Mon, Dec 2, 1:48 PM (44 days ago)
Birdie Win Corporation (Ticker: BWIC) reported its quarterly results for the period ended October 31, 2024. The company generated revenue of $10,000, a significant increase from $5,000 in the same period last year, primarily from providing Personal Financial Literacy Seminars. Operating expenses decreased to $10,083 from $16,993, leading to a net loss of $83, substantially improved from a loss of $11,993 in Q4 2023. As of October 31, 2024, total assets were $10,086, down from $12,894 at the end of the previous quarter, largely due to a decline in cash and prepaid expenses. The company reported a working capital deficit of $407 and an accumulated deficit of $57,979, raising concerns about its ability to continue as a going concern. Cash flow from operations was positive at $83, indicating slight operational improvement. Management highlighted the reliance on a single customer for 100% of revenue, posing a concentration risk. The company continues to seek financing options to support future operations. Overall, while revenue growth is a positive trend, significant uncertainties remain regarding sustainability and profitability.