LifeQuest World Corp. (OTCID: LQWC), a diversified environmental solutions company, has filed its Quarterly Report and unaudited consolidated financial statements for the fiscal first quarter ended August 31, 2026, with OTC Markets. This is the company's first formal report as a combined entity following its June 12, 2026 acquisition of Compaction and Recycling Equipment, Inc. (CARE) and Columbia Financial Services, Inc. (CFSI). The filing, announced via NEWMEDIAWIRE, reveals a fundamental change in the scale of LifeQuest's business, with significant revenue, positive net income, and a substantially strengthened balance sheet.
For the quarter, LifeQuest reported revenue of $885,400, compared with no revenue in the same quarter of the prior year. Gross profit was $568,935, representing a gross margin of approximately 64%. Pretax income was $24,249, compared with a net loss of $(56,300) in the prior-year quarter, a year-over-year improvement of $80,549. The addition of CARE and CFSI, now consolidated alongside BioPipe Global Corp., drove the year-over-year comparison. The company also relocated its headquarters from Ridgefield Park, New Jersey, to Clackamas, Oregon, in connection with the integration.
The balance sheet showed total assets of $2,125,492, with cash and cash equivalents of $548,200, up from $187,320 at May 31, 2026, and $110,846 at August 31, 2025. Stockholders' equity turned positive at $519,104, compared with a stockholders' deficit of $(158,854) at fiscal year-end May 31, 2026. Working capital was positive at $397,302, and the current ratio was 1.25x, compared with negative working capital of $(65,933) a year earlier. Deferred revenue stood at approximately $935,000, representing amounts billed or received in advance that the company expects to recognize as revenue in future periods as performance obligations are satisfied. The company also reported a modest debt load, with interest-bearing obligations of $100,000 in principal, consisting of an $85,000 promissory note and a $15,000 convertible note, and no long-term debt on the balance sheet. No cash was paid at closing for the CARE and CFSI acquisition, which was completed for Series B Preferred Stock and an $85,000 promissory note.
"This filing is the first look at LifeQuest as the company we set out to build," said Max Khan, President and Chief Executive Officer of LifeQuest. "In a single quarter we moved from a development-stage wastewater technology company to a profitable environmental services platform with nearly $900,000 in quarterly revenue, more than $2.1 million in assets and positive stockholders' equity. CARE and CFSI give us a recurring revenue foundation in the Pacific Northwest, while BioPipe continues to win orders internationally, including two recent containerized sewage treatment plants for labor camps in the United Arab Emirates. Our priority now is completing a PCAOB audit and SEC registration so that investors can value LifeQuest on a fully reported basis."
LifeQuest is pursuing a defined path toward full SEC reporting status and a higher-tier market listing. The company intends to complete a PCAOB-standard audit, file a registration statement with the SEC (Form 10 or Form S-1), and apply for quotation on the OTCQB Venture Market. The company's operating businesses include BioPipe Global Corp., which develops and deploys decentralized biological sewage and wastewater treatment systems, and CARE and CFSI, which provide waste compaction and recycling equipment and related financial services. More information is available at www.lifequestcorp.com and www.biopipe.co.
