Mon, Mar 3, 9:23 PM (54 days ago)
AMJ Global Technology (AMJT) reported a revenue increase to $39,000 for the year ended November 30, 2024, compared to no revenue in 2023. The operating loss rose to $183,845 from $166,065, primarily due to increased operating expenses, including stock-based compensation and management fees. The net loss decreased to $85,697 from $136,789, aided by a significant gain on debt settlement totaling $98,109. The company holds a working capital deficiency of $195,383 and has accumulated losses of $476,274, raising concerns about its ability to continue as a going concern. Strategically, AMJ focuses on developing mobile software products with applications in holistic health, particularly for athletes. The company has entered into revenue-sharing agreements and acquired technology assets to enhance its market position. However, it faces risks from reliance on related-party transactions and the necessity of securing additional funding. The financial condition remains precarious, with no cash flow from operations and reliance on advances from related parties. The company’s future outlook hinges on its ability to generate sustainable revenue and secure financing while navigating internal control weaknesses.