Thu, Jun 13, 8:48 PM (86 days ago)
Multi Soft II, Inc. reported no revenue for the quarter ended April 30, 2024, similar to the same period in 2023. Operating expenses slightly increased to $8,722 from $8,294, primarily due to professional fees. The company recorded a net loss of $26,344, up from $24,667 in the prior year, driven by increased interest expenses on its revolving credit facility. Cash flow from operations was negative at $14,358, offset by $23,500 from debt issuance, resulting in a net cash increase to $12,643. The company’s total liabilities rose to $1,198,510, with a shareholder deficiency of $1,179,976. Multi Soft II remains focused on identifying a merger target to achieve long-term growth. The credit facility with Vector Group Ltd. provides up to $800,000, ensuring sufficient capital for the next 12 months. The company continues to face uncertainties around securing additional funding and achieving profitability.