Thu, Nov 21, 2:26 PM (12 days ago)
Certiplex Corporation (OTC: CTPX) reported a challenging third quarter for 2024, ending September 30. The company generated total revenues of $17,779, a decline from $26,752 in Q3 2023, primarily due to reduced multimedia service sales. For the nine months ended September 30, 2024, revenues were $93,824, up from $85,715 in the same period last year. However, the company faced increased costs, leading to a net loss of $43,750 compared to a loss of $19,403 in 2023. Operating expenses rose significantly, totaling $117,846, driven by professional fees and marketing costs. Cash flow from operations worsened, with a negative cash flow of $12,838 in 2024 versus a positive $3,827 in 2023. As of September 30, 2024, Certiplex held $10,033 in cash, down from $22,871 at year-end 2023. The company has an accumulated deficit of $358,685, raising concerns about its ability to continue as a going concern without securing additional capital. Future operations may be impacted by the need for equity or debt financing, as there are currently no arrangements in place. Overall, Certiplex's financial health reflects significant uncertainties and operational challenges moving forward.