Tue, May 14, 6:43 PM (73 days ago)
Miami Breeze Car Care Inc. reported a net loss of $127,417 for Q1 2024, a significant improvement from the $356,830 loss in Q1 2023. Revenue decreased by 70.3% to $1,703, primarily due to reduced marketing efforts. Operating expenses dropped by 64.6% to $127,493, driven by lower professional fees and compensation costs. Cash flow from operations showed a net outflow of $81,969, slightly better than the $90,273 outflow in the same period last year. The company's working capital decreased to $154,621 from $176,038 at year-end 2023. Management highlighted ongoing concerns about the company's ability to continue as a going concern without additional financing. Future plans include aggressive marketing and product development, but current cash resources are insufficient to meet projected expenses of $740,000 over the next 12 months.