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BestGofer (BGFR) writes off all LHIS goodwill in non-cash charge

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(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

BestGofer, Inc. determined that its goodwill for wholly owned subsidiary Liberty Home Inspection Services LLC is impaired as of February 28, 2026. The company will record a non-cash impairment charge of $78,754, eliminating all goodwill for this reporting unit on its balance sheet.

The impairment follows an ASC 350-20 analysis considering weak operating performance, limited historical and forecasted revenue, sensitivity of discounted-cash-flow assumptions, and key-person concentration risk. The charge will be recorded in the quarter ended February 28, 2026 and does not affect previously issued 2025 financial statements.

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Insights

BestGofer writes off all LHIS goodwill via a non-cash charge.

BestGofer, Inc. will record a $78,754 non-cash goodwill impairment for its Liberty Home Inspection Services LLC unit as of the quarter ended February 28, 2026. This fully eliminates goodwill created from the August 31, 2025 acquisition.

The decision followed an ASC 350-20 test citing weak operating performance, limited historical and forecast revenue, discounted-cash-flow sensitivity, and key-person concentration risk. Management concluded the LHIS reporting unit’s fair value does not exceed its carrying amount at the measurement date.

The impairment reduces reported assets and will lower earnings for that quarter but does not require future cash outflows. The company notes that financial statements for the year ended November 30, 2025 remain unaffected because the impairment relates to a subsequent measurement date.

Item 2.06 Material Impairments Financial
The company concluded that a material charge for impairment of assets (goodwill, intangibles, etc.) is required.
Goodwill impairment charge $78,754 Non-cash impairment for LHIS as of February 28, 2026
Goodwill balance after impairment $0 LHIS reporting unit goodwill on balance sheet as of February 28, 2026
Acquisition date of LHIS August 31, 2025 Goodwill originally recorded in connection with LHIS acquisition
Measurement date for impairment February 28, 2026 End of BestGofer’s first fiscal quarter of 2026
Unaffected annual period Fiscal year ended November 30, 2025 Previously issued financial statements not impacted by impairment
material non-cash charge financial
"management of BestGofer, Inc. concluded that a material non-cash charge for the impairment of goodwill"
impairment of goodwill financial
"material non-cash charge for the impairment of goodwill associated with the Company’s wholly-owned subsidiary"
An impairment of goodwill happens when the extra value a company recorded for purchases like brands, customer lists or reputation turns out to be worth less than originally thought, so accountants reduce that value on the books. It matters to investors because it signals that past acquisitions are not delivering expected benefits, like discovering a purchased car is less reliable than advertised, and can lower reported earnings and the company's perceived future cash-generating power.
ASC 350-20 regulatory
"The impairment determination was made under ASC 350-20, Intangibles — Goodwill and Other"
discounted-cash-flow estimate financial
"sensitivity of the discounted-cash-flow estimate to reasonable changes in assumptions"
key-person concentration risk financial
"including the LHIS reporting unit’s operating performance, limited historical and forecasted revenue, ... key-person concentration risk"
0001722556 false 0001722556 2026-05-05 2026-05-05

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 5, 2026

 

BESTGOFER, INC.

(Exact Name of Registrant as Specified in Charter)

 

Nevada

000-56485

82-5296245

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification Number)

 

10 Nisan Beck St.

Jerusalem, Israel 91034

(Address of Principal Executive Offices, Zip Code)

 

Registrant’s telephone number, including area code: (972) 03-9117987

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

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.  

 

 

 



Item 2.06Material Impairments. 

 

On May 5, 2026, the management of BestGofer, Inc. (the “Company”) concluded that a material non-cash charge for the impairment of goodwill associated with the Company’s wholly-owned subsidiary, Liberty Home Inspection Services LLC (“LHIS”), is required as of February 28, 2026, the end of the Company’s first fiscal quarter of 2026.

 

The estimated amount of the impairment charge is $78,754, representing the full carrying amount of goodwill assigned to the LHIS reporting unit, which goodwill was originally recorded in connection with the Company’s August 31, 2025 acquisition of LHIS. The impairment charge will be recognized in the Company’s Statements of Operations for the three months ended February 28, 2026 and will reduce the carrying amount of goodwill on the Company’s Balance Sheet to $0 as of February 28, 2026.

 

The impairment determination was made under ASC 350-20, Intangibles — Goodwill and Other, following management’s evaluation of indicators of impairment, including the LHIS reporting unit’s operating performance, limited historical and forecasted revenue, sensitivity of the discounted-cash-flow estimate to reasonable changes in assumptions, key-person concentration risk. After consideration of management’s qualitative analysis and a quantitative discounted-cash-flow estimate, management concluded it could not support a determination that the fair value of the LHIS reporting unit exceeds its carrying amount as of the measurement date.

 

The impairment charge is non-cash. It is not expected to result in any future cash expenditures by the Company. The Company expects to disclose additional information regarding the impairment charge in its Quarterly Report on Form 10-Q for the three months ended February 28, 2026.

 

This Current Report on Form 8-K does not amend or restate any previously issued financial statements of the Company. The Company’s previously issued financial statements for the fiscal year ended November 30, 2025, included in the Company’s Annual Report on Form 10-K filed on March 13, 2026, are not affected by this impairment, which relates to a measurement date subsequent to the Company’s most recent annual reporting date.

 

 

 

 

 

 

 

 

 

 

 

 

 



SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

BestGofer, Inc.

 

 

 

 

 

Date:

May 5, 2026

 

By:

/s/ Mohammad Hasan Hamed

 

 

 

Name:

Mohammad Hasan Hamed

 

 

 

Title:

President, Chief Executive Officer, Chief Financial Officer and Principal Accounting Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FAQ

What impairment did BestGofer (BGFR) announce for Liberty Home Inspection Services?

BestGofer will record a non-cash goodwill impairment of $78,754 for Liberty Home Inspection Services LLC. This charge represents the full goodwill balance for that reporting unit and will be recognized in the quarter ended February 28, 2026, eliminating LHIS goodwill from the balance sheet.

Is the BestGofer (BGFR) goodwill impairment a cash expense?

No, the BestGofer goodwill impairment is a non-cash accounting charge. The company states the $78,754 write-down will not result in future cash expenditures, although it will reduce reported net income for the quarter ended February 28, 2026 by the same amount.

Which accounting guidance did BestGofer (BGFR) use for the LHIS goodwill impairment?

BestGofer applied ASC 350-20, Intangibles — Goodwill and Other, to test LHIS goodwill. Management evaluated indicators including operating performance, limited historical and forecast revenue, discounted-cash-flow sensitivity, and key-person concentration risk before concluding the unit’s fair value no longer exceeded its carrying amount.

Does the LHIS goodwill impairment affect BestGofer’s 2025 financial statements?

The company states the impairment does not affect previously issued financial statements for the year ended November 30, 2025. The write-down relates to a measurement date of February 28, 2026, which falls after the most recent annual reporting date disclosed in the filing.

When was Liberty Home Inspection Services acquired by BestGofer (BGFR)?

Liberty Home Inspection Services LLC was acquired on August 31, 2025, creating the goodwill now being impaired. The entire $78,754 goodwill amount recorded from that acquisition will be written down to zero as of February 28, 2026 under the company’s impairment analysis.

Filing Exhibits & Attachments

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