Gemaxel Inc. Reports Continued Revenue Challenges and Net Loss of $321,022 for Nine Months Ended September 30, 2025

Gemaxel Inc. (formerly Worlds Inc.) reported its financial results for the third quarter and the nine months ended September 30, 2025, revealing a continued lack of revenue and a net loss of $321,022 for the nine-month period, compared to a net loss of $373,968 for the same period in 2024. The company has not generated any revenue during both the three and nine months ended September 30, 2025, reflecting ongoing challenges in monetizing its intellectual property and non-fungible tokens. The operating loss for the nine months was $262,681, a decrease from the $317,184 loss reported in the previous year, indicating some improvement in operational efficiency.

Total current assets decreased significantly to $6,817 as of September 30, 2025, down from $15,130 at the end of 2024. This decline was primarily driven by a reduction in cash and cash equivalents, which fell to $4,629 from $6,380. Current liabilities also increased to $3,981,384 from $3,668,675, largely due to rising accrued expenses and accounts payable. The company’s accumulated deficit grew to $47,574,318, up from $47,253,296 at the end of 2024, reflecting ongoing financial difficulties.

Operationally, Gemaxel has been functioning at a reduced capacity, with only one employee and reliance on consultants for additional work. The company’s strategic focus has shifted towards expanding its legacy celebrity worlds and its collection of non-fungible tokens, although it has yet to realize any revenue from these initiatives. The company’s headcount remains low, and it has not issued any new shares or warrants during the reporting period. The CEO, Thom Kidrin, who passed away in November 2025, had been the sole salaried employee, and his employment agreement expired in August 2025.

Looking ahead, Gemaxel's management has expressed concerns about the company's ability to continue as a going concern, citing a working capital deficiency of $3,974,567. The company is actively seeking additional capital to support its operations and strategic plans, but it currently has no arrangements in place for new financing. The outlook remains uncertain, as the company must navigate significant financial challenges while attempting to monetize its intellectual property and expand its business operations.