STRATEGIC ACQUISITIONS INC /NV/

Previous wording

As used in this Quarterly Report and unless otherwise indicated, the terms “Company,” “we,” “us,” and “our,” refer to Strategic Acquisitions, Inc. and its wholly-owned subsidiary Exworth, a Nevada corporation.

Current wording

As used in this Quarterly Report and unless otherwise indicated, the terms “Company,” “we,” “us,” and “our,” refer to Strategic Acquisitions, Inc. and its wholly-owned subsidiary Exworth Union, a Delaware corporation.

Previous wording

Strategic Acquisitions, Inc. (the “Company,” “we,” “us” and words of similar import) was incorporated under the laws of the State of Nevada on January 27, 1989. The Company is a private lending company that provides digital asset backed loan service to businesses. On December 22, 2022, we entered into and consummated an Agreement and Plan of Merger (“Merger Agreement”) with Exworth Union Inc. (“Exworth Union”) and the owners of all of its outstanding shares of capital stock — Exworth Management LLC (“Exworth Management”) and World Class Global Technology PTE LTD. (“World Class,” collectively with Exworth Management, the “Stockholders”) whereby we acquired Exworth Union (the “Merger”). Exworth Union is engaged in providing loans collateralized by digital assets. Prior to the Merger, we were a “shell” company with no commercial operations and had generated no revenues other than nominal interest income. Since the merger, we generated revenues from interest income and fees from loan receivable issuance. During 2023, we initiated loan administrations services and ceased providing services. During July 2024, all loan receivable issued were settled by borrowers and we have temporarily ceased lending operations from this date as of the date this SEC filing.

Current wording

Strategic Acquisitions, Inc. (the “Company,” “we,” “us” and words of similar import) was incorporated under the laws of the State of Nevada on January 27, 1989. The Company is a private lending company that provides digital asset backed loan service to businesses. On December 22, 2022, we entered into and consummated an Agreement and Plan of Merger (“Merger Agreement”) with Exworth Union Inc. (“Exworth Union”) and the owners of all of its outstanding shares of capital stock — Exworth Management LLC (“Exworth Management”) and World Class Global Technology PTE LTD. (“World Class,” collectively with Exworth Management, the “Stockholders”) whereby we acquired Exworth Union (the “Merger”). Exworth Union is engaged in providing loans collateralized by digital assets. Prior to the Merger, we were a “shell” company with no commercial operations and had generated no revenues other than nominal interest income. Since the merger, we generated revenues from interest income and fees from loan receivable issuance. During 2023, we initiated loan administrations services and ceased providing services. During July 2024, all loan receivable issued were settled by borrowers and we have temporarily ceased lending operations from this date as of the date of this SEC filing.

Previous wording

In assessing our business operations, we expect to expend significant managerial, operational, and compliance costs to meet the legal and regulatory requirements applicable to us in the United States and other jurisdictions, all of which will incur significant costs to comply with these requirements before we could grow our business. For these reasons, management is accessing its business model. Based on the Company’s limited resources, management is currently evaluating areas to build its business and is focusing on identifying their future customer base.

Current wording

In assessing our business operations, we expect to expend significant managerial, operational, and compliance costs to meet the legal and regulatory requirements applicable to us in the United States and other jurisdictions, all of which will incur significant costs to comply with these requirements before we could grow our business. For these reasons, management is assessing its business model. Based on the Company’s limited resources, management is currently evaluating areas to build its business and is focusing on identifying their future customer base.

Previous wording

Management is also considering the divestiture of its wholly owned subsidiary, Exworth Union. As the Company’s business focus evolves, the importance of this subsidiary is no longer strategic to the Company. At this time, management does not believe that the divestiture of its subsidiary would have any impact the business, results of operations, cash flows and financial condition of the Company.

Current wording

Management is also considering the divestiture of its wholly owned subsidiary, Exworth Union. As the Company’s business focus evolves, the importance of this subsidiary is no longer strategic to the Company. At this time, management does not believe that the divestiture of its subsidiary would have any impact on the business, results of operations, cash flows and financial condition of the Company.

Previous wording

As of March 31, 2026, we had cash on hand of $2,927, as compared to cash on hand of $508 as of December 31, 2025. The increase in cash on hand is a result of the sale of 40,000,000 common shares of stock for $40,000.

Current wording

As of June 30, 2026, we had cash on hand of $32,349, as compared to cash on hand of $508 as of December 31, 2025. The increase in cash on hand of $31,841 is primarily the result of $60,000 in proceeds from non-recourse related party notes payable and $40,000 in proceeds from the sale of common stock, partially offset by $68,159 in cash used in operating activities.

Previous wording

The unaudited condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q have been prepared assuming that the Company will continue as a going concern. The Company has accumulated losses from inception through March 31, 2026 of $520,380.

Current wording

The unaudited condensed consolidated financial statements contained in this Quarterly Report on Form 10-Q have been prepared assuming that the Company will continue as a going concern. The Company has an accumulated deficit as of June 30, 2026 of $544,943.

Previous wording

During the three months ended March 31, 2026, the Company received net cash proceeds of $40,000 from the sale of 40,000,000 of its common shares. If the Company does not generate additional revenue or equity and other debt financing from third parties, it will not have sufficient cash to meet its obligations for the next twelve months following the date of this Quarterly Report on Form 10-Q. There currently are no other arrangements or agreements for financing, and there can be no assurances that any other debt or equity financing will be available, or if available, on favorable terms. As such, these matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this Quarterly Report on Form 10-Q. The condensed consolidated financial statements in this Quarterly Report on Form 10-Q do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

Current wording

During the six months ended June 30, 2026, the Company received $60,000 in non-recourse related party loans and $40,000 from the sale of common stock. If the Company does not generate additional revenue or equity and other debt financing from third parties, it will not have sufficient cash to meet its obligations for the next twelve months following the date of this Quarterly Report on Form 10-Q. There currently are no other arrangements or agreements for financing, and there can be no assurances that any other debt or equity financing will be available, or if available, on favorable terms. As such, these matters raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months from the date of this Quarterly Report on Form 10-Q. The condensed consolidated financial statements in this Quarterly Report on Form 10-Q do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.

Previous wording

Net cash used in operating activities was $(37,581) for the three months ended March 31, 2026, due to a net loss of $38,717, Net cash used in operating activities was $24,194 for the three months ended March 31, 2025, due to a net loss of $25,044.

Current wording

Net cash used in operating activities was $(68,159) for the six months ended June 30, 2026, consisting of a net loss of $(63,280), adjusted for non-cash share-based compensation of $1,000, an increase in prepaid expenses of $(3,560), and a decrease in accounts payable and accrued expenses of $(2,319). Net cash used in operating activities was $(27,278) for the six months ended June 30, 2025, consisting of a net loss of $(27,591), adjusted for a decrease in prepaid expenses of $864 and a decrease in accounts payable and accrued expenses of $(551).

Previous wording

There were no investing activities in the three months ended March 31, 2026 and 2025.

Current wording

There were no investing activities in the six months ended June 30, 2026 and 2025.

Previous wording

For the three months ended March 31, 2026, net cash provided by financing activities was $40,000, consisting of the sale of 40,000,000 shares of common stock. For the three months ended March 31, 2025, net cash provided by financing activities was $7,200, consisting of proceeds from a related party to keep the Company operational.

Current wording

For the six months ended June 30, 2026, net cash provided by financing activities was $100,000, consisting of $60,000 in proceeds from non-recourse related party notes payable and $40,000 from the sale of 40,000,000 shares of common stock. For the six months ended June 30, 2025, net cash provided by financing activities was $7,700 , consisting of advances from a related party.