Tue, Sep 10, 4:27 PM (102 days ago)
The Marquie Group, Inc. (TMGI) reported no revenue for the fiscal year ending May 31, 2024, maintaining an accumulated deficit of $14,863,486 and a net loss of $165,456. Operational expenses increased to $549,473, primarily due to salaries and consulting fees, reflecting a shift towards enhancing the health and beauty sector. TMGI's strategic focus includes ownership of 100% of Music of Your Life, Inc. and a 25% stake in Simply Whim, Inc., aiming to expand product offerings and market presence. The company's financial condition remains precarious, with liquidity issues evidenced by only $1,250 in cash. The reliance on equity financing is expected to lead to shareholder dilution. The acquisition of Simply Whim and the joint venture with AminoMints are pivotal for future revenue generation, particularly in the growing health and beauty market, projected to exceed $172 billion. Risks include market volatility for micro-cap stocks and reliance on investor support. The company's future depends on successful execution of its business strategy, including capital raising efforts and product launches. The dismissal of its previous auditor and engagement of a new firm signals ongoing changes in governance and oversight.