Tribal Rides International Corp. reported its financial results for the second quarter of 2025, revealing a net loss of $162,619 for the six months ended June 30, 2025, compared to a loss of $22,955 for the same period in 2024. The company did not generate any revenue during this period, consistent with its ongoing transition from a ridesharing technology focus to the food technology sector. The increase in net loss was primarily attributed to a one-time non-cash gain of $174,350 from the extinguishment of liabilities due to related parties in the previous fiscal period.
The company's total assets as of June 30, 2025, amounted to $5,136,073, a slight increase from $5,000,000 at the end of 2024. This growth was driven by 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 company issued 250,000,000 shares of common stock, valued at $125,000, to facilitate this acquisition. Total liabilities also rose to $828,029 from $797,001, reflecting increased accounts payable and accrued liabilities.
Operationally, Tribal Rides has shifted its focus following the sale of its intellectual property assets to Boumarang Inc. for $5 million at the end of 2024. This divestiture marked the end of its historical operations in transportation technology, and the company is now concentrating on developing opportunities in the food tech sector. The transition is expected to require additional funding and integration efforts to establish a revenue-generating business model.
As of June 30, 2025, the company reported an accumulated deficit of $2,822,109, up from $2,799,154 at the end of 2024. The company had only $2,973 in cash on hand, raising concerns about its ability to meet working capital needs. Management has indicated that the continuation of operations is contingent upon securing additional capital, as the company has not generated revenue since its inception and continues to experience negative cash flows.
Looking ahead, Tribal Rides International Corp. aims to realign its corporate strategy to focus on food technology, which it believes presents significant growth opportunities. However, the company acknowledges that it remains in a development stage with no current operating revenues. The management plans to seek additional funding through private equity or public markets to support its growth initiatives, although there are no specific agreements in place at this time.
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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