Wed, Sep 11, 12:08 PM (101 days ago)
For the quarter ended July 31, 2024, Eventiko Inc. reported no revenue, maintaining a consistent trend since inception. The company incurred operating expenses of $12,694, significantly higher than $750 from the same quarter in 2023, primarily due to general and administrative costs. The net loss increased to $12,694 from $750 year-over-year, reflecting ongoing financial challenges. As of July 31, 2024, total assets remained at $0, with current liabilities at $12,694, slightly reduced from $14,260 in April 2024. The company’s accumulated deficit grew to $69,589, indicating a lack of revenue generation and reliance on director loans for operational funding. Cash flow analysis shows a net cash usage of $(12,694) from operating activities, consistent with the absence of revenue. Financing activities included $12,694 from related party loans, supporting liquidity needs. The company has no formal plans for future financing, raising concerns about its ability to sustain operations without additional capital. Management expresses substantial doubt regarding the company's ability to continue as a going concern, emphasizing the need for further investment to stabilize operations. The impact of ongoing uncertainties, including potential effects from COVID-19, poses additional risks to future operations.