Macreport Net Inc Liquidation Value

MACREPORT NET INC (MRPT) is a pre-revenue, pre-operational shell-stage entity with zero reported assets as of February 29, 2024. Under the liquidation lens, recovery to equity is negative $18,200 — the entirety of the liability stack — with zero asset-side offset. There are no cash, receivables, inventory, PP&E, or intangibles on the balance sheet to apply haircuts to; the haircut schedule is moot because the asset base is literally zero. The liability stack consists of two items: $800 in accrued expenses and $17,400 in related-party notes payable (amounts owed to the CEO for expenses funded on the company's behalf). Both obligations remain at face value in a wind-up scenario. Total liabilities of $18,200 against zero assets produces liquidation recovery to equity of negative $18,200. This is the entirety of the liquidation calculus — there is nothing to recover. The deficit position deteriorated by $800 during Q1 FY2024 (quarter ended February 29, 2024) versus the November 30, 2023 balance of negative $17,400, driven entirely by $800 of SG&A expenses funded through an additional $1,000 draw on the CEO's related-party loan facility (operating cash outflow of $1,000 was offset by $1,000 financing inflow from related-party debt, netting to zero cash movement). The company has no revenue, no operating history, and a cumulative accumulated deficit of $4.70M since inception — the bulk of which ($4.68M) sits in additional paid-in capital, implying historical capital was raised and consumed. The company's stated business purpose is developing a SEC/FINRA-compliant digital asset exchange ('macXcoin'), for which no regulatory approvals have been obtained and no operations have commenced. The NOL carryforward of approximately $4.68M (per the year-end November 30, 2023 disclosure) is fully reserved with a 100% valuation allowance and carries zero balance-sheet value. No prior filing was provided for period-over-period comparison; the comparison above is derived from the November 30, 2023 balance sheet included in this 10-Q as the comparative period. Filing discloses working capital deficit of $18,200 in the going concern note but does not separately tag this figure as a distinct XBRL concept — it appears only under a company-specific tag 'mrpt:WorkingCapitalDeficit' used in narrative context.