Legend Spices, Inc. (LGSP), a Nevada corporation now operating as a shell company, filed its quarterly report for the six months ended June 30, 2026. The company has no assets, no revenue in 2026, and has discontinued its former seasoning and spice operations in Armenia.
For the quarter, LGSP recorded a net loss of $4,350, and for the six months a net loss of $4,950, compared with a six‑month loss of $8,861 in 2025. Expenses consist solely of professional fees related to corporate maintenance and regulatory filings.
At June 30, 2026, current and total liabilities were $22,475, including $19,475 due to related party Qihui Wang, and there was a working capital deficit of $22,475. Stockholders’ deficit was $22,475, with an accumulated deficit of $132,962. There were 6,850,000 common shares outstanding. Management discloses substantial doubt about the company’s ability to continue as a going concern and reports a material weakness in internal control over financial reporting due to inadequate accounting staffing. The company is exploring new business opportunities but has not identified a new operating business.
LEGEND SPICES, INC. (LGSP) reports as a shell company with no active operations or assets for the quarter ended March 31, 2026. The company generated no revenue and recorded a net loss of $600, compared with a $3,561 loss in the prior-year quarter.
Total assets were $0, while current and total liabilities were $18,125, resulting in a working capital deficit of $18,125 and a stockholders’ deficit of the same amount. Accumulated deficit reached $128,612 since inception. A related-party payable of $15,725 is owed to Chair and CEO Qihui Wang. Management states these conditions raise substantial doubt about the company’s ability to continue as a going concern and plans to seek capital through an offering of common shares.
The company has 6,850,000 common shares issued and outstanding and is currently evaluating new business opportunities after discontinuing its former Armenia-based seasoning operations. Management also identifies a material weakness in internal control over financial reporting due to inadequate staffing and lack of segregation of duties.
Legend Spices Inc. (LGSP), a Nevada corporation, filed an amended annual report mainly to include a re-dated auditor’s report and consent; the underlying 2025 results are unchanged. The company has ceased its seasoning production and marketing operations in Armenia and now describes itself as a shell company that is exploring new business opportunities and potential acquisitions, with no new operating business identified.
For the year ended December 31, 2025, Legend Spices generated $644 of revenue and recorded a net loss of $18,787, bringing its accumulated deficit since inception to $128,012. At year-end it reported no assets, no cash, and current liabilities of $17,525, resulting in a working-capital and shareholders’ deficit of the same amount. A related party forgave $69,717 of debt, recorded as additional paid-in capital. The independent auditor issued an unqualified opinion with an emphasis on substantial doubt about the company’s ability to continue as a going concern.
The report highlights that operations have been suspended since February 2025, there are no employees, and management estimates it needs approximately $100,000 over the next 12 months to fund planned activities. The company is an emerging growth and smaller reporting company, has identified a material weakness in internal control over financial reporting due to inadequate staffing and segregation of duties, and notes that there is currently no active trading market for its common stock, which would likely qualify as a penny stock if quoted.
Legend Spices Inc. (LGSP), a Nevada corporation, filed its annual report for the year ended December 31, 2025. The company has ceased its seasoning production business in Armenia, has generated only $644 in revenue for 2025 and is currently operating as a shell company while it explores new business opportunities and potential acquisitions, with no new operating business identified to date.
The company reported a net loss of $18,787 for 2025 and an accumulated deficit of $128,012 since inception. As of year-end it had $0 cash, no current assets, current liabilities of $17,525, and a corresponding working capital deficit of $17,525. A related party forgave $69,717 of debt, recorded as additional paid-in capital, but auditors and management both state there is substantial doubt about the company’s ability to continue as a going concern.
On March 29, 2025, control shifted from founder Khachatur Mkrtchyan to Qihui Wang and investors; Ms. Wang now serves as sole director and all principal officers. The report highlights material weaknesses in internal control over financial reporting, absence of staff, reliance on related-party funding, lack of an active trading market, penny-stock risks, and potential dilution given authorization for up to 500,000,000 common shares versus 6,850,000 currently outstanding.