Tue, Nov 19, 2:52 PM (87 days ago)
TechCom, Inc. (ticker: N/A), in its 10-Q for the quarter ending September 30, 2024, reported no revenue, maintaining a non-operating status as it seeks potential acquisition targets. The company incurred a net loss of $18,830 for Q3 2024, compared to a loss of $11,829 in Q3 2023, primarily due to increased professional fees. Year-to-date losses totaled $44,730 in 2024 versus $58,008 in 2023, indicating a reduction in overall expenses, particularly in general and administrative costs, which fell from $32,731 to $6,482. As of September 30, 2024, TechCom's total liabilities stood at $246,661, with a stockholders' deficit of $246,661 and an accumulated deficit of $2,666,227. The company has no cash reserves, raising concerns about its ability to continue as a going concern without additional capital. Management emphasizes the need for further financing to support operations and potential acquisitions, highlighting significant risks and uncertainties regarding future operations. The report suggests ongoing efforts to identify viable business opportunities, but success remains uncertain.