Wed, Dec 11, 12:13 PM (68 days ago)
Natural Resource Holdings, Inc. (NRHI) reported a net loss of $10,252 for Q3 2024, a slight increase from $9,477 in Q3 2023, attributed to rising accounting fees. For the six months ending October 31, 2024, the net loss was $19,414, significantly lower than $2,019,733 in the prior year, primarily due to the absence of stock-based compensation that inflated previous losses. The company has no current assets and a working capital deficiency of $170,009, down from $174,570, reflecting a decrease in accounts payable. Total liabilities increased to $317,862 from $299,429, driven by convertible notes payable, which stood at $147,853 after accounting for discounts. Operating expenses included general and administrative costs of $8,044, reflecting a 10% increase year-over-year. The company is in exploration for mining properties but has yet to generate revenue. Management plans to raise additional funds through equity or debt offerings to support operations. The financial position raises concerns about the company's ability to continue as a going concern without further financing.