BTTC
BTTC
Black Titan CorporationIncome Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $0 | $777K ▲ | $-1.8B ▼ | 0% | $-0.47 ▼ | $-803K ▼ |
| Q2-2025 | $0 | $657K ▲ | $-689K ▼ | 0% | $-0.16 ▲ | $-689K ▼ |
| Q1-2025 | $0 | $534K ▼ | $-563K ▲ | 0% | $-0.17 ▲ | $-563K ▲ |
| Q4-2024 | $0 | $666K ▼ | $-790K ▼ | 0% | $-0.54 ▼ | $-790K ▼ |
| Q3-2024 | $0 | $754K | $-763K | 0% | $-0 | $-763K |
What's going well?
There are no positives this quarter. The company has no revenue and is burning through cash.
What's concerning?
A gigantic one-time expense wiped out the bottom line, losses soared, and there is still no sign of any revenue. Interest costs are rising and overhead is out of control.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $74.09M ▲ | $23.23B ▲ | $3.34B ▲ | $19.89B ▼ |
| Q2-2025 | $21.34M ▲ | $23.16B ▲ | $2.62B ▲ | $20.53B ▲ |
| Q1-2025 | $1.95M ▲ | $2.16M ▼ | $279K ▼ | $1.88M ▲ |
| Q4-2024 | $371.96K ▼ | $2.22M ▼ | $1.21M ▲ | $1M ▼ |
| Q3-2024 | $3.4M | $3.6M | $371K | $3.23M |
What's financially strong about this company?
The company has a large equity cushion and customers are paying upfront for services, as seen in high deferred revenue. Debt is small compared to total assets.
What are the financial risks or weaknesses?
Cash is very low compared to bills due soon, and all debt is short-term. Most assets are intangible, with no physical assets or inventory, and retained losses are growing.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $-1.8B ▼ | $-326.78M ▼ | $-5K ▼ | $379.52M ▲ | $52.74M ▲ | $-326.78M ▼ |
| Q2-2025 | $-821.41M ▼ | $-317.46M ▼ | $0 | $242.31M ▲ | $-75.14M ▼ | $-317.46M ▼ |
| Q1-2025 | $-563K ▲ | $-867K ▼ | $0 | $-19K ▲ | $-886K ▼ | $-867K ▼ |
| Q4-2024 | $-790K ▼ | $-506K ▲ | $0 | $-62K ▼ | $-568K ▲ | $-506K ▲ |
| Q3-2024 | $-763K | $-693K | $0 | $0 | $-693K | $-693K |
What's strong about this company's cash flow?
Non-cash expenses like stock compensation make up most of the losses, so actual cash burn is smaller than the headline loss. The company was able to raise enough outside cash to keep going this quarter.
What are the cash flow concerns?
Cash from operations is deeply negative, and the company depends entirely on outside funding to survive. Stock-based compensation is extremely high, diluting shareholders, and the cash runway is short.
5-Year Trend Analysis
A comprehensive look at Black Titan Corporation's financial evolution and strategic trajectory over the past five years.
BTTC’s main strengths include a successful financial turnaround from deep losses to positive earnings and cash flow, meaning the business is no longer in survival mode. The balance sheet has been repaired, with reduced leverage, a move to net cash, and restored positive equity, giving the company more flexibility. Strategically, it has a clear flagship initiative in the DAT+ digital‑asset framework backed by a sizable, dedicated capital facility, as well as a collection of distinctive legacy assets—pharmaceutical IP, a patented jewelry technology, and HCM expertise—that provide multiple ways to create value. Cost discipline has been strong, leading to much better margins and cash conversion.
Key risks center on sustainability and execution. Historically, BTTC has experienced large losses, negative equity, and volatile assets; those scars remain visible in negative retained earnings and a still‑short record of profitability. The near‑cessation of reported R&D spending raises questions about the depth of its future product and technology pipeline. Strategically, the company’s pivot into digital assets exposes it to regulatory shifts, market swings, and intense competition, while the broad mix of unrelated businesses complicates management focus and synergy realization. Complex past transactions, including large and short‑lived intangibles, also hint at potential governance and capital‑allocation challenges.
The overall trajectory appears to be improving: earnings, cash flow, and balance‑sheet quality have all strengthened, and BTTC now has the financial breathing room and capital access to pursue its digital‑asset strategy more aggressively. The outlook will depend heavily on how well the company deploys its new financing facility, manages risk in a volatile asset class, and clarifies the role of its legacy pharma, jewelry, and HCM assets within a coherent long‑term plan. If it can maintain financial discipline while demonstrating that DAT+ and its other platforms can generate durable, repeatable value, the recent turnaround could become more firmly established; if not, the same financial leverage that once pressured the company could re‑emerge in different form through market and strategic missteps.
About Black Titan Corporation
Black Titan Corp. was formed for the purpose of effecting a merger between Titan Pharmaceuticals Inc. and TalenTec Sdn Bhd. It intends to explore and identify viable business opportunities. The company was founded on July 11, 2024 and is headquartered in Petaling Jaya, Malaysia.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q3-2025 | $0 | $777K ▲ | $-1.8B ▼ | 0% | $-0.47 ▼ | $-803K ▼ |
| Q2-2025 | $0 | $657K ▲ | $-689K ▼ | 0% | $-0.16 ▲ | $-689K ▼ |
| Q1-2025 | $0 | $534K ▼ | $-563K ▲ | 0% | $-0.17 ▲ | $-563K ▲ |
| Q4-2024 | $0 | $666K ▼ | $-790K ▼ | 0% | $-0.54 ▼ | $-790K ▼ |
| Q3-2024 | $0 | $754K | $-763K | 0% | $-0 | $-763K |
What's going well?
There are no positives this quarter. The company has no revenue and is burning through cash.
What's concerning?
A gigantic one-time expense wiped out the bottom line, losses soared, and there is still no sign of any revenue. Interest costs are rising and overhead is out of control.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q3-2025 | $74.09M ▲ | $23.23B ▲ | $3.34B ▲ | $19.89B ▼ |
| Q2-2025 | $21.34M ▲ | $23.16B ▲ | $2.62B ▲ | $20.53B ▲ |
| Q1-2025 | $1.95M ▲ | $2.16M ▼ | $279K ▼ | $1.88M ▲ |
| Q4-2024 | $371.96K ▼ | $2.22M ▼ | $1.21M ▲ | $1M ▼ |
| Q3-2024 | $3.4M | $3.6M | $371K | $3.23M |
What's financially strong about this company?
The company has a large equity cushion and customers are paying upfront for services, as seen in high deferred revenue. Debt is small compared to total assets.
What are the financial risks or weaknesses?
Cash is very low compared to bills due soon, and all debt is short-term. Most assets are intangible, with no physical assets or inventory, and retained losses are growing.
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q3-2025 | $-1.8B ▼ | $-326.78M ▼ | $-5K ▼ | $379.52M ▲ | $52.74M ▲ | $-326.78M ▼ |
| Q2-2025 | $-821.41M ▼ | $-317.46M ▼ | $0 | $242.31M ▲ | $-75.14M ▼ | $-317.46M ▼ |
| Q1-2025 | $-563K ▲ | $-867K ▼ | $0 | $-19K ▲ | $-886K ▼ | $-867K ▼ |
| Q4-2024 | $-790K ▼ | $-506K ▲ | $0 | $-62K ▼ | $-568K ▲ | $-506K ▲ |
| Q3-2024 | $-763K | $-693K | $0 | $0 | $-693K | $-693K |
What's strong about this company's cash flow?
Non-cash expenses like stock compensation make up most of the losses, so actual cash burn is smaller than the headline loss. The company was able to raise enough outside cash to keep going this quarter.
What are the cash flow concerns?
Cash from operations is deeply negative, and the company depends entirely on outside funding to survive. Stock-based compensation is extremely high, diluting shareholders, and the cash runway is short.
5-Year Trend Analysis
A comprehensive look at Black Titan Corporation's financial evolution and strategic trajectory over the past five years.
BTTC’s main strengths include a successful financial turnaround from deep losses to positive earnings and cash flow, meaning the business is no longer in survival mode. The balance sheet has been repaired, with reduced leverage, a move to net cash, and restored positive equity, giving the company more flexibility. Strategically, it has a clear flagship initiative in the DAT+ digital‑asset framework backed by a sizable, dedicated capital facility, as well as a collection of distinctive legacy assets—pharmaceutical IP, a patented jewelry technology, and HCM expertise—that provide multiple ways to create value. Cost discipline has been strong, leading to much better margins and cash conversion.
Key risks center on sustainability and execution. Historically, BTTC has experienced large losses, negative equity, and volatile assets; those scars remain visible in negative retained earnings and a still‑short record of profitability. The near‑cessation of reported R&D spending raises questions about the depth of its future product and technology pipeline. Strategically, the company’s pivot into digital assets exposes it to regulatory shifts, market swings, and intense competition, while the broad mix of unrelated businesses complicates management focus and synergy realization. Complex past transactions, including large and short‑lived intangibles, also hint at potential governance and capital‑allocation challenges.
The overall trajectory appears to be improving: earnings, cash flow, and balance‑sheet quality have all strengthened, and BTTC now has the financial breathing room and capital access to pursue its digital‑asset strategy more aggressively. The outlook will depend heavily on how well the company deploys its new financing facility, manages risk in a volatile asset class, and clarifies the role of its legacy pharma, jewelry, and HCM assets within a coherent long‑term plan. If it can maintain financial discipline while demonstrating that DAT+ and its other platforms can generate durable, repeatable value, the recent turnaround could become more firmly established; if not, the same financial leverage that once pressured the company could re‑emerge in different form through market and strategic missteps.

CEO
Weei Jye Chay
Compensation Summary
(Year )
Upcoming Earnings
Ratings Snapshot
Rating : B-

