Global Asset Management Group, Inc 10-Q/A for FY2026 Q2

Global Asset Management Group, Inc. (GAMG)

10-Q/A 2026-10-01 For: 2026-06-30

Added on October 01, 2026

About this 10-Q/A

Global Asset Management Group, Inc filed this 10-Q/A on October 1, 2026, covering the quarter ended June 30, 2026 (FY2026 Q2).

Headline figures

Quarter ended June 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $236.26K; compared with $0 a year earlier
Net loss: $736K; compared with a net loss of $9300 a year earlier
Diluted EPS: -$0.00; compared with -$0.00 a year earlier

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Wyoming		84-1641415
(State of incorporation)		(I.R.S. employer identification no.)

51 Monroe St., Suite 1505 Rockville, MD		20852
(Address of principal executive offices)		(Zip Code)

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

Form 10-Q/A		Page

PART I. FINANCIAL INFORMATION

Item 1.	Consolidated Financial Statements	F-2

	Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 (unaudited and as restated)	F-2

	Consolidated Statements of Operations for the three and six months ended June 30, 2026 and 2025 (unaudited and as restated)	F-3

	Consolidated Statements of Stockholders’ Equity for the six months ended June 30, 2026 and 2025 (unaudited and as restated)	F-4

	Consolidated Statements of Cash Flows for the six months ended June 30, 2026 and 2025 (unaudited and as restated)	F-5

	Notes to Consolidated Financial Statements (unaudited and as restated)	F-6

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	4

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	9

Item 4.	Controls and Procedures	9

PART II. OTHER INFORMATION

Item 1.	Legal Proceedings.	10

Item 1A.	Risk Factors.	10

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds.	10

Item 3.	Defaults Upon Senior Securities.	10

Item 4.	Mine Safety Disclosures.	10

Item 5.	Other Information.	10

Item 6.	Exhibits.	11

Signatures		12

Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 (unaudited and as restated)		F-2
Consolidated Statements of Operations for the three and six months ended June 30, 2026 and 2025 (unaudited and as restated)		F-3
Consolidated Statements of Stockholders’ Equity for the six months ended June 30, 2026 and 2025 (unaudited and as restated)		F-4
Consolidated Statements of Cash Flows for the six months ended June 30, 2026 and 2025 (unaudited and as restated)		F-5
Notes to Consolidated Financial Statements (unaudited and as restated)		F-6

	As of June 30, 2026			As of Dec 31, 2025
	(Unaudited)			(As Revised)
ASSETS
Current Assets
Cash	$	187,933		$	49,077
Prepaid insurance	$	49,234		$	45,658
Due from related parties	$	844,606		$	-
Accounts receivable	$	210,190		$	-
Note receivable from officer, including accrued interest	$	251,155		$	14,463
Total current assets	$	1,543,118		$	109,198

Escrow holdback	$	1,842,939		$	1,606,494
Property and equipment, net	$	20,837,290		$	7,896,994
Construction in progress	$	1,260,177		$	577,510
Deferred financing costs	$	474,395		$	266,539

TOTAL ASSETS	$	25,957,919		$	10,456,735

LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities
Accounts payable and accrued expenses	$	1,191,949		$	8,930
Due to related parties	$	81,161		$	28,925
Loans payable to officers	$	98,302		$	98,302
Note payable – Daniel W. Snyder	$	21,830		$	21,830
Accrued interest payable	$	239,989		$	34,953
Security deposits held	$	8,022		$	8,022
Notes payable	$	12,355,184		$	-
Total current liabilities	$	13,996,437		$	200,962

Mortgage debt	$	11,447,504		$	10,239,625
Other long-term liabilities	$	2,069,387		$	-
Total other liabilities	$	13,516,891		$	10,239,625

TOTAL LIABILITIES	$	27,513,328		$	10,440,587

Stockholders’ Equity
Preferred stock, par value $0.01 per share; 50,000,000 shares authorized; no shares issued and outstanding as of June 30, 2026 and December 31, 2025.
Common stock, par value $0.01 per share; 1,000,000,000 shares authorized; 440,152,858 and 339,072,858 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively.	$	4,401,529		$	3,390,729
Additional paid-in capital	$	35,552,353		$	36,563,153
Accumulated deficit	$	(41,509,291	)	$	(39,937,734	)
TOTAL STOCKHOLDERS’ EQUITY	$	(1,555,409	)	$	16,148
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	25,957,919		$	10,456,735

	Three Months Ended,						Six Months Ended,
	June 30,						June 30,
	2026			2025			2026			2025
Operating revenue:
Revenue	$	236,261		$	-		$	359,514		$	-
Cost of sales	$	-		$	-		$	-		$	-
	$	236,261		$	-		$	359,514		$	-

Operating expenses:
Bank Charges & Fees	$	2,531		$	-		$	3,404		$	834
Legal & Professional Services	$	66,679		$	9,300		$	128,158		$	9,300
General and administrative Expenses	$	354,947		$	-		$	812,968		$	-
Amortization and other Expenses	$	141,706		$	-		$	221,987		$	-
Property Management	$	63,356		$	-		$	82,208		$	-
Insurance Expense	$	40,506		$	-		$	41,397		$	-
Transfer Agent	$	16,761		$	-		$	16,761		$	-
Interest expense	$	285,773		$	-		$	345,471		$	-
Total operating expenses	$	(972,259	)	$	(9,300	)	$	(1,652,354	)	$	(10,134	)

Loss from operations	$	(735,998	)	$	(9,300	)	$	(1,292,840	)	$	(10,134	)

Other Income (expenses)
Misc. receivables written off	$	-		$	-		$	-		$	(45,000	)
Gain/(Loss) from settlement/debt extinguishment
Total other income/(expense)	$	-		$	-		$	-		$	(45,000	)

Net Income (loss)	$	(735,998	)	$	(9,300	)	$	(1,292,840	)	$	(55,134	)

Earnings per share
Basic	$	(0.00170	)	$	(0.00011	)	$	(0.00334	)	$	(0.00066	)
Diluted	$	(0.00170	)	$	(0.00011	)	$	(0.00334	)	$	(0.00066	)

Weighted average number of common shares outstanding – basic		433,559,451			83,654,525			386,898,051			83,654,525
Weighted average number of common shares outstanding – diluted		433,559,451			83,654,525			386,898,051			83,654,525

											Additional
	Common stock				Preferred Stock A						Paid-in			Noncontrolling			Accumulated
Description	Shares		Amount		Shares			Amount			Capital			interest			Deficit			Total
	$		$		$			$			$			$			$			$
Balance – Jan 1, 2025		83,654,525		836,546		12,500			125			38,919,349			5,851			(39,783,011	)		(21,140	)
Common stock issued		255,418,333		2,554,183											-			-			2,554,183
Additional paid in capital		-										(2,356,196	)		-			-			(2,356,196	)
Net (loss)		-										-			-			(154,699	)		(154,699	)
Preferred Stock A Cancelled						(12,500	)		(125	)								125			-
Opening subsidiary equity eliminated															(5,851	)		(149	)		(6,000	)
Balance – December 31, 2025		339,072,858		3,390,729		-			-			36,563,153			-			(39,937,734	)		16,148

Balance – Jan 1, 2026		339,072,858		3,390,729		-			-			36,563,153			-			(39,937,734	)		16,148
Common stock issued as acquisition consideration		101,080,000		1,010,800											-			-			1,010,800
Additional paid in capital		-		-								(1,010,800	)		-			-			(1,010,800	)
Net (loss)		-										-			-			(1,292,840	)		(1,292,840	)
Sustainable Properties equity acquired and members’ equity of consolidated subsidiaries															-			(278,717	)		(278,717	)
Balance – June 30, 2026		440,152,858		4,401,529		-			-			35,552,353			-			(41,509,291	)		(1,555,409	)

	2026			2025
Cash flows from operating activities:
Net loss from continuing operations attributable to common stockholders	$	(1,292,840	)	$	(55,134	)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization and Non-cash expenses	$	221,987		$	-
Sustainable Properties results before the acquisition date — non-cash	$	-		$	-
Due from Related Party /Subscription receivables	$	(312,421	)	$	-
Receivable written-off	$	-		$	45,000
Notes and Payables	$	374,257		$	9,300
Prepaid expenses and receivables	$	(66,249	)	$	-
Net cash used in operating activities	$	(1,075,266	)	$	(834	)

Cash flows from investing activities
Property and equipment, net	$	(574,154	)	$	-
Construction in progress	$	(428,510	)	$	-
Deferred financing costs	$	(274,215	)	$	-
Escrow holdbacks	$	(455,942	)	$	-
Net cash used in investing activities	$	(1,732,820	)	$	-

Cash flows from financing activities
Common stock issued as acquisition consideration — non-cash	$	-			-

Other long-term debt and mortgage debt	$	2,853,843		$	-
Members’ equity of consolidated subsidiaries	$	64,162		$	-
Net cash provided by financing activities	$	2,918,006		$	-

Net increase in cash	$	109,920		$	(834	)
Cash acquired on consolidation at the acquisition dates	$	28,936		$	-
Cash, beginning of period	$	49,077		$	834
Cash, end of period	$	187,933		$	-

	·	Industrial manufacturing facilities suitable for redevelopment

	·	Manufacturing and production infrastructure for health and wellness products

	·	Options for future purchase of Illinois cannabis craft grow, infuser and transportation licenses

	As Previously Reported			Restatement Adjustments			As Restated
ASSETS
Cash	$	64,180		$	123,753		$	187,933
Accounts receivable		-			210,190			210,190
Due from related parties		-			844,606			844,606
Notes receivable from officer, including accrued interest		72,750			178,405			251,155
Prepaid insurance		45,658			3,576			49,234
Total current assets		182,588			1,360,530			1,543,118
Escrow holdback		1,176,776			666,163			1,842,939
Property and equipment, net		7,612,869			13,224,421			20,837,290
Construction in progress		784,245			475,932			1,260,177
Deferred financing costs		151,939			322,456			474,395
Total assets	$	9,908,417		$	16,049,502		$	25,957,919
LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT)
Accounts payable and accrued expenses	$	4,000		$	1,187,949		$	1,191,949
Due to related parties		28,925			52,236			81,161
Loans payable to officers		98,302			-			98,302
Note payable, Daniel W. Snyder		21,830			-			21,830
Accrued interest payable		34,953			205,036			239,989
Security deposits held		8,022			-			8,022
Notes payable		-			12,355,184			12,355,184
Total current liabilities		196,032			13,800,405			13,996,437
Mortgage debt		9,989,625			1,457,879			11,447,504
Other long-term liabilities		-			2,069,387			2,069,387
Total other liabilities		9,989,625			3,527,266			13,516,891
Total liabilities		10,185,657			17,327,671			27,513,328
Common stock		4,401,529			-			4,401,529
Additional paid-in capital		35,723,833			(171,480	)		35,552,353
Accumulated deficit		(40,402,601	)		(1,106,690	)		(41,509,291	)
Total stockholders’ equity (deficit)	$	(277,239	)	$	(1,278,170	)	$	(1,555,409	)
Total liabilities and stockholders’ equity (deficit)	$	9,908,417		$	16,049,502		$	25,957,919

Exhibit Number		Description
4.1		Certificate of Designation of Series A Preferred Stock, incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed September 4, 2026.
10.1		Term Sheet / Debt & Equity Transfer & Assumption Agreement, ratified and effective May 6, 2026, incorporated by reference to the Company’s Current Report on Form 8-K filed May 12, 2026.
31.1		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*		Inline XBRL Instance 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 Linkbase 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.

	GLOBAL ASSET MANAGEMENT GROUP, INC.

Date: October 1, 2026	By:	/s/ John Murray
	Name:	John Murray
	Title:	President and Director

1.	I have reviewed this Amendment No. 1 to the quarterly report on Form 10-Q/A of Global Asset Management Group, 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 quarterly 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:

	(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 quarterly 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 quarterly report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this quarterly report based on such evaluation; and

	(d)	Disclosed in this quarterly report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter 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.

Dated: October 1, 2026	By:	/s/ John Murray
	Name:	John Murray
		(Principal Executive Officer)

Dated: October 1, 2026	By:	/s/ Richard Balles
	Name:	Richard Balles
		(Principal Financial/Accounting Officer)

(1)	such Amendment No. 1 to the Quarterly Report on Form 10-Q/A for the quarter ended June 30, 2026 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2)	the information contained in such Amendment No. 1 to the Quarterly Report on Form 10-Q/A fairly presents, in all material respects, the financial condition and results of operations of Global Asset Management Group, Inc.