OTC: SNTW
Summit Networks Inc.CIK 0001619096 · SIC 4953 · Refuse Systems
Summit Networks Inc. (together with its subsidiary, the "Company") was incorporated under the laws of the State of Nevada on July 8, 2014. Historically, the Company explored multiple business directions, including product distribution and other commercial initiatives. These activities were limited… 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 | For three months ended June 30, 2026 | For three months ended June 30, 2025 | For six months ended June 30, 2026 | For six months ended June 30, 2025 |
|---|---|---|---|---|
| Revenue | - | 2,535 | - | 2,535 |
| Cost of sales | - | 3,284 | - | 3,284 |
| Gross profit | - | (749) | - | (749) |
| Operating Expenses: | ||||
| General and administrative expenses | 72,069 | 82,069 | 131,006 | 165,051 |
| Loss from operations | (72,069) | (82,818) | (131,006) | (165,800) |
| Other income (expense) | ||||
| Interest expense | (7,783) | (1,923) | (13,606) | (1,923) |
| Loss before income taxes | (79,852) | (84,741) | (144,612) | (167,723) |
| Income tax expenses | - | - | - | - |
| Net Loss | (79,852) | (84,741) | (144,612) | (167,723) |
| Basic net loss per share | (0.001) | (0.001) | (0.002) | (0.002) |
| Diluted net loss per share | (0.001) | (0.001) | (0.002) | (0.002) |
| Weighted average number of common shares outstanding | 68,911,657 | 68,911,657 | 68,911,657 | 68,911,657 |
| Diluted weighted average number of common shares outstanding | 68,911,657 | 68,911,657 | 68,911,657 | 68,911,657 |
Condensed Consolidated Balance Sheets
| Description | June 30, 2026 (Unaudited) | December 31, 2025 (audited) |
|---|---|---|
| Cash and cash equivalents | 145,087 | 94,559 |
| Deposits | 2,218 | 2,218 |
| Prepayments | 27,890 | 15,452 |
| Total Current Assets | 175,195 | 112,229 |
| Non-Current Assets: | ||
| Plant and equipment, net | 3,473 | 4,620 |
| Total Non-Current Assets | 3,473 | 4,620 |
| TOTAL ASSETS | 178,668 | 116,849 |
| LIABILITIES & STOCKHOLDERS’ DEFICIT | ||
| Current Liabilities: | ||
| Accounts payable and accrued expenses | 36,645 | 52,260 |
| Due to related parties | 1,179,102 | 957,056 |
| Total Current Liabilities | 1,215,747 | 1,009,316 |
| Commitments and Contingencies | - | - |
| Stockholders’ Deficit: | ||
| Preferred stock, $0.001 par value, 10,000,000 shares authorized; None issued and outstanding | - | - |
| Common stock, $0.001 par value, 500,000,000 shares authorized; 68,911,657 shares issued and outstanding as at June 30, 2026 and December 31, 2025 | 68,912 | 68,912 |
| Additional paid-in capital | 878,755 | 878,755 |
| Accumulated deficit | (1,984,746) | (1,840,134) |
| Total Stockholders’ Deficit | (1,037,079) | (892,467) |
| TOTAL LIABILITIES & STOCKHOLDERS’ DEFICIT | 178,668 | 116,849 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | For six months ended June 30, 2026 | For six months ended June 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | (144,612) | (167,723) |
| Adjustments to reconcile net loss to cash flows in operating activities | ||
| Depreciation of fixed assets | 1,147 | 1,351 |
| Shares issued for service | 6,147 | 26,044 |
| Changes in operating assets and liabilities: | ||
| Account receivables | - | (739) |
| Deposits | - | - |
| Prepayments | (18,585) | 5,633 |
| Accounts payable and accrued expenses | (15,615) | (3,267) |
| Deferred revenue | - | 3,484 |
| Net cash used in operating activities | (171,518) | (135,217) |
| CASH FLOWS FROM INVESTING ACTIVITY: | ||
| Purchase of equipment | - | (6,879) |
| Net cash used in investing activity | - | (6,879) |
| CASH FLOWS FROM FINANCING ACTIVITY: | ||
| Proceeds from loan from related parties | 242,046 | 118,530 |
| Repayments to related parties | (20,000) | - |
| Net cash generated from financing activities | 222,046 | 118,530 |
| Net increase (decrease) in cash and cash equivalents | 50,528 | (23,566) |
| Cash and cash equivalents at beginning of the period | 94,559 | 39,230 |
| Cash and cash equivalents at end of the period | 145,087 | 15,664 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid during the period for: | ||
| Interest | 13,606 | 945 |
| Income taxes | - | - |
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 Summit Networks Inc.
Source: Item 1 (Business) from the 10-K filed April 24, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS
Corporate Background and General Strategic
Overview
Summit Networks Inc. (together with its subsidiary,
the "Company") was incorporated under the laws of the State of Nevada on July 8, 2014. Historically, the Company explored multiple
business directions, including product distribution and other commercial initiatives. These activities were limited in scale and did not
result in sustained operating revenues.
During fiscal 2025, the Company completed a defined
phase of internal development focused on organizational structuring, governance enhancement, and evaluation of operational direction.
These activities were designed as preparatory work and were not intended to represent ongoing commercial operations.
1.Current Business Strategy
The Company is currently in a strategic transition
phase. Management’s primary focus is to pursue controlling acquisitions of cash-flow generating logistics enterprises, primarily
in Asia.
The Company intends to enhance the operational
performance of acquired businesses through standardized governance, financial discipline, and selective digital integration. These capabilities
were developed during the Company’s internal development phase and are expected to support post-acquisition integration and operational
efficiency.
The Company is positioning itself as a capital-efficient
acquisition platform within the logistics sector. Management has initiated preliminary evaluation and engagement with potential acquisition
targets; however, no definitive agreements have been executed as of the date of this report.
Read full description ↓
2.Strategic Positioning
The Company’s long-term objective is to
build a scalable logistics-focused platform through disciplined acquisitions. Rather than relying on organic growth from a single operating
business, the Company intends to expand through the acquisition of established, revenue-generating enterprises.
This approach is designed to:
●Establish a stable cash flow base
●Improve operational efficiency across acquired entities
●Enhance long-term shareholder value through structured growth
There can be no assurance that any acquisition
will be completed or that the Company will be successful in executing its strategy.
3.Competition
The logistics industry is highly competitive and
fragmented, particularly in Asia. The Company expects to compete with existing logistics operators, regional service providers, and other
acquisition-focused platforms. The Company’s ability to compete will depend on its access to capital, execution capability, and
ability to identify suitable acquisition targets.
4.Regulatory Considerations
The Company’s potential acquisition activities
may be subject to regulatory approvals in relevant jurisdictions. In addition, as a public reporting company in the United States, the
Company is subject to ongoing reporting and compliance obligations under applicable securities laws.
5.Employees
As of December 31, 2025, the Company does not
have a large employee base and relies on a combination of management oversight and external professional services. The Company expects
to expand its operational capabilities following the completion of any acquisition transactions.