Skkynet Cloud Systems, Inc.
For the period ended Apr 30, 2026. Filed Jun 17, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Apr 30, 2026 · Filed Jun 17, 2026
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2026-01-31; filed 2026-03-17.
0001477932-26-001399
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-04-30; filed 2026-06-17.
0001477932-26-003904
Item 2. 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 18 previous paragraphs and 18 current paragraphs.
9 unchanged; 8 reworded; 1 added; 1 removed; 0 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.
Added paragraphs (1)
Current report
Other income (expense) for the three and six months period ended April 30, 2026 was other expense of $10,337 and income of $4,860, consisting of other income of $13,285 and $24,969 and a currency loss of $2,948 and $20,109. This compared to other expenses of $31,790 and $964 consisting of other income of $8,357 and $18,109, bad debt expense of $13,474 and a currency loss of $26,673 and $5,599 for the same period in 2025. The significant changes in the six months period ending April 30, 2026 over 2025 was the increase in other income from interest earned and the bad debt write off of $13,474 in 2026 verses none in 2025.
Removed paragraphs (1)
Previous report
Other income for the three months period ended January 31, 2025 was $30,826, consisting of other income of $9,752 and a currency gain of $21,074. This compared to other expenses of $5,477 consisting of other income of $11,684 and a currency loss of $17,161 for the same period in 2026. The amount of change in both periods was due mostly to the effect of currency exchange.
Reworded paragraphs (8)
Previous wording
For the three month period ended January 31, 2025, revenue was $828,052 compared to $549,393 for the same period in 2026. Revenue decreased for the three months period ended January 31, 2026 over the same period in 2025 by 34%. For comparison purposes, the revenue for the quarter ended January 31, 2025 was approximately 32% greater than the 5 year average of revenue of the same periods from 2021 through 2025. The decrease in revenue for the three months period is attributed to lower sales by Cogent along with the move by the Company from perpetual to subscription licenses.
Current wording
For the three and six months periods ended April 30, 2026, revenue was $606,106 and $1,155,499 compared to $583,712 and $1,414,674 for the same period in 2025. Revenue increased for the three months in 2026 by 4% and decreased for the six months period ended April 30, 2026 over the same period in 2025 by 18%. The decrease in the six months revenue in 2026 is attributed to lower sales by Cogent along with the move by the Company from perpetual to subscription licenses.
Previous wording
Operating expense was $629,815 for the three month periods ended January 31, 2025 compared to $766,608 for the same period in 2026. The increase in operating expenses was impacted by an increase in salary and wages of $42,442, consulting and directors’ fees of $24,141 and general and administrative expenses of $76,389.
Current wording
Operating expense was $875,975 and $1,642,493 for the three month and six months periods ended April 30, 2026 compared to $780,405 and $1,411,220 for the same periods in 2025. The increase in operating expenses was impacted by an increase in advertising of $25,273 and general and administrative expenses of $139,113 during the six months ended April 30, 2026. General and administrative costs increased during the six months ended April 30, 2026 due to additional staff added.
Previous wording
For the three month period ended January 31, 2025, the Company reported an operating income of $198,237 compared to operating loss of $217,215 for the same period in 2026. The operating loss during the three month period ended January 31, 2026 over the operating income for same period in 2025 is attributable to $278,659 lower revenues plus increased expenses of $136,753 in the three month period ended January 31, 2026, versus the same period in 2025.
Current wording
For the three and six month periods ended April 30, 2026, the Company reported an operating loss of $269,896 and $486,993 compared to operating loss of $194,693 and operating income of $3,544 for the same period in 2025. The operating loss during the six month period ended April 30, 2026 over the operating income for same period in 2025 is attributable to $259,265 in lower revenues plus increased expenses of $231,273 in the six month period ended April 30, 2026, versus the same period in 2025.
Previous wording
Net income, after income taxes of $229,063, was reported for the three month period ended January 31, 2025, compared to net loss after income taxes of $266,509 for the same period in 2026. The net loss for the three month period in 2026 can be attributed to $278,659 of lower revenue during the same period in 2026 versus the same period in 2025. Additionally, the operating expenses for the three month period ended January 31, 2026 was $136,753 more than the same period in 2025.
Current wording
Net loss after income taxes of $109,392 and $335,901, was reported for the three month and six months periods ended April 30, 2026, compared to net loss after income taxes of $227,723 and net income of $1,340 for the same period in 2025. The net loss for the three month period in 2026 can be attributed to $278,659 of lower revenue during that period in 2026 versus the same period in 2025. Additionally, the operating expenses for the three month period ended April 30, 2026 was $136,753 more than the same period in 2025.This was offset by a tax refund of $146,232 in the six months period ended April 30, 2026.
Previous wording
Net income to common stockholders was $226,158 for the three month period ended January 31, 2025, compared to net loss of $229,414 for the same period in 2026. Net income to common shareholders includes the expense of dividend for preferred stockholders of $2,905 being accrued for the three months period ended January 31, 2025 and 2026.
Current wording
Net loss to common stockholders was $112,297 and $341,711 for the three and six month periods ended April 30, 2026, compared to net loss of $230,628 and $4,470 for the same periods in 2025. Net income to common shareholders includes the expense of dividend for preferred stockholders of $2,905 being accrued for the three and six month periods ended April 30, 2026 and 2025.
Previous wording
The Company reported comprehensive income of $221,485 for the three month period ended January 31, 2025 compared to a comprehensive loss of $223,301 for the same period in 2026. The comprehensive income is an adjustment to net gain or loss with foreign currency translation adjustments.
Current wording
The Company reported comprehensive loss of $131,724 and $367,251 for the three and six month periods ended April 30, 2026 compared to a comprehensive loss of $235,302 and $13,817 for the same periods in 2025. The comprehensive income is an adjustment to net gain or loss with foreign currency translation adjustments.
Previous wording
At January 31, 2026, the Company had current assets of $1,780,941 and current liabilities of $912,098, resulting in working capital of $868,843. Accumulated deficit, as of January 31, 2026, was $6,676,990 with total stockholders’ equity of 868,843. This compares to current assets of $1,831,014 and current liabilities of $803,299 with working capital of $1,027,715 as of October 31, 2025. Accumulated deficit as of October 31, 2025 was $6,447,576 with shareholders’ equity of $1,027,576.
Current wording
At April 30, 2026, the Company had current assets of $1,937,112 and current liabilities of $933,339, resulting in working capital of $1,003,773. Accumulated deficit, as of April 30, 2026, was $6,789,287 with total stockholders’ equity of $837,000. This compares to current assets of $1,831,014 and current liabilities of $803,299 with working capital of $1,027,715 as of October 31, 2025. Accumulated deficit as of October 31, 2025 was $6,447,576 with shareholders’ equity of $1,027,715.
Previous wording
Net cash provided by operating activities for the three month period ended January 31, 2025, was $157,268 compared to net cash used in operating activities of $42,643 for the same period in 2026. The change in cash provided by operating activities for the three month period ended January 31, 2025 compared to the cash used in operating activities over the same period in 2026 was primarily due to a decreased revenue in 2026 compared to 2025 .
Current wording
Net cash used in operating activities for the six month period ended April 30, 2026, was $280,443 compared to net cash provided by operating activities of $100,616 for the same period in 2025. The change in cash used in operating activities for the six month period ended April 30, 2026 compared to the cash provided by operating activities over the same period in 2025 was due to a combination of decreased revenue $259,265 and increased operating expenses of $231,272 in 2026 compared to 2025 . These two factors caused a variance of $490,537 during the six months period in 2026 compared to the same period in 2025.