Mon, Jul 1, 10:26 AM (68 days ago)
Caro Holdings, Inc.'s Form 10-K for the fiscal year ended March 31, 2024, highlights several key financial metrics and strategic initiatives. The company reported minimal revenue of $577 for FY 2024, an increase from $0 in FY 2023. Operating expenses rose by 24% to $309,404, resulting in a net loss of $539,041, up 51% from the previous year. The company's working capital deficiency increased to $713,319 due to higher convertible notes and accrued liabilities. Strategically, Caro Holdings is transitioning from a subscription box business to deploying B2B, B2C, and D2C systems targeting small to mid-size brands. Notable transactions include a software license agreement with Noise Comms Ltd. and a pending acquisition of a marketplace provider in the spirits industry. The company faces significant risks, including its going concern status due to sustained losses and limited cash reserves. Future performance hinges on securing additional funding and successful execution of its business plan. The financial condition remains precarious with substantial liabilities and minimal assets.