Mon, Dec 16, 11:21 AM (28 days ago)
For the quarter ending October 31, 2024, Guru App Factory Corp. (GURU) reported revenues of $4,500, significantly down from $15,000 in the same period last year. Operating expenses decreased to $8,056 from $16,815, mainly due to reduced development costs. The net loss widened to $3,556 compared to $1,815 in Q4 2023, reflecting ongoing operational challenges. Total assets rose to $90,217 from $68,190, driven by an increase in cash and contract assets. However, total liabilities surged to $51,386 from $25,803, impacting stockholders’ equity, which fell to $38,831 from $42,387. Cash flow from operations improved to $2,326, contrasting with $185 in Q4 2023, indicating better management of cash resources despite the losses. The company expresses substantial doubt regarding its ability to continue as a going concern, highlighting the need for additional capital to sustain operations. Management plans to seek funding through equity or debt financing. Current financial trends indicate a need for strategic adjustments to enhance revenue generation and stabilize financial health.