Wed, Nov 27, 12:10 PM (47 days ago)
**Legacy Ventures International, Inc. (LGYV) - Summary of Financial Performance** For the fiscal year ending June 30, 2024, Legacy Ventures International, Inc. reported operating expenses of $64,291, a slight increase from $61,943 in the prior year. The company recorded a net loss of $64,286, compared to a loss of $61,879 in 2023. Total assets decreased to $842 from $2,187, while liabilities rose to $137,711, resulting in a stockholders’ deficiency of $136,869. The company has no ongoing operations and primarily incurs general administrative expenses. It plans to engage in biotech and healthcare R&D through its Hong Kong subsidiary, Ever Green Living Ventures Ltd., established in December 2023. Liquidity remains a concern, with cash reserves falling to $842, raising doubts about the company’s ability to continue as a going concern without further financing. The company relies on shareholder advances, which totaled $104,525 as of June 30, 2024. The stock trades on the Pink Sheets with limited liquidity. Future funding difficulties and the potential classification as a penny stock could adversely impact trading. Overall, Legacy Ventures faces significant operational and financial challenges, necessitating strategic financing to support its planned business initiatives.