Mon, Dec 9, 10:15 PM (70 days ago)
For the quarter ended October 31, 2024, Goliath Film and Media Holdings (GFMH) reported revenues of $32,726, a significant increase from zero revenue in the same period last year. The company experienced a net loss of $2,033 compared to a larger loss of $21,581 in Q3 2023, indicating improved operational performance. Operating expenses rose by 127.8% to $24,518, driven primarily by professional fees and consulting services. Total assets increased to $1,719, up from $437 in April 2024, while total liabilities rose to $104,354, reflecting ongoing reliance on related party financing. Cash flow from operating activities showed an improvement, with a net cash used of $6,913, down from $15,632 in the prior year. Despite the positive revenue trend, the company faces uncertainties regarding its ability to sustain operations due to historical losses totaling $1,074,633 and reliance on related party loans for working capital. Goliath plans to focus on securing further financing and developing additional film projects to enhance revenue generation. The outlook remains cautious as the company continues to navigate its financial challenges.