OpenLocker Holdings Reports No Revenue and Increased Losses Amid Organizational Changes

OpenLocker Holdings, Inc. reported a significant decline in financial performance for the three and nine months ended April 30, 2025, compared to the same periods in the previous year. The company generated no revenue during the latest quarter, down from $19,338 in the prior year, and recorded total revenues of $126 for the nine months, a sharp decrease from $35,648. The net loss for the three months was $117,694, compared to a loss of $53,235 in the same quarter last year. For the nine-month period, the net loss was $452,843, an improvement from a loss of $666,213 in the previous year, attributed to reduced operating expenses.

The company has undergone significant organizational changes, including a transition in management. On April 9, 2025, OpenLocker entered into a Stock Purchase Agreement, issuing 426,501,851 shares of common stock for $400,000, which constituted 80% of the company’s outstanding shares post-transaction. This agreement also led to the resignation of several key executives and the appointment of Renger van den Heuvel as the new CEO. The restructuring aims to stabilize the company and refocus its business strategy.

Operationally, OpenLocker has seen a reduction in its customer engagement metrics, with no sales reported in the latest quarter. The company has shifted its focus from digital collectibles to physical autographed items, responding to customer preferences. As of April 30, 2025, OpenLocker had cash reserves of $5,216 and a working capital deficit of $96,854. The company’s total liabilities decreased significantly to $102,070 from $467,814 as of July 31, 2024, primarily due to the settlement of debts and the conversion of notes payable into equity.

Looking ahead, OpenLocker faces substantial challenges, including the need for additional capital to fund operations. The company anticipates requiring approximately $2 million over the next 12 months to execute its business plan, which includes pursuing strategic acquisitions and enhancing its product offerings. However, there is considerable uncertainty regarding the ability to secure necessary funding, and the company has acknowledged the risk of needing to scale back operations or cease activities if additional capital is not obtained. The management remains committed to exploring new revenue-generating opportunities while navigating the complexities of the current market environment.