Tue, Jun 11, 10:17 AM (88 days ago)
Global Leaders Corp. reported a net loss of $29,990 for the six months ended April 30, 2024, a significant improvement from the $330,705 loss in the same period in 2023. Revenues for the six months were $12,790, compared to no revenue in the prior year. Operating expenses decreased substantially to $42,780 from $330,705, with notable reductions in general and administrative expenses, particularly those related to affiliated parties. The company’s cash balance increased to $59,150 from $1,874, primarily due to $97,101 in advances from the principal shareholder. However, the company’s stockholders’ deficit widened to $58,893 from $28,903, primarily due to accumulated deficits. Management has expressed concerns about the company's ability to continue as a going concern, citing the need for additional financing and ongoing support from officers and shareholders. The company plans to expand its consultancy services and ESG programs but faces uncertainties related to market conditions and operational scalability.