Tue, May 28, 2:00 PM (291 days ago)
Guochun International Inc. reported its financial results for the quarter ended March 31, 2024. The company recorded no revenues and incurred an operating loss of $11,494 compared to $7,365 in the same period last year, primarily due to increased professional fees. Total assets remained at zero, while total liabilities increased to $39,521 from $28,027 at the end of 2023. The company’s accumulated deficit grew to $120,038. Cash flow from operating activities showed a net outflow of $4,490, slightly improved from $6,000 in the prior year, funded by advances from the sole officer and director. The company continues to face substantial doubt regarding its ability to continue as a going concern and is actively seeking new business opportunities. No significant changes occurred in internal controls, and the company has identified material weaknesses in its financial reporting processes.