Madison Technologies Inc. (MDEX) reported a net loss of $2.98 million for the year ended December 31, 2025, with a basic and diluted loss per share of $0.002. The company generated no revenue during the year and recorded a working‑capital deficit of $23.31 million as of year‑end.
The loss widened from the $2.8 million net loss reported for 2024, while revenue remained zero in both years. The increase in losses reflects a rise in operating expenses, particularly general and administrative costs and professional fees, which grew relative to the company’s already minimal revenue base.
Management attributed the loss to continued operating expenses and the absence of any revenue streams. In its 10‑K filing, the company stated, "We will require additional capital to meet our long‑ and short‑term operating requirements," and added, "We expect to raise additional capital through, among other means, the issuance of equity or debt securities and the continued execution of our business plan." The filing also noted substantial doubt about the company’s ability to continue as a going concern without fresh capital or strategic transactions.
Madison Technologies has pivoted to a remote‑only shell focused on building BlockchainTV, a 24/7 broadcast and streaming network dedicated to cryptocurrency news and entertainment. The company has defaulted on $16.5 million in senior secured notes and has additional debt in default totaling roughly $3.5–$4.6 million, with interest rates up to 22%. A judgment of $581,304 has also been entered against the company, and auditors have raised significant going‑concern doubts.
The combination of zero revenue, a growing loss, a large working‑capital deficit, and high dilution—over 1.67 billion shares outstanding as of April 14, 2026—places Madison Technologies in a precarious liquidity position. The company’s stated intent to raise capital and pursue mergers or asset sales underscores the urgency of securing new funding to avoid insolvency and to support the development of its BlockchainTV initiative.
The results signal that Madison Technologies is in a critical financial state, with management acknowledging the need for substantial capital infusion and the possibility of strategic transactions to survive. Investors and stakeholders should monitor the company’s ability to raise funds and execute its pivot, as failure to do so could lead to further deterioration of its financial position.
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