Tribal Rides International Corp. Reports $143,998 Net Loss in Q3 2025 Amid Strategic Shift to Food Technology

Tribal Rides International Corp. reported its financial results for the third quarter of 2025, revealing a net loss of $143,998 for the three months ended September 30, 2025, compared to a loss of $22,060 for the same period in 2024. For the nine months ended September 30, 2025, the company recorded a net loss of $166,953, significantly higher than the $64,491 loss reported in the prior year. The increase in losses is attributed to a substantial rise in general and administrative expenses, which surged to $127,450 in the third quarter of 2025 from just $3,600 in the same quarter of 2024, reflecting increased operational activity and legal fees associated with the company's strategic pivot.

The company's total assets as of September 30, 2025, amounted to $5,186,232, up from $5,000,000 at the end of 2024. This increase is primarily due to the acquisition of 1,157 commercial ice/water vending machines valued at $40,809, as part of a Share Exchange Agreement with SUPA Food Services LLC. The transaction involved the issuance of 250,000,000 shares of common stock, valued at $125,000, and the assumption of a related party loan obligation of $121,200. The company has shifted its focus from ridesharing technology to the food technology sector, marking a significant strategic change following the sale of its intellectual property assets to Boumarang Inc. for $5 million in December 2024.

Operationally, Tribal Rides has not generated any revenue during the reported periods, consistent with its transition phase. The company reported an accumulated deficit of $2,966,107 as of September 30, 2025, compared to $2,799,154 at the end of 2024. The working capital deficit also widened to $960,954 from $746,001, indicating ongoing financial challenges. The company’s cash position improved slightly, with $53,132 available at the end of the third quarter, compared to no cash on hand at the end of the previous fiscal year.

In terms of organizational changes, the company has undergone significant leadership transitions, including the appointment of Yessenia Hernandez as the new Chief Executive Officer following the resignation of previous executives in early 2025. The company has also engaged a new independent registered public accounting firm, Lao Professionals, to replace its former auditor. These changes are part of a broader effort to realign the company’s strategy and operations in the food technology sector, which management believes presents substantial growth opportunities.

Looking ahead, Tribal Rides International Corp. faces considerable challenges in achieving profitability and sustaining operations. The company has indicated that its future success will depend on its ability to raise additional capital, complete acquisitions, and successfully launch products in the food tech space. Management has expressed the need for significant funding to support its growth plans, although no specific agreements for new funding sources have been established as of the reporting date. The company’s ability to continue as a going concern remains uncertain, as highlighted by the independent auditors' concerns regarding its financial viability.