Blue Line Holdings, Inc. (BLNH) reported no revenue for the year ended June 30, 2026 and a $81,256 net loss, versus a $106,125 net loss in FY2025. At June 30, 2026, cash was $2,180, the working capital deficit was $83,562, and promissory notes payable were $59,000. Operating activities used $65,636 in cash. Management and its auditor said recurring losses and financing needs raise substantial doubt about BLNH’s ability to continue as a going concern.
BLNH is developing a licensed CocoLove flavored-water business in France but had not begun marketing or distribution. The license is exclusive subject to Monarch Media’s right to sell through its own channels without compensating BLNH. For the 12 months ending September 30, 2027, projected requirements include $100,000 for sales and marketing and $50,000 for new licenses. After year-end, BLNH issued a $15,000 note due February 28, 2027, and the $50,000 noteholders agreed to extend the due date to February 28, 2027. Management said disclosure controls were ineffective and identified weaknesses in duty segregation, management override, and formal financial-close and reporting procedures.
Blue Line Holdings, Inc. entered into a new loan agreement on August 5, 2026 for $15,000 in proceeds, to be used for general working capital. In connection with this financing, the company will issue 35,000 common shares and repay the loan in full by February 28, 2027.
On the same date, the company executed amending loan agreements covering existing loans with total principal of $50,000, extending their due dates from June 30, 2026 to February 28, 2027 and providing for an additional 20,000 common shares. The shares were issued in private placements under Section 4(a)(2) of the Securities Act to sophisticated investors, with restricted legends, no general solicitation, and no commissions or other remuneration paid.
Blue Line Holdings, Inc. changed its independent registered public accounting firm after Simon & Edward LLP acquired the attest business of BCRG Group effective June 15, 2026. On August 3, 2026, the Audit Committee dismissed BCRG and approved Simon & Edward LLP as the new auditor, with services previously provided by BCRG now handled by Simon & Edward.
BCRG’s audit reports on the consolidated financial statements for the fiscal years ended June 30, 2025 and 2024 contained no adverse or disclaimed opinions and were not qualified, but included an explanatory paragraph expressing substantial doubt about Blue Line’s ability to continue as a going concern. The company reports no disagreements with BCRG on accounting principles, disclosures, or audit scope, and no reportable events other than previously disclosed material weaknesses in internal control over financial reporting. Blue Line did not consult Simon & Edward on accounting issues before the engagement and has obtained from BCRG a letter to the SEC, dated August 3, 2026, regarding these disclosures.
Blue Line Holdings Inc. is a development-stage industrial company focused on licensed functional beverages and reported no revenue for the three or nine months ended March 31, 2026. The company posted a net loss of $16,681 for the quarter and $65,109 for the nine-month period.
As of March 31, 2026, Blue Line held $7,682 in cash, total assets of $16,782, and total liabilities of $84,197, resulting in a stockholders’ deficit of $67,415 and an accumulated deficit of $180,115. The company funded operations mainly through $59,000 of promissory notes, including $50,000 due June 30, 2026, for which 100,000 shares were issued as consideration.
Management discloses substantial doubt about Blue Line’s ability to continue as a going concern due to recurring losses, limited financial resources, and dependence on raising additional equity or debt. Internal controls over financial reporting were deemed not effective, with material weaknesses including lack of segregation of duties and the potential for management override of controls.
Blue Line Holdings Inc. filed its quarterly report for the period ended December 31, 2025, showing it remains a pre-revenue, development-stage company focused on licensing and distributing CocoLove flavored water in France.
The company generated no revenue and recorded a net loss of $38,312 for the quarter and $48,428 for the six months. Cash was $15,713 against total liabilities of $82,422, including $59,000 of promissory notes, and stockholders’ deficit widened to $50,734. Management disclosed substantial doubt about the company’s ability to continue as a going concern and plans to rely on additional equity or debt financing while estimating it will need about $100,000 for CocoLove marketing and $50,000 for new licenses over the next year. Disclosure controls were deemed ineffective due to limited staff and segregation-of-duties weaknesses.
Blue Line Holdings, Inc. Chief Executive Officer Joseph C. Henn filed a Schedule 13D reporting control of the company’s common stock. He beneficially owns 5,100,000 shares, representing 50.4% of the outstanding common stock, giving him majority voting and dispositive power over these shares. The filing states that Mr. Henn used $5,100 of personal funds to acquire the stake by purchasing the shares owned by the company’s former CEO and director, effectively replacing that individual in both roles. The event triggering the filing occurred on 12/08/2025, and the Schedule 13D notes there are no additional contracts, arrangements, or understandings related to these securities beyond this transaction.
Blue Line Holdings, Inc. director, chief executive officer, and more than 10% owner Joseph C. Henn filed an initial ownership report on Form 3. The filing shows that he directly beneficially owns 5,100,000 shares of the company’s common stock. This position reflects his status as both a senior executive and a significant shareholder, aligning his financial interests closely with those of other stockholders.