Mon, Sep 16, 3:25 PM (96 days ago)
Kheoba Corp's Q3 2024 report shows significant growth in revenue but also escalating losses. For the three months ended July 31, 2024, revenue reached $21,815, a substantial increase from $6,600 in the same period last year. However, the company incurred a net loss of $19,350, compared to a loss of $2,498 in Q3 2023, driven by increased operating expenses of $31,165, primarily due to professional fees. Over the nine months ending July 31, 2024, total revenue was $32,115, up from $16,000 in the prior year, yet the net loss deepened to $26,513 from a profit of $5,898 in 2023. The company's cash position decreased, with cash on hand of $10,839 compared to $16,778 at the previous quarter-end. Current liabilities surged to $29,370, raising concerns about liquidity. Kheoba's accumulated deficit reached $35,925, prompting management to highlight the need for future capital raises to support operations. The company is focused on expanding its software and travel offerings, but uncertainties regarding funding and operational viability remain.