Barrel Energy, Inc. reported a small but declining Q1 2026 business, with revenue of $42,395 versus $45,144 a year earlier and a net loss of $6,183 compared with prior net income of $16,859. Gross profit fell as costs and operating expenses, including higher insurance and bad debt, increased.
Total assets were $103,986, including $25,000 for a newly purchased service truck, and cash dropped to $4,236. Working capital decreased to $19,636. The accumulated deficit reached $317,010, and management disclosed “substantial doubt” about continuing as a going concern without new funding. The company plans to rely on equity issuances and has a material weakness in internal controls due to limited accounting staff.
Barrel Energy, Inc. reported a small but declining Q1 2026 business, with revenue of $42,395 versus $45,144 a year earlier and a net loss of $6,183 compared with prior net income of $16,859. Gross profit fell as costs and operating expenses, including higher insurance and bad debt, increased.
Total assets were $103,986, including $25,000 for a newly purchased service truck, and cash dropped to $4,236. Working capital decreased to $19,636. The accumulated deficit reached $317,010, and management disclosed “substantial doubt” about continuing as a going concern without new funding. The company plans to rely on equity issuances and has a material weakness in internal controls due to limited accounting staff.
Barrel Energy, Inc. filed an amended current report to update a previously reported change in its independent registered public accounting firm. The original filing noted that a required letter from former auditor Fruci & Associates II, PLLC under Item 304(a)(3) of Regulation S-K was not yet available. This amendment is being filed solely to add that letter as Exhibit 16.1, and no other changes were made to the prior disclosure.
Barrel Energy, Inc. filed an amended current report to update a previously reported change in its independent registered public accounting firm. The original filing noted that a required letter from former auditor Fruci & Associates II, PLLC under Item 304(a)(3) of Regulation S-K was not yet available. This amendment is being filed solely to add that letter as Exhibit 16.1, and no other changes were made to the prior disclosure.
Barrel Energy Inc. filed Amendment No. 2 to its Form 10 to furnish its audited consolidated financial statements for the year ended December 31, 2025. The auditor issued an unqualified opinion but flagged a going concern uncertainty tied to recurring losses and a net capital deficiency, as discussed in Note 3. The amendment supplies balance sheet, statements of operations, changes in shareholders' deficit, and cash flows for 2025 and 2024.
Barrel Energy Inc. filed Amendment No. 2 to its Form 10 to furnish its audited consolidated financial statements for the year ended December 31, 2025. The auditor issued an unqualified opinion but flagged a going concern uncertainty tied to recurring losses and a net capital deficiency, as discussed in Note 3. The amendment supplies balance sheet, statements of operations, changes in shareholders' deficit, and cash flows for 2025 and 2024.
Barrel Energy Inc. filed an 8-K to report a change in its independent auditor. On April 28, 2026, the company dismissed Fruci & Associates II, PLLC, which had audited its 2023 and 2024 financial statements and reviewed 2025 interim results.
The Board of Directors approved the change and reported no disagreements or reportable events with the former firm. On April 21, 2026, Barrel Energy engaged Shah Teelani & Associates Chartered Accountants to audit its financial statements for the year ended December 31, 2025, supporting its previously filed Form 10.
Barrel Energy Inc. filed an 8-K to report a change in its independent auditor. On April 28, 2026, the company dismissed Fruci & Associates II, PLLC, which had audited its 2023 and 2024 financial statements and reviewed 2025 interim results.
The Board of Directors approved the change and reported no disagreements or reportable events with the former firm. On April 21, 2026, Barrel Energy engaged Shah Teelani & Associates Chartered Accountants to audit its financial statements for the year ended December 31, 2025, supporting its previously filed Form 10.