Madison Technologies Reports No Revenue and $1.43 Million Net Loss for Six Months Ending June 30, 2025

Madison Technologies Inc. reported no revenue for the six months ending June 30, 2025, maintaining a trend from the previous fiscal period. The company incurred a net loss of $1.43 million, a decrease from a loss of $1.50 million during the same period in 2024. The loss per share remained consistent at $0.0009 for both periods. Operating expenses increased significantly, with general and administrative costs rising to $101,022 from $24,498, primarily due to expenses related to SEC filings. Professional fees decreased to $137,174 from $190,703, reflecting reduced costs associated with the transfer of assets related to the company's subsidiary, Sovryn.

In terms of financial position, Madison Technologies reported a working capital deficit of $21.81 million as of June 30, 2025, compared to $20.39 million at the end of 2024. The increase in the deficit was attributed to accrued interest on debt. The company had no cash on hand at the end of the reporting period, similar to the previous year. Total liabilities rose to $21.87 million from $20.52 million, driven by increases in accounts payable and accrued liabilities, which reached $3.26 million, up from $2.77 million.

Operationally, Madison Technologies has not reported any significant changes in customer counts or user statistics, nor has it launched new products or made acquisitions during the reporting period. The company continues to rely on financing from its principal shareholder, with $523,307 owed as of June 30, 2025, up from $394,617 at the end of 2024. The company has indicated that it will require additional capital to meet its long-term operating requirements and plans to raise funds through stock or debt securities.

Looking ahead, Madison Technologies has expressed concerns about its ability to continue as a going concern, citing recurring losses and a significant accumulated deficit. Management's plans to address these challenges include raising additional equity financing and borrowing funds under private credit facilities. The company has also noted that it received $214,039 in additional funding from its principal shareholder after the reporting period, which is expected to support ongoing operations and working capital needs. However, the company acknowledges that there is no guarantee that it will be able to secure necessary financing in a timely manner or on favorable terms.