OTC: FSTJ
First America Resources CorpCIK 0001525306 · SIC 5065 · Electronic Parts & Equipment
First America Resources Corporation (the “Company,” “we,” “us,” or “our”) was incorporated in the State of Nevada in 2010 under the name Golden Oasis New Energy Group, Inc. In 2014, the Company changed its name to First America Resources Corporation. About this business →
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Latest financial statements
From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenues | 5,788,731 | 4,822,842 | 10,590,029 | 8,847,835 |
| Cost of revenues | 2,534,405 | 2,343,044 | 4,312,319 | 4,095,204 |
| Gross profit | 3,254,326 | 2,479,798 | 6,277,710 | 4,752,631 |
| Operating expenses | ||||
| General and administrative | 625,022 | 694,631 | 1,337,599 | 1,253,131 |
| Payroll expenses | 1,482,189 | 1,261,144 | 2,822,573 | 2,375,853 |
| Professional fees | 82,870 | 86,369 | 173,348 | 145,715 |
| Advertising and marketing | 27,844 | 32,564 | 63,692 | 73,966 |
| Rent and lease | 473,411 | 440,928 | 971,129 | 867,506 |
| Depreciation and amortization | 18,003 | 18,933 | 36,536 | 36,892 |
| Total operating expenses | 2,709,339 | 2,534,569 | 5,404,877 | 4,753,063 |
| Income (loss) from operations | 544,987 | (54,771) | 872,833 | (432) |
| Other income (expense) | ||||
| Interest expense | (30,399) | (35,875) | (63,072) | (61,789) |
| Other income | 2,630 | 2,769 | 4,687 | 349,473 |
| Total other income (expense) | (27,769) | (33,106) | (58,385) | 287,684 |
| Income (loss) before provision for income taxes | 517,218 | (87,877) | 814,448 | 287,252 |
| Provision for income taxes | 34,207 | - | 34,207 | - |
| Net income (loss) | 483,011 | (87,877) | 780,241 | 287,252 |
| Income (loss) per share basic and diluted | 0.01 | 0.00 | 0.01 | 0.00 |
| Weighted average shares outstanding basic and diluted | 87,964,090 | 87,964,090 | 87,964,090 | 87,964,090 |
Condensed Consolidated Balance Sheets (Unaudited)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash | 524,504 | 276,855 |
| Accounts receivable, net | 1,583,194 | 2,141,220 |
| Accounts receivable, related party, First America Metal Corp. | 1,058,175 | 318,273 |
| Prepaid expenses | 55,332 | 37,439 |
| Total current assets | 3,221,205 | 2,773,787 |
| Long term assets | ||
| Property and equipment, net | 346,579 | 372,508 |
| Right of use assets | 3,904,266 | 2,254,214 |
| Goodwill | 750,000 | 750,000 |
| Deposits | 427,308 | 513,630 |
| Total long term assets | 5,428,153 | 3,890,352 |
| Total assets | 8,649,358 | 6,664,139 |
| Liabilities and Stockholders' Deficit | ||
| Current liabilities | ||
| Accounts payable | 1,330,775 | 1,100,608 |
| Accounts payable, related party, First America Metal Corp. | 886,563 | 1,159,571 |
| Accrued expenses | 974,422 | 1,358,912 |
| Accrued interest | 56,917 | 21,062 |
| Lease liability, current portion | 877,736 | 851,191 |
| Loans from officer | 228,933 | 228,933 |
| Notes payable, current portion | 1,347,273 | 1,093,031 |
| Total current liabilities | 5,702,619 | 5,813,308 |
| Lease liability, net of current portion | 3,140,196 | 1,479,796 |
| Notes payable, net of current portion | 614,229 | 958,962 |
| Total liabilities | 9,457,044 | 8,252,066 |
| Commitments and contingencies (Note 3) | ||
| Stockholders' deficit | ||
| Common stock $0.001 par value; 500,000,000 authorized; 87,964,090 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 87,964 | 87,964 |
| Additional paid-in capital | 1,535,266 | 1,535,266 |
| Accumulated deficit | (2,430,916) | (3,211,157) |
| Total stockholders' deficit | (807,686) | (1,587,927) |
| Total liabilities and stockholders' deficit | 8,649,358 | 6,664,139 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Operating activities | ||
| Net income | 780,241 | 287,252 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 36,536 | 36,892 |
| Bad debt expense | 4,000 | 154,953 |
| Financed repair costs | - | 28,004 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (185,876) | (1,173,493) |
| Deposits | 86,322 | (23,993) |
| Prepaid expenses | (17,893) | 148,640 |
| Accounts payable | (42,841) | 664,331 |
| Accrued expenses | (384,490) | (221,295) |
| Accrued interest | 35,855 | (5,073) |
| Right of use assets and lease liabilities | 36,893 | (820) |
| Financed insurance policy | - | (145,346) |
| Net cash provided by (used in) operating activities | 348,747 | (249,948) |
| Investing activities | ||
| Cash paid for property and equipment | (10,607) | - |
| Net cash used in investing activities | (10,607) | - |
| Financing activities | ||
| Proceeds from notes payable | - | 150,000 |
| Repayments of notes payable | (90,491) | (208,269) |
| Net cash used in financing activities | (90,491) | (58,269) |
| Net increase (decrease) in cash | 247,649 | (308,217) |
| Cash beginning of period | 276,855 | 459,022 |
| Cash end of period | 524,504 | 150,805 |
| Cash paid for income taxes | - | - |
| Cash paid for interest | 27,217 | 66,862 |
| Supplemental schedule of non-cash investing and financing activities | ||
| Recognition of right of use asset and lease liability | 2,315,008 | - |
| Accounts payable settled through the issuance of notes payable | - | 500,000 |
| Financed property and equipment | - | 86,117 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About First America Resources Corp
Source: Item 1 (Business) from the 10-K filed April 1, 2026. Description as filed by the company with the SEC.
Item 1. Business
Corporate History
First America Resources Corporation (the “Company,” “we,” “us,” or “our”) was incorporated in the State of Nevada in 2010 under the name Golden Oasis New Energy Group, Inc. In 2014, the Company changed its name to First America Resources Corporation.
The Company’s principal executive offices are located at 1000 East Armstrong Street, Morris, Illinois 60450, and its telephone number is (815) 941-9888.
METech Recycling, Inc. (“METech Recycling” or “METech”), our wholly owned subsidiary, is headquartered in Gilroy, California and has been engaged in recycling operations since 1968, with business origins dating back to 1875 in precious metal recovery and refining activities.
Following the business combination described in the Company’s Report on Form 8-K dated July 18, 2025, METech Recycling operates as a wholly owned subsidiary of the Company and represents the Company’s operating business.
Technology and Data‑Driven Processing
The Company utilizes internally developed and commercially available software systems to support operational decision‑making, asset tracking, and materials processing. These systems incorporate automated data analysis tools designed to assist with equipment identification, materials classification, inventory management, and pricing evaluation.
The Company has implemented technology‑assisted sorting and evaluation tools that use machine learning techniques to improve the identification and classification of incoming electronic equipment and components. These systems support operational workflows by assisting personnel in determining whether equipment is suitable for refurbishment, resale, or recycling.
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In addition, the Company utilizes data analytics and algorithmic pricing models to evaluate secondary market pricing for refurbished equipment and electronic components. These tools assist management in evaluating resale opportunities and optimizing recovery value from IT assets.
The Company continues to evaluate the use of automation and data‑driven tools, including artificial intelligence‑based systems, to improve operational efficiency, asset classification, and materials recovery processes.
Overview of Our Business
The Company operates in the IT asset disposition (“ITAD”) and electronics recycling industry. Our services include refurbishment and resale of IT equipment, secure data destruction, electronics recycling and material recovery, data center decommissioning, and lifecycle management of technology assets.
We refurbish electronic equipment and recover usable components and materials from end‑of‑life devices. Refurbishable equipment is tested, sanitized, and resold through secondary markets, while non‑usable equipment is processed for material recovery.
Products handled by the Company include laptops, desktop computers, servers, networking equipment, SAN and NAS storage systems, telecommunications equipment, monitors, storage devices, processors, memory, and other IT components used in enterprise and industrial applications.
Our Services
IT Asset Disposition (ITAD)
We provide enterprise IT asset disposition services including equipment collection, logistics coordination, asset tracking, equipment testing, data destruction, refurbishment, resale preparation, and responsible recycling.
Data Security
Data-bearing devices are sanitized or destroyed in accordance with recognized industry standards including NIST Special Publication 800-88 Guidelines for Media Sanitization and U.S. Department of Defense (DoD) 5220.22-M standards.
Artificial Intelligence Infrastructure Lifecycle Services
The Company provides services related to the retirement and replacement of computing infrastructure associated with artificial intelligence and high-performance computing environments. As enterprises upgrade data center infrastructure to support artificial intelligence workloads, the Company assists customers with the removal, transportation, and processing of legacy servers, storage systems, and networking equipment.
These projects typically involve large-scale server decommissioning and asset disposition activities associated with the replacement of conventional computing infrastructure with AI optimized hardware. The Company provides logistics coordination, asset tracking, equipment testing, data sanitization, and recycling services for these systems.
Equipment removed from AI-related infrastructure upgrades is evaluated for refurbishment, resale in secondary markets, or material recovery through the Company’s electronics recycling processes.
Data Center Decommissioning
We assist customers with data center infrastructure upgrades and decommissioning projects, including removal, transportation, and secure processing of servers and networking equipment.
Electronics Recycling
Non-refurbishable equipment is dismantled and processed using mechanical separation technologies designed to recover metals and other materials.
Renewable Energy and Emerging Technology Recycling
The Company also processes certain emerging technology equipment including solar panels, electric vehicle batteries, and high-performance computing systems.
Customers
The Company serves a diverse customer base across several sectors including technology companies, telecommunications providers, defense contractors, educational institutions, and government agencies.
A significant portion of the electronic equipment processed by the Company originates from enterprise IT asset disposition programs and data center decommissioning projects.
The Company has established relationships with large enterprise organizations, including companies that are components of the Fortune 500, which utilize the Company’s services for IT asset disposition, electronics recycling, and technology lifecycle management.
Competition
The electronics recycling and IT asset disposition industry is competitive and includes regional, national, and international operators engaged in electronics recycling, IT asset management, and materials recovery services.
Some competitors may have greater financial resources or broader geographic coverage than the Company.
The Company seeks to compete based on several operational factors including the use of data‑driven processing systems that assist with equipment classification and pricing analysis, established enterprise customer relationships, compliance with environmental and data security standards, and operational locations positioned to support customers across multiple regions of the United States.
Through its operational network and logistics capabilities, the Company is able to provide service coverage to customers across a substantial portion of the United States.
Properties and Operational Assets
The Company operates facilities used for electronics processing, refurbishment, logistics, and administrative functions.
The Company’s principal processing facility and headquarters are located in Gilroy, California. Additional operational locations support logistics, asset management, and processing activities in several states including Utah, Colorado, Massachusetts, and North Carolina.
In addition to its physical facilities, the Company utilizes operational systems and technology infrastructure that support asset tracking, logistics coordination, and data‑driven processing workflows.
The Company has developed internal systems that incorporate automated sorting tools, asset tracking platforms, and pricing analysis models designed to assist management in evaluating resale and recycling opportunities for incoming equipment.
The Company believes that its operational infrastructure, technology systems, and management experience support the efficient processing and recovery of electronic equipment.
Government Regulation
Our operations are subject to federal, state, and local regulations governing environmental protection, hazardous materials management, workplace safety, and transportation of electronic waste.
Applicable regulations include the Resource Conservation and Recovery Act (RCRA), Environmental Protection Agency (EPA) regulations, Occupational Safety and Health Administration (OSHA) standards, and California Department of Toxic Substances Control (DTSC) oversight.
Environmental Matters
The Company handles electronic equipment that may contain regulated materials and maintains environmental compliance programs designed to ensure compliance with applicable environmental regulations. These programs include environmental health and safety oversight, hazardous materials tracking and reporting, employee training, internal inspections, and relationships with licensed waste disposal vendors.
Human Capital Resources
As of the date of this report, the Company employs approximately 60 full‑time employees across executive management, finance, environmental health and safety, sales and marketing, operations and logistics, customer service, and information technology functions.