Thu, Nov 14, 7:59 PM (19 days ago)
For the quarter ending September 30, 2024, Altair International Corp. (ATAO) reported a net loss of $39,148, a slight improvement from a loss of $40,074 in the same period of 2023. The company continues to struggle with revenue generation, reporting no revenue for the quarter. Operating expenses decreased to $36,150 from $52,457, primarily due to reduced general and administrative costs. Cash flow from operations showed an outflow of $56,437, down from $75,867 in the previous year. As of September 30, 2024, Altair's total assets were $461,000, significantly lower than $10,798,000 in March 2024, with current liabilities rising to $230,086, up from $193,428. The accumulated deficit increased to $17,597,901, raising concerns about the company's ability to continue as a going concern without additional financing. The company is pursuing a merger with Premier Air Charter, which may impact future operations. Despite ongoing development in lithium technologies and battery solutions, uncertainties remain regarding funding and operational viability. Overall, the quarterly performance reflects a challenging financial landscape with ongoing losses and liquidity concerns.