TAP Real Estate Technologies, Inc. (formerly HUMBL, Inc.) reported a net loss of $4.5 million for the six months ending June 30, 2026, a significant improvement compared to a net loss of $6.8 million during the same period in 2025. The company did not generate any revenue in either period, reflecting its ongoing transition and strategic rebranding efforts towards real estate asset acquisition and blockchain-enabled tokenization. Operating expenses decreased to $2.8 million from $3.3 million year-over-year, primarily due to reduced professional fees and the absence of a significant settlement expense that was recorded in the previous year.
The company’s total assets increased to $2.5 million as of June 30, 2026, up from $1.4 million at the end of 2025. This growth was driven by an increase in cash reserves, which rose to $165,611 from $126,066, and the establishment of a $700,000 license fee for proprietary technology related to real estate applications. However, TAP Real Estate continues to face a working capital deficit of $3.3 million, up from $2.9 million at the end of 2025, largely due to increased liabilities from convertible notes and derivative liabilities.
In terms of strategic developments, TAP Real Estate has initiated a licensing agreement with TAP, Inc. to utilize proprietary technologies for real estate applications. This agreement is expected to enhance the company's operational capabilities in managing and tokenizing real estate assets. Additionally, the company has launched TAPRealEstate.com and MyHomeCloud™, which are designed to expand its market reach and provide digital solutions for homeowners and property operators.
Operationally, TAP Real Estate has not reported any customer counts or user statistics as it transitions from its previous business model. The company has focused on evaluating potential real estate opportunities and is actively working on integrating blockchain technology into its operations. As of June 30, 2026, the company had a total of 61.7 billion shares of common stock outstanding, reflecting ongoing equity transactions and conversions of convertible notes.
Looking ahead, TAP Real Estate aims to drive revenue through management and listing fees associated with tokenized real estate offerings. The company is also focused on developing a scalable model for real estate acquisition and management that aligns with emerging regulatory frameworks. However, management has expressed substantial doubt about the company's ability to continue as a going concern, emphasizing the need for effective capital management and operational execution in the coming months.
About TAP REAL ESTATE TECHNOLOGIES, INC.
HUMBL, Inc. is a holding company focused on digital commerce and industrial assets. It previously offered blockchain-based payment solutions, verified social media, and digital collectibles. Its core activities include operating digital wallets, e-commerce platforms, and managing mineral assets like magnesium silicate. The company targets consumers, merchants, and industrial markets in the U.S. and Latin America, leveraging proprietary technology and strategic acquisitions.
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