OTC: WHLT
CHASE PACKAGING CORPCIK 0001025771 · SIC 0700 · Agricultural Services
The Company is a Delaware corporation which, prior to 1998, was engaged in the specialty packaging business, primarily as a supplier of packaging products to the agricultural industry. During 1997, the Company commenced an orderly liquidation of its assets which was completed in 1997. At present,… About this business →
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Latest financial statements
From 10-Q filed Jul 28, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed 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 |
|---|---|---|---|---|
| EXPENSES: | ||||
| General and administrative expense | 26,521 | 32,456 | 43,856 | 49,781 |
| LOSS FROM OPERATIONS | (26,521) | (32,456) | (43,856) | (49,781) |
| OTHER INCOME (EXPENSE) | ||||
| Interest and other income | 1,628 | 2,570 | 3,366 | 5,388 |
| Warrants modification expense | — | — | (138,180) | — |
| TOTAL OTHER INCOME (EXPENSE) | 1,628 | 2,570 | (134,814) | (5,388) |
| LOSS BEFORE INCOME TAXES | (24,893) | (29,886) | (178,670) | (44,393) |
| Provision for income taxes | — | — | — | — |
| NET LOSS | (24,893) | (29,886) | (178,670) | (44,393) |
| BASIC AND DILUTED LOSS PER COMMON SHARE | (0.00) | (0.00) | (0.00) | (0.00) |
| BASIC AND DILUTED WEIGHTED AVERAGE COMMON SHARES OUTSTANDING | 61,882,172 | 61,882,172 | 61,882,172 | 61,882,172 |
Condensed Balance Sheets (Unaudited)
| Description | June 30, 2026 | December 31, 2025 |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | 180,726 | 221,966 |
| TOTAL ASSETS | 180,726 | 221,966 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable and accrued liabilities | 3,721 | 4,471 |
| TOTAL CURRENT LIABILITIES | 3,721 | 4,471 |
| COMMITMENTS AND CONTINGENCIES (Note 8) | ||
| STOCKHOLDERS’ EQUITY: | ||
| Preferred stock, $1.00 par value; 4,000,000 authorized: Series A 10% Convertible preferred stock; 50,000 shares authorized; no shares issued and outstanding | — | — |
| Common stock, $0.00001 par value 200,000,000 shares authorized; 62,379,759 shares issued and 61,882,172 outstanding as of June 30, 2026 and December 31, 2025 | 619 | 619 |
| Treasury stock, $0.00001 par value 497,587 shares as of June 30, 2026 and December 31, 2025 | (49,759) | (49,759) |
| Additional paid-in capital | 8,977,547 | 8,839,367 |
| Accumulated deficit | (8,751,402) | (8,572,732) |
| TOTAL STOCKHOLDERS’ EQUITY | 177,005 | 217,495 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 180,726 | 221,966 |
Condensed Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net loss | (178,670) | (44,393) |
| Adjustment to reconcile to net loss to net cash used in operating activities: | ||
| Warrants modification expense | 138,180 | — |
| Change in operating assets and liabilities: | ||
| Accounts payable and accrued expenses | (750) | — |
| Net cash used in operating activities | (41,240) | (44,393) |
| CASH FLOWS FROM INVESTING ACTIVITIES | — | — |
| CASH FLOWS FROM FINANCING ACTIVITIES | — | — |
| NET DECREASE IN CASH | (41,240) | (44,393) |
| Cash, beginning of period | 221,966 | 297,710 |
| CASH, END OF PERIOD | 180,726 | 253,317 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Cash paid for: | ||
| Interest | — | — |
| 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 CHASE PACKAGING CORP
Source: Item 1 (Business) from the 10-K filed March 30, 2026. Description as filed by the company with the SEC.
ITEM 1. BUSINESS.
General
The Company is a Delaware corporation which, prior to 1998, was engaged in the specialty packaging business, primarily as a supplier of packaging products to the agricultural industry. During 1997, the Company commenced an orderly liquidation of its assets which was completed in 1997. At present, management of the Company is seeking to secure a suitable merger partner wishing to go public or to acquire private companies to create investment value for the Company. For purposes of Rule 12b-2 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the Company is considered a shell company.
History
The Company was established in July of 1993 as a wholly-owned subsidiary of Dawson Geophysical Company (“Dawson” and formerly known TGC Industries, Inc.). On July 30, 1993, the Company purchased certain assets of Union Camp Corporation’s packaging division for a purchase price of approximately $6.14 million. Effective July 21, 1997, the Company sold its operations and completed liquidation during 1997.
Post-Liquidation Operations
Since 1999, the Board of Directors has devoted its efforts to establishing a new business or engaging in a merger or other reorganization transaction.