Wed, Feb 5, 2:58 PM (12 days ago)
For the quarter ended June 30, 2024, Tribal Rides International Corp. (XNDA) reported no revenue, consistent with the previous year. Operating expenses significantly decreased from $356,286 in Q2 2023 to $0 in Q2 2024, primarily due to the absence of consulting and marketing fees. The net loss reduced to $0 from $187,630 year-over-year. For the six months ended June 30, 2024, the company reported a net loss of $41,831, a notable decrease from $645,672 in the same period of 2023, reflecting lower expenses. As of June 30, 2024, total assets stood at $142,457, down from $178,157 at year-end 2023, while total liabilities increased slightly to $888,450. Cash flow from operating activities showed a modest outflow of $3,000, contrasting with a larger outflow of $124,953 in the prior year. The company continues to face significant uncertainty regarding its ability to raise capital and achieve profitable operations. The ongoing development of its digital transportation platform remains critical for future growth, with a phased launch expected in 2024.