Alphega Innovations Deepens Net Loss to $1.18M in Q1 2026 as Legal Costs Surge

Alphega Innovations Corp, a development-stage company, reported a net loss of $1.18 million for the three months ended February 28, 2026, nearly double the $613,208 loss posted in the same period a year earlier. The company generated no revenue in either period. Read more earnings reports.

Total expenses climbed 92% to $1.17 million from $612,810 in the prior-year quarter, driven primarily by a sharp increase in legal and professional services costs. Those expenses jumped to $840,729 from $548,210 year-over-year, while consulting fees more than doubled to $140,250 from $64,600.

The company also recorded a $144,666 loss on settlement of service during the quarter, a charge not present in the prior year. New line items this quarter included $23,800 each for advertising and marketing and training expenses.

Alphega's cash position improved modestly to $6,721 at February 28, 2026, from $2,070 at November 30, 2025, despite burning $35,349 in operating activities. The company plugged the gap with a $40,000 loan from a related party during the quarter.

Total liabilities swelled to $3.26 million at quarter-end from $2.24 million three months earlier, driven by a $887,148 increase in amounts due to related parties, which reached $2.77 million. Accounts payable and accrued liabilities rose to $403,283 from $309,927.

The company's stockholders' deficit widened to $3.25 million from $2.24 million at the end of November. During the quarter, Alphega issued 160,740 shares of common stock valued at $160,740 for services rendered. Total shares outstanding rose to 14,830,740 from 14,670,000.

Basic and diluted net loss per share reached $0.08, up from $0.04 in the year-ago quarter, based on weighted average shares outstanding of 14,749,666 versus 14,670,000 last year.

Financial Summary

*Comparison is to November 30, 2025