Fri, Nov 29, 6:23 PM (80 days ago)
BrooqLy, Inc. (BRQL) reported a significant net loss of $782,294 for the nine months ended September 30, 2024, compared to $278,622 in the same period of 2023. Revenue remained minimal, totaling $266 for the nine months, reflecting a slight increase from $3 in the previous year. Operating expenses rose to $252,210, primarily due to increased salaries, despite a decrease in marketing costs. The company faced substantial interest expenses of $154,351 attributed to convertible notes. As of September 30, 2024, BrooqLy had total current assets of $30,204 against current liabilities of $433,217, resulting in a working capital deficit of $403,014. The company’s cash flow from operating activities improved to $80,272, contrasting with a cash outflow of $129,870 in the prior year, mainly due to shares issued for loans and interest. BrooqLy's future operations are uncertain, heavily reliant on raising capital to fund operations and expand its market presence. The company has initiated plans to secure additional funding but faces risks associated with its ability to attract investors and achieve profitability. Overall, without substantial revenue growth or successful capital raising, the company's viability is in question.