Mon, Aug 19, 11:57 AM (148 days ago)
For the quarter ended June 30, 2024, OneSolution Technology Inc. reported a net loss of $161,652, an increase from a loss of $140,360 in the same quarter of 2023. Revenue rose to $19,189, up from $12,757, driven by a significant increase in technical consultancy services. However, operating expenses surged to $169,440, primarily due to new research and development costs of $66,000 and increased sales and marketing expenses. The company experienced a gross profit of $7,676, compared to $5,103 in the prior year. Current assets increased to $136,874 from $132,876, while current liabilities also rose to $3,335,885 from $3,165,453, leading to a stockholders’ deficit of $3,199,011. Cash flow from operations showed a net outflow of $37,223, offset by financing activities that generated $47,525. The company continues to face liquidity risks and relies heavily on shareholder support for future financing. Furthermore, regulatory uncertainties in Hong Kong and China could impact operations and financial stability. The company does not anticipate paying dividends in the near future.