Mag Mile Capital, Inc.
For the period ended Jun 30, 2025. Filed Aug 14, 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.
Jun 30, 2025 · Filed Aug 14, 2025
MMCPStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-31; filed 2025-05-13.
0001641172-25-009930
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-08-14.
0001641172-25-023777
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 42 previous paragraphs and 56 current paragraphs.
29 unchanged; 11 reworded; 14 added; 2 removed; 0 previous and 2 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 (14)
Current report
Payroll expense for the three months ended June 30, 2025 and 2024, was $139,369 and $88,129, respectively, an increase of $51,240 or 58.1%. Payroll expense increased due to a bonus paid to the analyst and salary paid to the CEO, which was not paid during the same period last year.
Current report
We had a net loss of $65,584 for the three months ended June 30, 2025, compared to net income of $480,863 for the three months ended June 30, 2024.
Current report
Results of Operations for the Six Months Ended June 30, 2025 Compared to the Six Months Ended June 30, 2024
Current report
Revenue and Gross Profit
Current report
Our revenue from commission income for the six months ended June 30, 2025 and 2024, was $1,487,375 and $1,796,893, respectively, a decrease of $309,518 or 17.2%. Revenue in the current period decreased due to sustained higher interest rates and lower deal activities.
Current report
Our commission expense for the six months ended June 30, 2025 and 2024, was $708,321 and $590,627, respectively, an increase of $117,694 or 19.9%. Although we had a decrease of commission revenue our commission expense increased due to deals being generated by originators with higher splits.
Current report
Operating Expenses
Current report
Professional fees for the six months ended June 30, 2025 and 2024, were $49,879 and $58,800, respectively, a decrease of $8,921 or 15.2%. Professional fees consist mainly of legal, audit and accounting fees. In the current period we had a decrease of both accounting and audit fees.
Current report
Payroll expense for the six months ended June 30, 2025 and 2024, was $210,007 and $167,162, respectively, an increase of $42,845 or 25.6%. Payroll expense increased due to an increase in bonus for the analyst as well as increase in salary processed for the CEO compared to last year.
Current report
General and administrative (“G&A”) expenses for the six months ended June 30, 2025 and 2024, were $340,752 and $288,676, respectively, an increase of $52,076 or 18%. In the current period we recognized $46,250 of non-cash consulting expense, that had been in prepaids, for common stock issued in a prior period.
Current report
Other Expense
Current report
We incurred interest expense of $4,386 and $4,386 for the six months ended June 30, 2025 and 2024.
Current report
Net Loss
Current report
We had a net loss of $55,870 for the six months ended June 30, 2025, compared to net income of $415,087 for the six months ended June 30, 2024.
Removed paragraphs (2)
Previous report
Payroll expense for the three months ended March 31, 2025 and 2024, was $70,638 and $79,033, respectively, a decrease of $8,395 or 10.6%.
Previous report
We had net income of $9,714 for the three months ended March 31, 2025, compared to a net loss of $65,776 for the three months ended March 31, 2024.
Reworded paragraphs (11)
Previous wording
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL CONDITION
Current wording
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Previous wording
Our revenue from commission income for the three months ended March 31, 2025 and 2024, was $780,500 and $532,593, respectively, an increase of $247,907 or 46.5%. Revenue in the current period increased due to several new large loans originated through the Commercial Mortgage Backed Securities (“CMBS”).
Current wording
Our revenue from commission income for the three months ended June 30, 2025 and 2024, was $706,875 and $1,264,300, respectively, a decrease of $557,425 or 44.1%. Revenue in the current period decreased due to several new large loans signed up to close by end of the summer through the Commercial Mortgage Backed Securities (“CMBS”). They will be realized in 3 rd quarter.
Previous wording
Our commission expense for the three months ended March 31, 2025 and 2024, was $344,020 and $226,339, respectively, an increase of $117,681 or 52%. We saw an increase in commission expense due to the timing of revenue receipts for which the commissions were paid on.
Current wording
Our commission expense for the three months ended June 30, 2025 and 2024, was $364,301 and $364,288, respectively, an increase of only $13. Although we had a decrease of commission revenue our commission expense stayed about the same due to increases in some of commission percentages for Originators to retain them. Revenue during this period was generated from higher commissioned Originators compared to the same period last year. We saw an increase in commission expense due to the timing of revenue receipts for which the commissions were paid on.
Previous wording
Our commission expense – related party, for the three months ended March 31, 2025 and 2024, was $180,400 and $106,165 respectively, an increase of $74,235 or 69.9%. Related party commission expense increaseddue to the timing of revenue receipts for which the commissions were paid on. Related party commission expense is for commission paid to Park River Investments, LLC, a company owned by the Chairman and CEO, where the Chairman and CEO was the procuring cause for the revenue.
Current wording
Our commission expense – related party, for the three months ended June 30, 2025 and 2024, was $49,500 and $165,990, respectively, a decrease of $116,490 or 70.2%. Related party commission expense decreaseddue to the fact that deals that were originated by the Chairman and CEO dropped from last year. Related party commission expense is for commission paid to Park River Investments, LLC, a company owned by the Chairman and CEO, where the Chairman and CEO was the procuring cause for the revenue.
Previous wording
Professional fees for the three months ended March 31, 2025 and 2024, were $25,813 and $26,500, respectively, a decrease of $687 or 2.6%. Professional fees consist mainly of legal, audit and accounting fees.
Current wording
Professional fees for the three months ended June 30, 2025 and 2024, were $24,066 and $32,300, respectively, a decrease of $8,234 or 25.5%. Professional fees consist mainly of legal, audit and accounting fees. In the current period we had a decrease of both accounting and audit fees.
Previous wording
General and administrative (“G&A”) expenses for the three months ended March 31, 2025 and 2024, were $147,722 and $147,689, respectively, an increase of only $33.
Current wording
General and administrative (“G&A”) expenses for the three months ended June 30, 2025 and 2024, were $193,030 and $130,537, respectively, an increase of $62,493 or 47.9%. In the current period we had an increase of travel and client relations expense. We also recognized $46,250 of non-cash consulting expense, that had been in prepaids, for common stock issued in a prior period.
Previous wording
We incurred interest expense of $2,193 for the three months ended March 31, 2025 and 2024.
Current wording
We incurred interest expense of $2,193 and $2,193 for the three months ended June 30, 2025 and 2024.
Previous wording
Gross Profit is our main revenue metric as it is net of commissions paid. We had a gross profit of $256,080 for the three months ended March 31, 2025, compared to a gross profit of $200,089 for the three months ended March 31, 2024.
Current wording
Gross Profit is our main revenue metric as it is net of commissions paid. We had a gross profit of $549,154 for the six months ended June 30, 2025, compared to a gross profit of $934,111 for the six months ended June 30, 2024.
Previous wording
As of March 31, 2025, we had cash of approximately $140,134 and a working capital deficit of $35,860.
Current wording
As of June 30, 2025, we had cash of approximately $343,400 and a working capital deficit of $93,704.
Previous wording
During the three months ended March 31, 2025, we received $84,650 of cash from operating activities. Our cash flows provided by operating activities is the result of (i) our net income of $9,714, adjusted for non-cash activity of $14,388 and (ii) an increase in prepaids of $17,640, a decrease of draws against commissions of $5,986 and an increase of accounts payable and accruals of $72,202. During the three months ended March 31, 2024, we used $72,427 of cash in operating activities. Our cash flows used in operating activities is primarily a result of (i) our net loss of $65,776, adjusted for non-cash activity of $25,243 and (ii) an increase in draws against commissions and decrease of accounts payable of $16,319 and $15,575, respectively.
Current wording
During the six months ended June 30, 2025, we received $287,906 of cash from operating activities. Our cash flows provided by operating activities is the result of (i) our net loss of $55,870, adjusted for non-cash activity of $75,276 and (ii) an increase in prepaids of $16,921, a decrease of draws against commissions of $51,221 and an increase of accounts payable and accruals of $234,200. During the six months ended June 30, 2024, we used $67,063 of cash in operating activities. Our cash flows used in operating activities is primarily a result of (i) our net income of $415,087, adjusted for non-cash activity of $42,528 and (ii) an increase in draws against commissions and accounts receivable and an increase of accounts payable of $427,448 and $36,896, respectively.
Previous wording
During the three months ended March 31, 2025, we received $55,000 of cash from related party loans. In the prior period we received $25,000 from related party loans.
Current wording
During the six months ended June 30, 2025, we received $55,000 of cash from related party loans. In the prior period we received $90,000 from related party loans all of which was repaid.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
Gross Profit is our main revenue metric as it is net of commissions paid. We had a gross profit of $293,074 for the three months ended June 30, 2025, compared to a gross profit of $734,022 for the three months ended June 30, 2024. This decreased happened due to the drop in revenue during the same period compared last year.
Current report — wording carried from elsewhere
Our commission expense – related party, for the six months ended June 30, 2025 and 2024, was $229,900 and $272,155, respectively, a decrease of $42,255 or 15.5%. Related party commission expense decreaseddue less deals originated by the Chairman and CEO. Related party commission expense is for commission paid to Park River Investments, LLC, a company owned by the Chairman and CEO, where the Chairman and CEO was the procuring cause for the revenue.