Tue, Nov 19, 9:17 PM (55 days ago)
LSEB Creative Corp. (OTC: LSEB) reported its Q2 results for the period ending September 30, 2024, indicating a challenging financial landscape. The company generated $2,574 in sales compared to no sales in Q2 2023, totaling $8,856 for the six months. Operating expenses were $52,773, down from $59,570 a year earlier, primarily due to decreased advertising costs. However, the net loss narrowed to $49,560 from $61,341 in Q2 2023, reflecting ongoing consulting and professional fees. As of September 30, 2024, LSEB's cash balance stood at $1,988, down from $4,448 in March 2024. The company has accumulated losses of $641,870 since inception, raising substantial doubt about its ability to continue as a going concern without additional financing. Management is actively pursuing capital through private placements, aiming to raise a minimum of $400,000 for operational and marketing activities. Future operations hinge on securing funding and successfully launching new product lines, with an anticipated sales growth rate of 50% annually over the first three years. The company is poised to expand its luxury swimwear offerings, capitalizing on market trends and e-commerce growth.