Tue, Jan 21, 2:49 PM (21 days ago)
For the quarter ended November 30, 2024, The Marquie Group, Inc. (ticker: TMGI) reported no revenues, maintaining a trend of zero net revenues for both the three and six months compared to the previous year. The company incurred operating expenses of $64,714, down from $166,765 in the prior year, primarily due to reduced professional fees. The net loss for the quarter was $155,374, exacerbating the accumulated deficit to $15,223,804. Current liabilities increased to $6,391,076, primarily driven by accrued interest and consulting fees, while cash reserves stood at $243. The company faces significant liquidity challenges, raising doubts about its ability to continue operations without additional financing. The management is exploring equity financing options to mitigate these issues. The company has not generated cash flow from operations and is heavily reliant on debt financing, leading to substantial uncertainties regarding future operations. The lack of revenue generation and ongoing losses highlight the need for strategic changes to improve financial health moving forward.