Mon, Jul 1, 6:24 PM (68 days ago)
New Asia Holdings, Inc. reported a net loss of $40,136 for Q1 2024, an improvement from the $57,150 loss in Q1 2023. Operating expenses decreased to $40,136 from $57,150, driven by lower general and administrative costs. Cash flow from operations was negative, with a slight improvement in cash on hand due to shareholder advances. The company has no revenue and relies on advances from its principal shareholder, Lin Kok Peng, totaling $1,052,704 as of March 31, 2024. The company dissolved its subsidiary Magdallen Quant Pte Ltd in February 2023 and is exploring new business opportunities, including a potential merger with Olenox Corp. The company continues to face substantial doubt about its ability to continue as a going concern.