Barrel Energy Inc 10-Q for FY2026 Q1

Barrel Energy Inc. (BRLL)

10-Q 2026-05-14 For: 2026-03-31

Added on May 14, 2026

About this 10-Q

Barrel Energy Inc filed this 10-Q on May 14, 2026, covering the quarter ended March 31, 2026 (FY2026 Q1).

Headline figures

Quarter ended March 31, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $42.4K; down 6.1% from $45.14K a year earlier
Net loss: $6183; compared with net income of $16.86K a year earlier
Diluted EPS: -$0.01; compared with $0.02 a year earlier

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Nevada		47-1963189
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

3859 S Valley View Blvd Ste 2 #107 Las Vegas, NV		89123
(Address of principal executive offices)		(Zip Code)

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
		Emerging Growth Company	☐

PART I – FINANCIAL INFORMATION

Item 1:	Financial Statements	2
	Balance Sheets as of March 31, 2026,(Unaudited) and December 31, 2025	3
	Statements of Operations and Comprehensive loss for the Three Months Ended March 31, 2026 and 2015 – (Unaudited)	4
	Statement of Shareholders Deficit for the Three Months Ended March 31, 2026 and 2015 (Unaudited)	5
	Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2015 (Unaudited)	6
	Notes to Financial Statements (Unaudited)	7
Item 2:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	11
Item 3:	Quantitative and Qualitative Disclosures about Market Risk	12
Item 4:	Controls and Procedures	12

PART II – OTHER INFORMATION

Item 1:	Legal Proceedings	13
Item 1A:	Risk Factors	13
Item 2:	Unregistered Sales of Securities and Use of Proceeds	13
Item 3:	Default upon Senior Securities	13
Item 4:	Mine Safety Information	13
Item 5:	Other information	13
Item 6:	Exhibits	13
	Signatures	14

	March 31, 2026			December 31, 2025
	Unaudited			Audited
ASSETS
Current assets:
Cash and cash equivalents	$	4,236		$	51,948
Accounts receivable- net of allowance		52,385			43,158
Advance- employee		300			300
Note receivable-related party		22,065			22,065
Total current assets		78,986			117,471
Fixed Assets		25,000

Total assets	$	103,986		$	117,471

LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Current liabilities:
Accounts payable and accrued expenses		59,350			66,653
Total current liabilities		59,350			66,653

Total liabilities		59,350			66,653

Commitment and Contingencies		-			-

Stockholders’ deficit:
Preferred stock, $0.001 par value, 5,000,000 authorized, 5,000,000 issued and outstanding		5,000			5,000
Common stock, $0.001 par value, 2,000,000,000 authorized, 1,008,595 issued and outstanding as of March 31, 2026 and December 31, 2025		1,009			1,009
Additional paid in capital		355,929			355,929
Accumulated deficit		(317,302	)		(311,120	)
Total stockholders’ deficit		44,636			50,818
	$	103,986		$	117,471
Total liabilities and stockholders ‘deficit

	Three Months
	2026			2025
Revenue	$	42,395		$	45,144
Cost of service		22,818			15,171
Gross profit		19,577			29,973

Operating expenses:
Insurance and Vehicle Expenses		9,034			4,697
Bad debt expense		7,213			1,600
General and administrative expense		9,513			6,817
Total expense		25,760			13,114

Net income(loss) before taxes		(6,183	)		16,859

Income tax		-			-

Net income (loss)	$	(6,183	)	$	16,859

Net loss per common share, Basic and Diluted	$	(0.01	)	$	0.02

Weighted average number of common shares outstanding, basic and diluted		1,008,595			1,008,595

	Preferred Shares				Common Stock				Paid-In		Accumulated			Stock			Shareholder
	Shares		Amount		Shares		Amount		Capital		Deficit			Receivable			Deficit
Balance at December 31, 2024		5,000,000		5,000		383,437,825		383,438		-		(352,979	)		(40,000	)		(4,541	)
Net income (loss)		-		-		-		-		-		16,859			-			16,859
Balance at March 31, 2025		5,000,000		5,000		383,437,825		383,438		-		(336,120	)		(40,000	)		12,318

Balance at December 31, 2025		5,000,000		5,000		1,009,595		1,009		355,929		(311,120	)		-			50,818
Net income (loss)		-		-		-		-		-		(6,183	)		-			(6,183	)
Balance at March 31, 2026		5,000,000	$	5,000		1,008,595	$	1,009	$	355,929	$	(317,010	)	$	-		$	44,636

	For Three Months Ended March,
	2026			2025
Cash Flows from Operating Activities:
Net income(loss)	$	(6,183	)	$	16,859

Adjustments to reconcile net income (loss) to net cash used in operating activities:
Changes in operating assets and liabilities:
Accounts receivable		(2,014	)		(44,337	)
Bad debt expense		(7,213	)		-
Accounts payable and accrued expense		(7,302	)		(51,981	)

Net cash provided by (used in) operating activities		(22,712	)		(79,459	)

Cash Flows used in Investing Activities
Acquisition of vehicle		(25,000	)
Changes in loan accounts					(40,008	)
		(25,000	)		(40,008	)
Net cash used in financing activities		(25,000	)		-

Net change in cash		(47,712	)		(119,467	)
Cash at beginning of period		51,948			151,576
Cash at end of period	$	4,236		$	32,109

SUPPLEMENT DISCLOSURE
Interest paid	$	-		$	-
Income taxes paid	$	-		$	-

NON-CASH TRANSACTIONS

	·	Audited or reviewed balance sheets of the accounting acquirer
	·	Audited or reviewed statements of operations, cash flows, and stockholders’ equity
	·	Pro forma adjustments reflecting the merger transaction

	·	Current economic conditions,
	·	Reasonable and supportable forecasts.

	·	Accounts receivable continue to be presented net of allowance for credit losses.
	·	The allowance roll-forward now includes expected credit loss adjustments.
	·	Additional qualitative disclosures describe the methodology, assumptions, and factors considered in estimating expected losses.

	1.	Identify the contract(s) with a customer.
	2.	Identify the performance obligations in the contract.
	3.	Determine the transaction price.
	4.	Allocate the transaction price to the performance obligations in the contract.
	5.	Recognize revenue when (or as) the entity satisfied the performance obligations.

	1.	Grease trap cleaning and maintenances service
	2.	Cleaning product line.
	3.	Pressure washing service
	4.	Used cooking oil recycling
	5.	Tech fees

No.		Description
31.1		Chief Executive Officer Certification
31.2		Chief Financial Officers Certification
32.1		Section 1350 Certification
32.2		Section 1350 Certification

101.INS		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH		Inline XBRL Taxonomy Extension Schema Document
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF		Inline XBRL Taxonomy Extension Definition Document
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document
104		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101)

	BARREL ENERGY, INC.

Date: May 14, 2026	By:	/s/ Jarmin Kaltsas
		Jarmin Kaltsas
		Chief Executive Officer

1.	I have reviewed this quarterly report on Form 10-Q of Barrel Energy Inc.

2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 (e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

	(a)	Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	(b)	Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	(c)	Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	(d)	Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

	(a)	All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

	(b)	Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

1.	I have reviewed this quarterly report on Form 10-Q of Barrel Energy Inc.;

2.	Based on my knowledge, this quarterly report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this quarterly report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this quarterly report;

4.	The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15 (e) and 15d-15(e) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

		/s/ Alfreddie Johnson
		Chief Finance Officer
		Date: May 14, 2026

1.	The Form 10-Q fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.	The information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operation of Barrel Energy, Inc.