Quarta-Rad, Inc. reported a net loss of $104,178 for the three months ended March 31, 2026, wider than the $77,409 loss a year earlier, on net sales of $25,856. Revenue fell as the company continued winding down its legacy radiation detection products and focused on Sellavir’s AI-driven CenterEye call-center software.
Operating expenses rose to $101,147, largely from Sellavir-related costs and stock-based compensation of $18,553. Cash declined to $14,568, and working capital showed a deficit of $293,847. Management disclosed recurring losses and an accumulated deficit of about $532,500, concluding that these factors raise “substantial doubt” about Quarta-Rad’s ability to continue as a going concern.
Total assets were $366,779, including a related-party note receivable of $254,719 tied to Thai real estate, which generated a foreign currency loss of $10,053. The company relies heavily on related-party revenue and support, has no bank financing, and reported material weaknesses in internal control over financial reporting, including insufficient segregation of duties and limited technical accounting expertise.
Quarta-Rad, Inc. filed its annual report, showing a small AI software company in transition but still under severe financial strain. 2025 revenue rose to $244,955 from $106,797, mainly from its Sellavir subsidiary, yet net loss widened to $256,929. The auditor issued a going concern warning as cash was only $72,909 and working capital showed a $216,617 deficit.
The legacy radiation detector business is being wound down, with strategy now focused on Sellavir’s CenterEye AI call-center platform and a new Independent Software Vendor Partner Agreement with Genesys Cloud. However, about 96% of 2025 revenue came from a single related-party customer, Star Systems Corporation, and management disclosed material weaknesses in internal control. Insiders control roughly 96% of the stock, leaving a very thin float and heightening volatility risk for public shareholders.
Quarta-Rad, Inc., through its subsidiary Sellavir Inc., has entered into an Independent Software Vendor (ISV) Partner Agreement with Genesys Cloud Services, Inc..
This agreement will make Sellavir a participant in the Genesys AppFoundry Program, which is intended to enable integration of Sellavir’s proprietary contact center technologies into the Genesys Cloud platform. The disclosure is furnished under Regulation FD and is described as forward-looking, with outcomes subject to various risks and uncertainties referenced in the company’s SEC filings.
Quarta-Rad, Inc. reported a governance change as its board appointed Dmitry Choulindin as a director, effective immediately on February 18, 2026. He has been the company’s Director of Operations since December 2016 and also works as an interpreter for several organizations.
The company disclosed that Choulindin is the half-brother of Chief Executive Officer Victor Shvetsky and stated there are no related party transactions requiring disclosure under Regulation S-K Item 404(a). His compensation terms for serving as a director have not yet been finalized.
Quarta-Rad, Inc. (QURT) reported Q3 2025 results. Net revenue was $62,469 and net loss was $66,641. The quarter was driven by Sellavir service revenue of $60,000, while the legacy Quarta-Rad hardware business contributed $2,469. Operating expenses rose to $94,747, including $55,656 of stock-based compensation.
For the nine months ended September 30, 2025, net revenue totaled $162,686 and net loss was $216,145. Segment results show Quarta-Rad revenue of $7,686 and Sellavir revenue of $155,000 for the period. Cash was $33,108 as of September 30, 2025, with a working capital deficit of $228,153. Stockholders’ equity was $109,110, and 15,899,483 shares were outstanding as of November 13, 2025.
Management disclosed substantial doubt about the company’s ability to continue as a going concern due to recurring losses and limited revenues. The company is shifting focus toward Sellavir’s AI-driven call center software, CenterEye, and disclosed related-party loans and revenues consistent with prior operations.