Thu, Jul 11, 10:14 AM (58 days ago)
BlueOne Card, Inc., a Nevada corporation, filed its annual report on Form 10-K for the fiscal year ended March 31, 2024. Key financial highlights include: **Revenue and Financial Performance:** - Revenue: $4,000, a significant decrease from $25,000 in the prior year. - Net Loss: Increased to $1,613,140 from $1,118,799. - Operating Expenses: $1,553,729, up from $1,098,486, driven by increased marketing, rent, and research and development costs. - Gross Loss: ($70,500), compared to ($15,385) in the previous year. **Balance Sheet:** - Working Capital Deficit: $624,037. - Total Assets: $986,032, relatively stable compared to $991,246 in the prior year. - Accumulated Deficit: $3,871,752, reflecting ongoing losses. **Strategic Overview:** - Shifted to a new program manager, Expanse Financial Technologies, Inc., following termination with EndlessOne Global, Inc. - Focus on unbanked and underbanked customers, targeting international money transfers. **Future Outlook:** - Plans to raise additional capital through equity and debt financing. - Continued development of internal-use software and expansion of product offerings. **Risk Factors:** - Substantial doubt about the company’s ability to continue as a going concern. - Dependence on the new program manager and potential challenges in securing additional financing. **Market Position Changes:** - No significant changes in market position were noted. This summary highlights the company's financial performance, strategic shifts, and future outlook, relevant for portfolio managers, traders, and finance professionals.