OTC: SWRD
Stewards, Inc.CIK 0001795851 · SIC 6153 · Short-Term Business Credit
Small by assets
Assets $174M
as of Aug 16, 2026
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424B3
Filed Aug 27, 2026
Summary not yet generated.
8-K
Filed Aug 25, 2026
· Period ending Aug 19, 2026
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424B3
Filed Aug 19, 2026
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10-Q
Filed Aug 14, 2026
· Period ending Jun 30, 2026
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424B3
Filed Aug 10, 2026
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8-K
Filed Aug 7, 2026
· Period ending Aug 5, 2026
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424B3
Filed Jul 31, 2026
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8-K
Filed Jul 30, 2026
· Period ending Jul 24, 2026
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424B3
Filed Jul 16, 2026
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S-1/A
Filed Jul 1, 2026
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S-1/A
Filed Jun 12, 2026
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S-1/A
Filed Jun 1, 2026
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S-1
Filed Nov 17, 2025
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8-K
Filed Feb 4, 2020
· Period ending Jan 31, 2020
Summary not yet generated.
Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited)
(in thousands, except per share data)
| 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 | ||||
| Income, financing and brokerage | 1,069 | 3,315 | 2,539 | 6,680 |
| Income from rental property | 2,399 | — | 4,783 | — |
| Total revenues | 3,468 | 3,315 | 7,322 | 6,680 |
| Cost of revenue | ||||
| Financing and brokerage | 197 | 722 | 471 | 1,376 |
| Rental property | 1,476 | — | 2,782 | — |
| Total cost of revenue | 1,673 | 722 | 3,253 | 1,376 |
| Gross profit | 1,795 | 2,593 | 4,069 | 5,304 |
| Operating expenses | ||||
| General and administrative expenses | 2,987 | 2,097 | 5,742 | 4,058 |
| Provision (benefit) for credit losses | (51) | 481 | 251 | 1,047 |
| Depreciation and amortization | 1,928 | 61 | 4,320 | 123 |
| Professional fees | 901 | 753 | 1,924 | 1,327 |
| Total operating expenses | 5,765 | 3,392 | 12,237 | 6,555 |
| Loss from operations | (3,970) | (799) | (8,168) | (1,251) |
| Other income (expense) | ||||
| Interest expense | (3,348) | (1,488) | (6,078) | (2,783) |
| Financing charges (income) | 57 | 84 | (34) | 65 |
| Change in fair value of warrant liabilities | (57) | — | 1,364 | — |
| Other gain (loss) | 82 | (4) | (27) | (12) |
| Total other income (expense) | (3,266) | (1,408) | (4,775) | (2,730) |
| Net loss before income taxes | (7,236) | (2,207) | (12,943) | (3,981) |
| Income tax provision | — | — | — | — |
| Net loss | (7,236) | (2,207) | (12,943) | (3,981) |
| Amounts attributable to Stewards, Inc. | ||||
| Net loss | (7,236) | (2,207) | (12,943) | (3,981) |
| Dividend on preferred stock | (695) | (210) | (1,342) | (349) |
| Net loss applicable to common stockholders | (7,931) | (2,417) | (14,285) | (4,330) |
| Net Loss Per Common Share basic and diluted | (0.04) | (0.02) | (0.07) | (0.04) |
| Weighted-Average Common Shares Outstanding basic and diluted | 209,124 | 112,639 | 208,881 | 106,509 |
| Comprehensive Loss | ||||
| Net loss | (7,236) | (2,207) | (12,943) | (3,981) |
| Unrealized gain (loss) on foreign currency translation | — | — | — | 2 |
| Total comprehensive loss | (7,236) | (2,207) | (12,943) | (3,979) |
Condensed Consolidated Balance Sheets (Unaudited)
(in thousands, except share data)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS | ||
| Cash, cash equivalents | 1,096 | 4,904 |
| Restricted cash | 3,715 | 3,274 |
| Advance receivables, net | 4,948 | 7,237 |
| Prepaid expense | 728 | 516 |
| Loan commitment asset | 3,719 | 6,710 |
| Due from related parties | 64 | 139 |
| Note receivable current | 1,706 | — |
| Other current assets | 549 | 667 |
| Total current assets | 16,525 | 23,447 |
| NON-CURRENT ASSETS | ||
| Fixed assets, net | 154,067 | 150,992 |
| Operating lease right-of-use asset | 18 | 46 |
| Intangible assets, net | 985 | 2,508 |
| Goodwill | 1,219 | 1,219 |
| Other assets | 1,162 | 151 |
| TOTAL ASSETS | 173,976 | 178,363 |
| LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES | ||
| Accounts payable and accrued liabilities | 7,302 | 6,248 |
| Syndicate payable | 3,231 | 4,356 |
| Due to related parties current | 1,883 | 1,850 |
| Deferred consideration current | 270 | 214 |
| Operating lease liabilities current | 15 | 40 |
| Notes payable, net current | 2,622 | 2,722 |
| Warrant liability | 3,719 | 8,230 |
| Mortgage loan current | — | 73,625 |
| Other current liabilities | 329 | 301 |
| Total current liabilities | 19,371 | 97,586 |
| NON-CURRENT LIABILITIES | ||
| Deferred consideration | 39 | 185 |
| Notes payable, net | 38,761 | 34,620 |
| Mortgage loan | 77,588 | — |
| Other non-current liabilities | 291 | 309 |
| Total liabilities | 136,050 | 132,700 |
| Commitments and contingencies (Note 14) | ||
| MEZZANINE EQUITY | ||
| Redeemable nonparticipating noncontrolling interest | 8,462 | 8,462 |
| STOCKHOLDERS’ EQUITY | ||
| Series A preferred stock, par value $0.0001 per share; 71,250,000 and 71,250,000 shares authorized, issued and outstanding as of June 30, 2026 and December 31, 2025 | 7 | 7 |
| Series B preferred stock, par value $0.0001 per share; 10,000,000 shares authorized; 10,000,000 shares issued and outstanding as of June 30, 2026 and December 31, 2025 | 1 | 1 |
| Common stock, par value $0.0001 per share; 500,000,000 shares authorized; 211,133,297 and 207,102,106 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively | 21 | 21 |
| Paid-in capital | 73,619 | 67,396 |
| Stock subscription receivable | — | (521) |
| Accumulated deficit | (71,639) | (58,201) |
| Accumulated other comprehensive income | 3 | 3 |
| Nonparticipating noncontrolling interest | 27,452 | 28,495 |
| Total stockholders’ equity | 29,464 | 37,201 |
| TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS’ EQUITY | 173,976 | 178,363 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash Flows From Operating Activities | ||
| Net loss | (12,943) | (4,330) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 2,797 | 26 |
| Amortization of intangible assets | 1,523 | 97 |
| Issuance of common stock and warrants related to registration rights payment arrangement | — | 151 |
| Change in fair value of warrant liabilities | (1,364) | — |
| Amortization of debt issuance costs | 231 | 38 |
| Interest expense on deferred consideration | 26 | 38 |
| Operating lease right-of-use asset amortization | 28 | 65 |
| Provision for credit losses | 251 | 1,047 |
| Stock based compensation | 59 | — |
| Amortization of stock subscription receivable | 521 | 625 |
| Other income (losses) | — | 3 |
| Changes in assets and liabilities: | ||
| Advance receivables, net | 2,039 | (2,084) |
| Prepaid expenses and other current assets | (94) | (230) |
| Accounts payable and accrued liabilities | 585 | (266) |
| Syndicate payable | (1,124) | (354) |
| Due from related parties | 74 | (9) |
| Note receivable current | (1,706) | — |
| Other non-current assets | (1,011) | — |
| Other non-current liabilities | (18) | — |
| Due to a related party | 33 | — |
| Operating lease liabilities | (25) | (58) |
| Net cash used in operating activities | (10,118) | (5,241) |
| Cash Flows From Investing Activities | ||
| Purchase of property and equipment | (5,872) | (20) |
| Payment of deferred consideration | (115) | (115) |
| Advanced payment for acquisition | — | (5,000) |
| Net cash used in investing activities | (5,987) | (5,135) |
| Cash Flows From Financing Activities | ||
| Proceeds from notes payable | 6,900 | 2,125 |
| Repayment of notes payable | (100) | — |
| Repayment of promissory notes payable, related party | — | (1,600) |
| Proceeds from mortgage loan | 3,963 | — |
| Proceeds from the issuance of Series A preferred stock | — | 8,000 |
| Proceeds from the issuance of common stock | 1,975 | — |
| Net cash provided by financing activities | 12,738 | 8,525 |
| Net change in cash, cash equivalents and restricted cash | (3,367) | (1,851) |
| Cash, Cash Equivalents and Restricted Cash, Beginning | 8,178 | 2,751 |
| Cash, Cash Equivalents and Restricted Cash, Ending | 4,811 | 900 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
| Cash paid for interest | 5,048 | 2,521 |
| Cash paid for income taxes | — | — |
| SUPPLEMENTAL NON-CASH INVESTING AND FINANCING ACTIVITIES | ||
| Amortization of loan commitment asset to debt discount | 2,990 | — |
| Reclassification of liability classified warrants to equity | 3,147 | — |
Amounts as printed on the EDGAR/iXBRL face — (in thousands, except per share data); (in thousands, except share data); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗