GRNQ

Greenpro is a Nevada-incorporated cross-border consulting and venture-capital shell operating in Hong Kong, China and Malaysia, and the FY2025 filing removes any benefit of the doubt: its independent auditor 'raised substantial doubt about the Company's ability to continue as a going concern.' That is the single most important fact here. Revenue fell 40.7% to $2.07M — driven by service revenue collapsing from $3.09M to $1.84M — while the company posted a $2.98M net loss and burned $1.79M in operating cash. With only $637K of cash on hand (down 43.4%), the business is running well below one year of self-funded runway and, by management's own admission, its survival 'is dependent upon improving its profitability and the continuing financial support from its major shareholder.' That is the definition of an unknowable, non-investable risk.

The fundamentals are not a temporary stumble but a pattern of value destruction. The five-year record shows revenue stuck in the $2–4M range with net income negative in four of five years, and a $40.2M accumulated deficit against just $3.55M of stockholders' equity — the company has vaporized more than ten times its current book value over its life. FY2025 operating income swung to -$2.15M as G&A of $3.82M dwarfed the $1.67M gross profit; an 80% gross margin is meaningless when the cost base is 1.8x revenue. ROE of -83.9% and a net margin of -143.8% confirm capital is being incinerated, not compounded. Share count also rose 13.9%, diluting holders even as the equity shrank 31.1%.