revenue $921,940, net income -$2.8M. Nomadar debuts on Nasdaq with cash, deficit, and substantial going concern doubt

Filed March 31, 2026 · Period ending December 31, 2025 · ~2 min read

Key Changes

• high

  Company reports $78,000 cash against $4 million working capital deficit and $4.2 million accumulated deficit. Management explicitly states substantial doubt about ability to continue as going concern for next twelve months.

  MD&A: Financial Condition verify on EDGAR →
• high

  Flagship JP Financial Arena project requires €285 million ($334M) in funding but company lacks committed capital. Construction timeline 2027-2031 depends entirely on future financing that management cannot consider probable.

  Business: JP Financial Arena verify on EDGAR →
• high

  Material weaknesses identified in financial close and reporting processes; disclosure controls deemed ineffective as of December 31, 2025. Remediation efforts ongoing but not yet complete.

  Controls & Procedures verify on EDGAR →