Fri, Jul 26, 4:18 PM (43 days ago)
iWallet Corporation's Form 10-K/A for the fiscal year ended December 31, 2023, amends the original report to include the audit report of Pinnacle Accountancy Group of Utah for 2022, update management's conclusion on disclosure controls, and amend the cover page. Financial highlights include zero revenue for 2023, a significant increase in operating expenses to $225,457 mainly due to $200,000 in stock-based compensation, and a net loss of $267,852. The company's financial condition shows negative working capital of $513,904 and minimal cash reserves. Strategic efforts focus on redesigning products with updated technology, including facial recognition and GPS tracking. Risk factors include ongoing losses and negative cash flows. The company is dependent on raising additional capital to sustain operations.