SUPA Consolidated Inc., formerly known as Tribal Rides International Corp., reported significant financial challenges in its recent 10-K filing for the fiscal year ending December 31, 2025. The company generated no revenue for the second consecutive year, resulting in a net loss of $293,069, a stark contrast to a net income of $52,842 in 2024, which was primarily due to one-time non-cash gains. Total operating expenses surged to $406,982, up from $88,196 in the previous year, reflecting increased legal, professional, and accounting costs associated with the company's transition away from its former ridesharing technology business.
The company underwent a strategic transformation in 2024, selling its intellectual property assets to Boumarang Inc. for $5 million, which included patents and software related to ridesharing and autonomous vehicles. Following this divestiture, SUPA Consolidated Inc. has shifted its focus towards the food technology sector, aiming to identify and acquire businesses and assets within this industry. As of December 31, 2025, the company reported a working capital deficit of $1,087,070 and an accumulated deficit of $3,092,223, raising concerns about its ability to continue as a going concern.
In terms of operational developments, the company has made significant changes to its leadership. Following a series of resignations, including that of former CEO Joseph Grimes, Yessenia Hernandez was appointed as the new CEO in November 2025. The company also engaged in a Share Exchange Agreement with SUPA Food Services LLC, acquiring 1,157 commercial ice/water vending machines valued at approximately $40,809. This acquisition is part of the company's strategy to diversify its operations and generate revenue in the food tech space.
As of the end of 2025, SUPA Consolidated Inc. had no full-time employees, relying instead on its directors and third-party consultants for operations. The company is currently in a development stage, with plans to raise additional capital through equity or debt financing, generate revenue from its new business initiatives, and implement cost reduction measures. However, the company acknowledges that there are no assurances regarding the success of these plans, given its current financial condition and market challenges.
Looking ahead, the company is focused on executing its new strategy in the food technology sector, which it believes presents significant growth opportunities. However, the ability to achieve these goals will depend on securing necessary financing and successfully launching new products or services. The company’s future remains uncertain, as it continues to navigate the complexities of its transition while addressing its financial obligations.
About Tribal Rides International Corp.
Tribal Rides International Corp. develops proprietary software and patented technologies for ridesharing and autonomous vehicles, focusing on AI-driven demand prediction and vehicle dispatch. It previously operated in transportation tech but sold its assets in 2024 to pivot into the food technology sector. The company is in development stage, with no current revenues, relying on raising capital to fund acquisitions and product launches.
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