Tue, Jan 28, 7:28 PM (14 days ago)
Alexander Tech Corp (OTC: ATCH) reported a net loss of $26,610 for the six months ended October 31, 2024, compared to a loss of $40,846 in the same period of the prior year. The company continues to operate without generating revenue, maintaining total assets of $10,310, down from $11,879 at April 30, 2024. Current liabilities increased to $342,294, leading to a working capital deficit of $331,984. Cash flow remains constrained, with cash on hand decreasing slightly to $10,310. Expenses decreased due to reduced general and administrative costs, primarily from lower consulting and professional fees. The company relies on debt and equity financing for operations, with significant obligations to related parties totaling $299,745. Management expresses uncertainty regarding future financing, which is critical for sustaining operations and pursuing potential business combinations. The company’s status as a "blank check" entity continues, with no identified merger targets. The continuation of operations is contingent on obtaining further financial support. Overall, the outlook remains uncertain, with ongoing cash flow challenges and reliance on external funding sources.