ZONEHIGH SIGNALFINANCIAL10-K

CleanCore Solutions experienced severe financial deterioration with operating losses tripling to $6.4M despite revenue growth, while stockholders' equity collapsed 61% and total liabilities nearly doubled.

The company is burning cash at an accelerating rate with operating cash flow worsening to -$2.3M, creating potential liquidity concerns. The dramatic increase in liabilities coupled with shrinking equity suggests the company may need additional financing or face going concern issues.

Comparing 2025-08-22 vs 2024-09-20View on EDGAR →
FINANCIAL ANALYSIS

While revenue grew a modest 29% to $2.1M, the company's cost structure appears severely misaligned with operating losses more than tripling and operating cash flow deteriorating by 51%. The balance sheet shows alarming signs of distress with stockholders' equity plummeting 61% to just $1.5M while total liabilities surged 87% to $7.0M, indicating the company is funding operations through debt rather than profitable growth. This financial profile suggests significant liquidity risks and potential dilution for existing shareholders if additional equity financing becomes necessary.

FINANCIAL STATEMENT CHANGES
Operating Income
P&L
-228.1%
-$1.9M→-$6.4M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Capital Expenditure
Cash Flow
+210.3%
$10K→$32K

Capital expenditure jumped 210.3% — major investment cycle underway; assess returns on deployment.

Net Income
P&L
-195.5%
-$2.3M→-$6.7M

Net income declined 195.5% — review whether driven by operations, interest costs, or non-recurring items.

Inventory
Balance Sheet
+100.5%
$672K→$1.3M

Inventory surged 100.5% — growing significantly faster than typical sales pace; potential demand softening or supply chain overcorrection.

Current Liabilities
Balance Sheet
+89.1%
$1.5M→$2.8M

Current liabilities surged 89.1% — significant near-term obligations; verify ability to meet short-term debt.

Total Liabilities
Balance Sheet
+86.9%
$3.7M→$7.0M

Liabilities grew 86.9% — significant increase in debt or obligations, assess impact on financial flexibility.

Stockholders Equity
Balance Sheet
-60.8%
$3.7M→$1.5M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Operating Cash Flow
Cash Flow
-51%
-$1.5M→-$2.3M

Operating cash flow fell 51% — earnings quality concerns; investigate working capital changes and non-cash items.

Accounts Receivable
Balance Sheet
+40.7%
$467K→$658K

Receivables surged 40.7% — revenue recognized but not yet collected; watch for collection issues or channel stuffing.

Revenue
P&L
+29.2%
$1.6M→$2.1M

Revenue growing 29.2% — solid top-line momentum, watch margins for quality of growth.

LANGUAGE CHANGES
NEW — 2025-08-22
PRIOR — 2024-09-20
ADDED
Shares held by each executive officer and director and by each person who owns 10% or more of the outstanding shares of class B common stock have been excluded from the calculation in that such persons may be deemed to be affiliates of the registrant.
As of August 21, 2025, there were a total of 11,175,846 shares of the registrant s class B common stock issued and outstanding.
Securities and Exchange Commission within 120 days after the end of the fiscal year to which this report relates.
38 i INTRODUCTORY NOTES Use of Terms Except as otherwise indicated by the context and for the purposes of this report only, references in this report to we, us, our and our company refer to CleanCore Solutions, Inc., a Nevada corporation, and its wholly owned subsidiary CleanCore Global Limited, an Irish company, or CleanCore Global.
Further, a smaller size of nanobubbles is also more effective as they have a higher density of ozone and are able to provide a more thorough surface coverage, which destroys a higher number of contaminants.
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REMOVED
As of such date, there were 3,105,940 shares of class B common stock issued and outstanding, of which 2,545,824 shares were held by affiliates.
Executive officers, directors and by each person who owns 10% or more of the outstanding class B common stock may be deemed to be affiliates of the registrant.
As of September 19, 2024, there were a total of 7,965,919 shares of the registrant s class B common stock issued and outstanding.
49 i INTRODUCTORY NOTES Use of Terms Except as otherwise indicated by the context and for the purposes of this report only, references in this report to we, us, our and our company refer to CleanCore Solutions, Inc., a Nevada corporation; provided that all discussions in this report regarding our business and operations prior to the acquisition described under Item 1 Business Our Corporate History and Structure below refer to the business and operations of our predecessor companies described below.
Further, a smaller size of nanobubbles is also more effective as it has a higher density of ozone and is able to provide a more thorough surface coverage, which destroys a higher number of contaminants.
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