Hamco Ventures Ltd (HAMVF) reported $50,955 in service income for the year ended June 30, 2026, all from a related party, and a net loss of $82,698, compared with $97,643 a year earlier. Cash was $437,451 at June 30, 2026, and net cash used in operating activities was $60,517 during the year.
Its $89,171 AI rollout and implementation consulting agreement with Hamco Services had resulted in $50,955 invoiced; the remaining $38,216 relates to work in progress and is to be invoiced upon successful completion of remaining performance milestones. Chief Executive Officer and director Chun Leung Chow also serves as a Hamco Services director; shareholder Tao Li holds an 80.0% equity interest in that provider. Chow and Li recused themselves from board deliberations and abstained on the shareholder resolution; independent, disinterested shareholders approved the agreement. The auditor cited substantial doubt about Hamco Ventures’ ability to continue as a going concern, noting working capital was insufficient for planned activities one year from issuance. Management reported ineffective internal controls over financial reporting, citing two material weaknesses involving U.S. GAAP/SEC expertise and accounting policies. Remediation has begun, including hiring outside financial personnel.