Thu, Jun 13, 9:01 PM (86 days ago)
Multi Solutions II, Inc. reported a net loss of $26,697 for the quarter ended April 30, 2024, compared to a net loss of $24,713 in the same period in 2023. The company remains in a pre-revenue stage with no operating income. General and administrative expenses increased slightly to $8,933 from $8,249 year-over-year. Interest expenses also rose to $17,764 from $16,464 due to the outstanding balance on an 11% revolving credit facility with Vector Group Ltd., which was increased to $800,000 as of April 26, 2024. Despite an increase in cash to $12,342 from $2,381, the company continues to have a significant shareholders' deficiency of $1,180,299. The company's primary objective remains to achieve long-term growth through a merger or acquisition, with no immediate revenue generation expected. Management believes the available borrowing capacity will sustain operations for the next twelve months.