STRATEGIC ACQUISITIONS INC /NV/
For the period ended Sep 30, 2025. Filed Oct 31, 2025.
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.
Sep 30, 2025 · Filed Oct 31, 2025
STQNStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-08-04.
0001641172-25-022052
ITEM 2. — Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-10-31.
0001493152-25-020422
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 37 previous paragraphs and 38 current paragraphs.
25 unchanged; 12 reworded; 1 added; 0 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 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
Net cash provided by investing activities was $1,374,691 for the nine months ended September 30,2024 as the collection of loan receivable in July 2024.
Reworded paragraphs (12)
Previous wording
The discussion below pertains to our financial results for the three and months ended June 30, 2025 and 2024. For a discussion and analysis of our financial condition and results of operations prior to the formation of Exworth Union please refer to filings made with the U.S. Securities and Exchange Commission before consummation of the Merger Agreement.
Current wording
The discussion below pertains to our financial results for the three and nine months ended September 30, 2025 and 2024. For a discussion and analysis of our financial condition and results of operations prior to the formation of Exworth Union please refer to filings made with the U.S. Securities and Exchange Commission before consummation of the Merger Agreement.
Previous wording
Interest income, our major source of income, was $nil for the three and six months ended June 30, 2025, respectively, and $13,747 and $27,494 for the three and six months ended June 30, 2024, respectively.
Current wording
Interest income, our major source of income, was $nil for the three and nine months ended September 30, 2025, respectively, and $16,177 and $43,671 for the three and nine months ended September 30, 2024, respectively.
Previous wording
Selling, general and administrative expenses for the three and six months ended June 30, 2025 were $2,547 and $27,591, respectively, and for the three and six months ended June 30, 2024 were $25,842 and $72,624, respectively. For the six months ended June 30, 2025 and 2024, it primarily includes legal, accounting and other professional expense related to company’s daily operation.
Current wording
Selling, general and administrative expenses for the three and nine months ended September 30, 2025 were $(3,347) and $24,244, respectively, and for the three and nine months ended September 30, 2024 were $44,388 and $117,012, respectively. For the nine months ended September 30, 2025 and 2024, it primarily includes legal, accounting and other professional expense related to company’s daily operation. For the three months ended September 30, 2025, the selling, general and administrative expenses were negative, primarily due to the reversal of $7,500 over accrued professional fee.
Previous wording
Interest expense was nil for the three and six months ended June 30, 2025, and $8,678 and $17,357 for the three and six months ended June 30, 2024, incurred pursuant to a master loan agreement we entered with a U.S. based lender. The loan has a term of 24 months with quarterly interest-only payments with principal to be paid at maturity. No margin call was initiated by our lender during the period from inception of the loan to December 31, 2022. On July 12, 2024, Union repaid its note payable of $1,388,576.
Current wording
Interest expense was nil for the three and nine months ended September 30, 2025, and $1,447 and $18,804 for the three and nine months ended September 30, 2024, incurred pursuant to a master loan agreement we entered with a U.S. based lender. The loan has a term of 24 months with quarterly interest-only payments with principal to be paid at maturity. No margin call was initiated by our lender during the period from inception of the loan to December 31, 2022. On July 12, 2024, Union repaid its note payable of $1,388,576.
Previous wording
Our lender charged a 1% origination fee of the principal amount that we borrowed. The origination fee was deducted from the loan principal and will be amortized evenly through the loan term. Total amortization of loan origination fee for the three and six months ended June 30, 2025 was $0, and $1,735 and 3,471 for the three and six months ended June 30, 2024. On July 12, 2024, Union repaid its note payable of $1,388,576.
Current wording
Our lender charged a 1% origination fee of the principal amount that we borrowed. The origination fee was deducted from the loan principal and will be amortized evenly through the loan term. Total amortization of loan origination fee for the three and nine months ended September 30, 2025 was $0, and $290 and $3,761 for the three and nine months ended September 30, 2024. On July 12, 2024, Union repaid its note payable of $1,388,576.
Previous wording
Our net loss was $2,547 and $27,591, respectively, for the three and six months ended June 30, 2025, respectively, and $22,508 and $69,958, respectively, for the three and six months ended June 30, 2024, which was primarily driven by the increase in the price of the Bitcoin that we pledged to our lender. Among the more significant factors that may cause our net income to vary from period to period are: 1) the number of loans; 2) the interest rates that we charge our borrowers; 3) the interest rate that we pay to our lenders; 4) the fair market value of collateral held by us or pledged to our lenders; and 5) The allowance for loan loss of our loans. On July 10, 2024, Union collected its loan receivable of $1,374,691. On July 12, 2024, Union repaid its note payable of $1,388,576. On July 15, 2024, the 100 Bitcoins collateral was returned from the lender and returned to the borrower.
Current wording
Our net income was $3,347 and net loss was $24,244, respectively, for the three and nine months ended September 30, 2025, respectively, and net loss was $29,948 and $95,906, respectively, for the three and nine months ended September 30, 2024, which was primarily driven by the increase in the price of the Bitcoin that we pledged to our lender. Among the more significant factors that may cause our net income to vary from period to period are: 1) the number of loans; 2) the interest rates that we charge our borrowers; 3) the interest rate that we pay to our lenders; 4) the fair market value of collateral held by us or pledged to our lenders; and 5) The allowance for loan loss of our loans. On July 10, 2024, Union collected its loan receivable of $1,374,691. On July 12, 2024, Union repaid its note payable of $1,388,576. On July 15, 2024, the 100 Bitcoins collateral was returned from the lender and returned to the borrower.
Previous wording
As of June 30, 2025 and December 31, 2024, we had cash of $3,703 and $23,281, respectively. The accompanying condensed financial statements have been prepared assuming that we will continue as a going concern. The condensed financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should we be unable to continue as a going concern. To date, we have financed our operations through a private placement of equity raising approximately $350,000.
Current wording
As of September 30, 2025 and December 31, 2024, we had cash of $1,936 and $23,281, respectively. The accompanying condensed financial statements have been prepared assuming that we will continue as a going concern. The condensed financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should we be unable to continue as a going concern. To date, we have financed our operations through a private placement of equity raising approximately $350,000.
Previous wording
The following summarizes key components of our cash flows for the six months ended June 30, 2025 and 2024:
Current wording
The following summarizes key components of our cash flows for the nine months ended September 30, 2025 and 2024:
Previous wording
Net cash used in operating activities was $27,278 for the six months ended June 30, 2025. Cash consumed in operations reflects our net loss of $(27,591), and changes in prepaid expense $864 and accounts payable and accrued expenses of $551.
Current wording
Net cash used in operating activities was $29,044 for the nine months ended September 30, 2025. Cash consumed in operations reflects our net loss of $24,244, and changes in prepaid expense $864 and accounts payable and accrued expenses of $(5,664).
Previous wording
Net cash used in operating activities was $57,389 for the six months ended June 30, 2024. Cash consumed in operations reflects our net loss of $(69,985), and changes in prepaid expense $7,098 and accounts payable and accrued expenses of $2,000.
Current wording
Net cash used in operating activities was $77,648 for the nine months ended September 30, 2024. Cash consumed in operations reflects our net loss of $(95,906), and net against of changes in prepaid expense $300, interest receivable $11,456 and accounts payable and accrued expenses of $2,741.
Previous wording
There were no investing activities For the six months ended June 30, 2025 and 2024.
Current wording
There were no investing activities for the nine months ended September 30, 2025.
Previous wording
Net cash provided by financing activities was $7,200 and $13,120, respectively, For the six months ended June 30, 2025 and 2024, which related to the proceeds from Exworth Management for business operation.
Current wording
Net cash provided by financing activities was $7,699 and used in was $1,325,455, respectively. For the nine months ended September 30, 2025, which related to the proceeds from Exworth Management for business operation, and for the nine months ended September 30, 2024, which related to the proceeds of $63,121 from Exworth Management for business operation and repayment of notes payable of $1,388,576 in July 2024.