Thu, Aug 15, 2:44 PM (338 days ago)
For the quarter ending June 30, 2024, Altair International Corp. reported a net loss of $43,343, a significant reduction from a loss of $170,960 in the same quarter of 2023. Operating expenses decreased to $34,785, primarily due to lower general and administrative costs. Total liabilities increased to $217,558, reflecting rising accounts and interest payable. Cash flow from operating activities showed a slight improvement, with $23,487 used compared to $25,158 in the prior year. The company has not recognized any revenue to date and continues to face uncertainties regarding its ability to sustain operations without additional financing. Altair's cash balance increased to $7,211 from $4,298, aided by a $26,400 advance from a related party. Management highlighted ongoing efforts to close a merger with Premier Air Charter, which could impact future operations. However, concerns remain regarding the company's ability to operate as a going concern due to accumulated deficits and reliance on external financing. The report indicates a need for continued monitoring of financial health and operational viability.