Tue, Jun 25, 8:28 PM (74 days ago)
Kenilworth Systems Corporation's amended 10-K/A for the fiscal year ended December 31, 2023, highlights several key financial and operational updates. The company reported a net loss of $184,288 for 2023, compared to a net loss of $13,558 in 2022, driven by higher operating expenses. Revenue for 2023 was $12,000, attributed to the acquisition of Regenecell, Inc., which now forms the core of Kenilworth's business in medical travel consulting services. The company's total current liabilities decreased significantly from $300,059,835 in 2022 to $177,068 in 2023, primarily due to the reversal of an asset sale and the cancellation of a $300,000,000 promissory note. Stockholders' equity turned negative at $(6,731) in 2023, down from $439,363 in 2022. Strategically, Kenilworth aims to expand Regenecell's operations and explore acquisitions in emerging medical and energy technologies. The company faces risks related to its limited operating history, regulatory environment, and dependency on key personnel. Management is focused on restructuring and securing additional financing to support growth initiatives.