Thu, May 15, 7:42 PM (39 days ago)
**First America Resources Corporation (FSTJ) Q1 2025 Financial Summary** **Financial Health:** - **Cash Position:** $19,047,000 (down from $34,807,000 in Q4 2024). - **Working Capital:** Negative $213,879,000 (worsened from negative $172,638,000 in Q4 2024). - **Total Liabilities:** $232,927,000 (slightly increased from $232,445,000 in Q4 2024). - **Total Equity:** Negative $213,880,000 (decreased from negative $172,638,000 in Q4 2024). **Performance Metrics:** - **Revenue:** $0 for Q1 2025 (no change from Q1 2024). - **Gross Profit:** $0 for Q1 2025 (no change from Q1 2024). - **Operating Expenses:** $6,084,000 for Q1 2025 (down from $7,400,000 in Q1 2024). - **Net Loss:** $6,084,000 for Q1 2025 (improved from $7,400,000 loss in Q1 2024). **Cash Flow:** - **Net Cash Used in Operating Activities:** $15,759,000 for Q1 2025 (improved from $54,220,000 in Q1 2024). - **Cash and Cash Equivalents:** $19,047,000 at the end of Q1 2025 (down from $34,807,000 in Q4 2024). **Earnings Changes:** - **Net Loss per Share:** $0.00 for Q1 2025 (no change from Q1 2024). **Quarterly Performance Discussion:** - The company reported no revenue for Q1 2025, consistent with the previous year. - Operating expenses decreased, contributing to a reduced net loss compared to Q1 2024. - Cash flow from operating activities improved significantly. - The company's financial statements indicate substantial doubt about its ability to continue as a going concern. **Trends and Uncertainties:** - The company has been operating at a loss and has no significant revenue. - Heavy reliance on loans from the CEO and majority shareholder, Jian Li. - Plans to acquire METech Recycling, Inc., which could potentially change the company's financial outlook. - The company's status as a shell company until the acquisition was completed. **Future Operations Impact:** - The acquisition of METech Recycling, Inc., could provide a new revenue stream and operational focus. - Continued reliance on loans from the CEO may pose financial risks. - The company's ability to secure additional funding or generate significant revenue is uncertain.