M&A - CHASE PACKAGING CORP

Form Type: 10-Q

Filing Date: 2025-05-13

Corporate Action: Acquisition

Type: Update

Accession Number: 000147793225003613

Filing Summary: Chase Packaging Corporation's quarterly report for the period ending March 31, 2025, reveals that the company is actively seeking a merger or acquisition to enhance shareholder value amidst ongoing financial challenges. The report indicates a net loss of $14,507 for the quarter compared to a loss of $35,271 in the same quarter the previous year, with revenues remaining non-existent. The company has maintained current assets of $284,031 and total liabilities of $4,301, reflecting a modest decline in working capital. The report emphasizes management's intent to explore additional capital raising strategies. Furthermore, it details the company's capital structure, including the absence of preferred shares issued and outstanding, while it continues to manage its treasury stock effectively.

Form Type: 10-K

Filing Date: 2025-04-01

Corporate Action: Merger

Type: Update

Accession Number: 000147793225002339

Filing Summary: CHASE PACKAGING CORPORATION is a Delaware corporation focused on securing a suitable merger partner or acquiring private companies to create investment value. The company has a history of liquidation as it completed the orderly liquidation of its assets in 1997. Currently categorized as a shell company, CHASE PACKAGING had no revenue for FY 2024 and only generated interest income from cash equivalents. Operating expenses rose primarily due to higher legal and professional fees linked to merger initiatives. The net loss for the year fell to $88,949, down from $403,030 in 2023, partly due to decreased warrant modification expenses. The company reported having approximately $297,710 in cash and cash equivalents, which it believes is adequate for pursuing acquisition activities over the next twelve months. The management emphasized the importance of identifying a business combination to enhance its operational portfolio, reflecting a commitment to future growth.