Tue, Jun 11, 6:38 PM (88 days ago)
Kheoba Corp., a development stage company in the software and travel industry, reported its financial results for the quarter ended April 30, 2024. The company generated $10,300 in revenue for the six months ended April 30, 2024, primarily from CRM software and tourism programs, compared to $9,400 for the same period in 2023. Operating expenses increased significantly to $17,463 from $1,004, resulting in a net loss of $7,163 for the six months, compared to a net income of $8,396 in the prior year. Cash on hand decreased to $1,385 from $16,778 as of October 31, 2023, due to higher operating expenses and investments in software development. The company issued additional common stock, raising $15,940. Despite the revenue increase, the company faces substantial doubt about its ability to continue as a going concern due to its accumulated deficit and limited cash reserves. Management plans to raise additional funds through private or public offerings to support operations and further development.