Fri, Jun 14, 10:06 AM (85 days ago)
Legacy Ventures International, Inc. reported its financial results for the quarter ended December 31, 2023. The company has no ongoing operations, only incurring general and administrative expenses. Key financials include: - Cash decreased to $842 from $1,678 as of June 30, 2023. - Total assets dropped to $1,351 from $2,187. - Liabilities rose to $91,446 from $74,770, primarily due to increased advances from a shareholder. - Stockholders' deficiency increased to $90,095 from $72,583. - Net loss for the quarter was $10,768, compared to $16,795 in the same period last year. - Cash flow from operations was negative at $42,083, offset by $41,247 in shareholder advances. The company faces substantial doubt about its ability to continue as a going concern, relying heavily on shareholder advances. Future operations are uncertain without additional financing.