I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 0.
EPS: As of FY2026 Q1, the actual value is USD 0.
EBIT: As of FY2026 Q1, the actual value is USD -1.717 M.
Financial Performance (Continuing Operations)
Revenue and Gross Profit
TAP Real Estate Technologies, Inc. reported no revenues, cost of revenues, or gross profit for its continuing operations for both the three months ended March 31, 2026, and March 31, 2025.
Operating Expenses
Total operating expenses increased to $1,752,247 for the three months ended March 31, 2026, from $1,380,493 for the same period in 2025, marking an increase of $371,754. Professional Fees: Decreased to $193,588 in 2026 from $391,861 in 2025, primarily due to lower regulatory filing and consultant costs in 2026. General and Administrative Expenses: Increased by $570,027 to $1,558,659 in 2026 from $988,632 in 2025, mainly driven by increases in stock-based compensation from new employment agreements, partially offset by reduced payroll, travel, and other operational costs during the transition to TAP Real Estate Technologies, Inc.
Non-Operating Income (Expense)
Total non-operating expenses decreased by $1,393,782 to - $1,211,029 for the three months ended March 31, 2026, compared to - $2,604,811 for the same period in 2025. Interest Expense: Decreased significantly to - $35,504 in 2026 from - $1,267,822 in 2025. Amortization of Debt Discounts: Increased to - $342,828 in 2026 from - $117,474 in 2025. Loss on Investee: Was $0 in 2026, down from - $68,165 in 2025. Change in Fair Value of Derivative Liabilities: Showed a gain of $176,839 in 2026, up from a gain of $11,573 in 2025. Derivative Expense: Increased to - $706,806 in 2026 from - $585,608 in 2025. Loss on Conversion of Convertible Notes Payable and Exchange of Warrants: Decreased to - $302,730 in 2026 from - $577,315 in 2025.
Net Loss from Continuing Operations
The net loss from continuing operations decreased by $1,022,028 to - $2,963,276 for the three months ended March 31, 2026, compared to - $3,985,304 for the same period in 2025.
Liquidity and Capital Resources
Cash Position
As of March 31, 2026, TAP Real Estate Technologies, Inc. had $6,682 in cash, a decrease from $126,066 as of December 31, 2025.
Working Capital
The working capital deficit increased to - $3,592,070 as of March 31, 2026, from - $2,870,414 as of December 31, 2025.
Cash Flows from Operating Activities
Net cash used in operating activities for continuing operations was - $389,384 for the three months ended March 31, 2026, an increase from - $298,466 for the same period in 2025.
Cash Flows from Investing Activities
Net cash used in investing activities was - $945,000 for the three months ended March 31, 2026, primarily due to - $695,000 paid for license fees to a related party and - $250,000 for an option deposit. In contrast, the company had net cash provided by investing activities of $2,000,000 in 2025, mainly from the sale of HUMBL.com and related assets to TAP.
Cash Flows from Financing Activities
Cash provided by financing activities increased to $1,215,000 for the three months ended March 31, 2026, from $377,000 for the same period in 2025. This was driven by $510,000 from the sale of common stock (not yet issued) and $705,000 from convertible notes payable in 2026.
Strategic Focus and Outlook
TAP Real Estate Technologies, Inc. rebranded to focus on real estate asset acquisition, ownership, and blockchain-enabled real estate tokenization, securing $500,000 in initial investment capital and actively evaluating real estate opportunities for its balance sheet and tokenization through the TAP Invest platform. The company plans to generate revenues through management fees, listing fees, and success fees on tokenized real estate listings, and by adding value to properties in its portfolio. Professional fees are expected to increase in the next 12 months as the business scales, while non-cash stock-based compensation related to warrants will cease by June 30, 2026, and the company is evaluating an option to purchase the Zermatt Resort.