Mon, Sep 16, 4:32 PM (95 days ago)
For the quarter ended July 31, 2024, Goliath Film and Media Holdings reported no revenue, consistent with the previous year. The company incurred a net loss of $10,241, slightly lower than the $10,817 loss reported in Q3 2023. Operating expenses decreased to $10,241 from $10,817, primarily due to reduced professional and consulting fees. Total assets fell to $304 from $437, while liabilities increased to $111,147 from $101,039, driven largely by higher accounts payable to related parties. Cash flow analysis shows a $133 decrease in cash, with net cash used in operations at $2,133, offset by $2,000 from financing activities. The company continues to rely on advances from related parties for funding, highlighting liquidity concerns. Goliath's accumulated deficit rose to $1,082,841, raising substantial doubt about its ability to continue as a going concern without additional capital. Overall, Goliath remains in a precarious financial position, with no significant operational changes or revenue generation, and plans to seek further financing to sustain operations.