Wed, May 15, 8:39 PM (305 days ago)
BrooqLy, Inc.'s Q1 2024 financial report reveals a challenging quarter with a net loss of $95,656, a slight improvement from the $134,836 loss in Q1 2023. Revenue remains minimal at $29, up from $1 the previous year. Operating expenses decreased to $90,935 from $134,838, primarily due to lower advertising and marketing costs. The company's liquidity is strained with a working capital deficit of $315,106 as of March 31, 2024, and cash reserves of $1,012. Financing activities provided $80,000 from a promissory note, while investing activities used $58,000. The company continues to rely on external funding to sustain operations, with substantial doubt about its ability to continue as a going concern. Future plans include platform development and international expansion, but achieving profitability remains uncertain.