Tue, Jul 16, 9:21 PM (53 days ago)
LSEB Creative Corp., a Wyoming-based luxury swimwear retailer, reported a net loss of $163,553 for the fiscal year ending March 31, 2024, with an accumulated deficit of $554,534. Despite launching its e-commerce platform in October 2023 and generating $3,989 in sales, the company faces substantial doubt about its ability to continue as a going concern, primarily due to its limited operating history and ongoing need for additional financing. Operating expenses increased to $164,424, up from $139,443 in the previous year, driven by higher advertising, promotion, and travel costs. The company aims to raise a minimum of $400,000 to support its growth strategy, which includes expanding its product offerings and establishing wholesale partnerships. LSEB plans to leverage its luxury brand positioning and innovative designs to capture market share in the growing swimwear industry. However, the company remains dependent on securing adequate financing to meet its operational and strategic goals.