5/5Mag Magna Corp (MGNC): Going-concern doubt

Market data

Price before filing: n/a (n/a close, split/dividend-adjusted)
Market cap at flag: n/a · Latest: $3.3M (2026-10-12)

What happened next

Return from the last close before the filing date to the first close on/after the window end. Pending windows have not fully elapsed. Past performance says nothing certain about the future.

Verified excerpt

"As discussed in Note 2 to the financial statements, the entity has an accumulated deficit and uses net cash for their operating activities and operates at a net loss, all of which raise substantial doubt about its ability to continue as a going concern."

Quoted from the filing. Source

What this means

The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.

Going-concern opinion issued by: Mac Accounting Group & CPAs, LLP
Source: independent auditor report in Form 10-K (period 2025-04-30)

Why this score: in auditor's report; also within 90 days: Late quarterly report (NT 10-Q)