Givbux, Inc. Liquidation Value

GIVBUX, INC. (GBUX) presents a deeply negative liquidation posture as of March 31, 2026. The MFFAIS-computed cash liquidation value of approximately negative $5.4 million confirms that even a full liquidation of assets at face value would leave equity holders with zero recovery after satisfying liabilities at face. The TAG_CONTEXT list is empty, meaning no XBRL tags were emitted in this filing's interactive data instance — all figures below are sourced from the narrative and HTML-embedded iXBRL within the filing body, and none can be flagged in tag_insights per the instructions. The following analysis draws solely from the filing narrative.

Liability stack is the dominant driver of the negative recovery posture. Total loans payable stand at $434,500, entirely current, with eight instruments in default representing $199,350 of that balance. Accrued interest on loans payable is $39,402. Total convertible notes payable (gross principal) are $1,731,678, against which unamortized debt discount of $240,120 leaves a net carrying value of $1,491,558, also entirely current. Accrued interest on convertibles is $160,449. Twenty-one convertible notes with aggregate unpaid principal of $902,266 are in default as of March 31, 2026. Derivative liabilities (Level 3, Black-Scholes) stand at $997,271 after a $447,348 fair-value gain this quarter and $267,797 of new additions. An additional $40,000 in advances for convertible notes to be issued is outstanding. The combined debt and derivative liability stack exceeds $2.7 million, all current, against what appears to be a minimal tangible asset base consistent with a micro-cap app-stage company with quarterly revenue of $55,906.

Asset side provides negligible recovery buffer. The filing does not separately disclose a balance sheet in the truncated body provided, but MFFAIS liquidation values near negative $5.4 million imply total recoverable assets are immaterially small relative to the liability stack. No PP&E, intangibles, goodwill, or inventory disclosures appear in the visible filing text. The primary reported asset context is real estate pledged as collateral against the August 14, 2024 promissory note ('two Duffys' valued at $37,000), which is in default; the lender holds foreclosure rights on that collateral, further reducing free asset availability to other creditors.

Changes from prior period (December 31, 2025 10-K): Loans payable are flat at $434,500. Convertible note gross principal declined marginally from $1,735,044 to $1,731,678, reflecting Q1 2026 conversions of $36,814 principal plus $9,051 interest into 7,274,851 shares, partially offset by two new notes ($30,250 on February 6 and $63,199 on February 19). Unamortized debt discount doubled from $121,464 to $240,120 as new derivative-embedded convertibles added $267,797 of new discounts against $156,590 amortized. Derivative liability fell from $1,156,230 to $997,271 on a $447,348 fair-value gain, partially offset by $108,383 day-one loss on new notes. Accrued interest on convertibles decreased from $183,872 to $160,449 due to a $37,958 prior-period error reversal. Common shares outstanding increased from 99,061,523 to 107,427,223. Post-quarter, authorized shares were increased from 350 million to 750 million (April 17, 2026) to accommodate further conversion activity, underscoring ongoing dilution pressure from the default-laden convertible stack. The company also recognized a $37,958 prior-year interest calculation error reversed in Q1 2026, an internal control deficiency indicator consistent with the disclosed material weaknesses (no audit committee, no separation of duties, management override risk). Filing does not separately tag any balance sheet line items in XBRL, preventing quantitative cross-validation of individual asset or liability categories from the interactive data layer.