NetBrands Corp.

What they do

NetBrands Corp. was incorporated in 2017 as Dense Forest Acquisition Corporation, renamed Global Diversified Marketing Group Inc. in 2018, and renamed NetBrands Corp. in March 2023. Its wholly owned operating subsidiary, Global Diversified Holdings, Inc., is a New York snack and gourmet food company acquired on November 26, 2018. The company states it is entering industrial-scale crypto mining through procurement of next-generation ASICs and seeks M&A and joint venture opportunities in blockchain, digital, and Web 3.0 verticals.

Revenue drivers

• Snack and gourmet food operations (Global Diversified Holdings) — The company's only described operating subsidiary is a New York snack and gourmet food business acquired in November 2018; the filings describe a plan to develop and market healthy snack foods.
• Crypto mining (planned) — The company states it is entering industrial-scale bitcoin mining through procurement of next-generation mining equipment (ASICs), but the filings do not report any mining revenue to date.
• M&A / joint ventures in blockchain and Web 3.0 (planned) — The company states it seeks M&A and joint venture opportunities in blockchain, digital, and Web 3.0 verticals, but no completed transaction or revenue contribution is disclosed.

Recent performance

Revenue has fallen sharply over the reported periods: $1.7M in 2020, $2.7M in 2021, $1.6M in 2022, $644,535 in 2023, and $18,265 in 2025. The most recent quarters shown are $7,110 for the quarter ended 2025-09-30 and $13,816 for the quarter ended 2026-03-31. Net losses were $1.2M in 2021, $1.1M in 2022, $1.3M in 2023, $1.3M in 2024, and $1.7M in 2025. Operating cash flow was negative in every year shown, most recently -$336,907 in 2025. At 2026-03-31, total assets were $91,180, total liabilities were $3.0M, shareholder equity was -$2.9M, and cash and equivalents were $11,802.

Strategy

The company says it intends to seek, investigate and, if warranted, engage in a business combination with a private entity, without restricting candidates to the digital and Web 3.0 industry or a particular geography. It also states it is entering industrial-scale bitcoin mining through procurement of next-generation ASICs and is pursuing M&A and JV opportunities in blockchain and Web 3.0. A March 29, 2023 charter amendment changed the company name to NetBrands Corp. to reflect a planned expansion of its digital business. Since the last 10-K, the company reported a material agreement on 2025-11-05 and another on 2025-07-29, a charter or bylaws amendment on 2025-09-10, and accountant changes on 2025-04-10 and 2026-04-01.

Risks

• Going concern and negative equity — At 2026-03-31, total liabilities were $3.0M against total assets of $91,180, producing shareholder equity of -$2.9M, and the filings list ability to continue as a going concern as a risk.
• Bitcoin price volatility — The company states the cost to mine a bitcoin is independent of the then-current price, so low prices can consume available cash and reduce profitability dollar-for-dollar.
• Minimal revenue base — Annual revenue fell to $18,265 in 2025 and the latest quarter was $13,816, leaving very little operating scale relative to reported liabilities.
• Financing and limited operating history — The filings list ability to obtain financing necessary to operate the business and limited operating history among the factors that could cause actual results to differ.

Outlook

Management states it intends to seek, investigate and, if warranted, engage in a business combination with a private entity, without restricting candidates by industry or geography. The company also states it is entering industrial-scale bitcoin mining through procurement of next-generation ASICs and seeks M&A and JV opportunities in blockchain, digital and Web 3.0. The filings do not provide revenue or profitability projections, and management notes bitcoin volatility makes it unable to accurately forecast revenue and profitability for any reporting period.