Fri, Jul 12, 12:36 PM (57 days ago)
Alixo-Yolloo Corporation's Q1 2024 financial report highlights a challenging quarter. The company reported a net loss of $12,312, a significant increase from the $1,749 loss in Q1 2023, driven by higher general and administrative expenses, including professional fees and website development costs. Revenue decreased to $3,972 from $7,933 year-over-year. Cash reserves fell sharply to $192 from $9,073 at the previous quarter's end, with total liabilities at $65,715, including a related party loan of $56,998. The company faces substantial doubt about its ability to continue as a going concern due to ongoing losses and limited revenue generation. Management plans to finance operations through existing cash, loans, and potential equity sales.