Mon, Aug 19, 9:32 PM (148 days ago)
AI Unlimited Group, Inc. reported no significant revenue for the fiscal years ending December 31, 2023, and 2022, resulting in net losses of $2,975,857 and $1,932,194, respectively. Operating expenses included $1,484,689 in general and administrative costs and $215,717 in sales and marketing expenses for 2023. As of December 31, 2023, the company had a cash balance of $11,012 and an accumulated deficit of $4,908,051, raising concerns about its ability to continue as a going concern. The company is in the development stage, focusing on its Lever App for student loan and debt management, expected to launch officially in Q2 2024. The company plans to raise capital through equity offerings to support operations and enhance user experience. It anticipates challenges due to increased customer acquisition costs from changes in data privacy regulations. The strategic focus remains on growing its subscriber base and expanding into new markets while addressing risks associated with ongoing operational losses and reliance on external funding. The financial outlook remains uncertain, contingent on successful app launch and user acquisition strategies.