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First America Resources Corporation, an electronic waste management and IT asset disposition provider, reported strong improvement for the quarter and six months ended June 30, 2026. Quarterly revenue was $5,788,731, up from $4,822,842, and six-month revenue reached $10,590,029 versus $8,847,835, a 20% increase driven by continued growth.
Gross margin improved to 56% for the quarter and 59% for the six months, compared with 51% and 54% in the prior-year periods. Income from operations turned positive to $544,987 for the quarter and $872,833 year-to-date, leading to net income of $780,241 for the six months. Operating cash flow was positive at $348,747, and cash grew to $524,504.
The balance sheet remains leveraged, with total liabilities of $9,457,044 exceeding assets of $8,649,358, resulting in a stockholders’ deficit of $(807,686). The company has significant related-party exposure through major customers, vendors, and noteholders, but management’s projections and shareholder support led to a conclusion that prior substantial doubt about going concern has been alleviated through at least August 15, 2027.
First America Resources Corporation, an electronic waste management and IT asset disposition company, reported stronger operating results for the three months ended March 31, 2026. Revenue rose to $4.80 million from $4.03 million a year earlier, a 19% increase, and gross margin improved from 56% to 63%, lifting income from operations to $0.33 million from $0.05 million.
Net income was $0.30 million, down from $0.38 million due to a prior-year $0.35 million non-recurring employee retention credit in other income. Cash generated from operations improved significantly to $0.40 million versus $0.36 million used in the prior-year period, increasing cash on hand to $0.63 million from $0.28 million at December 31, 2025.
The balance sheet shows total assets of $9.0 million and total liabilities of $10.29 million, leaving a stockholders’ deficit of $1.29 million, though this narrowed from $1.59 million at year-end. The company has notable related-party exposure, with First America Metal Corp. accounting for 21% of Q1 2026 revenue and 33% of accounts receivable, and also 53% of accounts payable. Management expects revenues, operating expenses, interest expense and investment spending to grow as operations expand and notes it may need additional debt or equity financing to fund this growth.
First America Resources Corporation (FSTJ) reported 2025 revenue of $18.8 million, up from $16.2 million in 2024, driven by growth in electronics recycling, IT asset disposition, and data center and AI infrastructure decommissioning services.
Despite higher gross profit of $10.3 million, operating expenses rose 19.6% to $10.5 million, flipping operating income of $296,269 in 2024 to an operating loss of $186,808 in 2025. Net income fell sharply to $2,765, largely sustained by a one-time $346,000 Employee Retention Credit recorded in other income.
The company ended 2025 with $276,855 in cash, $2.1 million of notes payable, and lease liabilities with a present value of $2.33 million, while carrying an accumulated deficit of $3.21 million and a stockholders’ deficit of $1.59 million. Operations are concentrated in related-party relationships with First America Metal Corp. and First American Management Group Corp., which are major shareholders, lenders, vendor, and customer. Management reports material weaknesses in internal control over financial reporting, including an ineffective control environment and lack of segregation of duties.
First America Resources Corporation (FSTJ) reported solid growth for the quarter ended September 30, 2025. Revenue for the quarter rose to $5,470,273 from $4,582,419 a year earlier, an increase of about 19%, while gross margin eased slightly to 54% from 57% as freight and material processing costs grew. Operating expenses increased to $2,689,090, driven by higher payroll, general and administrative costs, rent, and merger-related professional fees, resulting in operating income of $247,537 versus $404,775 in the prior-year quarter.
For the nine months ended September 30, 2025, revenue grew to $14,318,108 from $12,437,307, and net income was $501,013 compared to $510,448 a year earlier, supported in part by a $346,000 Employee Retention Credit recorded in other income. The balance sheet shows total assets of $6,648,090 and total liabilities of $7,516,075, leaving a stockholders’ deficit of $867,985, with 87,964,090 common shares issued and outstanding. Management notes the business is expanding and may need additional debt or equity financing to fund operations.
First America Resources Corporation filed a Form 12b-25 to notify regulators and investors that its Form 10-Q will be filed late. The company states it was prepared to file the report on November 13, 2025, but a third-party service provider did not provide confirmation of shares issued and outstanding in time. That confirmation arrived at the close of business on November 14, 2025, which the company says prevented it from meeting the original filing deadline. The notice indicates an administrative timing issue rather than describing any operational or financial problems.
First America Resources Corp (FSTJ) reported limited quarterly filing details showing 500,000,000 authorized common shares and 87,964,090 shares issued and outstanding as of June 30, 2025 and December 31, 2024. The filing lists property and maintenance amounts including $86,117 in equipment and $28,004 in repair costs, and references amounts of $556,000, $657,000, and $157,000 without contextual explanation. Contact and registration identifiers appear in the header but substantive narrative, revenue, profitability, or balance-sheet totals are not provided in the supplied content.