Hawkeye Systems Reports Decreased Net Loss and Significant Expense Reductions for Six Months Ending December 31, 2024

Hawkeye Systems, Inc. reported its financial results for the six months ending December 31, 2024, revealing a net loss of $244,395, a decrease from a loss of $387,501 during the same period in 2023. The company did not generate any revenue in either period, maintaining a consistent trend of no operating income. Total operating expenses for the first half of fiscal 2024 were $120,251, significantly lower than the $300,311 reported in the prior year, primarily due to reductions in professional fees, management compensation, and general administrative costs.

The company’s financial performance showed a marked improvement in the three months ending December 31, 2024, with operating expenses of $24,705 compared to $131,470 in the same quarter of the previous year. This reduction in expenses contributed to a smaller net loss of $87,675 for the quarter, down from $173,254 in the prior year. The decrease in operating expenses is attributed to strategic cost-cutting measures as the company continues to navigate its transition from pandemic-related products to exploring investment opportunities in diversified sectors, including affordable housing and climate change technologies.

Hawkeye Systems has undergone significant organizational changes, including a shift in focus from selling personal protective equipment to seeking investment opportunities. The company has not engaged in any new product launches or acquisitions during this reporting period. As of December 31, 2024, the company had no full-time employees, and its operations are supported by a single contractual executive. The company’s cash balance at the end of the reporting period was $0, a decline from $398 a year earlier, indicating a critical need for additional funding to sustain operations.

The company’s accumulated deficit reached approximately $12.9 million as of December 31, 2024, raising substantial doubt about its ability to continue as a going concern. Management has indicated that the company will require additional capital to fund ongoing operations and regulatory obligations. Future funding strategies may include the sale of equity or debt securities, although there are no guarantees that such financing will be available on favorable terms. The company’s ability to secure necessary funding is crucial for its plans to identify and negotiate potential business combinations.

Looking ahead, Hawkeye Systems aims to raise capital through various means, including private placements and related party advances. However, the company acknowledges the uncertainty surrounding its ability to obtain sufficient funds to support its operations and execute its business plan. The management's focus remains on stabilizing the company’s financial condition while exploring strategic opportunities for growth in new sectors.