Concrete Leveling Systems, Inc.

What they do

The company was incorporated August 28, 2007, and its principal offices are at 5046 East Boulevard Northwest, Canton, Ohio 44718, operating under the trade name CLS Fabricating, Inc. in Ohio. It occupies roughly 2,500 square feet of office space provided rent-free by its President, Edward A. Barth. The company has reported de minimis revenue in recent years, and management characterizes its business model and strategy around realizing positive results as sales increase. It is also party to a 2017 equity arrangement with Jericho Associates, Inc., a start-up planning to operate in gaming, hospitality and entertainment.

Revenue drivers

• Fabricating operations (CLS Fabricating) — The company's ongoing operations are conducted under the CLS Fabricating trade name; reported annual revenue has been minimal, declining from $3,105 in 2021 to $703 in 2025.
• Cost of sales — Cost of sales was $219 in fiscal 2025 versus $229 in fiscal 2024, against revenue of $703 and $778 respectively.
• Jericho Associates equity arrangement — In March 2017 the company issued 7,151,416 shares (plus 481,000 in July 2017) to Jericho shareholders contingent on Jericho identifying an acquisition opportunity; the shares remain contingent on regulatory review, closing documentation and financing, so this has generated no reported revenue.

Recent performance

Fiscal 2025 revenue was $703, down from $778 in fiscal 2024, with cost of sales of $219 versus $229. Operating expenses rose to $51,597 in fiscal 2025 from $49,349 in fiscal 2024, producing a net loss of $61,390 versus $65,985. For the quarter ended April 30, 2026, revenue was $790, after $150 in the January 2026 quarter and $55,000 in the October 2025 quarter. At April 30, 2026, total assets were $22,819, cash and equivalents were $1,121, and shareholder equity was negative $640,031.

Strategy

Management's stated strategy centers on its business model and strategy for realizing positive results as sales increase, and on developing new projects. The company continues to hold the Jericho Associates arrangement, under which Jericho identified 50% interests in two LLCs that have a Term Sheet agreement to develop a casino and hotel resort and provide gaming equipment on a shared profit basis. Those shares remain contingent on regulatory review, finalization of closing documents and completion of financing. The company has no legal proceedings and has never declared bankruptcy. It also reassesses its office space needs based on future growth.

Risks

• Going concern and liquidity — At April 30, 2026 the company had cash and equivalents of $1,121, total assets of $22,819 and a shareholder deficit of $640,031, and management's own risk factors include whether cash flows from operating activities will be sufficient to meet projected operating expenditures for the next twelve months.
• Minimal revenue base — Annual revenue has fallen every year reported, from $3,105 in 2021 to $703 in 2025, and operating expenses of $51,597 in fiscal 2025 far exceeded revenue.
• Accumulated losses — The company reported net losses of $65,985 in fiscal 2024 and $61,390 in fiscal 2025, with total liabilities of $641,128 against total assets of $19,479 at fiscal year-end 2025.
• Contingent Jericho transaction — The 7,151,416 shares plus 481,000 additional shares issued to Jericho shareholders remain contingent on regulatory review, finalization of closing documentation and completion of financing for a casino and hotel resort project, none of which is assured.

Outlook

Management's discussion notes that the Jericho project is in the process of regulatory review, finalization of closing documents and completion of financing. The company states it will reassess its office space needs based upon future growth. No specific revenue or earnings guidance is provided in the excerpts. The 10-K was filed October 29, 2025 and the latest 10-Q was filed June 22, 2026; the company changed accountants on September 25, 2025 and again on June 12, 2026.