Thu, Aug 29, 7:28 PM (138 days ago)
NAMI Corp.'s Q3 2022 financial report indicates a continued struggle with profitability, reporting a net loss of $344,000, a notable improvement from a loss of $766,000 in Q3 2021. Revenues remained nonexistent, with no sales recorded during both periods. Operating expenses slightly decreased to $96,618, while other expenses dropped significantly due to reduced interest costs and changes in project financing liabilities. The company's working capital deficit increased to approximately $6.68 million, driven by rising current liabilities. Cash flow from operations improved, with cash used decreasing by 68% year-over-year. The firm ended the quarter with $15,263 in cash, an increase from $7,487 at the previous quarter's end. The report highlights uncertainties regarding future operations, particularly the need for additional financing to support ongoing activities and the potential impact of external factors like geopolitical tensions on operations. Management expressed concerns about the company's ability to continue as a going concern without successful capital raises or operational commencement in the sea sand mining sector.