Thu, Sep 5, 5:03 PM (131 days ago)
For the quarter ended March 31, 2024, Global Innovative Platforms, Inc. reported no revenue and incurred a net loss of $3,887, a significant decrease from a loss of $68,870 in the same quarter of the previous year. Total current assets increased slightly to $596,000, while total liabilities were $200,997, indicating ongoing financial strain. General and administrative expenses were notably reduced to $3,887 from $68,870, reflecting cost-cutting measures. The company continues to face substantial uncertainties regarding its ability to operate as a going concern, primarily due to its lack of revenue-generating activities and reliance on future financing. The significant increase in common stock outstanding to 27,310,112 shares suggests efforts to raise capital, though the company lacks committed funding sources. Cash flow analysis shows a net cash used in operating activities of $27,225. The firm’s future operations hinge on securing additional equity or debt financing, which remains uncertain. Overall, the financial health of Global Innovative Platforms is precarious, with continued losses and reliance on external funding to sustain operations.