First America Resources Corporation (FSTJ) reported a remarkable positive swing in QQ3 2025, posting an operating income of 35,083 and net income of 35,158, with basic earnings per share (EPS) of 0.004 on 7.964 million weighted-average shares. This is a stark contrast to prior quarterly results in 2024 and 2025 Q1–Q2, which showed sizable year-to-date losses. However, the company operates from an exceedingly fragile balance sheet: total assets of 19,047 versus liabilities of 232,927 and negative shareholders’ equity of -213,880. Cash and cash equivalents stood at 19,047, with short-term debt of 228,933, leaving a current ratio, quick ratio, and cash ratio of 0.0818 each, signaling an acute liquidity constraint despite the quarterly profit. The reported results imply a high degree of accrual-based earnings or one-time/non-operating income, given the absence of reported revenue and the negative operating cash flow indicators that accompany the per-share profitability (operating cash flow per share and free cash flow per share both at -0.0008). Management commentary is not available in the provided transcript dataset, limiting visibility into the drivers behind the profit surge. Investors should treat the QQ3 2025 performance as highly event-driven and not necessarily indicative of sustainable, cash-generative profitability. The company’s leverage, weak liquidity, and negative equity remain meaningful, constraining long-term upside absent a material improvement in asset utilization, revenue generation, and balance-sheet resilience.