10-Q - MOVEIX INC. (0001685766) (Filer)

Fri, Aug 16, 8:06 PM (151 days ago)

For the quarter ended June 30, 2024, Moveix Inc. reported no revenue, consistent with the previous year, indicating ongoing operational challenges. The company incurred a net loss of $13,529, increasing from $8,879 year-over-year, contributing to an accumulated deficit of $472,439. Total liabilities rose to $159,991, primarily due to related party loans, reflecting a reliance on external financing to sustain operations. Cash flow from operating activities showed a net outflow of $51,025, with no cash reserves reported at the end of the quarter. The company lacks sufficient working capital to fund operations for the next 12 months, raising substantial doubt about its ability to continue as a going concern. Management is exploring alternative financing options and potential business combinations but faces significant uncertainties due to market conditions and limited operational history. The report highlights the company's ongoing need for capital and the risks associated with its business strategy, including potential dilution from future equity issuances. Overall, the financial health remains precarious, with urgent action required to stabilize operations and pursue growth opportunities.