Wed, May 14, 10:17 AM (30 days ago)
**Greenpro Capital Corp. (GRNQ) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** Total revenue for Q1 2025 was $352,755, down from $658,399 in Q1 2024, primarily due to a decrease in service business revenue. - **Profit Margins:** The company reported a net loss of $635,576 for Q1 2025, compared to a net loss of $272,910 in Q1 2024. - **Cash Flow:** Net cash used in operating activities was $240,942 for Q1 2025, a decrease from $540,043 in Q1 2024. - **Earnings Changes:** The increase in net loss was mainly due to a decrease in service revenue. **Segment Performance:** - **Service Business:** Revenue from service business decreased to $310,853 in Q1 2025 from $633,792 in Q1 2024. - **Digital Business:** Digital revenue was $26,256 in Q1 2025, with no digital revenue in Q1 2024. - **Real Estate Business:** Rental revenue decreased to $15,646 in Q1 2025 from $24,607 in Q1 2024. **Trends and Uncertainties:** - The company faces substantial doubt about its ability to continue as a going concern within one year. - The company's independent registered public accounting firm has expressed substantial doubt about the company's ability to continue as a going concern. - The company is exploring new markets to recover service revenue. **Future Operations Impact:** - The company intends to monitor the closing price of its common stock and may consider available options to regain compliance with the minimum bid price requirement. - The company expects its G&A expenses to slightly increase as it develops its digital platform business and digital banking businesses. **Key Metrics:** - **Total Assets:** $6,319,391 as of March 31, 2025. - **Total Liabilities:** $1,741,126 as of March 31, 2025. - **Stockholders' Equity:** $4,578,265 as of March 31, 2025. **Related Party Transactions:** - The company had significant related party transactions, including service revenue, cost of service revenue, general and administrative expenses, and other income. - The company had amounts due from and to related parties as of March 31, 2025. **Cybersecurity and Risk Management:** - The company recognizes the importance of cybersecurity and has integrated cybersecurity risk management into its broader risk management framework. - The company has not encountered material cybersecurity incidents but continues to monitor and assess its cybersecurity risk management program. **Legal Proceedings:** - The company is involved in a legal proceeding with Millennium Fine Art Inc. (MFAI) regarding a breach of contract and is vigorously defending the matter. **Conclusion:** Greenpro Capital Corp. faced significant financial challenges in Q1 2025, with a decrease in revenue and an increase in net loss. The company is exploring new markets and considering options to regain compliance with the minimum bid price requirement. The company's ability to continue as a going concern is dependent upon improving its profitability and the continuing financial support from its major shareholders.