Tue, Jan 14, 11:04 AM (34 days ago)
Anvi Global Holdings, Inc. (ticker: AGH) reported its financial results for the quarter ended November 30, 2024, revealing ongoing financial challenges. The company experienced a net loss of $46,361 for Q3 2024, slightly higher than the $45,832 loss in Q3 2023. Year-to-date losses totaled $152,470, compared to $137,824 for the same period last year. Operating expenses remained stable, with general and administrative costs rising marginally to $46,361 for the quarter. Total assets increased to $27,801,000, primarily due to a rise in cash and prepaid expenses. However, total liabilities also grew, leading to a stockholders' deficit of $2,112,702, up from $1,960,232. The company's cash flow from operating activities showed improvement, with a net cash outflow of $45,653 compared to $64,347 in the prior year. Anvi Global's future remains uncertain as it has no current revenue and relies heavily on capital raised from its CEO. The company aims to diversify its portfolio across various sectors but has yet to make any acquisitions. Management has identified material weaknesses in internal controls, which they plan to address pending additional financing. Overall, Anvi Global Holdings faces significant operational and financial hurdles moving forward.