SUPA Consolidated Inc. Reports $186K Net Loss Amid Transition to Food Technology Sector

SUPA Consolidated Inc., formerly known as Tribal Rides International Corp., reported a net loss of $186,068 for the three months ended March 31, 2026, a significant decline from a net income of $139,664 during the same period in 2025. The company's financial performance reflects a substantial increase in general and administrative expenses, which rose to $170,052 from $18,605 year-over-year. This increase is attributed to the company's transition into operational activities following its acquisition of commercial water and ice vending machines and related assets through a share exchange agreement with SUPA Food Services LLC.

The company's total assets as of March 31, 2026, amounted to $5,166,035, a slight increase from $5,150,775 at the end of the previous fiscal year. Current assets rose to $41,035, primarily due to an increase in cash and inventory, while total liabilities increased to $1,314,173 from $1,112,845. The accumulated deficit also widened to $3,278,291 from $3,092,223, reflecting ongoing operational losses. The company continues to face a working capital deficit of $1,273,138, raising concerns about its ability to sustain operations without additional capital.

In terms of strategic developments, SUPA Consolidated Inc. has pivoted from its previous focus on transportation and autonomous ridesharing technologies to the food technology sector. This shift followed the sale of its intellectual property to Boumarang Inc. for $5 million in December 2024. The company has since focused on deploying and monetizing its vending machines, with plans to expand its operations and evaluate additional locations and partnerships. As of March 31, 2026, the company held inventory valued at $14,000, representing bottled water and supplies for its vending machines.

Operationally, the company has not yet generated revenue from its new business model, as it is still in the development stage. The absence of revenue during the reported quarter reflects the early phase of its vending machine operations. The company has also reported no income or loss from discontinued operations, as it has ceased activities related to its former ridesharing business. The management anticipates funding its near-term operations through advances from its majority shareholder, Spark Capital Investments LLC, and is exploring options for third-party debt or equity financing.

Looking ahead, SUPA Consolidated Inc. acknowledges the need for significant additional capital to support its growth plans and operational needs. The company has expressed uncertainty regarding its ability to continue as a going concern, given its accumulated losses and lack of revenue generation. Management is actively seeking new funding sources and is committed to monitoring its financial condition closely as it navigates the challenges of establishing its new business model in the food technology sector.