Going concern doubts persist as the Wyoming-domiciled holding company eyes Illinois cannabis license options, a hemp-derived THC beverage line, and a $10 million Leonite credit facility.

May 21, 2026

Global Asset Management Group, Inc. reported a sharply wider net loss for the first quarter of 2026 as the Wyoming-domiciled holding company continues to digest a rapid series of acquisitions that have transformed it from a dormant entity into a diversified real estate and digital marketing operation.

The Rockville, Maryland-based firm, which trades on the OTCID under the ticker GAMG, recorded a net loss of approximately $376,871 for the three months ended March 31, 2026, compared with a loss of just $45,834 in the same period a year earlier. Revenue climbed to $93,201 from zero in the prior-year quarter, reflecting the integration of newly acquired operating businesses.

Operating expenses, however, jumped to $470,072, driven primarily by:

• General and administrative costs of $292,499
• Amortization charges of $76,598
• Interest expense of $52,342
• Property management and insurance expenses totaling roughly $32,700

Going Concern Warning Amid Tight Liquidity

The widening losses come as management warns of substantial doubt about the company’s ability to continue as a going concern. As of March 31, the company held just $27,394 in cash, down from $49,077 at year-end 2025, and reported a total stockholders’ deficit of $358,743 — a swing from positive equity of $17,117 three months earlier. Total assets stood at roughly $10.1 million, weighed against mortgage debt of approximately $9.99 million.

An Aggressive Acquisition Strategy

Despite the strained balance sheet, Global Asset Management Group has executed an aggressive acquisition strategy aimed at building a diversified portfolio anchored in income-producing real estate. The company, formerly known as Kenilworth Systems Corporation, rebranded in June 2025 and has since folded in three distinct operating platforms.

Bella Rio Marketing Agency

In July 2025, the firm acquired Bella Rio Marketing Agency, Inc., a full-service digital marketing operation specializing in social media strategy, search engine optimization, content creation, and customer relationship management integration. The transaction, structured as a share exchange involving 450,000 common shares issued to Andell Holdings Corporation, brought in roughly $92,788 of trailing revenue and gave the parent in-house marketing capabilities.

DC Rental Portfolio Corp.

In September 2025, Global Asset Management Group completed the acquisition of DC Rental Portfolio Corp. in exchange for 250 million common shares. DC Rental owns and is acquiring multi-family residential housing in the Washington, D.C. market, with a stated focus on affordable units for people with disabilities and military veterans. Its current properties include:

• The 31-unit Saratoga Apartments at 653 East Capitol Street S.E., acquired for $6.7 million and being renovated for condominium conversion, with an appraised post-renovation value of $12.91 million
• A 41-unit garden-style complex at 5320 8th Street N.W., under contract for $10 million with an expected second-quarter close and a prospective renovated value of $19.9 million
• A nine-unit mixed condominium property at 3628 Georgia Avenue N.W., acquired for $3 million

Sustainable Properties Group

The most consequential expansion came in March 2026 with the completion of a series of share exchange agreements collectively branded the Sustainable Properties Group acquisition. The transactions added a 33,000-square-foot edge data center, an 18,000-square-foot manufacturing property, and options to acquire Illinois state-licensed cannabis craft grow, infuser, and transportation licenses — contingent on eventual federal rescheduling of cannabis. The company issued an aggregate of approximately 35.8 million common shares across five separate agreements covering Sustainable Craft Grow #1, Sustainable Properties, Sustainable Transporter #1 and #2, and TMD Ventures.

Management indicated it is evaluating monetization of portions of the Sustainable Properties portfolio. The company is in discussions on two potential transactions, each contemplating a sale price of approximately $5 million on five-year seller-financing terms, with proceeds expected to fund the scale-up of a hemp-derived THC beverage product line and related manufacturing initiatives. The company cautioned that these plans remain preliminary and subject to negotiation, regulatory approvals, and customary closing conditions.

Leonite Financing and Subsequent Events

To support its capital needs, Global Asset Management Group disclosed a strategic financing relationship with Leonite Fund I, LP, established on March 18, 2026. The arrangement provides initial access to a $10 million senior secured convertible note facility to be funded in tranches for real estate acquisitions and general working capital. Management characterized the facility as offering staged funding, defined conversion terms, prepayment flexibility, and senior secured positioning tied to specific assets.

In a subsequent event disclosure, the company reported that on May 6, 2026, its wholly-owned subsidiary RI Property Holdings, Inc. completed a debt and equity transfer and assumption agreement with affiliates of FVP Investments, LLC. The subsidiary acquired the remaining 83.125 percent of membership interests in Memorial Real Estate Group LLC, bringing its ownership to 100 percent. Total consideration of $6,455,000 consisted of a one-year convertible promissory note of $6 million plus a $455,000 cash down payment, with the cash portion disbursed in part to FVP Servicing, the City of Pawtucket, and legal counsel. A separate $1 million loan from Bogdan Capital LLC was authorized in connection with Memorial Real Estate Group on April 10, 2026.

Equity Activity and Outlook

The company also issued additional equity during the quarter outside the Sustainable Properties transactions, including 500,000 shares to Alpine Securities Corporation in February as compensation for investment banking services, and a combined 580,000 shares to nine existing shareholders for aggregate cash consideration of $5,800.

As of May 15, 2026, there were 340,152,858 common shares outstanding. The company employs approximately six people, including officers, and supplements its staffing with independent contractors. Global Asset Management Group operates from its principal office in Rockville with an additional executive office in Rockford, Illinois, and maintains an application for uplisting to the OTCQB Venture Market.

Management acknowledged that the company’s ability to continue as a going concern depends on generating cash through equity sales, debt financing, and a path to profitable operations. Forward-looking statements throughout the report cautioned that completion of pending transactions, anticipated regulatory developments, and the realization of expected synergies from recent acquisitions cannot be assured. President John Murray, who also serves as president of DC Rental Portfolio Corp., signed the report on behalf of the registrant.