Tue, Sep 10, 5:22 PM (32 days ago)
For the quarter ending July 31, 2024, Kashin, Inc. reported revenues of $120,000, a significant increase compared to the previous year when no revenue was generated. Expenses totaled $128,384, resulting in a net loss of $8,384, a reduction from the $31,030 loss reported for the same period in 2023. The company's accumulated deficit increased to $664,110, reflecting ongoing operational challenges. Current assets decreased to $17, while current liabilities rose to $101,238, leading to a working capital deficit of $101,220. The company remains dependent on raising additional capital to sustain operations, as indicated by a "going concern" opinion from auditors. Cash flow from operations was negative, with financing activities providing minimal support. The management emphasizes the need for further capital to execute its business plan, which involves developing a cooking tutorial platform. The financial health remains precarious, with uncertainties surrounding future operations, primarily due to insufficient revenue generation and reliance on related party transactions. The company continues to face substantial doubt regarding its ability to continue as a going concern without successful capital raises.