Two Hands Corporation Reports Improved Net Loss of $64,234 in Q1 2026

Two Hands Corporation reported its financial results for the first quarter of 2026, revealing a net loss of $64,234, a significant improvement compared to a net loss of $330,432 in the same period of 2025. The company did not generate any revenue during the quarter, consistent with its previous fiscal periods. Total operating expenses decreased to $235,686 from $257,069 year-over-year, primarily due to reduced professional fees, despite an increase in salaries and benefits. The company’s cash position declined to $47,057 from $227,585 at the end of the previous fiscal year, reflecting ongoing operational challenges.

The balance sheet as of March 31, 2026, showed total assets of $466,274, up from $318,628 at the end of 2025, driven by an increase in deposits. However, total liabilities also rose to $2,467,657 from $2,264,701, leading to a stockholders' deficit of $2,001,383, compared to a deficit of $1,946,073 at the end of 2025. The increase in liabilities was attributed to higher accounts payable and accrued liabilities, as well as a rise in related party debt.

In terms of strategic developments, Two Hands Corporation has shifted its focus exclusively to the grocery market, having sold the assets of its gocart.city online grocery delivery application in May 2024. The company continues to operate its wholesale food distribution branch, Cuore Food Services, and is exploring new business opportunities, including potential ventures in the fintech and gig economy sectors. The company has also received approval to list its common shares on the Canadian Securities Exchange, with trading commencing in August 2022.

Operationally, the company reported a working capital deficiency of $2,387,220 as of March 31, 2026, compared to a deficiency of $2,010,465 at the end of 2025. The company is actively seeking to improve cash flows by reducing customer incentives, managing accounts payable, and potentially compensating staff with stock instead of cash. However, the company faces substantial doubt about its ability to continue as a going concern, as it will need to raise additional capital to implement its business plan and cover operational costs.

Looking ahead, Two Hands Corporation anticipates needing approximately $300,000 in cash over the next 12 months for operations and related services. The company is in discussions with investors for private loans and an equity line of credit but has no formal agreements in place. The management's ability to secure financing will be critical to the company's future operations and growth prospects.