Fri, Aug 23, 3:33 PM (144 days ago)
For the quarter ended May 31, 2024, Intorio Corp. reported no revenue, a significant decline from $1,350 in the same period last year. The company incurred a net loss of $1,918, a reduction from $9,877 in the previous year, driven by lower operating expenses of $921 compared to $11,227 in Q2 2023. Total assets decreased to $0 from $1,918, with liabilities including a director loan of $26,660 and accounts payable of $27,500. Stockholders' equity improved due to the conversion of debt to equity, resulting in a deficit of $79,061. The company continues to face substantial doubts regarding its ability to sustain operations without additional capital. Management plans to secure funding through equity and debt financing, although no specific arrangements are in place. The financial statements reflect a going concern assumption, indicating the need for further capital to meet operational requirements. The transition in leadership and the shift towards a focus on functional medicine may influence future performance. Overall, the financial health remains precarious, with urgent capital needs to support ongoing operations.