CFOR · CapForce Inc.
Substantial doubt about the company's ability to continue as a going concern.
“Since inception, the Company has incurred significant losses from operations and negative operating cash flows. The accompanying unaudited condensed consolidated financial statements do not include any adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of the Company to continue as a going concern.”View the 10-Q filed Aug 19, 2026
2 customers — 79% of receivables (March 31, 2026)
“At March 31, 2026, the Company had accounts receivable from two customers that individually represented 79% and 20% of total accounts receivable, respectively.”
2 customers — 20% of receivables (March 31, 2026)
“At March 31, 2026, the Company had accounts receivable from two customers that individually represented 79% and 20% of total accounts receivable, respectively.”
2 customers — 80% of receivables (December 31, 2025)
“At December 31, 2025, the Company had accounts receivable from two customers that individually represented 80% and 19% of total accounts receivable, respectively.”
2 customers — 19% of receivables (December 31, 2025)
“At December 31, 2025, the Company had accounts receivable from two customers that individually represented 80% and 19% of total accounts receivable, respectively.”
Named-executive compensation from the company's DEF 14A proxy statements — salary, bonus, stock and option awards, non-equity incentive, and the company-reported total per executive per fiscal year, exactly as disclosed in the Summary Compensation Table.
| Executive | Role | Total |
|---|---|---|
| Oliver Schacht | Chief Executive Officer | $520,797 |
| Albert Weber | Chief Financial Officer | $513,392 |
| Johannes Bacher | Chief Operating Officer | $367,678 |
| Executive | Role | Total |
|---|---|---|
| Oliver Schacht | Chief Executive Officer | $875,815 |
| Johannes Bacher | Chief Operating Officer | $547,669 |
| Timothy C. Dec | Chief Financial Officer | $186,923 |
| Albert Weber | Chief Financial Officer | — |
| Executive | Role | Total |
|---|---|---|
| Oliver Schacht | Chief Executive Officer | $1,121,158 |
| Timothy C. Dec | Chief Financial Officer | $647,288 |
| Evan Jones | Chief Executive Officer | $587,888 |
| Johannes Bacher | Chief Operating Officer | $512,288 |
| Executive | Role | Total |
|---|---|---|
| Evan Jones | Chief Executive Officer | $448,426 |
| Timothy C. Dec | Chief Financial Officer | $315,470 |
| Vadim Sapiro | Chief Information Officer | $311,050 |
| Johannes Bacher | Chief Operating Officer | — |
| Oliver Schacht | Chief Executive Officer | — |
| Executive | Role | Total |
|---|---|---|
| Evan Jones | Chief Executive Officer | $469,209 |
| Timothy C. Dec | Chief Financial Officer | $379,053 |
| Vadim Sapiro | Chief Information Officer | $364,053 |
Executive changes
| Person | Role | Change | Filed |
|---|---|---|---|
| Constance Wong Poh Yin | director | Appointed | 2026-02-27 |
| Ken Lim Zhao Qi | director | Appointed | 2026-02-27 |
| Ethan Low Yu Jie | director | Appointed | 2026-02-27 |
| John Tan Honjian | director | Appointed | 2026-02-27 |
| Victor Chua Kok Hoe | director | Appointed | 2026-02-27 |
| David Lazar | President | Resigned | 2025-12-23 |
| Christian-Laurent Bonte | Chief Executive Officer | Appointed | 2025-12-05 |
| John Tan Honjian | Chief Executive Officer | Resigned | 2025-12-05 |
| Christian-Laurent Benoit Bonte | Head of the Digital Investment Banking Arm of CapForce International Holdings Ltd. | Appointed | 2025-07-22 |
| Christian-Laurent Benoit Bonte | director | Resigned | 2025-07-22 |
| Gillian Tan Rou Yee | Company Secretary | Appointed | 2024-12-06 |
| Mohd Azham Azudin | Chief Operating Officer | Appointed | 2024-12-06 |
| Constance Wong Poh Yin | director | Appointed | 2024-08-15 |
| Victor Chua Kok Hoe | director | Appointed | 2024-08-15 |
| Ethan Low Yu Jie | director | Appointed | 2024-08-15 |
| Ken Lim Zhao Qi | director | Appointed | 2024-08-15 |
| Christian-Laurent Bonte | director | Appointed | 2024-08-15 |
| John Tan | Director | Appointed | 2024-08-02 |
| John Tan | Chief Executive Officer | Appointed | 2024-08-02 |
| John Tan | Chairman | Appointed | 2024-08-02 |
| David Natan | member of the Board | Resigned | 2024-08-02 |
| Matthew C. McMurdo | member of the Board | Resigned | 2024-08-02 |
| Avraham Ben-Tzvi | member of the Board | Resigned | 2024-08-02 |
| David Lazar | Director | Resigned | 2024-08-02 |
| David Lazar | Chairman | Resigned | 2024-08-02 |