Hawkeye Systems Inc
For the period ended Jun 30, 2025. Filed Oct 15, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Oct 15, 2025
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-K
Period ended 2024-06-30; filed 2024-09-30.
0001477932-24-006059
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-K
Period ended 2025-06-30; filed 2025-10-15.
0001477932-25-007562
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 38 previous paragraphs and 33 current paragraphs.
24 unchanged; 9 reworded; 0 added; 4 removed; 1 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Removed paragraphs (4)
Previous report
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
Previous report
Results of Operations
Previous report
During our fiscal year ended June 30, 2023, the Company issued common stock valued at $624,344 in connection with settlements of stock payable, which included $594,344 associated with the settlement of a convertible promissory note with Steve Hall, and $30,000 related to settlements of compensation due to Richard Cutler for $20,000, and Christopher Mulgrew for $10,000.
Previous report
In addition, we intend to raise funds through the sale of equity and debt securities. If we cannot raise any additional financing prior to the expiration of the first quarter of 2024, we believe we will be able to obtain loans from management in the future, if necessary, but have no agreement in writing.
Reworded paragraphs (9)
Previous wording
The Company had $0 operating revenues for both fiscal years of 2024, and 2023 after the Company ceased operations of its PPE business in July 2021. The Company generated from CNTNR a total of $45,000 and $70,000 for the year ended June 30, 2024, and 2023 in other income, of which $45,000, and 20,000 were generated for consulting fees, and $0, and $50,000 for financing arrangement fees, respectively. See further discussion on Note 10– Note receivable to the Financial Statements**.**
Current wording
The Company had $0 operating revenues for both fiscal years of 2025, and 2024 after the Company ceased operations of its PPE business in July 2021. The Company generated from CNTNR a total of $0, and $45,000 for the year ended June 30, 2025, and 2024 in other income, of which $0, and $45,000 were generated for consulting fees, respectively. See further discussion on Note 10– Note receivable to the Financial Statements**.**
Previous wording
During our fiscal year 2024, total operating expenses were $373,390 compared to $1,118,537 for the same period in 2023. The decrease in operating expenses is primarily a result of a decrease in Selling, General, and Administrative expenses due to company downsizing. The Company’s net loss was $578,717 for the fiscal year ended June 30, 2024 compared to net loss of $1,226,311 for the fiscal year ended June 30, 2023. The net losses are primarily a result of operating expenses, and interest expenses.
Current wording
During our fiscal year 2025, total operating expenses were $270,669 compared to $373,390 for the same period in 2024. The decrease in operating expenses is primarily a result of a decrease in Selling, General, and Administrative expenses due to company downsizing. The Company’s net loss was $523,327 for the fiscal year ended June 30, 2025 compared to net loss of $578,717 for the fiscal year ended June 30, 2024. The net losses are primarily a result of operating expenses, and interest expenses. The Company earned no interest income as of June 30, 2025, whereas the Company earned $103,556 in interest income as of June 30, 2024.
Previous wording
Our cash balance at June 30, 2024 was zero compared to $143,861 at June 30, 2023. We do not believe these cash reserves are sufficient to cover our expenses for our operations for the next 12 months. We will require additional funding for our ongoing operations.
Current wording
Our cash balance at June 30, 2025 was $502 compared to $0 at June 30, 2024. We do not believe these cash reserves are sufficient to cover our expenses for our operations for the next 12 months. We will require additional funding for our ongoing operations.
Previous wording
During the fiscal years ended June 30, 2024, and 2023, we received $45,250, and $250,000, from a line of credit from a related party, respectively. The outstanding balance was settled with the Debt Consolidation Agreement. See further discussion on Note 11 - Debt Consolidation Agreement.
Current wording
In the fiscal year ended June 30, 2024, we received $45,250, from a line of credit from a related party. The outstanding balance was settled with the Debt Consolidation Agreement. In addition, on April 1, 2024, the Company settled $250,000 in accounts payable, and $33,218 in accrued expenses with a related party with the Debt Consolidation Agreement. See further discussion on Note 11 – Debt Consolidation Agreement.
Previous wording
In addition, in the fiscal years ended June 30, 2024, and 2023, we received $994,623, and $1,000,000 from a promissory note issued by a related party, respectively.
Current wording
During the fiscal years ended June 30, 2025, and 2024, we received $225,272, and 994,623 from a promissory note issued by a related party, respectively.
Previous wording
There are no assurances that we will be able to obtain further funds required for our continued operations. Even if additional financing is available, it may not be available on terms we find favorable. Failure to secure the needed additional financing will have an adverse effect on our ability to remain in business.
Current wording
There are no assurances that we will be able to obtain further funds required for our continued operations. Even if additional financing is available, it may not be available on terms we find favorable. Failure to secure the additional financing needed will have an adverse effect on our ability to remain in business.
Previous wording
As reflected in the accompanying financial statements, the Company had an accumulated deficit of approximately $12,687,204 at June 30, 2024 and net loss from operations of $578,717.
Current wording
As reflected in the accompanying financial statements, the Company had an accumulated deficit of approximately $13,210,531 at June 30, 2025 and net loss from operations of $270,669.
Previous wording
The ability of the Company to continue operations is dependent on the success of Management’s plans and raising of capital through the issuance of equity securities, until such time that funds provided by operations are sufficient to fund working capital requirements.
Current wording
The ability of the Company to continue operations is dependent on the success of Management’s plans and raising capital through the issuance of equity securities, until such time that funds provided by operations are sufficient to fund working capital requirements.
Previous wording
The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.
Current wording
The accompanying financial statements have been prepared on the going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
On April 1, 2024, the Company settled $250,000 in accounts payable, and $33,218 in accrued expenses with a related party with the Debt Consolidation Agreement. See further discussion on Note 11 – Debt Consolidation Agreement.