Madison Technologies Reports No Revenue and Increased Losses for Q3 2025

Madison Technologies Inc. reported no revenue for the third quarter and the first nine months of 2025, maintaining a trend from the previous year. The company incurred a net loss of $646,355 for the three months ended September 30, 2025, slightly higher than the $626,446 loss reported in the same period of 2024. For the nine-month period, the net loss decreased to $2,074,314 from $2,130,550 year-over-year. The increase in losses for the quarter was attributed to a significant rise in general and administrative expenses, which surged to $39,646 from $2,580 in the prior year, primarily due to costs associated with SEC filings.

In terms of financial position, Madison Technologies reported a working capital deficit of $22,460,609 as of September 30, 2025, compared to a deficit of $20,386,294 at the end of 2024. The increase in the deficit was largely due to accrued interest on debt. The company’s total liabilities rose to $22,476,998 from $20,516,862, reflecting an increase in accounts payable and accrued liabilities, which reached $3,478,591, up from $2,772,924 in the previous period. The accumulated deficit also widened to $33,732,441 from $31,658,127.

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 a loan of $551,089 recorded as of September 30, 2025, up from $394,617 at the end of 2024. This funding is critical for supporting ongoing operations and working capital needs.

Looking ahead, Madison Technologies acknowledges the need for additional capital to sustain its operations and implement its business plan. The company is exploring options for raising funds through the sale of stock or debt securities. However, management has expressed concerns regarding its ability to secure financing on favorable terms, which raises substantial doubt about the company's ability to continue as a going concern. The financial statements for the period do not include adjustments that might be necessary should the company be unable to continue its operations.