10-Q - Blue Chip Capital Group Inc. (0001932213) (Filer)

Thu, Apr 10, 8:16 PM (17 days ago)

### Blue Chip Capital Group, Inc. (BCCG) Q3 2024 Financial Summary **Company Overview:** Blue Chip Capital Group, Inc. (BCCG) is a Nevada-based company focused on crowdfunding operations through its subsidiaries in various jurisdictions, including the U.S., Sweden, Morocco, and Brazil. The company has not generated any revenue since its inception in November 2019. **Financial Performance:** - **Revenue:** $0 for the three and six months ended November 30, 2024. - **Operating Expenses:** $84,042 for the three months ended November 30, 2024, and $127,461 for the six months ended November 30, 2024, primarily due to general and administrative expenses. - **Net Loss:** $84,042 for the three months ended November 30, 2024, and $127,461 for the six months ended November 30, 2024. - **Cash Flow:** The company used $28,724 in operating activities for the six months ended November 30, 2024, compared to $254,933 in the same period of the prior fiscal year. Financing activities provided $36,000 during the six months ended November 30, 2024. **Financial Health:** - **Cash Position:** $10,019 as of November 30, 2024, compared to $2,743 as of May 31, 2024. - **Liabilities:** Total liabilities increased to $303,002 as of November 30, 2024, from $169,265 as of May 31, 2024. - **Stockholders' Deficit:** Increased to $204,393 as of November 30, 2024, from $77,932 as of May 31, 2024. **Future Operations and Uncertainties:** - **Capital Raising:** The company plans to raise capital through private offerings, convertible notes, and potentially an IPO. However, there is no assurance that these efforts will be successful. - **Going Concern:** The company's ability to continue as a going concern is dependent on its ability to generate revenue and secure additional funding. The auditors have expressed substantial doubt about the company's ability to continue as a going concern. - **Regulatory Environment:** The company operates in a highly regulated industry, and changes in regulations could impact its operations and business model. - **Dependence on Management:** The company's success is largely dependent on its current management team, and the loss of key personnel could adversely affect its business. **Conclusion:** Blue Chip Capital Group, Inc. faces significant financial challenges and uncertainties. The company has not generated any revenue and has incurred substantial losses. Its ability to continue operations depends on its success in raising additional capital and navigating regulatory challenges. Investors should carefully consider these risks before making any investment decisions.