Fri, Jun 14, 9:13 PM (85 days ago)
Guru App Factory Corp. reported its financial results for the quarter ended April 30, 2024. The company generated $53,000 in revenue for the three-month period, totaling $78,000 for the nine months ended April 30, 2024. Operating expenses for the three-month period were $69,223, leading to a net loss of $16,223. For the nine-month period, operating expenses were $97,425, resulting in a net loss of $19,425. As of April 30, 2024, total assets increased to $70,737 from $4,064 on July 31, 2023, while total liabilities rose to $24,803 from $825. Stockholders' equity improved to $45,934 from $3,239. Cash flows from operating activities used $20,360, investing activities used $15,978, and financing activities provided $62,598, resulting in an ending cash balance of $30,324. The company faces substantial doubt about its ability to continue as a going concern and plans to seek additional capital through equity or debt financing to support its operations. No significant changes were reported in internal controls over financial reporting.