Fri, Jul 26, 8:01 PM (43 days ago)
MakingORG, Inc.'s Form 10-Q for the quarter ended September 30, 2023, highlights significant financial changes and ongoing concerns. The company reported a 136% increase in net sales to $93,375 compared to the same period in 2022, primarily due to increased related party sales in China. However, it continues to face financial challenges with a net loss of $41,143 for the nine months ended September 30, 2023, though this is an improvement from the $92,970 loss in the same period last year. Operating expenses decreased by 20%, reflecting cost management efforts. The company has a significant stockholders' deficit of $707,393 and a convertible note payable of $200,000 maturing in 2024. Cash flow from operations improved to $20,226, but the company remains reliant on additional capital to sustain operations, raising substantial doubt about its ability to continue as a going concern. Future performance remains uncertain, dependent on raising further capital and improving revenue streams.