Tue, Nov 12, 6:47 PM (90 days ago)
**Summary of MakingORG, Inc. (CQCQ) 10-K Filing for Fiscal Year Ended December 31, 2023** MakingORG, Inc. reported significant revenue growth of 267%, reaching $142,048 compared to $38,751 in 2022, driven by recovery from COVID-19 impacts in China. However, the company incurred a net loss of $82,682, a 29% improvement from the previous year's loss of $116,355. Operating expenses rose 14% to $115,186, mainly due to increased professional fees. The company’s financial condition remains precarious, with total liabilities of $829,424 against total assets of $81,097, leading to negative working capital of $542,944. Cash reserves decreased by 22% to $18,504. The reliance on a single customer for all revenue poses a concentration risk. Strategically, the company continues to seek growth opportunities in the health product sector, particularly in the U.S. and China. However, it faces risks related to regulatory changes in China, currency fluctuations, and potential difficulties in raising additional capital. The company has not declared dividends and lacks a formal audit committee, raising governance concerns. Future outlook hinges on effective capital raising and operational improvements. The company’s ability to continue as a going concern is doubtful without substantial financial support.