Wed, Jul 3, 10:02 AM (66 days ago)
GSG Group Inc. reported no revenue for Q1 2024, consistent with Q1 2023. Operating expenses slightly decreased to $3.1K from $3.3K, resulting in a net loss of $3.1K, marginally less than the $3.3K loss in the prior year. The company’s financial position remains precarious with total assets of $200 and liabilities of $134.2K, leading to a stockholders' deficit of $134.0K. Cash flow from operations was negative at $6.3K, financed by related party borrowings of the same amount. The company’s ongoing viability is uncertain, reliant on related party funding. A strategic pivot to physiotherapy services in China is anticipated to generate future revenue, but substantial doubt remains about its ability to continue as a going concern.