Tue, May 6, 12:50 PM (17 days ago)
**Vanjia Corporation (VNJA) 10-K/A Summary** **Financial Performance (in 000s):** - **Revenue:** $0 for 2024, down from $82,720 in 2023. - **Net Income:** $(13,943) for 2024, compared to $73,419 in 2023. - **Operating Expenses:** $13,943 for 2024, up from $9,301 in 2023. - **Earnings Per Share:** $(0.00) for 2024, same as 2023. **Financial Condition:** - **Total Assets:** $77,609 as of December 31, 2024, down from $833,553 in 2023. - **Total Liabilities:** $0 for 2024 and 2023. - **Working Capital:** $77,609 for 2024, down from $833,553 in 2023. - **Accumulated Deficit:** $(119,790) as of December 31, 2024, up from $(105,847) in 2023. - **Line of Credit:** $5,000,000 available at 0% interest, no outstanding balance as of December 31, 2024. **Strategic Overview:** - Focus on building affordable housing in Houston's designated HOPE and Workforce neighborhoods. - Plans to conduct affordable housing seminars and leverage community leaders for marketing. - Targeting veterans, real estate agents, and Section 8 tenants for potential buyers. **Future Outlook:** - Plans to build 2-3 homes in 2025, 3-5 homes in 2026, and 5-8 homes in 2027. - Estimated costs for each milestone: $160,000 for 2025, $240,000 for 2026, and $380,000 for 2027. - Expects to cover operational expenses through the sale of new homes, leasing activities, and additional offerings for equity or debt securities. **Risk Factors:** - As a smaller reporting company, Vanjia Corporation is subject to various risks common to start-up companies, including capitalization, uncertainty of funding sources, high initial expenditure levels, uncertain revenue streams, and difficulties in managing growth. - The company's financial statements do not reflect any adjustments that might result from the outcome of this uncertainty. **Market Position Changes:** - Quoted on the OTCMarkets.com under the ticker symbol VNJA. - Share price ranged from $3.00 to $6.50 in 2024. - 30,000,000 shares of common stock issued and outstanding as of December 31, 2024. **Amendment Details:** - The purpose of this 10-K/A amendment is due to a change in the auditors' opinion. - The auditors, Boladale Lawal & Co, expressed substantial doubt about the company's ability to continue as a going concern. - The company believes its current plans and line of credit will enable it to continue as a going concern.