Thu, Mar 6, 6:56 PM (52 days ago)
BestGofer Inc. (OTC: BGFR) reported no revenue for the years ending November 30, 2024, and 2023, reflecting its ongoing development phase in the consumer delivery industry. Operating expenses decreased to $27,562 in 2024 from $43,792 in 2023, primarily due to reduced professional fees. The net loss narrowed to $27,562 in 2024 compared to $43,792 in the prior year. As of November 30, 2024, the company had total assets of $12,500 and liabilities of $111,047, leading to an accumulated deficit of $179,653. The company’s business model focuses on a smartphone app for delivery services, targeting both individual consumers and businesses, with plans for future growth dependent on successful funding and operational execution. BestGofer's strategic outlook is challenged by its current inability to generate revenue, reliance on related-party funding, and a substantial risk of not meeting cash flow requirements. The company has not established a public market for its shares and has no equity compensation plans in place. Management emphasizes the need for additional capital to support operations and app development, indicating a critical need for future financing to sustain its business model.