LINGERIE FIGHTING CHAMPIONSHIPS, INC. (BOTY) presents a deeply negative liquidation posture as of December 31, 2025. MFFAIS-computed cash liquidation value is approximately negative $6.4 million, consistent with balance sheet data showing total assets of $106,213 against total liabilities of $6,438,960, yielding GAAP stockholders' equity of negative $6,332,747. Under a liquidation lens, asset recoveries are de minimis: cash of $24,093 (100% recovery), accounts receivable of $5,598 (fully reserved per the filing's own allowance disclosure, recoverable value near zero), prepaid of $10,450 (minimal recovery), PP&E net book value of $1,072 (negligible), and intangible assets of $65,000 (zero recovery — these represent digital assets/content acquired in 2025, with no third-party market; filing does not separately XBRL-tag them as digital assets but discloses $140,500 paid in 2025 for digital assets with an unrealized loss embedded). Gross liquidation asset value is effectively $24,000–$35,000 against $6.4 million of face-value liabilities. The liability stack is dominated by: derivative liabilities of $2,935,853 (Level 3 Black-Scholes fair value, carried at face for liquidation purposes), accrued interest payable of $1,119,975, related-party salary payable of $831,128, convertible notes net carrying value of $1,192,800 (gross principal $1,438,974 less $246,396 unamortized discount — face value governs in liquidation), and promissory notes of $340,000, both sets entirely in default. The total notes in default at face value are $1,278,974. Accrued interest on convertible notes alone is $875,620 and on promissory notes is $244,354, totaling $1,119,974. Versus the prior filing (10-Q for Q3 2025 period ending September 30, 2025), convertible note principal in default increased from $918,974 to $938,974, three new convertible notes were added in 2025 (Auctus #20, #21, #22, #23 totaling $500,444 gross principal), derivative liabilities decreased modestly from $3,070,137 at year-end 2024 to $2,935,853 at December 31, 2025 due to fair value gains in Q4, and the related-party payable grew from $743,628 to $831,128. A 10,000:1 reverse stock split was effected February 2, 2026. The filing discloses $6.4 million in NOL carryforwards with a full valuation allowance; deferred tax asset has zero net recovery value. No operating leases, no pension obligations. Disclosure controls and internal controls over financial reporting were assessed as ineffective.
▼ Community Notes