Wed, May 15, 8:46 PM (220 days ago)
Coyni, Inc. reported a net loss of $29,526 for Q1 2024, a significant improvement from the $276,226 loss in Q1 2023. This reduction was mainly due to decreased stock-based compensation and professional fees. The company had no revenue in either quarter and remains a shell company with no operations. Current liabilities increased to $187,624 from $158,848, leading to a stockholders' deficit of $186,363. Cash flow remains a concern as the company had no cash activities during the quarter. The company continues to seek investment opportunities and may require additional financing to sustain operations. Legal proceedings involving the company's majority shareholder and a former executive could impact future operations. The company’s ability to continue as a going concern is uncertain, relying heavily on additional funding and achieving profitable operations.