MIAMI, May 14, 2026 (GLOBE NEWSWIRE) — UMeWorld Inc. (OTCID:UMEW) today announced its unaudited financial results for the second fiscal quarter ended March 31, 2026, reflecting accelerating commercial activity across its consumer wellness platform and continued advancement of Project Verdant, the Company’s sustainable aviation fuel (SAF) initiative.
Revenue for the quarter reached $351,187, representing a 138% increase from $147,455 in the prior quarter, driven by expanding distributor activity and growing sales across U.S. and Asia-Pacific markets. Gross profit increased to $15,152 compared to $4,692 in the prior quarter, while net loss improved to $105,450 from $145,230 in Q1 FY2026.
The quarter marked an important transition for the Company as initial platform development efforts began converting into commercial revenue growth. Inventory declined from approximately $1.68 million at December 31, 2025 to approximately $1.37 million at March 31, 2026, reflecting increasing product sell-through and broader market penetration.
UMeWorld continues to execute a dual-platform growth strategy designed to capture both near-term consumer market opportunities and long-term renewable fuels infrastructure value. Its DAGola® branded functional nutrition business is entering an early scaling phase, while Project Verdant advances as the Company’s SAF development platform focused on feedstock resilience and long-term supply scalability.
As previously announced, the Company completed Phase I process engineering design for its planned pretreatment unit (PTU) and continues evaluating SAF technology partners utilizing the established HEFA pathway. The Company is also advancing discussions with potential technology licensors, EPC contractors, technical advisory firms, and other strategic participants to support the next stage of Project Verdant’s development and execution strategy.
In parallel, UMeWorld is advancing its Single Cell Oil (SCO) initiative together with research collaborators as part of the Company’s long-term feedstock strategy for Project Verdant. SCO is an emerging industrial biotechnology pathway capable of producing renewable lipids through microbial fermentation utilizing waste biomass feedstocks. The Company’s development efforts are focused on process optimization, yield improvement, and advancement toward commercial-scale deployment, with an emphasis on low-carbon feedstock strategies intended to support favorable carbon intensity (CI) profiles and long-term regulatory alignment within global SAF markets, including Europe.
“Q2 represents an important inflection point for the Company,” said Michael Lee. “We are beginning to see our distribution platform translate into accelerating commercial activity, increasing product movement, and broader market engagement, while at the same time advancing our long-term SAF strategy. We believe Single Cell Oil (SCO) is a transformative pillar of UMeWorld’s long-term SAF strategy. While the industry currently faces a ‘supply ceiling’ due to the finite nature of waste oils and fats, SCO provides a pathway to develop renewable lipids through biotechnology at potentially scalable volumes. In our view, long-term competitiveness and bankability in SAF will increasingly depend not only on refining capacity, but also on access to secure, scalable, and resilient feedstock supply. By integrating SCO into Project Verdant’s long-term feedstock strategy, we believe we are addressing one of the most critical structural challenges facing the SAF industry today and strengthening the foundation for a durable, scalable, and financeable SAF platform.”
About UMeWorld Inc.
UMeWorld Inc. is a platform company focused on renewable fuels, advanced feedstock development, and functional nutrition. The Company is developing scalable infrastructure and feedstock solutions supporting the global energy transition while continuing to expand its DAGola® branded wellness and functional nutrition business across North America and Asia-Pacific markets.
About Project Verdant
Project Verdant is UMeWorld Inc.’s renewable fuels development platform focused on sustainable aviation fuel (SAF), feedstock resilience, and next-generation lipid supply systems. The initiative is centered on development of pretreatment infrastructure, scalable feedstock strategies, and advanced renewable lipid pathways, including Single Cell Oil (SCO), to support long-term SAF production and supply chain scalability.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the Company’s future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements may include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “may,” “will,” or similar expressions. These statements are based on current expectations and assumptions and are subject to risks described in the Company’s filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements except as required by law.
CONTACT
Michael Lee
CEO, UMeWorld Inc.
investors@umeworld.com
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