Thu, Nov 21, 6:40 PM (88 days ago)
C & C Tours, Inc. (ticker: CCTI) reported no revenues for the quarter ending September 30, 2024, continuing a trend of operational losses. The company recorded a net loss of $9,733,000 for Q3 2024, up from $7,242,000 in Q3 2023. For the nine months ended September 30, 2024, the net loss totaled $33,420,000, compared to $24,394,000 for the same period in 2023. Cash decreased significantly to $2,834,000 from $17,225,000 at year-end 2023, amid rising liabilities, which increased to $387,196,000 from $368,167,000. The company’s total stockholders' deficit also widened to $384,362,000. C & C Tours remains reliant on external financing, with no established revenue-generating activities, raising substantial doubt about its ability to continue as a going concern. The management plans to seek potential mergers to enhance profitability but has not engaged in discussions with any entities yet. The lack of diversification in operations poses a significant risk for investors. Overall, the financial health of C & C Tours indicates severe operational challenges and uncertainties regarding future viability.