Tue, Nov 12, 7:54 PM (66 days ago)
Caro Holdings Inc. (CROH) reported significant financial developments for the quarter ended September 30, 2024. The company generated $5,626 in revenue, a notable increase from $0 in the previous year, reflecting initial traction in its e-commerce platform. Operating expenses decreased by 30% to $46,125, primarily due to reduced costs in software development and audit fees. Consequently, the net loss improved to $68,155 from $181,386, indicating a 62% reduction year-over-year. The total current assets rose to $245,062, driven by cash and receivables, while current liabilities increased to $1,039,329, leading to a working capital deficiency of $794,267. The company continues to face liquidity challenges, necessitating additional capital to sustain operations. Cash flows from financing activities yielded $74,500, primarily from convertible notes. Caro Holdings is actively pursuing growth opportunities in the digital space, particularly targeting small to mid-sized brands. However, the company’s accumulated deficit reached $1,217,534, raising substantial doubt about its ability to continue as a going concern without further financing. The management remains focused on raising capital and enhancing operational efficiency to navigate these uncertainties.