Tue, Nov 12, 4:07 PM (66 days ago)
Tech Tonic Group Corp. (Ticker: TTON) reported its quarterly financial results for the period ending September 30, 2024. The company, in its development stage, recorded revenue of $10,000, a significant increase from $0 in the previous period. Operating expenses totaled $2,954, leading to a net income of $7,046, contrasting with a net loss of $301 since inception. The balance sheet reflects total assets of $11,900, up from $2,000, with current liabilities increasing to $7,854 from $5,000. Stockholders' equity improved to $4,046, recovering from a deficit of $3,000. Cash flow from operating activities was positive at $5,633, attributed to net income and amortization, while cash used in investing activities was $3,499 for website development. Despite these improvements, the company faces uncertainties regarding its ability to sustain operations without additional capital, as highlighted by the "going concern" warning. Future growth will depend on securing further financing and generating consistent revenue. Management plans to address funding needs through equity and debt offerings, although there is no assurance of success. The company's financial health shows positive trends, but operational risks remain significant.