Thu, Nov 14, 1:44 PM (93 days ago)
For the quarter ending September 30, 2024, Moveix Inc. (ticker: MOVEIX) reported no revenue and incurred a net loss of $13,951, compared to a loss of $8,867 in the same quarter of 2023. Year-to-date losses totaled $64,977, increasing from $42,746 in the prior year. Operating expenses rose significantly, primarily due to administrative costs related to a related party, totaling $13,951 for the quarter. The company continues to operate with substantial financial challenges, reflected in a negative working capital of $486,390 and an accumulated deficit of the same amount. Cash flow remains non-existent, with no cash on hand as of the reporting date. The company relies on loans from related parties, which increased to $173,942 from $114,465. Management has expressed concerns regarding its ability to continue operations without raising additional funds, as existing cash flows are insufficient. The ongoing lack of operational revenue and reliance on external financing pose significant uncertainties for future operations. The company is exploring potential business combinations and financing options but faces risks due to its limited capital resources and the competitive market landscape.