Thu, Aug 22, 10:03 AM (145 days ago)
For the quarter ended June 30, 2024, SUIC Worldwide Holdings Ltd. reported revenues of $30,000, unchanged from Q2 2023, but down from $90,000 for the six months ended June 30, 2023. Operating expenses decreased to $7,991 from $12,693 year-over-year, leading to a net income of $12,037 compared to $4,866 in Q2 2023. Despite this improvement, the company faced a working capital surplus of $95,950 against an accumulated deficit of $1,710,198, raising concerns about its ability to continue as a going concern without generating positive cash flow. Cash flow from operations was negative at $(3,729), reflecting ongoing liquidity challenges. The company is focusing on new business ventures, particularly in fintech and food supply chain integration, and plans to raise funds through IPOs for expansion. Additionally, the company is navigating uncertainties surrounding credit risks and operational dependencies, primarily on a single customer, East West Development LLC. Future operations may hinge on successful joint ventures and strategic partnerships to stabilize cash flow and growth.