Glidelogic Corp. Liquidation Value

Glidelogic Corp. (GDLG) presents a deeply negative liquidation posture as of January 31, 2026. Total assets of $5,196 face total liabilities of $131,108 at face value, producing a book equity deficit of ($125,912) and an estimated liquidation recovery to equity of approximately ($128,000) after applying standard haircuts: cash of $68 recovers at 100% ($68), prepaid expenses of $2,635 recover at 0% (non-transferable), and PP&E of $2,493 (equipment net book value) recovers at roughly 50% ($1,247). Total estimated recoverable asset value is approximately $1,315 against $131,108 in liabilities — a shortfall of approximately ($129,800). This aligns with MFFAIS-reported CLV/LLV/OLV of ($131,040).

The liability stack deteriorated sharply during the fiscal year. Total current liabilities increased from $37,534 (January 31, 2025) to $131,108 (January 31, 2026), a 249% increase driven almost entirely by related-party note payables. The NotesPayable line (Note Payable - Related Party, encompassing loans from Streamline USA Inc., Mr. Dapeng Ma, and Mr. Yitian Xue) grew from $22,132 to $123,163 during the year. The Streamline loan alone accounts for $104,563 of this balance, drawn in multiple tranches throughout FY2026 from $0 at fiscal year start. All related-party loans were interest-free through January 31, 2026 per amended agreements; interest at 3% per annum began accruing February 1, 2026. Subsequent events confirm further borrowing post-period-end, with Mr. Ma's balance growing to $29,900 and Mr. Xue's to $21,903 by April 2026, and all loan maturities extended to January 31, 2027.

The asset side is essentially nominal. Cash fell from $2,107 to $68 during the year, with operating cash outflows of ($103,071) covered entirely by related-party financing inflows of $101,032. Revenue for the full fiscal year was $77 — comprised of $2.43 in TikTok commissions and $75 from ResearchMind code sales — compared to $33,563 in the prior year, an effective collapse in commercial activity. G&A expense of $93,475 (vs. $60,999 in FY2025) reflects audit fees, consulting, and R&D-related costs. The going concern qualification is unambiguous: auditors at Fruci & Associates II note recurring losses, working capital deficit, and net cash used in operations. Management's sole disclosed plan is continued reliance on related-party capital injection. No pension, operating lease, or production commitments are disclosed. The filing does not separately tag deferred tax assets net of valuation allowance (both zero), confirming no balance-sheet value from the $159,218 NOL carryforward. Filing discusses the NOL and valuation allowance in the income tax footnote but the net deferred tax asset tags correctly show zero.