Wed, Dec 11, 4:24 PM (68 days ago)
Kashin, Inc. (KASH) reported its quarterly financial results for the period ending October 31, 2024, revealing ongoing financial challenges. The company generated no revenue for the quarter and recorded a net loss of $1,433, compared to a net loss of $8,574 in the same quarter of the prior year. For the six months ended October 31, 2024, total expenses reached $129,817, significantly up from $39,604 in the prior year, primarily due to professional fees. As of October 31, 2024, Kashin's cash reserves were critically low at $31, down from $126 in April 2024. The company has a working capital deficit of $102,564 and an accumulated deficit of $665,543, raising substantial doubt about its ability to continue as a going concern without raising additional capital. The company’s management has acknowledged the need for further financing to sustain operations. Notably, a change in control occurred in December 2024, with Starlife Ventures Inc. acquiring a majority stake, which may impact future operations. The company remains heavily reliant on funding through stock placements and loans from related parties. Overall, Kashin's financial health is precarious, necessitating urgent capital solutions to avoid insolvency.