Fri, Jul 26, 10:08 AM (43 days ago)
MakingORG, Inc. reported a net loss of $50,051 for the six months ended June 30, 2023, a 40% improvement from the $82,868 net loss in the same period of 2022. Despite generating $12,058 in net sales from related parties, the company continues to face financial challenges, including a substantial stockholders' deficit of $715,421 and negative working capital of $493,731. Operating expenses decreased by 38% year-over-year due to reduced activities amid the COVID-19 pandemic. The company's ability to continue as a going concern is uncertain, relying heavily on additional capital investment. Cash flow from operations showed a deficit of $8,067, with no significant financing activities in the first half of 2023. The convertible note payable remains at $200,000. Management is focused on raising funds to sustain operations.