Thu, Oct 10, 3:06 PM (156 days ago)
Keemo Fashion Group Limited (KMFG) reported a revenue increase to $21,522 in FY 2024 from $16,945 in FY 2023. However, the company incurred a net loss of $42,275, up from $22,196 the previous year, primarily due to rising general and administrative expenses, which grew to $52,861 from $30,605. The firm’s cash reserves decreased to $19,421, raising concerns about its ability to sustain operations without further funding. The company operates in the apparel wholesale sector, targeting small to medium retailers in Asia. It relies heavily on its director, Liu Lu, for financial support, with $69,919 owed to her as of July 31, 2024. A ten-for-one stock split was executed on August 8, 2024, increasing shares outstanding to 55 million without changing ownership percentages. The financial outlook appears uncertain, given the substantial losses and reliance on director funding. Competitive pressures in the apparel market and operational risks, including reliance on a limited customer base, further complicate the company’s position. Overall, Keemo Fashion Group Limited must secure additional financing to continue its operations and strategic growth plans.