ |
184,469 |
|
|
$ |
266,472 |
|
| Cash at end of period |
|
$ |
341,792 |
|
|
$ |
237,605 |
|
ALMCO PLUMBING, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED JUNE 30, 2026
And THE SIX MONTHS ENDED JUNE 30, 2025
NOTE 1 — Description of Business
ALMCO PLUMBING INC. (the “Company”), a
California corporation formed on March 20, 2018. The Company is engaged in the plumbing business in San Diego area.
Plumbing services is our main
activity service, which represent mostly of revenue, are primarily the installation of systems that convey domestic water throughout a
building, systems that transport sanitary waste out of a building to a sewer connection, and systems that supply natural gas to various
equipment or appliances such as heaters, boilers, ovens and stoves. A domestic water system typically includes separate piping for hot
and cold water, as well as a number of fixtures such as sinks, bathtubs and showers. Plumbing contracting projects begin with project
design and engineering in which the location, configuration and specifications for the plumbing systems to be installed are determined.
Whether the design is provided by the customer, or produced by the Company, the type, size and design of piping, fittings, valves, fixtures
and other equipment is typically entered into our computer systems which handle estimation, materials ordering and job scheduling functions.
Substantially all of the equipment and component parts the Company installs are purchased from third-party wholesale suppliers or directly
from the manufacturers and resold to the customer as part of the contracted installation. Orders and deliveries are coordinated to match
the project schedule. Whenever possible, a significant portion of the plumbing and piping assembly is prefabricated at the Company’s
facilities in order to reduce on-site installation time, increase quality control and reduce material costs and service time.
We have growing operating revenues.
Recorded revenues were generated from customers’ payments. We generate revenue from single family residential, multifamily residential
and commercial customers, respectively. These operating segments offer similar products and services with differing complexities to distinct
customer groups.
The single-family residential
market includes housing projects, small condominium projects, and town house development. The multifamily residential market includes
apartment projects and condominiums. For family and multifamily residential customers, we provide plumbing, maintenance and repair services.
Our commercial segment is focused
on obtaining plumbing and mechanical contracts with higher margins. We provide plumbing, mechanical contracting services, maintenance
and repair to commercial customers. The commercial market includes retail establishments, office buildings, hotels, manufacturing plants
and other industrial complexes.
In the heart of San
Diego, CA, Almco Plumbing is proud to introduce its state-of-the-art hydro jetting services. Whether it’s a stubborn blockage or
regular maintenance to keep your pipes in optimal condition, our hydro jetting solutions cater to all your drainage needs. We believe
in offering the best and the most effective solutions to our clients. Over the years, we have witnessed firsthand the incredible power
and precision of hydro jetting technology. Unlike traditional methods, hydro jetting provides a robust, environmentally friendly, and
efficient way of cleaning and unclogging pipes and drains. Hydro-jetting is a procedure for cleaning the inner walls of pipes from blockages,
growths, minerals, debris, and tree roots. To do this, the plumber uses a targeted high-pressure water jet. The pressure is adjustable
from 4,000 to 60,000 psi. The procedure
is non-invasive, meaning that there is no need to dig to clean the pipes. Hydro-jetting will improve the passage of water through pipes,
help to avoid stagnant water, and protect you from leaks and pipe ruptures.
We
provide Epoxy pipe lining service. Sewer line repair with epoxy lining
can be easy as long as you have a professional plumber with trenchless sewer repair experience in San Diego, CA. For this, you can trust us.
With 6+ years of experience, we can repair water and sewer pipes without digging
up your yard using spray pipe lining, a trenchless sewer repair method. This means the sewer line issues can be repaired
within several days and often without noise and interfering with your water supply. So far,
we can assist you in getting your sewer line system back and working smoothly.
Pipe diagnostics with camera inspection.
We use a HD camera to localize leaks, find blockages and
comprehensively evaluate pipes. Based on the video inspection, we select pipe repair methods and estimate the scope of work.
Industrial plumbing.
We carry out drain
and sewer line repairs, water heater installation and repair, plumbing installation services, and pipe upgrades for business.
Over the past six years, we have built a robust professional team
to develop and grow our plumbing business.
Our Service Philosophy is as follows: Our plumbers treat your
home with respect and consideration. We use our own mats to wipe our feet and wear shoe covers before entering your home. We offer a fair
assessment of your plumbing situation, along with a clear, upfront cost estimate. Our pricing is flat-rate, so you don't need to worry
about costs increasing as the job progresses.
We generate revenue from single
family residential, multifamily residential and commercial customers, respectively. These operating segments offer similar products and
services with differing complexities to distinct customer groups and have different competitors.
The single-family residential
market includes housing projects, small condominium projects, and town house development. The multifamily residential market includes
apartment projects and condominiums. For family and multifamily residential customers, we provide plumbing, maintenance and repair services.
Our commercial segment is focused
on obtaining plumbing and mechanical contracts with higher margins. We provide plumbing, mechanical contracting services, maintenance
and repair to commercial customers. The commercial market includes retail establishments, office buildings, hotels, manufacturing plants
and other industrial complexes. Quiet water leaks, pipe breaks, poor water flow, sewer clogs can all cause closures and significant
losses. To prevent or quickly fix this, you need a commercial plumber from Almco Plumbing. We maintain office and school buildings, businesses,
shopping centers, hospitals, restaurants, multi-story residential buildings. We have years of experience in servicing complex sewage systems
into industrial buildings. We are engaged in: preventive inspection of plumbing in order
to prevent serious breakdowns and closure of the premises; diagnostics and search for causes of problems with plumbing that have
already happened; prompt repair of damaged pipes, leaking toilets, elimination of blockages in pipes and blocks in the
sewer system.
Our
Customers Benefit From
- Top-Quality Services: From simple repairs to advanced trenchless
pipe replacements, we deliver solutions designed to stand the test of time.
- Skilled Professionals: Our licensed and experienced plumbers
handle all types of plumbing jobs with unmatched expertise.
- Advanced Technologies: Utilizing the latest tools and techniques,
we ensure efficient and long-lasting results.
- Transparent Pricing: We provide fair, upfront pricing with no
hidden fees.
We are BBB A+ rating.
Our Dun & Bradstreet
PAYDAX score 80.
Virtually all construction and
renovation in the United States generates demand for plumbing and mechanical contracting services. The around decade consecutive year
of expansion for the construction industry, lower interest rates enhanced the growth of the single-family residential segment, whereas
a strong economy contributed to gradual growth in the commercial segment. This trend has contributed to appear of a large number of service
companies. Generally, these companies are small, owner-operated, independent contractors who serve customers in a local market, and have
limited access to capital for investment in to infrastructure, technology and expansion.
We believe that its customers
generally select plumbing companies with a large, trained workforce that are able to meet their location and scheduling requirements,
while also providing reliable high-quality service at a reasonable price. We obtain a significant portion of its contracts on negotiated
terms through existing customer relationships instead of through competitive bid processes. Because many projects utilize repetitive plans,
materials we are able to prefabricate some stuff necessary to complete the project, which ultimately increases productivity, quality and
profitability by reducing construction time, labor costs and skill requirements.
We estimate that our cost of
materials purchased currently represents approximately 20-25% of our revenue. We purchase copper, steel, PVC and ABS pipe, valves, hangers,
fire protection and sprinkler systems, plumbing fixtures, drains, water heaters, boilers, chillers, air handling units and pumps, and
other materials from a number of manufacturers. We buy these materials from the Home Depot or through wholesalers and other distributors.
We negotiate with our suppliers to receive discounts whenever possible reduce the number of distributors from which it sources materials.
We intend to focus on growth in its existing Start-ups markets through expansion of its national account strategy. We plan to continue
to evaluate additional markets to assess the potential for future start-ups.
Why Almco Plumbing Stands Out: Fast Response Times: Our
team is committed to reaching you as quickly as possible. Reliable Solution & Durable Results: We assess every situation
thoroughly to deliver long-lasting, reliable solutions. Satisfaction Guaranteed: Your peace of mind is our priority—we
won’t rest until your plumbing issue is fully resolved.
Licensing
We hold California Contractor's
License C #1045495. Most states require that at least one of our employees be a licensed master plumber, and many jurisdictions regulate
the number and level of license holders who must be present on a construction site during the installation of plumbing and mechanical
systems.
We are actively advertising
our company on Google platform, Yelp, Instagram, Facebook, YouTube channel.
NOTE 2 — Significant
Accounting Policies and Recent Accounting Pronouncements
Basis of Presentation
The Company follows United States
GAAP (Generally Accepted Accounting Principles) for presentation of financial statements and disclosures. The Balance sheet, Statement
of Operations, Statement stockholders’ Equity, Statement of Cash Flow are reported representing our activities operations for the
six months 2026 and 2025. The Financial Statements and related disclosures as of June 30, 2026 and June 30, 2025 are unaudited. The Company
has adopted December 31 fiscal year end.
Use of Estimates and Assumptions
The preparation of financial
statements in conformity with generally accepted accounting principles requires management to make 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
and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates. These estimates
and assumptions are used in, but not limited to, certain receivables and accounts payable and the provision for uncertain liabilities.
Revenue Recognition
The Company follows ASC 606
2014-09 Revenue from Contracts with Customers. This involves identifying the contract with the customer, identify separate performance
obligations, determine the transaction price, allocate the transaction price to the separate performance obligations, and then recognize
revenue when (or as) performance obligations are satisfied. The Company considered recognizes its revenue on the accrual basis, which
considers revenue to be earned when the services have been performed. We considered gross revenue as a principal. Our revenue includes
payments from the costumers for the plumbing business.
Inventories – Inventories
are measured at the lower of cost and net realizable value. The cost of inventory is based on the weighted average principle for finished
goods and on the standard cost principle for raw materials and work-in-progress for inventories that are manufactured. Cost includes expenditure
incurred in acquiring the inventories, production or conversion costs and other costs incurred in bringing them to their existing location
and condition. In the case of manufactured inventories and work in progress, cost includes an appropriate share of production overheads
based on normal operating capacity. Net realizable value is the estimated selling price in the ordinary course of business, less the estimated
cost of completion and selling expenses.
Cash and Cash Equivalents
- All highly liquid investments with original maturities of nine months or less are classified as cash and cash equivalents. The fair
value of cash and cash equivalents approximates the amounts shown on the financial statements.
Fair Value of Financial Instruments
ASC 825, 'Disclosures about
Fair Value of Financial Instruments, requires disclosure of fair value information about financial instruments. ASC 820, “Fair Value
Measurements" defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and
expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and
pertinent information available to management as of June 30, 2026 and June 30, 2025.
Income Taxes
The Company is subject to income
taxes in the United States. Income tax expense (benefit) is provided for using the asset and liability method of accounting for income
taxes in accordance with ASC Topic 740, 'Income Taxes. Under this method, income tax expense is recognized for the amount of: (i) taxes
payable or refundable for the current year and (ii) deferred tax consequences of temporary differences resulting from matters that have
been recognized in an entity's financial statements or tax returns. Deferred tax assets and liabilities are measured using enacted tax
rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
The effect on deferred tax assets
and liabilities of a change in tax rates is recognized in the results of operations in the period that includes the enactment date. A
valuation allowance is provided to reduce the deferred tax assets reported if based on the weight of the available positive and negative
evidence, it is more likely than not some portion or all of the deferred tax assets wit not be realized.
ASC Topic 740.10.30 clarifies
the accounting for uncertainty in income taxes recognized in an enterprise's financial statements and prescribes a recognition threshold
and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a
tax return. ASC Topic 740.10 provides guidance on recognition and measuring tax positions taken or expected to be taken in a tax return
that directly or indirectly affect amounts reported in financial statements.
Basic and Diluted Loss Per
Share
The Company computes earnings
(loss) per share in accordance with ASC 260-10-45 'Earnings per Share, which requires presentation of both basic and diluted earnings
per share on the face of the statement of operations. Basic earnings (loss) per share is computed by dividing net earnings (loss) available
to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share
gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes al potential
common shares if their effect is anti-dilutive. The Company has no potential dilutive instruments, and therefore, basic and diluted earnings
(loss) per share are equal.
Accounting Standards
Effective for 2019, the Company adopted Accounting
Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“Topic 606”). Topic
606 supersedes the revenue requirements in ASC Topic 605, Revenue Recognition. The Company
has evaluated the impact of this accounting standard on its Consolidated Financial Statements and concluded that the Company’s business
and relations with customers continue to fall within the scope of existing guidance. Servicing fees, labor fees, net income, gains and
losses for the services provided remain within the scope of ASC topic 310—Receivables or ASC topic 860—Transfers and Servicing.
Consequently, there was no transition adjustment required on the accompanying financial statements for adopting Topic 606.
NOTE 3 — Property and
Equipment
Fixed Assets
| |
|
June 30, 2026 |
| Total Fixed Assets |
|
$ |
701,167 |
|
| |
|
December 31, 2025 |
| Total Fixed Assets |
|
$ |
592,585 |
|
NOTE 4 — Concentrations
We have a lot of customers from
whom we received the income and we are able to diversify in order to mitigate the risks.
NOTE 5 — Concentration
of Credit Risk
The Company maintains cash balances
at a Bank of America financial institution. The balance, at any given time, may exceed Federal Deposit Insurance Corporation FDIC insurance
limits of $250,000 per institution. The Company's cash balances at June 30, 2026 were over FDIC insured limits.
NOTE 6 — Debt
Vladyslav Khorenko is our CEO.
From time to time, he loaned the Company funds for the operational costs. In 2026 and 2025 he wasn’t loaned any amount.
NOTE 7— Shareholders
Equity
As of June 30, 2022, the company
authorized to issue 0 of common shares. The Company has no stock-based compensation plans for employees and non-employee members of the
Board of Directors.
November 1st, 2022, the Company
issue resolution about authorized to issue to 75,000,000 of common shares.
At December 31, 2022, the total
number of shares of all classes of stock, which the Company shall have authority to issue is 50,000,000, consisting of 32,000,000 common
shares or 64% issue to our CEO Vladyslav Khorenko, 3,000,000 common stock or 6% to Genova LLC, and 15,000,000 or 30% we going to sell
to the public.
During 6 months period ended
June 30, 2024 the Company sold 212,355 common shares to 50 shareholders for the price $1 per share for total amount of $212,355 and continue
selling process.
As of June 30, 2026, the company authorized and issue 32,000,000 of common
shares. 28,780,295 restricted shares and 3,219,705 non-restricted shares.
The Company has no stock-based
compensation plans for employees and non-employee members of the Board of Directors.
NOTE 8 — Commitments
and Contingencies
The Company has no commitments
or contingencies.
During the six months ended
June 30, 2026, the Company recorded an adjustment of $5,466 directly to retained earnings (accumulated gain) relating to prior periods.
The adjustment is reflected in the Statement of Stockholders’ Equity and had no effect on net income for the period.
NOTE 9 — Contractual
Arrangements
The Company has no long terms
ongoing contractual arrangements with our customers.
NOTE 10 — Subsequent Events
The Company has evaluated subsequent
events through September 14, 2026, the date these financial statements were available to be issued. No events occurred after June 30,
2026 that require recognition or disclosure in these financial statements.
Item 4. Exhibits
| Exhibit No. |
Description
|
| 3.1 |
Articles of Incorporation Previously filed with our
Preliminary Offering Circular filed with the SEC on March 24, 2023 |
| 3.2 |
Bylaws Previously filed with our Preliminary Offering
Circular filed with the SEC on March 24, 2023 |
| 12 |
Legal Opinion, to be filed by amendment Previously
filed with our Preliminary Offering Circular filed with the SEC on March 24, 2023 |
| 15.1 |
Interim
review REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM Included in Item 3 of this report. |
| 23.2 |
Consent of counsel, included in Exhibit 12 Previously
filed with our Preliminary Offering Circular filed with the SEC on March 24, 2023 |
| 4.1 |
Subscription Agreement Previously filed with Preliminary
Offering filed with the SEC on 3/24/2023. |
| 4.2 |
Trade Mark, was previously filed with our semiannual
report filed with the SEC on 08/14/2024 |
SIGNATURES
Pursuant to the requirements of Regulation A, the issuer has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Almco Plumbing, Inc.
| By /s/ Vladyslav Khorenko |
|
|
Vladyslav Khorenko, CEO, CFO
Date: September 16, 2026 |
|
Pursuant to the requirements of Regulation
A, this report has been signed below by the following persons on behalf of the issuer and in the capacities and on the dates indicated.
| Name |
|
Position |
| |
|
|
| By/s/ Vladyslav Khorenko |
|
|
|
Vladyslav Khorenko CEO, CFO
Date: September 16, 2026
|
|
Director, Chief Executive Officer,
Principal Financial Officer and Principal Accounting Officer
|
