Thu, Jun 20, 7:39 PM (79 days ago)
Himalaya Technologies, Inc. reported no revenues for the quarter ended April 30, 2024. Operating expenses increased significantly to $323,623 from $70,710 in the previous year, primarily due to higher stock-based compensation and research and development costs. The company recorded a net loss of $483,314 for the quarter, compared to a net income of $195,942 in the same period last year, driven by increased derivative and interest expenses. The balance sheet shows a marked decrease in liabilities, from $1,161,606 to $821,061, but the company's stockholders' deficit improved from $1,125,631 to $732,303. Cash flow from operating activities was negative at $68,466, while financing activities provided $68,242. The company faces substantial doubt about its ability to continue as a going concern without additional capital infusion. Future operations will focus on developing the "Goccha!" social site, launching a FOMO healthy energy drink, and other Web3 initiatives.