Fri, Oct 11, 12:11 PM (271 days ago)
Londax Corp. (ticker: LNDX), in its Q1 2024 10-Q filing, reported significant growth in revenue, reaching $25,708, up from $10,600 in Q1 2023. The company achieved a net income of $10,297, compared to $2,702 in the prior year, indicating improved profitability. Operating expenses totaled $15,411, reflecting an increase primarily due to higher professional fees. Cash and equivalents stood at $1,959, a slight increase from $1,664 at the previous quarter's end, while total assets decreased to $53,410 from $57,625, largely due to the capitalization of software development costs. Londax's cash flow from operations was negative at $43,635, contrasting with $2,787 in the same quarter last year, highlighting increased operational expenditures. The company has a related party loan of $4,260, which raises concerns about liquidity and ongoing operations. Management aims to raise additional funds through offerings to support growth and operational needs. Overall, while revenue trends are positive, uncertainties regarding cash flow and reliance on external financing remain critical for future operations.