Wed, May 15, 4:08 PM (72 days ago)
Ezagoo Limited's Q1 2024 report shows a decrease in revenue to $43.5K from $76.2K in Q1 2023, primarily due to lower commission income. The company reported a net loss of $94.7K, an improvement from the $251.8K loss in the same period the previous year, attributed to controlled operating expenses. Operating expenses decreased significantly, with general and administrative expenses dropping to $101.8K from $215.5K. Cash flow from operations improved, with net cash used decreasing to $148.4K from $285.7K, though cash provided by financing activities also decreased to $132.1K from $293.8K. The company faces going concern uncertainties due to a working capital deficit of $3.2M and an accumulated deficit of $4.8M, relying on shareholder support and external financing. The report highlights the company's dependence on related party transactions and notes no significant changes in internal controls or off-balance sheet arrangements.