VisitIQ Corp.

What they do

The most recent 10-K/A is an exhibit-only amendment to the FY2025 Form 10-K and describes no products, customers, or segments, so no reliable description of current operations can be drawn from it. The historical 10-Q MD&A in the source material is that of China Bilingual Technology & Education Group Inc., a PRC K-12 private boarding school operator, which is a different business narrative than the software classification in the filing header. The company's filings through 2026 reference VisitIQ, LLC as a subsidiary and a series of agreements with Arena Investors, LP and Decathlon Alpha V, L.P. On the financial statements alone, the company operates at a loss, ended FY2025 with $107,561 of cash, and had negative shareholder equity of $14.0M.

Revenue drivers

• Reported revenue (segment not disclosed) — FY2025 revenue was $2.6M versus $3.0M in FY2024, so the top line contracted about 13% year over year; no product or segment breakdown is provided in the excerpts.
• Software/Services classification — The company is registered under SIC code 7372, Services-Prepackaged Software, but the filings provided do not describe the software products or how they are sold.
• Financing arrangements — Exhibit 10.1 through 10.15 list secured notes, revenue loans and consulting agreements with Arena Investors, LP and Decathlon Alpha V, L.P., which fund the business but are not themselves operating revenue.

Recent performance

FY2025 revenue was $2.6M, down from $3.0M in FY2024, and the company posted a net loss of $8.0M. Diluted EPS was $(3.16) in FY2025 versus $(1.67) in FY2024, so the loss per share widened even as the net loss narrowed. Operating cash flow improved to negative $2.6M from negative $4.7M in FY2024, but remained negative. At August 31, 2025 the company reported total assets of $3.0M, cash and equivalents of $107,561, and shareholder equity of negative $14.0M. The most recent quarterly revenue figures in the data set, $6.0M for the quarter ended June 30, 2010 and $6.3M for the quarter ended June 30, 2011, are more than a decade old and unrelated to current operations.

Strategy

The filings provided contain no current strategy section; the FY2025 10-K/A is an exhibit-only filing that expressly makes no changes to the financial statements or other disclosures. What is visible is a March 2026 Revenue Loan and Security Agreement and Subordination Agreement with Decathlon Alpha V, L.P., plus a Key Person Agreement covering CEO and interim CFO Vernon Hanzlik. Earlier 2025 financings with Arena Investors, LP include a Security Agreement, Note Purchase Agreements, a Shareholders' Agreement, and a 2025 Incentive Award Plan. The company was also incorporated in Nevada on March 31, 2009 as Designer Export, Inc. and changed its name to China Bilingual Technology & Education Group Inc. on June 30, 2010, reflecting a history of identity changes. No capital expenditure or product roadmap is disclosed in the source material.

Risks

• Going-concern and liquidity — The company ended FY2025 with $107,561 of cash against negative shareholder equity of $14.0M and negative operating cash flow of $2.6M.
• Negative shareholder equity — Shareholder equity was negative $14.0M at August 31, 2025, and a 2012 balance-sheet figure shows total liabilities of $87.1M against a 2025 asset base of only $3.0M.
• Heavy reliance on secured lenders — The exhibit list shows secured notes, security agreements and a March 2026 revenue loan with Arena Investors, LP and Decathlon Alpha V, L.P., which can carry restrictive terms and dilution.
• Key-person and disclosure gaps — Vernon Hanzlik serves as both CEO and interim CFO and is the subject of a Key Person Agreement, while the 10-K/A discloses no products, segments, or customer detail.

Outlook

The FY2025 10-K/A does not provide forward guidance; it is an exhibit-only amendment filed to submit revised SOX certifications (Exhibits 31.1, 31.2, 32.1 and 32.2). The most recent capital events in the source material are the March 26, 2026 revenue loan and subordination agreements with Decathlon Alpha V, L.P. and the Novemver 10, 2025 note purchase agreement with Arena Investors, LP. Those documents indicate continued reliance on outside financing, but no revenue, margin or cash-flow targets are stated. A risk factor excerpt in the historical 10-Q, not the current 10-K/A, notes that the company's cash requirements are significant.