DEFENSE TECHNOLOGIES INTERNATIONAL CORP.

Going-concern micro-cap with no revenue, an $18M accumulated deficit, and a $2.1M working-capital deficit.

Strengths

• Holds a security-scanning technology license via 76%-owned PSSI
• Recorded a one-off $0.77M gain on debt extinguishment

Risks

• Explicit going concern; only $1,493 cash and current ratio 0.004 (3.7th)
• ROA -103.6 (3.4th); the positive ROE is purely a negative-equity artifact
• No meaningful revenue since inception; survival depends on related-party and convertible-note funding

Notable findings

• Going concernThrough April 30, 2025, the Company had no revenue, has accumulated deficit of $18,042,197 and a working capital deficit of $2,075,126 and expects to incur further losses in the development of its bus
• Weak liquidityCurrent ratio 0.00 (<1)
• Buying back stockNet buyback — share count -5%/yr over 4y
• Revenue declineRevenue -100.0% YoY