Yellowstone Group Ltd.

What they do

The company was incorporated in Nevada on July 08, 2024, and is headquartered at 48 Janice Street, Seven Hills, Sydney, NSW 2147, Australia. It serves clients with annual turnover under $1 million USD under annual service agreements or, for one client, separate quarterly agreements. Services cover three quarterly financial statements and reports per year plus one annual financial statement and report, including Management's Discussion and Analysis. Yellowstone does not provide audited financial statements or audit opinions; clients engage their own PCAOB-registered auditors.

Revenue drivers

• Annual service agreements — The company states it has entered into an annual service agreement with one of its three clients, covering three quarterly reports and one annual report under a single contract.
• Quarterly one-off service agreements — For a second client, the company enters separate one-off quarterly agreements defining scope and fees for each period rather than a single annual contract.
• Financial statement and report preparation — Revenue comes from preparing quarterly and annual financial statements and reports designed to meet SEC and U.S. OTC market requirements; the 10-Q attributes the June 30, 2026 quarter's $10,166 of revenue to services provided to three Australian and New Zealand companies.

Recent performance

For the three months ended June 30, 2026, the company reported revenue of $10,166 and a net loss of $4,591. General and administrative expenses for the quarter were $14,757, primarily bank charges and professional fees. Revenue rose by $2,499, or 33%, which management attributed to additional financial consulting services provided during the quarter, while operating expenses increased by $8,477 on higher professional fees and depreciation, turning the quarter to a net loss from prior-period net income. Net cash used in operating activities was $12,810 for that quarter, and the company reported $0 from both investing and financing activities. For the full year 2026, XBRL data show revenue of $40,667, net income of -$10,827, and operating cash flow of $10,981.

Strategy

The company's stated model is a service-based business focused exclusively on the financial reporting needs of small, resource-limited Australian and New Zealand issuers on the U.S. OTC markets. Management describes the annual service agreement structure as producing predictable recurring revenue and fostering long-term client relationships. The September 30, 2025 close of the Form S-1 offering raised $36,000 through the sale of 2,400,000 shares at $0.015 per share, with proceeds to be used as stated in the Form S-1. The 10-K reports no off-balance sheet arrangements and total assets of $57,362 against total liabilities of $37,600 at June 30, 2026.

Risks

• Very small client base — The business is built on only three clients, with just one on an annual agreement and one on quarter-by-quarter agreements, so losing any client would directly reduce revenue.
• Narrow client eligibility — The target market is limited to Australian and New Zealand companies with less than $1 million USD annual turnover that are listed or seeking to list on U.S. OTC markets, which constrains the addressable customer pool.
• No audit services offered — Yellowstone prepares only unaudited management accounts, and clients' PCAOB-registered auditors handle audits and opinions, so the company does not capture that portion of compliance spending.
• Limited risk disclosure — The 10-K states the company is a smaller reporting company and is not required to provide Item 1A risk factor information, leaving investors with limited company-specific risk disclosure.

Outlook

The filings do not provide forward guidance or revenue projections. Management's most recent discussion focuses on the June 30, 2026 quarter, in which revenue grew 33% year over year but a net loss was recorded due to higher professional fees and depreciation. The company describes its business model as designed to generate predictable revenue through recurring annual service agreements. It states it will continue to monitor and assess its cybersecurity risk management program and invest in improving such systems as appropriate.