Madison Technologies Reports $660,455 Net Loss and Zero Revenue for Q1 2026

Madison Technologies Inc. reported a net loss of $660,455 for the three months ended March 31, 2026, a decrease from the $709,477 loss recorded in the same period of the previous year. The company did not generate any revenue during this quarter, maintaining a consistent trend from the prior year. Operating expenses also decreased to $86,353 from $117,880, primarily due to reduced general and administrative costs and lower professional fees. The loss per share remained unchanged at $0.0004, with the weighted average shares outstanding increasing to 1,678,095,243 from 1,603,095,243.

The company's financial position showed a working capital deficit of $23,971,123 as of March 31, 2026, compared to a deficit of $23,310,668 at the end of 2025. This increase was attributed to accrued interest on debt obligations. Total liabilities rose to $24,062,044 from $23,441,236, driven by increases in accounts payable and accrued liabilities, as well as interest payable on senior secured notes. The accumulated deficit also grew to $35,299,205 from $34,638,750.

In terms of strategic developments, Madison Technologies appointed Vincent DeVito to its board of directors on January 31, 2026. The company continues to rely on financial support from its principal shareholder, Arena Investors, which provided $258,918 in additional funding to support ongoing operations. The company has indicated that it is exploring potential strategic initiatives, including amalgamation or similar transactions, to enhance its financial stability.

Operationally, Madison Technologies has not reported any significant changes in customer counts or product adoption rates, as it has not generated revenue from operations. The company’s cash position remained at zero, and it reported using $197,432 in cash for operating activities during the first quarter of 2026, compared to $90,693 in the same period of 2025. The company also secured $197,432 in financing from its principal shareholder during the quarter, reflecting a reliance on external funding to meet operational needs.

Looking ahead, Madison Technologies acknowledges the substantial doubt regarding its ability to continue as a going concern, emphasizing the need for additional capital to meet both short- and long-term obligations. The company is actively pursuing various financing options, including the issuance of equity or debt securities, to support its business plan and operational requirements. However, management cautions that there is no guarantee of securing such financing on favorable terms or in a timely manner.