Fri, Nov 15, 4:06 PM (28 days ago)
Apex 11 Inc. (APEX) reported no revenue for the third quarter ending September 30, 2024, consistent with the previous year. Operating expenses slightly decreased to $13,880 from $13,955 year-over-year, reflecting reduced filing costs. The net loss for the quarter totaled $13,880, with a cumulative loss of $25,475 for the nine months. As of September 30, 2024, the company has a working capital deficit of $257,874 and total liabilities of $25,835, primarily due to a payable of $19,895 to a controlling stockholder. The company has not established a sustainable revenue source and relies on stockholder funding to continue operations, raising concerns about its ability to remain a going concern. The financial statements indicate a lack of cash flow from operations, investing, or financing activities. The company’s future operations depend on securing additional capital, which is uncertain. Management emphasizes risks related to market acceptance and the need for effective operational strategies. Overall, Apex 11 Inc. remains in a precarious financial position with significant uncertainties ahead.