Controlling holder shifts at Catalyst Crew (OTCQB: CCTC) amid losses
Catalyst Crew Technologies Corp. is a development-stage company building facial recognition software and reported no revenue for 2025 or 2024. For the year ended December 31, 2025, it recorded a net loss of $207,485, compared with a loss of $3,261,038 in 2024.
The balance sheet is extremely weak: as of December 31, 2025 the company reported no assets or cash and total liabilities of $630,860, resulting in a stockholders’ deficit of the same amount. The auditor issued a going concern paragraph, citing recurring losses, a large accumulated deficit of $29,600,786, and dependence on external financing.
The business has not commercialized its facial recognition technology and remains focused on research and development, funded by equity sales and notes payable. In February 2026, Dr. Kevin Rodan Levy acquired and was issued shares to reach 40,000,000 shares, or about 71.1% ownership, triggering a change in control and new leadership.
Positive
- None.
Negative
- Going concern risk: the auditor cited substantial doubt about the company’s ability to continue as a going concern, with cumulative losses of $29,600,786, no assets or cash at year-end 2025, and reliance on external financing.
- Highly leveraged balance sheet: as of December 31, 2025 the company had $630,860 in current liabilities, no current assets, and a stockholders’ deficit of the same amount, leaving no buffer for operating setbacks.
Insights
High-risk microcap: no revenue, no assets, going concern warning, and tight financing dependence.
Catalyst Crew Technologies remains pre-revenue while developing facial recognition software. For 2025 it reported a net loss of $207,485 versus $3,261,038 in 2024, entirely funded through equity sales and new borrowing rather than operations.
The balance sheet is particularly weak: at December 31, 2025 the company reported zero assets and cash against liabilities of $630,860. The auditor highlighted substantial doubt about its ability to continue as a going concern, citing a cumulative deficit of $29,600,786 and ongoing negative operating cash flows.
Subsequent events add governance and dilution considerations. In February 2026, Dr. Kevin Rodan Levy became controlling shareholder with about 71.1% ownership and the company issued 12,000,000 restricted shares for healthcare-related technology assets. Investors will need future filings to see how this strategic shift and continued capital raising affect results.
Key Figures
Key Terms
development-stage company financial
going concern financial
facial recognition technology technical
penny stock regulatory
material weakness financial
OTCQB Marketplace market
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |
|
|
| For the fiscal year ended |
|
|
| or |
|
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |
|
|
| For the transition period from __________ to __________ |
(Exact name of registrant as specified in its charter) |
|
| |||
(State or other jurisdiction of Incorporation) |
| (Commission File Number) |
| (IRS Employer Identification No.) |
(Address of principal executive offices, including zip code.)
(
(Telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: Common Stock, $0.001 Par Value
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes ☐
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 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, a 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 has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒
The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter was approximately $6,204,354. Shares of common stock held by each executive officer and director and by each person who owns 10% or more of the outstanding common stock of the registrant have been excluded in that such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes. Without acknowledging that any individual director of registrant is an affiliate, all directors have been included as affiliates with respect to shares owned by them.
As of March 31, 2026, there were
CATALYST CREW TECHNOLOGIES CORP.
Report on Form 10-K
TABLE OF CONTENTS
|
|
| Page |
|
PART I. |
|
|
|
|
|
|
|
|
|
Item 1. | Business |
| 3 |
|
Item 1A. | Risk Factors |
| 7 |
|
Item 1B. | Unresolved Staff Comments |
| 9 |
|
Item 1C | Cybersecurity |
| 10 |
|
Item 2. | Properties |
| 10 |
|
Item 3. | Legal Proceedings |
| 10 |
|
Item 4. | Mine Safety Disclosures |
| 10 |
|
|
|
|
|
|
PART II. |
|
| 11 |
|
|
|
|
|
|
Item 5. | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities |
| 11 |
|
Item 6. | [Reserved] |
| 11 |
|
Item 7. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
| 11 |
|
Item 7A. | Quantitative and Qualitative Disclosures About Market Risk |
| 13 |
|
Item 8. | Financial Statements and Supplementary Data |
| 13 |
|
Item 9. | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure |
| 13 |
|
Item 9A. | Controls and Procedures |
| 13 |
|
Item 9B. | Other Information |
| 14 |
|
Item 9C. | Disclosure Regarding Foreign Jurisdictions that Prevent Inspections |
| 14 |
|
|
|
|
|
|
PART III. |
|
| 15 |
|
|
|
|
|
|
Item 10. | Directors, Executive Officers and Corporate Governance |
| 15 |
|
Item 11. | Executive Compensation |
| 17 |
|
Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters |
| 17 |
|
Item 13. | Certain Relationships and Related Transactions, and Director Independence |
| 18 |
|
Item 14. | Principal Accountant Fees and Services |
| 18 |
|
|
|
|
|
|
PART IV. |
|
| 19 |
|
|
|
|
|
|
Item 15. | Exhibits and Financial Statement Schedules |
| 19 |
|
Item 16. | Form 10-K Summary |
|
|
|
| 2 |
| Table of Contents |
PART I
FORWARD LOOKING STATEMENTS
Except for statements of historical fact, certain information described in this Annual Report on Form 10-K (“Annual Report”) contains “forward-looking statements” that involve substantial risks and uncertainties. You can identify these statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” “would” or similar words. The statements that contain these or similar words should be read carefully because these statements discuss the Company’s future expectations, including its expectations of its future results of operations or financial position, or state other “forward-looking” information. Catalyst Crew Technologies Corp. believes that it is important to communicate its future expectations to its investors. However, there may be events in the future that the Company is not able to accurately predict or to control. Further, the Company urges you to be cautious of the forward-looking statements which are contained in this Annual Report because they involve risks, uncertainties and other factors affecting its operations, market growth, service, products, and licenses. The risk factors in the section captioned “Risk Factors” in Item 1A of the Company’s Annual Report, as well as other cautionary language in this Annual Report, describe such risks, uncertainties and events that may cause the Company’s actual results and achievements, whether expressed or implied, to differ materially from the expectations the Company describes in its forward-looking statements. The occurrence of any of the events described as risk factors could have a material adverse effect on the Company’s business, results of operations and financial position.
ITEM 1. BUSINESS.
Corporate Overview
Catalyst Crew Technologies Corp. (“Catalyst Crew,” the “Company,” “we,” “us,” or “our”) is a development-stage technology company focused on the research, development, and future commercialization of facial recognition technology (“FRT”) solutions. Our business is centered on building software-based FRT systems designed to support identity verification, access control, security, and analytics use cases across select commercial and institutional markets.
The Company was originally incorporated in Nevada on September 11, 2008. Following a series of corporate reorganizations and changes in management, the Company re-evaluated its strategic direction in 2024 and transitioned to its current business focus on facial recognition technology. Since that time, management has devoted its efforts to establishing the technological foundation, defining intended applications, and evaluating regulatory, ethical, and operational considerations associated with the responsible development of FRT.
We are in the early stages of developing our technology and have not yet generated revenue from operations. Our activities to date have primarily consisted of technology development, product design, strategic planning, and the evaluation of potential commercialization pathways. The timing and scope of future commercialization efforts are dependent on, among other things, our ability to secure additional financing, complete development milestones, and comply with applicable regulatory and privacy requirements.
We intend to continue investing in the development of our facial recognition technology with the objective of advancing toward commercial deployment beginning in 2026, subject to available capital and market conditions. There can be no assurance that we will successfully complete development, obtain necessary financing, or achieve commercialization on a timely basis, if at all.
Business Focus – Facial Recognition Technology
The Company’s business is focused on the development of facial recognition technology (“FRT”) software designed to support identity verification, access management, and analytical use cases. Our technology is being developed to analyze facial images and video data to identify, verify, or classify individuals based on biometric facial characteristics, while incorporating safeguards intended to address accuracy, privacy, and ethical considerations.
| 3 |
| Table of Contents |
Our development efforts are directed toward creating flexible, software-based FRT solutions that may be deployed across a range of commercial and institutional environments. We are designing our technology to be modular in nature, allowing for integration with existing systems and platforms, including cameras, databases, and third-party software applications. While our technology is still under development, we believe this approach provides adaptability for different end-user requirements and regulatory environments.
We intend for our facial recognition solutions to support use cases such as identity authentication, access control, security monitoring, and data-driven analytics. These intended applications are designed to assist organizations in enhancing security, operational efficiency, and decision-making processes. However, our technology has not yet been commercialized, and we have not generated revenue from these activities.
A key aspect of our business focus is the responsible development of facial recognition technology. Management is mindful of the heightened regulatory scrutiny, privacy considerations, and ethical concerns associated with biometric technologies. As a result, we are incorporating considerations related to data protection, transparency, and bias mitigation into our development process. Our objective is to build technology that aligns with evolving legal standards and industry expectations governing the collection and use of biometric data.
Our continued development efforts are dependent on access to additional capital, the successful advancement of our technology, and ongoing evaluation of regulatory and market conditions. We expect to continue refining our facial recognition technology with the goal of progressing toward potential commercialization beginning in 2026, subject to financing and other factors beyond our control.
Development Status
The Company is a development-stage technology company and has not yet generated revenue from its planned facial recognition technology operations. Our activities to date have primarily consisted of research and development, technology design and refinement, evaluation of potential use cases, and strategic planning related to the future commercialization of our facial recognition solutions.
During the fiscal year ended December 31, 2025, our development efforts were limited by capital constraints. As a result, progress during this period focused on maintaining and advancing core development initiatives, evaluating technical architecture, and assessing regulatory, privacy, and ethical considerations relevant to facial recognition technology. We did not engage in large-scale product launches, customer deployments, or revenue-generating activities during this period.
We currently do not have any commercial products available for sale and have not entered into revenue-producing customer agreements. Our ability to move beyond the development stage and commence commercialization will depend on a number of factors, including our ability to secure additional financing, complete development milestones, and adapt our technology to applicable legal and regulatory requirements.
Management intends to continue development of the Company’s facial recognition technology with the objective of progressing toward initial commercialization beginning in 2026, subject to the availability of capital and market conditions. There can be no assurance that sufficient financing will be obtained, that development efforts will be successfully completed, or that commercialization will occur as anticipated, if at all.
Technology Overview
The Company is developing facial recognition technology (“FRT”) software that leverages artificial intelligence, machine learning, and computer vision techniques to analyze facial images and video data for identification, verification, and analytical purposes. Our technology is intended to process visual inputs to extract and compare biometric facial features in order to support a range of identity-related use cases.
Our development approach focuses on building software-based systems capable of operating across varied environments and data inputs. The technology is designed to capture facial images from still photographs or video streams, perform preprocessing to enhance image quality and normalize facial features, and apply analytical models to generate biometric templates that may be used for comparison and classification. These processes are intended to function across different lighting conditions, camera qualities, and facial orientations, although performance may vary based on implementation and operating conditions.
| 4 |
| Table of Contents |
We are designing our facial recognition technology using a modular architecture, allowing components such as face detection, feature extraction, matching, and analytics to be developed and refined independently. This approach is intended to provide flexibility for future integration with third-party platforms, databases, and hardware systems, as well as adaptability to evolving regulatory and customer requirements.
In developing our technology, we utilize a combination of internally developed software and widely used open-source frameworks and libraries commonly employed in artificial intelligence and computer vision applications. These tools are used to support model development, training, testing, and optimization. While the use of open-source components can accelerate development, it also requires careful management of licensing, security, and compliance considerations, which we continue to evaluate as part of our development process.
Our technology development efforts also incorporate considerations related to data privacy, accuracy, and bias mitigation. Management is evaluating techniques intended to improve model performance across diverse datasets and operating conditions, as well as methods designed to reduce the risk of inaccurate or biased outputs. These efforts are ongoing and remain subject to technical, regulatory, and resource constraints.
At this stage, our facial recognition technology remains under development and has not been commercialized. Further advancement of the technology will require additional development work, testing, and validation prior to any potential commercial deployment.
Target Markets & Intended Applications
The Company is developing its facial recognition technology with the intent to address identity verification, access control, and analytical needs across select commercial and institutional markets. While our technology has not yet been commercialized, management has identified several market segments where facial recognition solutions are increasingly being evaluated as part of broader security, authentication, and operational efficiency initiatives.
We currently intend to focus on markets where biometric technologies may provide value through enhanced identity verification and secure access management. These markets may include commercial facilities, enterprise environments, and organizations that require controlled access to physical or digital resources. Our technology is being designed to support authentication and monitoring use cases where accuracy, reliability, and compliance with applicable privacy standards are critical considerations.
In addition, we believe facial recognition technology may have applications in sectors that utilize analytics to support operational decision-making. These potential applications may include security monitoring, fraud prevention, and other analytical functions that rely on identity-based data insights. Any such applications would be subject to applicable laws, regulatory requirements, and organizational policies governing the collection and use of biometric data.
Our intended applications are designed to be adaptable to different deployment environments, including on-premises systems and software-based platforms, depending on customer requirements and regulatory constraints. However, we have not yet finalized product configurations, pricing models, or go-to-market strategies, and we have not entered into any commercial agreements related to these markets.
The identification of these target markets and intended applications reflects management’s current expectations based on industry trends and regulatory considerations. Actual market adoption, if any, will depend on a number of factors, including the successful completion of development efforts, the availability of capital, customer acceptance, competitive dynamics, and evolving legal and regulatory frameworks.Top of Form
Regulatory, Privacy, and Ethical Considerations
The development and use of facial recognition technology are subject to increasing regulatory oversight, evolving privacy laws, and heightened ethical considerations. Management recognizes that biometric technologies, including facial recognition, raise important issues related to data protection, individual privacy, transparency, and potential bias. These considerations are integral to the Company’s development process and long-term business strategy.
| 5 |
| Table of Contents |
Facial recognition solutions may be subject to a variety of domestic and international laws and regulations governing the collection, storage, processing, and use of biometric data. These laws may include data protection and privacy frameworks at the federal, state, and international levels, as well as industry-specific regulations. Compliance obligations may vary by jurisdiction and may change over time, potentially affecting the design, deployment, and commercialization of our technology.
The Company is incorporating privacy and data protection considerations into its development efforts, including evaluating approaches intended to limit data retention, support lawful data use, and align with emerging regulatory expectations. However, regulatory requirements in this area continue to evolve, and compliance may require ongoing modifications to our technology, policies, or business practices.
In addition to regulatory considerations, management is mindful of ethical issues associated with facial recognition technology, including concerns related to accuracy, bias, and the potential misuse of biometric data. As part of our development process, we are evaluating methodologies and controls intended to promote responsible use of our technology and to mitigate the risk of unintended or discriminatory outcomes. These efforts are ongoing and may be constrained by technical, regulatory, and financial factors.
Failure to adequately address regulatory, privacy, or ethical considerations could adversely affect the Company’s ability to commercialize its technology, limit market adoption, or expose the Company to legal or reputational risks. Accordingly, management intends to continue monitoring regulatory developments and ethical standards relevant to facial recognition technology as the Company advances its development efforts.
Employees & Contractors
As of December 31, 2025, the Company had no full-time employees and utilized independent contractors to support its operations and technology development efforts, as needed. Our workforce structure reflects our status as a development-stage company and our focus on managing costs while advancing our facial recognition technology initiatives.
The Company’s employees and contractors will be primarily engaged in technology development, research, strategic planning, and administrative functions. We rely on independent contractors for certain specialized services, including software development and technical support, which allows us to access specific expertise without maintaining a large fixed workforce.
Management believes that our current personnel structure is appropriate for our present stage of development. As the Company’s operations progress and subject to the availability of capital, we may seek to expand our workforce or increase contractor engagement to support additional development, testing, and potential commercialization activities.
Bottom of Form
Corporate History
The Company was incorporated on September 11, 2008, as a Nevada corporation under the name Hermes Jet Inc. The Company initially intended to operate in the executive aircraft brokerage sector but did not establish sustained operations.
In January 2011, the Company filed a registration statement on Form S-1 under the Securities Act of 1933. Due to the lack of meaningful operations, the Company suspended its reporting obligations in June 2013 by filing a Form 15. The Company ceased operations in 2016.
In June 2018, Hybrid Titan Management, LLC initiated legal proceedings against the Company related to legacy liabilities. In January 2019, a Nevada state court appointed a receiver to manage the affairs of the Company. During the receivership, the receiver reinstated the Company’s corporate status, addressed outstanding regulatory and state filings, and appointed new management. The receivership concluded in 2019.
Following the conclusion of the receivership, the Company resumed corporate activities under new management. In March 2023, the Company entered into an asset purchase agreement pursuant to which it acquired certain data analytics–related assets and evaluated opportunities in data-driven software development.
| 6 |
| Table of Contents |
In September 2023, the Company restructured its executive leadership and board of directors and began pursuing development of analytics software through operating subsidiaries. During this period, the Company did not generate revenue from operations.
In June 2024, following a change in control and additional management changes, the Company undertook a strategic review of its business. As a result, the Company ceased its data analytics initiatives, relinquished its interests in existing subsidiaries, and transitioned its business focus to the development of facial recognition technology. In connection with this transition, the Company acquired facial recognition technology–related intellectual property and reconstituted its board of directors and executive management.
The Company approved a change of its corporate name to Catalyst Crew Technologies Corp. to better reflect its current business focus and intends to effect the name change when management determines it is appropriate. In the interim, the Company operates under the name Catalyst Crew Technologies.
Subsequent Events
On February 17, 2026, the Company entered into an Affiliate Stock Purchase Agreement pursuant to which Kevin Rodan Levy (“Dr. Levy”) acquired 28,000,000 shares of the Company’s common stock from Andrew Gaudet for aggregate consideration of $10,000 in cash. The source of funds for such purchase was Dr. Levy’s personal funds.
Contemporaneously therewith, on February 17, 2026, the Company entered into an Asset Purchase Agreement (the “APA”) with Dr. Levy pursuant to which the Company acquired certain assets relating to (i) an artificial intelligence-enabled healthcare analytics platform and (ii) a technology-enabled healthcare services coordination platform (collectively, the “Acquired Assets”). In consideration for the Acquired Assets, the Company issued 12,000,000 restricted shares of common stock to Dr. Levy.
Immediately following the stock purchase transaction and the issuance of the 12,000,000 shares pursuant to the APA, Dr. Levy beneficially owned 40,000,000 shares of the Company’s common stock, representing approximately 71.1% of the Company’s then issued and outstanding shares of common stock. As a result, a change in control of the Company occurred.
In connection with the change in control described above, the following individuals resigned from their respective positions with the Company, effective February 17, 2026:
| · | Andrew Gaudet resigned as Director and Chief Operating Officer; |
| · | Waqas Nakhwa resigned as Chairman, Chief Executive Officer, Chief Financial Officer, President, Secretary, and Director; |
| · | Navneet B. Tayal resigned as Director; and |
| · | Vineet Jawa resigned as Director. |
Each resignation was not the result of any disagreement with the Company relating to the Company’s operations, policies, or practices.
Effective February 17, 2026, Kevin Rodan Levy was appointed as Sole Director of the Company; Chief Executive Officer; President; Chief Financial Officer; Secretary; and Treasurer.
On March 23, 2026, the Company completed the acquisition of one hundred percent (100%) of the issued and outstanding shares of Inversiones Long 33, C.A. pursuant to a Share Assignment Agreement with Kevin Rodan Levy. As a result of the foregoing, Inversiones Long 33, C.A. is a wholly-owned subsidiary of the Company. The Subsidiary was previously formed and is intended to serve as the Company’s operating entity in Venezuela and as part of its broader Latin American strategy.
On March 31, 2026, the Board of Directors of Catalyst Crew Technologies Corp. (the “Company”) appointed Carlos Peña, age 38, as Chief Financial Officer of the Company.
The foregoing transactions were disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 25, 2026.
AVAILABLE INFORMATION
The Company prepares and files annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and certain other information with the SEC. The SEC maintains an Internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC at http://www.sec.gov.
ITEM 1A. RISK FACTORS
Investing in our common stock involves a high degree of risk. You should carefully consider the risks described below, together with the other information contained in this Annual Report, before making an investment decision. If any of the following risks occur, our business, financial condition, results of operations, and prospects could be materially and adversely affected. In such event, the market price of our common stock could decline, and you could lose all or part of your investment.
RISKS RELATED TO OUR COMPANY
We are a development-stage company with no revenue and a history of losses, and we may never achieve profitability.
We are a development-stage technology company and have not yet generated revenue from operations. Since inception, we have incurred net losses and expect to continue to incur losses for the foreseeable future as we continue to develop our facial recognition technology and related business operations. We have a limited operating history upon which to evaluate our business prospects, and there can be no assurance that our development efforts will result in commercially viable products or services.
Prior to commercialization, we expect to incur increased operating expenses without corresponding revenues. If we are unable to successfully develop, commercialize, and market our technology, or if market acceptance does not occur, our business may fail and investors could lose their entire investment.
We may not be able to continue as a going concern if we do not obtain additional financing.
Our independent registered public accounting firm has issued an audit report expressing substantial doubt about our ability to continue as a going concern. Our ability to continue operations is dependent upon obtaining additional financing through equity offerings, debt financings, shareholder support, or other sources.
There can be no assurance that additional financing will be available when needed, in sufficient amounts, or on acceptable terms. If we are unable to obtain additional capital, we may be required to delay, scale back, or discontinue our development activities, which would have a material adverse effect on our business.
| 7 |
| Table of Contents |
We have no cash flow from operations and are dependent on external financing.
We currently generate no cash flow from operations and rely on equity financings and shareholder loans to fund our activities. Our existing capital resources are insufficient to complete our planned development and commercialization efforts. Failure to obtain additional funding could result in the suspension or termination of our business activities.
Our management team is small, and the loss of key personnel could adversely affect our business.
Our operations depend heavily on the continued services of our President and Chief Executive Officer, who devotes a portion of his time to our business and may have other professional obligations. The loss of his services, or our inability to attract and retain additional qualified personnel, could materially harm our development efforts and business prospects.
Our controlling shareholder has significant voting power, which may not align with the interests of other shareholders.
Our President and Chief Executive Officer beneficially owns a majority of our outstanding common stock and is able to exercise significant control over matters requiring stockholder approval, including the election of directors, approval of significant corporate transactions, and changes in management. This concentration of ownership may discourage or prevent a change in control and could limit other shareholders’ ability to influence corporate decisions.
Our operating results may fluctuate significantly.
Our future operating results may vary significantly due to numerous factors, many of which are beyond our control, including the timing and amount of operating expenses, availability of capital, regulatory developments, market acceptance of our technology, and general economic conditions. As a result, period-to-period comparisons may not be meaningful, and our operating results may fall below investor expectations.
RISKS RELATED TO OUR INDUSTRY
The facial recognition industry is highly competitive, rapidly evolving, and subject to changing public perception.
The facial recognition and biometric technology industry is characterized by rapid technological change, evolving standards, frequent product introductions, and intense competition. We compete with significantly larger, well-capitalized companies that have established brands, extensive customer relationships, and greater financial and technical resources.
In addition, public and governmental attitudes toward facial recognition technology continue to evolve. Changes in social acceptance, political sentiment, or public policy could reduce demand for facial recognition solutions or restrict their deployment.
Rapid technological change could render our technology obsolete or uncompetitive.
Our success depends on our ability to continually develop and improve our technology to address evolving industry standards, regulatory requirements, and customer expectations. If we fail to adapt to technological advancements or competing solutions, our technology may become obsolete or commercially unattractive.
Privacy laws, biometric regulations, and data protection requirements could limit adoption of our technology.
The collection and use of biometric data are subject to increasing regulation in the United States and internationally. Existing and future laws governing data privacy, biometric information, artificial intelligence, and surveillance may impose additional compliance obligations, restrict the deployment of our technology, or increase our costs.
Failure to comply with applicable laws and regulations could result in fines, penalties, litigation, reputational harm, or limitations on our ability to operate in certain jurisdictions.
| 8 |
| Table of Contents |
Ethical concerns, algorithmic bias, and misuse of facial recognition technology could adversely affect our business.
Facial recognition technology raises ethical concerns, including the potential for algorithmic bias, inaccurate identification, and misuse in ways that may infringe individual rights. Failure to adequately address these concerns could result in reputational harm, regulatory scrutiny, reduced market acceptance, and loss of business opportunities.
RISKS RELATED TO OUR TECHNOLOGY AND INTELLECTUAL PROPERTY
Our software is complex and may contain errors or vulnerabilities.
Our technology is highly complex and may contain undetected errors, defects, or security vulnerabilities. Such issues could result in system failures, inaccurate outputs, data breaches, reputational damage, or liability, any of which could adversely affect our business and prospects.
Our use of open-source software could subject us to additional risks.
Our technology incorporates open-source software components, which are subject to specific licensing terms. These licenses may impose obligations that could require us to disclose source code or limit our ability to commercialize our technology. In addition, open-source software may present security vulnerabilities and lacks warranties or support.
We may be unable to adequately protect our intellectual property or may be subject to infringement claims.
Our success depends in part on our ability to protect our intellectual property. We rely on a combination of trade secrets, copyrights, trademarks, and contractual protections, which may be insufficient. We may also be subject to claims alleging infringement of third-party intellectual property, which could be costly to defend and could require us to obtain licenses, pay damages, or discontinue use of certain technologies.
RISKS ASSOCIATED WITH OUR COMMON STOCK
Our common stock is subject to the SEC’s “penny stock” rules, which may limit liquidity.
Our common stock is considered a “penny stock” under SEC rules. These rules impose additional requirements on broker-dealers and may reduce trading activity, liquidity, and market value of our shares.
Future issuances of common stock could dilute existing shareholders.
We are authorized to issue a substantial number of shares of common stock. Future equity financings or issuances could result in significant dilution to existing shareholders and may adversely affect the market price of our common stock.
We do not anticipate paying dividends.
We do not expect to declare or pay dividends in the foreseeable future. Investors seeking income from dividends should not rely on an investment in our common stock.
ITEM 1B. UNRESOLVED STAFF COMMENTS.
This item is not applicable to the Company because the Company is a smaller reporting company as defined by Rule 12b-2 under the Securities Exchange Act of 1934.
| 9 |
| Table of Contents |
ITEM 1C. CYBERSECURITY
Risk Management and Strategy
The Company recognizes the importance of cybersecurity risk management and has implemented processes designed to assess, identify, and manage material risks from cybersecurity threats in a manner appropriate for the Company’s size, complexity, and stage of development. Our approach is focused on protecting the confidentiality, integrity, and availability of our information systems and data.
Our cybersecurity risk
Given our development-stage status, our cybersecurity efforts are primarily focused on preventive controls, access management, data protection, and incident response planning. We may engage third-party service providers, as appropriate, to support specific cybersecurity functions, such as vulnerability assessments or advisory services.
To date, we have not identified any cybersecurity incidents or threats that have
Governance
Oversight of cybersecurity risk is maintained by our
Management is responsible for implementing and maintaining processes designed to address cybersecurity risks and to respond to incidents, should they occur. As the Company grows and its operations evolve, we expect our cybersecurity governance and risk management practices to continue to develop.
ITEM 2. PROPERTIES
The Company leases office space located at Icon Tower, First Floor, Dubai Internet City, Dubai, United Arab Emirates. The Company pays approximately $2,000 per month in rent for this facility, which is used for administrative and development-related activities.
ITEM 3. LEGAL PROCEEDINGS.
The Company is not currently a party to any material pending or threatened legal proceedings. From time to time, the Company may be involved in legal proceedings arising in the ordinary course of business; however, such matters have not had a material adverse effect on the Company’s business, financial condition, results of operations, or liquidity.
ITEM 4. MINE SAFETY DISCLOSURES.
Not applicable.
| 10 |
| Table of Contents |
PART II
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Market Information
Beginning in November 2024, the Company’s common stock began traded under the symbol “CCTC” on the OTCQB Marketplace, prior to November 2024, the Company’s symbol was “CBBB”. The following table sets forth, in U.S. dollars, the high and low closing prices for each of the calendar quarters indicated, as reported by the OTCQB Marketplace, for the past two fiscal years. Such OTCQB Marketplace quotations reflect inter-dealer prices, without markup, markdown or commissions and, particularly because our common stock is traded infrequently, may not necessarily represent actual transactions or a liquid trading market.
|
| High |
|
| Low |
| ||
2025 |
|
|
|
|
|
| ||
Quarter ended December 31 |
| $ | 0.40 |
|
| $ | 0.2650 |
|
Quarter ended September 30 |
| $ | 1.00 |
|
| $ | 0.2650 |
|
Quarter ended June 30 |
| $ | 1.00 |
|
| $ | 0.3650 |
|
Quarter ended March 31 |
| $ | 0.6501 |
|
| $ | 0.6501 |
|
|
|
|
|
|
|
|
|
|
2024 |
|
|
|
|
|
|
|
|
Quarter ended December 31 |
| $ | 94.50 |
|
| $ | 0.10 | * |
Quarter ended September 30 |
| $ | 85.49 |
|
| $ | 81.00 |
|
Quarter ended June 30 |
| $ | 111.55 |
|
| $ | 81.00 |
|
Quarter ended March 31 |
| $ | 81.00 |
|
| $ | 81.00 |
|
* On or about, October 11, 2024 (“FINRA”) announced that a Reverse Split of Four Hundred Fifty-for-1 (450-for-1) of the issued and outstanding shares of the Company’s Common Stock would be made effective in the marketplace as of market open on October 14, 2024, the foregoing high and low share prices reflect the post-reverse split price per share.
Holders
As of December 31, 2025, there were 44,296,895 shares of the Company’s common stock issued and outstanding, held by approximately 149 holders of record. Of these shares, 29,255,638 were restricted and 15,041,257 were non-restricted. The transfer agent for the Company’s common stock is VStock Transfer LLC, Woodmere, New York.
Recent Sales of Unregistered Securities
None.
Issuer Purchases of Equity Securities
The Company did not repurchase any equity securities during the fiscal year ended December 31, 2025.
ITEM 6. [RESERVED]
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
The following discussion and analysis is intended as a review of significant factors affecting the Company’s financial condition and results of operations for the periods indicated. The discussion should be read in conjunction with the Company’s financial statements and the notes presented herein. In addition to historical information, the following Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. The Company’s actual results could differ significantly from those anticipated in these forward-looking statements as a result of the risk factors set forth above in Item 1A and other factors discussed in this Annual Report.
Results of Operations for the Years Ended December 31, 2025 and 2024
Revenues
We had no revenue for the years ended December 31, 2025 and 2024, respectively.
| 11 |
| Table of Contents |
Operating Expenses
Operating expenses increased to $171,852 for the year ended December 31, 2024, from $3,297,858 for the year ended December 31, 2024. The increase in operating expenses was the result of increased stock-based compensation for the year ended December 31, 2024.
Other Income (Expenses)
We had other expenses of $35,633 for the year ended December 31, 2025, as compared with other income of $36,820 for the year ended December 31, 2024.
Our other expenses for the year ended December 31, 2025, consisted mainly of interest expense. Our other expenses for the year ended December 31, 2024 consisted mainly of interest expense netted against a gain on settlement of debt.
Net Loss
We recorded a net loss of $207,485 for the year ended December 31, 2025, as compared with a net loss of $3,261,038 for the year ended December 31, 2024.
Liquidity and Capital Resources
Going concern – The accompanying 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. The Company has incurred cumulative net losses of $29,600,786 since its inception and requires capital for its contemplated operational and marketing activities to take place. The Company’s ability to generate the necessary funds through licensing of its core products or the ability to raise additional capital through the future issuances of common stock or debt is unknown. The obtainment of additional financing, the successful development of the Company’s contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. These factors, among others, raises substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.
As of December 31, 2025, we had total current assets of $0 and total assets in the amount of $0. Our total current liabilities as of December 31, 2025, were $630,860. We had a working capital deficit of $630,860 as of December 31, 2024, compared with a working capital deficit of $573,575 as of December 31, 2025.
Operating activities used $205,797 in cash for the year ended December 31, 2025, as compared with $66,834 used for the year ended December 31, 2024. Our negative operating cash flows for 2025 was the result of our net loss for the year, mainly offset by changes in operating assets and liabilities and shares issued for services. Our negative operating cash flows for 2024 was the result of our net loss for the year, mainly offset by changes in operating assets and liabilities, shares issued for services and loss on acquisition of assets.
Cash flows provided by financing activities during the year ended December 31, 2025 amounted to $205,797, as compared with cash provided of $66,834 for the year ended December 31, 2024. Our positive financing cash flow for the year ended December 31, 2025 resulted from the sales of common stock and proceeds from notes payable. Our positive financing cash flow for the year ended December 31, 2024 resulted from proceeds from notes payable.
The features of the debt instruments and payables concerning our financing activities are detailed in the footnotes to our financial statements.
Based upon our current financial condition, we do not have sufficient cash to operate our business at the current level for the next twelve months. We intend to fund operations through increased sales and debt and/or equity financing arrangements, which may be insufficient to fund expenditures or other cash requirements. We plan to seek additional financing in a private equity offering to secure funding for operations. There can be no assurance that we will be successful in raising additional capital.
| 12 |
| Table of Contents |
ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.
This item is not applicable to the Company because the Company is a smaller reporting company as defined by Rule 12b-2 under the Securities Exchange Act of 1934.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.
All financial information required by this Item is included on the pages immediately following the Index to Financial Statements appearing on page F-1 and is hereby incorporated by reference.
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
None
ITEM 9A. CONTROLS AND PROCEDURES.
Disclosure Controls and Procedures
Based on an evaluation as of the date of the end of the period covered by this report, the Company’s Chief Executive Officer and Chief Financial Officer conducted an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures, as required by Rule 13a-15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Based on that evaluation, the Company’s Chief Executive Officer and Chief Financial Officer concluded that, because of the disclosed material weaknesses in the Company’s internal control over financial reporting, the Company’s disclosure controls and procedures were ineffective as of the end of the period covered by this report to ensure that information required to be disclosed by the Company in the reports that the Company files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the SEC’s rules and forms.
Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in the Company’s reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in the Company’s reports filed under the Exchange Act is accumulated and communicated to management, including the Company’s Chief Executive Officer and the Company’s Chief Financial Officer, to allow timely decisions regarding required disclosure.
Management’s Annual Report on Internal Control Over Financial Reporting
Management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Exchange Act Rule 13a-15(f). Management conducted an evaluation of the effectiveness of the internal control over financial reporting as of December 31, 2025, using the criteria established in Internal Control – Integrated Framework (2013 framework) issued by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”). Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
| 13 |
| Table of Contents |
A material weakness is a control deficiency, or combination of control deficiencies, that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected. As a result of management’s assessment, management has determined that there are material weaknesses due to the lack of segregation of duties and, due to the limited resources based on the size of the Company. Due to the material weaknesses management concluded that as of December 31, 2025, the Company’s internal control over financial reporting was ineffective. In order to address and resolve the weaknesses, the Company will endeavor to locate and appoint additional qualified personnel to the board of directors and pertinent officer positions as the Company’s financial means allow. To date, the Company’s limited financial resources have not allowed the Company to hire the additional personnel necessary to address the material weaknesses.
This annual report does not include an attestation report of the Company’s registered public accounting firm regarding internal control over financial reporting. Management’s report was not subject to attestation by the Company’s registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the Company to provide only management’s report in this Annual Report.
Changes in Internal Control Over Financial Reporting
There have been no changes in the Company’s internal control over financial reporting that occurred during the Company’s last fiscal quarter (the Company’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.
The term “internal control over financial reporting” is defined as a process designed by, or under the supervision of, the registrant’s principal executive and principal financial officers, or persons performing similar functions, and effected by the registrant’s board of directors, management and other personnel, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that:
| (a) | Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the registrant; |
|
|
|
| (b) | Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the registrant are being made only in accordance with authorizations of management and directors of the registrant; and |
|
|
|
| (c) | Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the registrant’s assets that could have a material effect on the financial statements. |
ITEM 9B. OTHER INFORMATION.
During the year ended December 31, 2025, none of our directors or executive officers adopted or terminated a Rule 10b5-1 trading plan or a non-Rule 10b5-1 trading arrangement (as defined in Item 408(c) of Regulation S-K).
ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS
Not applicable.
| 14 |
| Table of Contents |
PART III
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE.
As of March, 31, 2026, the Company’s current directors and executive officers are as follows:
Name |
| Age |
| Position(s) |
Kevin Rodan Levy |
| 31 |
| President, Chief Executive Officer, Secretary, and Chairman of the Board of Directors |
Carlos Pena |
| 38 |
| Chief Financial Officer |
Effective February 17, 2026, the following individuals resigned from their respective positions with the Company,:
| · | Andrew Gaudet resigned as Director and Chief Operating Officer; |
| · | Waqas Nakhwa resigned as Chairman, Chief Executive Officer, Chief Financial Officer, President, Secretary, and Director; |
| · | Navneet B. Tayal resigned as Director; and |
| · | Vineet Jawa resigned as Director. |
Effective February 17, 2026, Kevin Rodan Levy was appointed as Sole Director of the Company; Chief Executive Officer; President; Chief Financial Officer; Secretary; and Treasurer.
On March 31, 2026, the Board of Directors of Catalyst Crew Technologies Corp. (the “Company”) appointed Carlos Peña, age 38, as Chief Financial Officer of the Company.
Term of Office
All the Company’s directors hold office until the next annual meeting of the stockholders or until their successors is elected and qualified. The Company’s executive officers are appointed by the Company’s board of directors and hold office until their resignation, removal, death or retirement.
Background and Business Experience
Kevin Rodan Levy: since 2021, Dr. Levy, age 31, has served as Chief Executive Officer of Grupo Casamed 18 C.A., a healthcare services company, where he has overseen healthcare service operations and development initiatives. He has also served as Chief Executive Officer of EmpleUp, a recruitment and human capital platform. His professional experience includes healthcare delivery management, healthcare operations, and the development of technology-enabled service platforms.
Dr. Levy earned his medical degree (Médico Cirujano) from Universidad Central de Venezuela – Escuela José María Vargas in January 2020. From January 2021 through December 2021, he served as a Rural Physician at Ambulatorio Rosario Milano in San Antonio de los Altos, Venezuela.
Dr. Levy completed a Master of Business Administration (MBA) at Instituto de Estudios Superiores de Administración (IESA), in April 2025. His additional professional training includes advanced cardiac life support certification through the American Heart Association, coursework in artificial intelligence applications in healthcare, medical imaging interpretation, leadership development, and financial market analysis.
The Company believes Dr. Levy’s combined background in clinical medicine, healthcare operations, business administration, and technology-focused training, including artificial intelligence applications relevant to healthcare analytics and digital health platforms, qualifies him to serve as the Company’s Chief Executive Officer and sole Director.
Carlos Pena: Mr. Peña has over ten years of experience in accounting, financial management, and audit support. Over the past five years, from 2021 to the present, Mr. Peña has worked as an independent accountant providing financial reporting, tax compliance, payroll administration, and related accounting services to various businesses. From March 2024 to the present, Mr. Peña has served as Supervisor of Administration and Finance for Aerovip, an aviation company based in Caracas, Venezuela, where he is responsible for overseeing financial operations, budgeting, internal controls, financial reporting, and audit coordination.
From 2023 to 2024, Mr. Peña also provided accounting and audit support services through Morales, Morales y Asociados, where he participated in audit procedures, internal control evaluations, and financial reporting processes. From 2020 to 2021, Mr. Peña worked with GSI Food Inc. as an accounts payable analyst, where he was responsible for managing expense processes, financial reporting support, and monthly close activities.
Earlier in his career, Mr. Peña held accounting and finance roles with organizations including Ostos, Velazquez & Asociados (KPMG affiliate), Netser Venezuela, Vivir Seguros, and Banesco Seguros, where he gained experience in tax compliance, financial reporting, reconciliations, and internal controls. Mr. Peña holds a degree in Public Accounting from Universidad Alejandro de Humboldt in Caracas, Venezuela.
| 15 |
| Table of Contents |
Section 16(a) Beneficial Ownership Reporting Compliance
Section 16(a) of the Securities Exchange Act of 1934 requires the Company’s executive officers, directors and persons who own more than 10% of the Company’s common stock to file with the SEC initial reports of beneficial ownership on Form 3, changes in beneficial ownership on Form 4, and an annual statement of beneficial ownership on Form 5. Such executive officers, directors and greater than 10% stockholders are required by SEC rules to furnish the Company with copies of all such forms that they have filed.
Based solely on its review of such forms filed with the SEC and received by the Company and representations from certain reporting persons, the Company believes that all reports required to be filed by each of each of its executive officers, directors and 10% stockholders were filed during the year ended December 31, 2025 and that such reports were timely.
Code of Ethics
The Company’s Board of Directors has not adopted a code of ethics that applies to the principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, because of the Company’s limited number of executive officers and employees that would be covered by such a code and the Company’s limited financial resources. The Company anticipates that it will adopt a code of ethics after it increases the number of executive officers and employees and obtain additional financial resources.
Audit Committee and Audit Committee Financial Expert
As of the date of this Report, the Company has not established an audit committee, and therefore, the Company’s full board of directors performs the functions that customarily would be undertaken by an audit committee. The Company’s Board of Directors during 2025 and 2024 was comprised of two directors, one of whom the Company had determined satisfied the general independence standards of the NASDAQ listing requirements.
The Company’s Board of Directors has determined that none of its current members qualifies as an “audit committee financial expert,” as defined by the rules of the SEC. In the future, the Company intends to establish board committees and to appoint such persons to those committees as are necessary to meet the corporate governance requirements imposed by a national securities exchange, although it is not required to comply with such requirements until the Company elects to seek listing on a national securities exchange.
Board of Directors; Attendance at Meetings
The Board held no meetings and acted by unanimous written consent one time during the year ended December 31, 2025. The Board held no meetings and acted by unanimous written consent two times during the year ended December 31, 2024. We have no formal policy with respect to the attendance of Board members at annual meetings of shareholders but encourage all incumbent directors and director nominees to attend each annual meeting of shareholders.
| 16 |
| Table of Contents |
ITEM 11. EXECUTIVE COMPENSATION.
As of the date of this Report, no officer or director has received any compensation from the Company since the inception of the Company.
Outstanding Equity Awards at Fiscal Year-End
There are no current outstanding equity awards to our executive officers.
Long-Term Incentive Plans
There are no arrangements or plans in which we provide pension, retirement or similar benefits for directors or executive officers.
Compensation of Directors
Our directors receive no annual salary or bonus for their service as members of the Company’s board of directors.
Security Holders Recommendations to Board of Directors
Shareholders can direct communications to our Chief Executive Officer, at our executive offices. However, while we appreciate all comments from shareholders, we may not be able to individually respond to all communications. We attempt to address shareholder questions and concerns in our press releases and documents filed with the SEC so that all shareholders have access to information about us at the same time. Our CEO collects and evaluates all shareholder communications. All communications addressed to our directors and executive officers will be reviewed by those parties unless the communication is clearly frivolous.
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS
ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.
The following table sets forth information regarding the beneficial ownership of our common stock as of December 31, 2025, by (i) each of our directors and executive officers, (ii) all directors and executive officers as a group, and (iii) each person known by us to beneficially own more than 5% of our outstanding common stock. Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission.
As of December 31, 2025, there were 44,296,895 shares of common stock issued and outstanding. Unless otherwise indicated, the address of each beneficial owner listed below is c/o Catalyst Crew Technologies Corp., 30 North Gould Street, Suite R, Sheridan, Wyoming 82801.
Beneficial Ownership of Common Stock
Name of Beneficial Owner |
| Position |
|
| Shares Beneficially Owned |
|
| % of Outstanding Shares |
| |||
Andrew Gaudet |
| Chief Operating Officer and Director |
|
|
| 29,002,223 |
|
|
| 65.47 | % | |
Waqas Nakhwa |
| Chairman of the Board, Chief Executive Officer, President, Chief Financial Officer, and Secretary |
|
|
| 162,100 |
|
|
| 0.37 | % | |
Vineet Jawa |
| Director |
|
|
| 0 |
|
|
| 0 | % | |
Navneet B. Tayal |
| Director |
|
|
| 0 |
|
|
| 0 | % | |
All directors and executive officers as a group (4 persons) |
| — |
|
|
| 29,164,323 |
|
|
| 65.84 | % | |
Notes:
| 1. | Beneficial ownership is determined in accordance with Rule 13d-3 of the Securities Exchange Act of 1934 and includes shares over which the beneficial owner has voting and/or investment power. |
| 2. | Except as otherwise indicated, each person listed above has sole voting and dispositive power with respect to the shares beneficially owned. |
| 3. | All shares beneficially owned by Andrew Gaudet are restricted securities bearing a legend under the Securities Act of 1933. |
| 17 |
| Table of Contents |
Changes in Control
On February 17, 2026, Kevin Rodan Levy acquired 28,000,000 shares of the Company’s common stock from Andrew Gaudet pursuant to a certain Affiliate Stock Purchase Agreement dated February 17, 2026. Prior to the transaction, Mr. Gaudet was the Company’s majority shareholder. As a result of the transaction, Dr. Levy became the Company’s majority shareholder. Following the stock purchase transaction and the issuance of 12,000,000 shares of common stock to Dr. Levy pursuant to the Asset Purchase Agreement, Dr. Levy beneficial owned approximately 40,000,000 shares of the Company’s common stock, representing approximately 71.1% of the Company’s issued and outstanding shares.
The stock purchase transaction resulted in a change in control of the Company.
Additionally, effective February 17, 2026, in connection with the change in control described in Item 5.01 above, the following individuals resigned from their positions with the Company:
| · | Andrew Gaudet resigned as Director and Chief Operating Officer; |
| · | Waqas Nakhwa resigned as Chairman, Chief Executive Officer, Chief Financial Officer, President, Secretary, and Director; |
| · | Navneet B. Tayal resigned as Director; and |
| · | Vineet Jawa resigned as Director. |
The resignations were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.
Effective February 17, 2026, Kevin Rodan Levy was appointed as the Company’s sole Director, on the same day Dr. Levy was also appointed as Chief Executive Officer, President, Chief Financial Officer, Secretary, and Treasurer of the Company. There are no arrangements or understandings between Dr. Levy and any other person pursuant to which he was selected as a director or officer.
Other than the foregoing, there are no arrangements, agreements, or pledges of the Company’s securities that may result in a change in control of the Company.
ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE.
The Company’s Board of Directors is currently composed of one member, Dr. Kevin Rodan Levy, who is not considered independent.
On February 17, 2026, Kevin Rodan Levy acquired 28,000,000 shares of the Company’s common stock from Andrew Gaudet pursuant to a certain Affiliate Stock Purchase Agreement dated February 17, 2026. Prior to the transaction, Mr. Gaudet was the Company’s majority shareholder. As a result of the transaction, Dr. Levy became the Company’s majority shareholder.
Immediately following the stock purchase transaction and the issuance of 12,000,000 shares of common stock to Dr. Levy pursuant to the Asset Purchase Agreement, Dr. Levy beneficial owned approximately 40,000,000 shares of the Company’s common stock, representing approximately 71.1% of the Company’s issued and outstanding shares.
ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Audit Fees
The aggregate fees billed by the Company’s principal accountant, Beckles & Co. Inc., for professional services rendered for the audit of the Company’s annual financial statements and review of financial statements included in the Company’s quarterly reports for the fiscal years ended December 31, 2025 and 2024 were $20,000 and $20,000, respectively. These services also included fees associated with statutory and regulatory filings and engagements.
Audit-Related Fees
The aggregate fees billed by Beckles & Co. Inc. for professional services that are reasonably related to the performance of the audit or review of the Company’s financial statements, but not reported under “Audit Fees,” for the fiscal years ended December 31, 2025 and 2024 were $0 and $0, respectively.
Tax Fees
The Company did not incur any fees for tax-related services provided by Beckles & Co. Inc. during the fiscal years ended December 31, 2025 and 2024.
All Other Fees
The Company did not incur any other fees billed by Beckles & Co. Inc. for products or services during the fiscal years ended December 31, 2025 and 2024.
Pre-Approval Policies and Procedures
All services performed by Beckles & Co. Inc. were pre-approved by the Company’s Board of Directors.
| 18 |
| Table of Contents |
PART IV
ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.
(a) Documents filed as part of this Report.
1. Financial Statements.
The Company’s Balance Sheets as of December 31, 2025 and 2024, the Statements of Operations for the years ended December 31, 2025 and 2024, the Statements of Changes in Stockholders’ Equity for the years ended December 31, 2025 and 2024, and the Statements of Cash Flows for the years ended December 31, 2025 and 2024, together with the notes thereto and the report of Beckles & Co. Inc., the Company’s independent registered public accounting firm, as required by Item 8 of this Annual Report on Form 10-K, are included in Item 8 of this Report.
2. Financial Statement Schedules.
All financial statement schedules have been omitted because they are either not required or not applicable, or because the information required is included in the financial statements or the notes thereto.
3. Exhibits.
The following exhibits are filed as part of this Report or are incorporated herein by reference. Exhibit numbers correspond to the numbering system set forth in Item 601 of Regulation S-K.
EXHIBIT |
| DESCRIPTION |
3.1(1) |
| Articles of Incorporation, as amended |
3.2(1) |
| Bylaws |
3.3(2) |
| Certificate of Amendment to the Articles of Incorporation |
3.4(2) |
| Certificate of Change Reflecting Reverse Stock Split |
10.1(3) |
| Asset Purchase Agreement, dated February 17, 2026, by and between Catalyst Crew Technologies Corp. and Kevin Rodan Levy.* |
10.2(1) |
| Intellectual Property Assignment Agreement, dated February 17, 2026, by and between Catalyst Crew Technologies Corp. and Kevin Rodan Levy.* |
21.1 |
| List of Subsidiaries |
31.1 |
| Certification of Principal Executive Officer to Rule 13A-14(A) Under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.* |
31.2 |
| Certification of Principal Financial Officer Pursuant to Rule 13A-14(A) Under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.* |
32.1 |
| Certification pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002. * |
32.2 |
| Certification pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002. * |
101.INS |
| Inline XBRL Instance Document# |
101.SCH |
| Inline XBRL Taxonomy Extension Schema# |
101.CAL |
| Inline XBRL Taxonomy Extension Calculation Linkbase# |
101.DEL |
| Inline XBRL Inline XBRL Taxonomy Extension Definition Linkbase# |
101.LAB |
| Inline XBRL Inline XBRL Taxonomy Extension Labels Linkbase# |
101.PRE |
| Inline XBRL Taxonomy Extension Presentation Linkbase# |
104 |
| Cover Page Interactive Data File (Embedded within the Inline XBRL document) |
(1) Filed with the SEC on February 5, 2024 as an exhibit to the Company’s Registration Statement on Form 10-12G
(2) Filed with the SEC on August 16, 2024 as an exhibit to a Current Report on Form 8-K
(3) Filed with the SEC on February 25, 2026 as an exhibit to a Current Report on Form 8-K
* Filed herewith
| 19 |
| Table of Contents |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized.
Catalyst Crew Technologies Corp.
Date: April 15, 2026
| By: | /s/ Kevin Rodan Levy | |
Name: | Kevin Rodan Levy | |
| Title: | Chief Executive Officer |
Pursuant to the requirements of the Securities Exchange Act of 1934, this Annual Report on Form 10-K has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
Date: April 15, 2026 | By: | /s/ Kevin Rodan Levy |
|
| Name: | Kevin Rodan Levy |
|
| Title: | Chief Executive Officer |
|
|
| (Principal Executive Officer) |
|
Date: April 15, 2026 | By: | /s/ Carlos Pena |
|
| Name: | Carlos Pena |
|
| Title: | Chief Financial Officer |
|
|
| (Principal Financial Officer) |
|
| 20 |
| Table of Contents |
Catalyst Crew Technologies Corp.
Index to Financial Statements
|
| Pages |
|
|
|
|
|
Report of Independent Registered Public Accounting Firm |
| F-1 |
|
|
|
|
|
Financial Statements: |
|
|
|
|
|
|
|
Balance Sheets as of December 31, 2025 and 2024 |
| F-2 |
|
|
|
|
|
Statements of Operations for the years ended December 31, 2025 and 2024 |
| F-3 |
|
|
|
|
|
Statement of Changes in Stockholders’ Equity for the years ended December 31, 2025 and 2024 |
| F-4 |
|
|
|
|
|
Statements of Cash Flow for the years ended December 31, 2025 and 2024 |
| F-5 |
|
|
|
|
|
Notes to Financial Statements |
| F-6 |
|
| 21 |
| Table of Contents |

Report of Independent Registered Public Accounting Firm
To the shareholders and the board of directors of Catalyst Crew Technologies, Corp.
Opinion on the Financial Statements
We have audited the accompanying balance sheets of Catalyst Crew Technologies, Corp as of December 31, 2025 and 2024, the related statements of operations, stockholders' deficit, and cash flows for the years then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States.
Substantial Doubt about the Company’s Ability to Continue as a Going Concern
The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the financial statements, the Company has suffered recurring losses from operations and has a significant accumulated deficit. In addition, the Company continues to experience negative cash flows from operations. These factors raise substantial doubt about the Company's ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Basis for Opinion
These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audit. 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 the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion.
Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.
Critical Audit Matters
The critical audit matters communicated below are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.
No matters identified in the audit were considered to be critical audit matters.
/S/
Beckles & Co. Inc. (PCAOB ID
We have served as the Company's auditor since 2024
April 15, 2026
400 Columbia Drive, Suite 101
West Palm Beach, FL 33409
Ph.561 689-4093
Fax: 954 827-0968
| F-1 |
| Table of Contents |
Catalyst Crew Technologies Corp.
(FKA BLUE CHIP TECHNOLOGIES CORP. )
BALANCE SHEETS
(Aaudited)
|
| December 31, 2025 |
|
| December 31, 2024 |
| ||
ASSETS |
|
|
|
|
|
| ||
Current assets |
|
|
|
|
|
| ||
Cash |
| $ |
|
| $ |
| ||
Total current assets |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
Total assets |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' DEFICIT |
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
|
|
|
|
| ||
Notes payable - related party |
|
|
|
|
|
| ||
Notes payable |
|
|
|
|
|
| ||
Convertible notes payable |
|
|
|
|
|
| ||
Total current liabilities |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
Stockholders' deficit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Preferred stock, $ |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
| |
Series A Preferred stock, $ |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
| |
Series B Preferred stock, $ |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
| |
Common stock, $ |
|
|
|
|
|
| ||
Additional paid in capital |
|
|
|
|
|
| ||
Accumulated deficit |
|
| ( | ) |
|
| ( | ) |
Total stockholders' deficit |
|
| ( | ) |
|
| ( | ) |
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders' deficit |
| $ |
|
| $ |
| ||
See accompanying notes to the consolidated financial statements
| F-2 |
| Table of Contents |
Catalyst Crew Technologies Corp.
(FKA BLUE CHIP TECHNOLOGIES CORP. )
STATEMENTS OF OPERATIONS
(Audited)
|
| For the year ended |
| |||||
|
| December 31, 2025 |
|
| December 31, 2024 |
| ||
|
|
|
|
|
|
| ||
Revenue |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Operating expenses |
|
|
|
|
|
|
|
|
General and administrative |
|
|
|
|
|
| ||
Professional fees |
|
|
|
|
|
| ||
Total operating expenses |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
Loss from operations |
|
| ( | ) |
|
| ( | ) |
|
|
|
|
|
|
|
|
|
Other income (expenses) |
|
|
|
|
|
|
|
|
Gain on settlement of debt |
|
|
|
|
|
| ||
Interest expense |
|
| ( | ) |
|
| ( | ) |
Total other expenses |
|
| ( | ) |
|
|
| |
|
|
|
|
|
|
|
|
|
Net loss before tax provision |
|
| ( | ) |
|
| ( | ) |
Tax provision |
|
|
|
|
|
| ||
Net loss |
| $ | ( | ) |
| $ | ( | ) |
|
|
|
|
|
|
|
|
|
Net loss per common share - basic and diluted |
| $ | ( | ) |
| $ | ( | ) |
|
|
|
|
|
|
|
|
|
Weighted average number of common shares outstanding - basic and diluted |
|
|
|
|
|
| ||
See accompanying notes to the consolidated financial statements
| F-3 |
| Table of Contents |
Catalyst Crew Technologies Corp.
(FKA BLUE CHIP TECHNOLOGIES CORP. )
STATEMENTS OF STOCKHOLDERS' DEFICIT
(Audited)
|
|
|
|
|
|
|
| Additional |
|
|
|
|
| Total |
| |||||
|
| Common Stock |
|
| Paid-in |
|
| Accumulated |
|
| Stockholders' |
| ||||||||
|
| Shares |
|
| Amount |
|
| Capital |
|
| Deficit |
|
| Deficit |
| |||||
Balance, December 31, 2023 |
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||
Stock issued for services |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Stock issued for settlement of debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net loss |
|
| - |
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | ||
Balance, December 31, 2024 |
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||
Shares issued for cash |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||||
Net loss |
|
| - |
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | ||
Balance, December 31, 2025 |
|
|
|
|
|
|
|
|
|
|
| ( | ) |
|
| ( | ) | |||
See accompanying notes to the consolidated financial statements
| F-4 |
| Table of Contents |
Catalyst Crew Technologies Corp.
(FKA BLUE CHIP TECHNOLOGIES CORP. )
STATEMENTS OF CASH FLOWS
(Audited)
|
| For the year ended |
| |||||
|
| December 31, 2025 |
|
| December 31, 2024 |
| ||
Cash Flows from Operating Activities |
|
|
|
|
|
| ||
Net loss |
| $ | ( | ) |
| $ | ( | ) |
Shares issued for services |
|
|
|
|
|
| ||
Loss on acquisition of assets |
|
|
|
|
| ( | ) | |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
Changes in assets and liabilities |
|
|
|
|
|
|
|
|
Accounts payable and accrued liabilities |
|
|
|
|
|
| ||
Net cash used in continuing operating activities |
|
| ( | ) |
|
| ( | ) |
|
|
|
|
|
|
|
|
|
Cash Flows from Financing Activities: |
|
|
|
|
|
|
|
|
Proceed from the sale of common stock |
|
|
|
|
|
|
| |
Proceeds from notes payable |
|
|
|
|
|
| ||
Net cash provided by financing activities |
|
|
|
|
|
| ||
|
|
|
|
|
|
|
|
|
Net decrease in cash |
|
|
|
|
|
| ||
Cash, beginning of period |
|
|
|
|
|
| ||
Cash, end of period |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
Supplemental disclosure of cash flow information |
|
|
|
|
|
|
|
|
Cash paid for interest |
| $ |
|
| $ |
| ||
Cash paid for taxes |
| $ |
|
| $ |
| ||
|
|
|
|
|
|
|
|
|
SUPPLEMENTARY DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares issued to settle debt |
| $ |
|
| $ |
| ||
See accompanying notes to the consolidated financial statements
| F-5 |
| Table of Contents |
Catalyst Crew Technologies Corp.
(FKA BLUE CHIP TECHNOLOGIES CORP.)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
DECEMBER 31, 2025
NOTE 1 – NATURE OF BUSINESS AND OPERATIONS
Organization
Catalyst Crew Technologies Corp. (Blue Chip Technologies Corp.) (the “Company or “CBBB”) was incorporated in the State of Nevada on September 11, 2008. At that time the primary business of the Company was to act as a global broker for business and private jets by connecting travelers (corporations, institutions and wealthy private individuals) with executive aircraft that are independently owned and operated by third party companies or individuals. On February 5, 2015, the Company changed its name to better reflect its anticipated new business direction. The Company had received approval of its Federal Permit to distribute alcoholic beverages, which would be accomplished, through its subsidiaries, Continental Beverage Inventory and Warehousing Ltd., and promotional activities through Continental Beverage Marketing and Promotion Inc. In early 2016, the Company abandoned its activities and ceased to operate.
On March 20, 2023, the “Company entered into an Asset Purchase Agreement by and among the Company, on the one hand and JT Technologies LLC (“JTLLC”) and Nitish Sharma, an individual and the sole managing member of JTLLC, on the other hand whereby the Company acquired various big data analytics related assets from the Seller for use in the gaming and gambling industry to analyze player behavior and fraud protection, among other similar information. Collectively, al intellectual property, proprietary and non-proprietary technology, know-how, and all other assets of the seller that maybe, directly, or indirectly, applied to big data analytics in the gaming and gaming industry are referred to hereinafter as the “Acquired Assets”. In exchange for the Acquired Assets, the Company issued
On May 26, 2023, the Company changed its name to Blue Chip Technologies Corporation.
On September 18, 2023, the Company received notice of resignation from Mr. Andrew Gaudet from the positions of President, Chief Executive Officer, Treasurer, Chief Financial Officer, and Secretary. Mr. Gaudet retained his position as a member of the Company’s Board of Directors.
Effective the same day, the Company entered into an Executive Employment with Gurneet Kaur whereby Ms. Kaur agreed to serve as the Company’s Chief Executive Officer, President, Chief Financial Officer, Treasurer, Secretary, and as Chairman of the Company’s Board of Directors. On the same day, and pursuant to a Stock Purchase Agreement, Ms. Kaur acquired
On June 5, 2024, Ms. Kaur sold, by way of Stock Purchase Agreement (the “SPA”),
Additionally, on June 7, 2024, the Company received notice of resignation from Ms. Kaur from the positions of President, Chief Executive Officer, Treasurer, Chief Financial Officer, Secretary and Director of the Company. Ms. Kaur’s resignation was not the result of any disagreements between Ms. Kaur and the Company relating to the Company’s operations, policies, or practices.
Effective immediately upon the resignation of Ms. Kaur, the Company’s Board of Directors appointed Mr. Nakhwa to serve as President, Chief Executive Officer, Treasurer, Chief Financial Officer, Secretary and Chairman of the Board of Directors to serve until the next annual meeting of the Company or until his respective successor is duly appointed. Mr. Nakhwa accepted all such appointments, effective as of June 7, 2024.
| F-6 |
| Table of Contents |
On June 9, 2024, the Company entered into an Asset Transfer Agreement with Mr. Nakhwa pursuant to which Mr. Nakhwa assigned to the Company all of Mr. Nakhwa’s interest in Facial Recognition Technology (FRT) solutions and intellectual property associated therewith in exchange for $
On June 11, 2024, as a result of this change in management, the Company’s Board of Directors voted to (i) cease all prior operations of the Company involving big data analytics software for use in the gaming and financial technology industries, (ii) relinquish and disavow any and all interest in existing subsidiaries as of June 11, 2024 and (iii) amend the Company’s Articles of Incorporation to change the name of the Company to “Catalyst Crew Technologies Corp.” to more accurately reflect the Company’s new business direction. The Company will endeavor to affect the name change in near future or at such time management deems the name change appropriate. In the interim period until we affect this proposed name change, we will be operating as “Catalyst Crew Technologies.
On July 1, 2024, the Company’s Board of Directors approved a Change to its Articles of Incorporation, as amended, with the Secretary of Nevada to change the Company’s corporate name to “Catalyst Crew Technologies Corp.”
BASIS OF PRESENTATION
The accompanying consolidated financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States. Management is of the opinion that all necessary adjustments have been made to make these interim consolidated financial statements not misleading.
NOTE 2 – GOING CONCERN
The accompanying financial statements have been prepared in US dollars and in accordance with accounting principles generally accepted in the United States (“GAAP”) on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. During the year ended December 31, 2025, the Company incurred net losses of $
We are entirely dependent on our ability to attract and receive funding from either the sale of securities or outside sources such as private investment or a strategic partner. We currently have no firm agreements or arrangements with respect to any such financing and there can be no assurance that any needed funds will be available to us on acceptable terms or at all. The inability to obtain sufficient funding of our operations in the future will restrict our ability to grow and reduce our ability to continue to conduct business operations. Our failure to raise additional funds will adversely affect our business, and may require us to suspend our operations, which in turn may result in a loss to the purchasers of our common stock. If we are unable to obtain necessary financing, we will likely be required to curtail our development plans. Any additional equity financing may involve substantial dilution to our then existing stockholders.
NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Use of Estimates
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 revenue and expenses during the reporting period. Actual results could differ significantly from those estimates.
Cash and Cash Equivalents
For purposes of the statement of cash flows, the Company considers all highly liquid debt instruments purchased with a maturity of three months or less to be cash equivalents to the extent the funds are not being held for investment purposes.
| F-7 |
| Table of Contents |
Intangible assets
The Company follows Financial Accounting Standard Board’s (FASB) Codification Topic 350-10 (“ASC 350-10”), “Intangibles – Goodwill and Other”. According to this statement, intangible assets with indefinite lives are no longer subject to amortization, but rather an annual assessment of impairment by applying a fair-value based test. Under ASC 350-10, the carrying value of assets are calculated at the lowest level for which there are identifiable cash flows.
Stock-based compensation
The Company follows the guidelines in FASB Codification Topic ASC 718-10 “Compensation-Stock Compensation”, which requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors including employee stock options and employee stock purchases related to an Employee Stock Purchase Plan based on the estimated fair values.
Concentration of Credit Risk
The Company has no off-balance-sheet concentrations of credit risk such as foreign exchange contracts, options contracts or other foreign hedging arrangements. The Company maintains all of its cash balances with two financial institutions in the form of demand deposits.
Income Taxes
The Company’s calculation of its tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in various taxing jurisdictions. The Company recognizes tax liabilities for uncertain tax positions based on management’s estimate of whether it is more likely than not that additional taxes will be required. The Company had no uncertain tax positions as of December 31, 2025 and 2024.
Deferred income taxes are recognized in the consolidated financial statements for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts based on enacted tax laws and statutory tax rates. Temporary differences arise from net operating losses, differences in depreciation methods of archived images, and property and equipment, stock-based and other compensation, and other accrued expenses. A valuation allowance is established when it is determined that it is more likely than not that some or all of the deferred tax assets will not be realized.
The application of tax laws and regulations is subject to legal and factual interpretation, judgment and uncertainty. Tax laws and regulations themselves are subject to change as a result of changes in fiscal policy, changes in legislation, the evolution of regulations and court rulings. Therefore, the actual liability for U.S., or the various state jurisdictions, may be materially different from management’s estimates, which could result in the need to record additional tax liabilities or potentially reverse previously recorded tax liabilities. Interest and penalties are included in tax expense.
The Company includes interest and penalties arising from the underpayment of income taxes in the statements of operation in the provision for income taxes. As of December 31, 2025 and 2024, the Company had no accrued interest or penalties related to uncertain tax positions.
Earnings per share
The Company follows ASC Topic 260 to account for the earnings per share. Basic earnings per common share (“EPS”) calculations are determined by dividing net income by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per common share calculations are determined by dividing net income by the weighted average number of common shares and dilutive common share equivalents outstanding. During periods when common stock equivalents, if any, are anti-dilutive they are not considered in the computation.
Revenue Recognition
The Company recognizes revenue from its contracts with customers in accordance with ASC 606 – Revenue from Contracts with Customers. The Company recognizes revenues when satisfying the performance obligation of the associated contract that reflects the consideration expected to be received based on the terms of the contract.
Revenue related to contracts with customers is evaluated utilizing the following steps: (i) Identify the contract, or contracts, with a customer; (ii) Identify the performance obligations in the contract; (iii) Determine the transaction price; (iv) Allocate the transaction price to the performance obligations in the contract; (v) Recognize revenue when the Company satisfies a performance obligation.
| F-8 |
| Table of Contents |
Fair Value of Financial Instruments
The Company measures fair value in accordance with ASC 820 - Fair Value Measurements. ASC 820 defines fair value and establishes a three-level valuation hierarchy for disclosures of fair value measurements. ASC 820 establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements. To increase consistency and comparability in fair value measurements and related disclosures, ASC 820 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three (3) broad levels. The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The three (3) levels of fair value hierarchy defined by ASC 820 are:
Level 1 - Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
Level 2 - Inputs (other than quoted market prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.
Level 3 - Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Valuation of instruments includes unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.
As defined by ASC 820, the fair value of a financial instrument is the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale, which was further clarified as the price that would be received to sell an asset or paid to transfer a liability (“an exit price”) in an orderly transaction between market participants at the measurement date
The reported fair values for financial instruments that use Level 2 and Level 3 inputs to determine fair value are based on a variety of factors and assumptions. Accordingly, certain fair values may not represent actual values of the Company’s financial instruments that could have been realized as of December 31, 2025 and 2024 or that will be recognized in the future, and do not include expenses that could be incurred in an actual settlement. The carrying amounts of the Company’s financial assets and liabilities, such as cash, accounts receivable, receivables from related parties, prepaid expenses and other, accounts payable, accrued liabilities, and related party and third-party notes payables approximate fair value due to their relatively short maturities. The Company’s notes payable approximates the fair value of such instrument based upon management’s best estimate of terms that would be available to the Company for similar financial arrangements on December 31, 2025 and 2024.
Recent Accounting Pronouncements
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this ASU require disclosures, on an annual and interim basis, of significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), as well as the aggregate amount of other segment items included in the reported measure of segment profit or loss. This ASU requires that a public entity disclose the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and deciding how to allocate resources. This ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, with early adoption permitted. The amendments in this ASU should be applied retrospectively to all prior periods presented in the financial statements. The Company adopted the ASU and determined that its adoption did not have a material impact on the Company’s consolidated financial statements and related disclosures. As defined in the ASU, operating segments are components of an enterprise about which discrete financial information is regularly provided to the CODM in making decisions on how to allocate resources and assess performance for the organization. The Company operates and manages its business as one reportable and operating segment. The Company’s CODM is the Chief Executive Officer. The Company’s CODM reviews consolidated operating results to make decisions about allocating resources and assessing performance for the entire Company.
The Company does not believe that other standards, which have been issued but are not yet effective, will have a significant impact on its financial statements.
| F-9 |
| Table of Contents |
NOTE 4 – NOTES PAYABLE
Promissory notes payable as of December 31, 2025 and 2024 consists of the following:
December 31, 2025 |
|
| December 31, 2024 |
| ||
| $ |
|
| $ |
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
|
| |
|
|
|
|
|
| |
| $ |
|
| $ |
| ||
| F-10 |
| Table of Contents |
During the year ended December 31, 2025, the Company has issued various promissory notes amounting to $
During the years ended December 31, 2025 and 2024, the Company recorded interest expense of $
NOTE 5 – CONVERTIBLE NOTES PAYABLE
Convertible notes payable as of December 31, 2025 and 2024 consists of the following:
December 31, 2025 |
|
| December 31, 2024 |
| ||
| $ |
|
| $ |
| ||
|
|
|
|
| ||
|
|
|
|
| ||
|
|
|
|
| ||
| $ |
|
| $ |
| ||
On November 15, 2024, the Company issued
During the year ended December 31, 2025 and 2024, the Company recorded interest expense of $
NOTE 6 – RELATED PARTY TRANSACTIONS
As of December 31, 2025 and 2024, the Company had notes due to the shareholder of $
During the year ended December 31, 2025 and 2024, the Company recorded interest expense of
NOTE 7 – COMMITMENTS AND CONTINGENCIES
From time to time, the Company may become involved in various lawsuits and legal proceedings, which arise in the ordinary course of business. Litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm business. Management is currently not aware of any such legal proceedings or claims that could have, individually or in the aggregate, a material adverse effect on our business, financial condition, or operating results.
| F-11 |
| Table of Contents |
NOTE 8 – INCOME TAXES
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company recorded the valuation allowance due to the uncertainty of future realization of federal and state net operating loss carryforwards. The deferred income tax assets are comprised of the following on December 31, 2025 and 2024:
|
| 2025 |
|
| 2024 |
| ||
Deferred income tax assets: |
| $ |
|
| $ |
| ||
Valuation allowance |
|
| ( | ) |
|
| ( | ) |
Net deferred tax asset |
| $ |
|
| $ |
| ||
Reconciliation between the statutory rate and the effective tax rate is as follows on December 31, 2025 and 2024:
|
| 2025 |
|
| 2024 |
| ||
Effective Tax Rate Reconciliation: |
|
|
|
|
|
| ||
Federal statutory tax rate |
|
| % |
|
| % | ||
State taxes, net of federal benefit |
|
| % |
|
| % | ||
Change in valuation allowance |
|
| ( | )% |
|
| ( | )% |
Effective tax rate |
|
| % |
|
| % | ||
As of December 31, 2025, the Company had net operating loss carryforwards of approximately $
The Company recognizes interest and penalties related to uncertain tax positions in general and administrative expense. As of December 31, 2025 and 2024 the Company has no unrecognized uncertain tax positions, including interest and penalties.
| F-12 |
| Table of Contents |
NOTE 9 – STOCKHOLDERS’ EQUITY
As of December 31, 2025 and 2024, the Company had
On July 1, 2024, the Company’s Board of Directors approved a
On October 12, 2023, the Board of Directors authorize an amendment to the articles of Incorporation to specifically increase the authorized shares to One Billion (
The Series A Preferred Stock shall rank senior to all Common Stock and any other class of securities that is specifically designated as junior to the Series A Preferred Stock however, does not have the right to vote. The Series A Preferred Stock is entitled to receive dividends from the Issuance Date thereof at the annual rate of three percent (
Series B Preferred Stock shall rank senior to all Common Stock and pari passu to the Series A Preferred Stock. Each share of Series B Preferred Stock shall be convertible at the option of the Holder thereof at any time, and from time to time, from and after the One (1) Year anniversary of the Issuance Date, into a number of shares of Common Stock determined by dividing (i) the total number of Series B Preferred Shares being converted by (ii) the Conversion Price The conversion price for the Series B Preferred Stock (the “Conversion Price”) shall be equal to $
Following the expiration of the Hold Period, the Corporation shall issue to the Holders bonus shares of the Corporation’s Common Stock in such amount to be the number of Series B Preferred held by each Holder by (ii)”). The Board of Directors shall have the authority, in its discretion, to grant the Bonus Shares to the Holders. Each Bonus Share shall constitute a transfer of a restricted Common Share to the Holder, without other payment therefor, as a bonus to the Holder.
During the year ended December 31, 2025, the Company issued
NOTE 10 – SUBSEQUENT EVENTS
On February 17, 2026, the Company entered into an Asset Purchase Agreement pursuant to which the Company acquired certain assets relating to (i) an artificial intelligence-enabled healthcare analytics platform and (ii) a technology-enabled healthcare services coordination platform. In consideration for the Acquired Assets, the Company issued
The issuance of the
· Andrew Gaudet resigned as Director and Chief Operating Officer;
· Waqas Nakhwa resigned as Chairman, Chief Executive Officer, Chief Financial Officer, President, Secretary, and Director;
· Navneet B. Tayal resigned as Director; and
· Vineet Jawa resigned as Director.
Effective February 17, 2026, Kevin Rodan Levy was appointed as Sole Director of the Company; Chief Executive Officer; President; Chief Financial Officer; Secretary; and Treasurer.
| F-13 |