Mon, Sep 16, 7:37 PM (96 days ago)
In Q2 2024, Glidelogic Corp reported revenues of $1,388, a significant decline from $30,000 in Q2 2023, primarily driven by reduced operational activity. The company incurred operating expenses of $20,132, leading to a net loss of $18,745 for the six months ending July 31, 2024, compared to a profit of $3,108 during the same period in 2023. Current liabilities surged to $32,721 from $14,782, while total assets decreased to $4,142 from $4,948, indicating deteriorating financial health. Cash flow from operations was negative at $25,351, contrasting with a positive inflow of $6,776 in the prior year. Financing activities provided $26,171, primarily through related party loans, highlighting reliance on external funding. The company expressed substantial doubts about its ability to continue as a going concern without additional capital. Future operations are uncertain, with a focus on AI, FinTech, and blockchain sectors, but profitability remains elusive. Overall, Glidelogic's financial position reflects significant challenges, requiring strategic adjustments to stabilize and enhance revenue generation.