Public Company Management Corp.

What they do

PCMC was incorporated in 2000 as MyOffiz, Inc. and renamed in 2004; it formerly operated as a management consulting firm serving small businesses on capital-market entry, governance and SEC compliance. Those services were delivered primarily through subsidiaries GoPublicToday.com, Inc., Pubco WhitePapers, Inc., Public Company Management Services, Inc. and Nevada Management Corporation, Inc., with fees paid in cash and restricted client stock. Per the 10-K, the company has been a shell company since October 1, 2012, with no reported revenue.

Revenue drivers

• Consulting services (former business) — Historically revenue came from flat-fee consulting to private clients seeking to become fully reporting public companies; the 10-K describes this in the past tense and the latest statements report no revenue.
• Regulatory compliance services (former business) — Historically PCMC also earned fees providing periodic SEC reporting and compliance services to public company clients, paid in cash and restricted shares of client stock.
• Current: none reported — The statements of operations show revenues of $0 for the three and nine months ended June 30, 2026 and 2025; the shell has no operating revenue line.

Recent performance

For the nine months ended June 30, 2026, PCMC reported revenues of $0 and general and administrative expenses of $117,498, versus $59,481 in the prior-year period. Annual net losses widened each year from $21,740 in 2021 to $103,817 in 2025, and operating cash flow was negative $165,630 in 2025. At June 30, 2026 the balance sheet showed total assets of $6,692 (all cash), total liabilities of $329,543 and stockholders' deficit of $322,851. Cash fell from $234,405 at September 30, 2025 to $6,692 at June 30, 2026, and the September 30, 2025 balances included a $33,237 note receivable and a $350,000 related-party note payable.

Strategy

Management states the company's sole purpose is to locate and consummate a merger or acquisition with a private entity that generates revenues, in exchange for its securities, with no industry limitation. The 10-K discloses that the company has entered preliminary and substantive discussions with the controlling shareholder of Physicians Capital Management Corporation, a Maryland corporation that acquires and develops healthcare facilities and leases them to healthcare operators under long-term net leases. Management states these discussions are exploratory, that no definitive agreement has been reached and that due diligence, regulatory considerations and final terms remain subject to review. A Form 8-K dated July 6, 2026 reports a material agreement, and charter amendments were reported in March and April 2026. The annual report also notes the company actively began researching entities specializing in conceptualization, planning, financing, construction and management of commercial, industrial or mixed-use properties.

Risks

• No identified target — The 10-K risk factors state the company has not clearly identified a target business, so shareholders are relying on management to source any transaction.
• Related-party liabilities — At June 30, 2026, liabilities of $329,543 included $279,484 of related-party notes payable and $18,499 of related-party accounts payable, while cash was only $6,692.
• Cash runway — Cash fell from $234,405 at September 30, 2025 to $6,692 at June 30, 2026, while operating cash use was $165,630 in fiscal 2025, indicating dependence on further financing.
• Penny stock and forward-looking statement protection — The 10-K cautionary language states that safe harbor provisions under federal securities law may not apply to an issuer that issues penny stock.

Outlook

Management states the company remains a shell whose purpose is to locate and consummate a merger or acquisition with a private entity that generates revenues, and it confirms preliminary, non-binding discussions involving a potential combination with the controlling shareholder of Physicians Capital Management Corporation. No definitive agreement has been reached, and completion is not assured given outstanding due diligence, regulatory considerations and final terms. The 10-K also warns that COVID-19 or future public health events could delay or impair the ability to negotiate and complete a transaction in a timely manner.