Blue Gold six-month net loss widens 12% to $8.78 million; general and administrative expenses jump to $9.31 million
BGL•Blue Gold reported a six-month net loss of $8.78 million, up from $7.84 million, as general and administrative expenses rose 199% to $9.31 million. The company cited substantial doubt about its ability to continue as a going concern, with a $17.9 million net working capital deficit at June 30, 2026.
1. Six-month results
Blue Gold’s net loss widened to $8.78 million for the six months ended June 30, 2026, from $7.84 million a year earlier. General and administrative expenses increased 199% to $9.31 million, and total operating expenses rose 81% to $10.49 million.
2. Liquidity position
Net cash used in operating activities increased 25% to $5.62 million, and cash totaled $591,641 at June 30, 2026. Management said liquidity conditions raised substantial doubt about the company’s ability to continue as a going concern; its net working capital deficit was $17.9 million.
