Thu, Nov 14, 3:53 PM (29 days ago)
Green Planet Bioengineering Co., Ltd. (Ticker: GPLB) reported its quarterly results for the period ending September 30, 2024. The company continues to operate as a public shell corporation with no active business operations, relying heavily on a related party for financial support. Total current liabilities increased to $452,343 from $429,590, while the stockholders' deficit grew to $452,343 from $429,590, reflecting an accumulated deficit of $1,081,963. For the three months ended September 30, 2024, the company recorded a net loss of $5,425, a decrease from a loss of $7,752 in the same period last year. Year-to-date, losses improved to $22,753 compared to $34,120 in 2023. The lack of revenue continues to be a significant concern, with all expenses attributed to administrative costs. The company’s ability to continue as a going concern is contingent upon ongoing support from its majority stockholder, raising substantial doubts about its operational viability. Future growth and business opportunities remain uncertain, dependent on securing adequate financing and identifying profitable ventures. Overall, the financial health remains precarious, with no cash reserves reported and reliance on debt from related parties.