Mon, Dec 16, 7:18 PM (60 days ago)
Marky Corp. (Ticker: N/A) reported its Q3 results for the period ending October 31, 2024. The company generated revenues of $16,491,000, a significant increase from $0 in the same quarter of 2023. However, for the nine months ended October 31, 2024, total revenues were $24,484,000 compared to $400, reflecting a strong upward trend in sales, primarily from software sales. Despite this growth, Marky Corp. reported a net loss of $6,375,000 for Q3 2024 and a cumulative loss of $28,785,000 for the nine-month period, worsening from a loss of $14,646,000 in the prior year. Operating expenses surged to $10,116,000 for the quarter, primarily due to increased professional fees and depreciation expenses. The company's cash position deteriorated, with cash and cash equivalents dropping to $4,600,000 from $23,630,000 at the start of the period. Total liabilities rose significantly, leading to a stockholders' deficit of $2,267,000 as of October 31, 2024. Marky Corp. faces substantial uncertainties regarding its ability to continue as a going concern, emphasizing the need for additional capital to sustain operations. The company is actively seeking investment to stabilize its revenue streams amidst a highly competitive landscape.