CHASE PACKAGING CORP SEC 10-Q Report

Chase Packaging Corporation, a company currently without active operations, has released its Form 10-Q report for the second quarter of 2025. The report provides a detailed overview of the company's financial performance and operational status for the three and six months ended June 30, 2025. Despite the lack of operational activities, the company continues to manage its financials and explore strategic opportunities for future growth.

Financial Highlights

• Revenue: $0 million. The Company had no operations and no revenue for the three months and six months ended June 30, 2025, and 2024.
• Operating Income: $(32,456) for the three months ended June 30, 2025, compared to $(27,553) for the same period in 2024, reflecting an increase in operating expenses.
• Net Income: $(29,886) for the three months ended June 30, 2025, compared to $(23,361) for the same period in 2024, primarily due to increased general and administrative expenses.
• Net Income Per Share: $(0.00) for the three months ended June 30, 2025, and 2024, based on the weighted-average shares issued and outstanding.
• Net Income: $(44,393) for the six months ended June 30, 2025, compared to $(58,632) for the same period in 2024, due to a decrease in legal and professional fees.
• Net Income Per Share: $(0.00) for the six months ended June 30, 2025, and 2024, based on the weighted-average shares issued and outstanding.

Business Highlights

• Operational Status: Chase Packaging Corporation had no operations and no revenue for the three and six months ended June 30, 2025, and 2024. The company's income was solely from interest on short-term investments.
• Operating Expenses: For the three months ended June 30, 2025, operating expenses increased by $4,903 compared to the same period in 2024, primarily due to higher general and administrative expenses. For the six months ended June 30, 2025, operating expenses decreased by $16,909 compared to the same period in 2024, mainly due to reduced legal and professional fees.
• Loss from Operations: The company reported a loss from operations of $32,456 for the three months ended June 30, 2025, compared to $27,553 for the same period in 2024. For the six months ended June 30, 2025, the loss from operations was $49,781, compared to $66,690 for the same period in 2024.
• Future Outlook: Management plans to secure a merger or acquisition and raise additional capital to optimize shareholder value. However, there is no assurance of success, and failure to achieve these plans could materially affect the company's financial position and ability to continue as a going concern.
• Cash and Liquidity: As of June 30, 2025, the company had cash and cash equivalents of $253,317. Management believes this is sufficient for business activities for at least the next twelve months and for the costs associated with seeking an acquisition of an operating business.

SEC Filing: CHASE PACKAGING CORP [ WHLT ] - 10-Q - Jul. 11, 2025