Tue, Nov 19, 6:31 PM (54 days ago)
For the quarter ended September 30, 2024, Kid Castle Educational Corporation (KDCE) reported zero revenue, a significant decline from $1,135,578 in the same period of 2023, primarily due to the cessation of real estate operations. Operating expenses decreased to $4,195 from $58,112 year-over-year, reflecting reduced activity. The company recorded a net income of $1,517,143, largely attributed to the sale of its subsidiary, Alpharidge Capital LLC, for $1,560,992, with payments commencing in July 2024. As of September 30, 2024, total assets decreased to $1,560,992 from $3,822,393, with stockholders' equity dropping to $1,517,143. The company holds a significant accumulated deficit of $6,121,517, raising concerns about its ability to continue as a going concern. Cash flow from operating activities was negative, and the company relies on loans from related parties for liquidity. Future operations hinge on successful fundraising and acquisitions in artificial intelligence and digital assets, though no assurances can be made regarding capital availability or operational viability.