Mon, Jun 24, 2:07 PM (75 days ago)
KB Global Holdings Limited's Q1 2024 financial report highlights significant improvements compared to Q1 2023. The company reported revenue of $176,564, attributed to a single customer for software development services, resulting in a gross profit of $26,874. This contrasts with no revenue in Q1 2023. Operating expenses decreased substantially from $23,844 in Q1 2023 to $5,355 in Q1 2024, leading to a net profit of $30,253 compared to a net loss of $23,843 in the previous year. Cash flow from operations was negative at $82,879, largely due to changes in working capital, but financing activities provided $55,261. The company's cash position decreased from $28,880 to $1,199. No significant changes in internal controls were reported. The company continues to focus on enhancing IT infrastructure and expanding its client base.