10-Q - HNO International, Inc. (0001342916) (Filer)

Thu, Jun 27, 1:44 PM (116 days ago)

HNO International, Inc. reported a significant increase in operating expenses for the quarter ended April 30, 2024, compared to the same period in 2023, leading to a higher net loss. Despite no revenue generation, the company expanded its staff and increased contract labor to support its R&D and sales efforts. The company’s cash balance decreased substantially from October 31, 2023, to April 30, 2024, and it faces a working capital deficit. Financing activities provided a net cash inflow due to related party advances and stock sales. The company’s financial condition raises substantial doubt about its ability to continue as a going concern, necessitating additional capital to support operations. The company’s future operations and financial health are contingent on securing further financing and increasing revenue streams.