Wed, Nov 13, 8:55 PM (23 days ago)
Miami Breeze Car Care Inc. (ticker: N/A) reported a net loss of $111,063 for Q3 2024, a slight increase from $110,087 in Q3 2023. For the nine months ending September 30, 2024, the company incurred a net loss of $334,979, down 48% from $644,067 in the same period last year. Revenues plummeted by 59% year-over-year to $1,945 for Q3 2024, totaling $5,897 for the nine months, primarily due to reduced marketing efforts. Cash reserves dwindled to $3,348 from $74,889 at year-end 2023, leading to a negative working capital of $52,941. Operating expenses decreased 48% to $337,707 for the nine months as the company cut costs, including eliminating compensation expenses. The company faces significant liquidity challenges, projecting $740,000 in expenses over the next year, while current cash resources are insufficient to sustain operations. Management emphasizes the need for additional financing to continue operations, with ongoing uncertainties regarding market acceptance and operational viability. The financial statements raise substantial doubt about the company's ability to continue as a going concern.