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Mag Mile Capital, Inc. obtained written consent from a stockholder holding approximately 87% of the voting power to approve a new 2026 Stock Incentive Plan, in lieu of a special meeting. The action is expected to become effective on August 17, 2026, after mailing this information statement to stockholders of record as of July 23, 2026.
The Plan authorizes awards covering up to 20,000,000 shares of common stock, including incentive and non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other stock-based awards for employees, officers, directors and consultants. As of this notice, 100,055,935 shares of common stock are outstanding and no preferred shares are outstanding. Under change in control scenarios where awards are not assumed, the Plan provides for accelerated vesting or payout of most awards. Stockholders do not have appraisal rights in connection with this action.
Mag Mile Capital, Inc. obtained stockholder approval by written consent for a new 2026 Stock Incentive Plan. On July 8, 2026, the Board and a controlling stockholder holding approximately 87% of the voting power approved the plan in lieu of a special meeting, relying on Section 228 of the Delaware General Corporation Law. The action will become effective after a 20‑day information period, expected on or after August __, 2026.
The plan authorizes issuance of up to 20,000,000 shares of common stock for equity awards, including incentive and non‑qualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards and other stock‑based awards. As of the record date, there were 100,055,935 common shares outstanding and no preferred stock outstanding; President and CEO Rushi Shah beneficially owns 87,424,424 shares and is the sole director. The company states there are no appraisal rights associated with this action and describes standard tax and administrative provisions for the plan.
Mag Mile Capital, Inc. reported strong improvement for the quarter ended March 31, 2026. Revenue rose to $2,382,375 from $780,500 a year earlier, mainly from large commercial real estate financing deals, including a $79.5 million hotel refinance that generated $1,390,000 of gross revenue.
Gross profit increased to $698,293, and net income climbed to $301,433, compared with $9,714 in the prior-year quarter. Cash was $644,116 and working capital was $169,103, giving the company some operating flexibility, although it remains reliant at times on related-party financing.
Total assets were $976,630 and total liabilities $965,530, leaving positive stockholders’ equity of $11,100 versus a deficit at year-end 2025. Despite current profitability, management states that recurring profits are recent and financing support from related parties may still be needed, leading to “substantial doubt” about the company’s ability to continue as a going concern.
Mag Mile Capital, Inc. reports strong top-line growth but remains unprofitable and faces going concern risks. Revenue from commission income for the year ended December 31, 2025 rose to $4,062,250 from $2,051,443, a 98% increase driven by large refinance and CMBS transactions.
Gross margin more than doubled to $1,383,239, yet the company still posted a net loss of $123,755, though this improved from a $283,346 loss in 2024. Cash at year-end was $513,777 with a working capital deficit of $144,294 and an accumulated deficit of $3,095,569.
The auditor and management highlight substantial doubt about the company’s ability to continue as a going concern due to recurring losses and a weak balance sheet. Operations are highly concentrated around CEO Rushi Shah, who controls about 87% of outstanding shares, receives significant related-party commissions and provides loans and office space to the company.
Mag Mile Capital operates as a commercial real estate mortgage banking firm using its CapLogiq software platform and reported hosting an extensive 2025 marketing event in Lisbon that supported major deal flow. Management also discloses material weaknesses in internal control over financial reporting, including limited accounting staff, lack of an audit committee and incomplete control documentation.
Mag Mile Capital (MMCP) reported Q3 results showing modest top-line growth but continued losses. Revenue was $324,600 (up from $254,550), and gross profit was $136,676 versus a negative gross margin a year ago, as commission expense fell. Operating costs rose sharply to $581,547, leading to a net loss of $447,064 (vs. $450,515). For the first nine months, revenue was $1,811,975, gross profit $685,830, and net loss $502,934.
Liquidity remains tight with cash of $58,677 and a working capital deficit of $568,210; stockholders’ equity was a deficit of $669,512. Management disclosed substantial doubt about continuing as a going concern and noted material weaknesses in internal control, including inadequate segregation of duties and limited accounting expertise. Related-party financing supported operations, including a $200,000 short-term loan repaid after quarter-end. Subsequent to quarter-end, the company closed a $59 million refinance and a $14.5 million transaction with HKB Hotels, generating $1.045 million of gross revenue.