Wed, Nov 13, 3:13 PM (30 days ago)
DeltaSoft Corp. (ticker: DLT) reported its financial results for the quarter ending September 30, 2024, showcasing a significant operational shift with revenue of $7,330,000, compared to none in the prior year. The company's cost of goods sold was $1,000, yielding a gross profit of $6,330,000. Total operating expenses were $4,555,000, leading to a net income of $1,775,000 for the quarter. For the six months ending September 30, 2024, revenue totaled $27,984,000, with a net income of $11,952,000. The balance sheet reflects assets of $27,556,000, primarily due to an intangible asset valued at $27,000,000, and liabilities of $12,343,000, including a related party loan of $5,304,000. Cash flow from operating activities was negative at $19,025,000, primarily due to increased operational expenditures. The company emphasizes the need for additional capital to sustain operations and plans to raise funds through equity or debt securities. Management cautions about uncertainties regarding future revenue generation and the company's ability to continue as a going concern without securing further investment.