Thu, Nov 21, 6:38 PM (55 days ago)
For the quarter ending September 30, 2024, Nova Star Innovations, Inc. (ticker: N/A) reported no revenue, continuing a trend of no operational income since inception. The company incurred a net loss of $10,770 for Q3 2024, up from $8,419 in Q3 2023, contributing to a total nine-month loss of $36,615 compared to $27,725 in the prior year. General and administrative expenses increased to $4,848 in Q3 2024 from $2,900 in Q3 2023, reflecting rising operational costs. As of September 30, 2024, total liabilities rose to $503,997 from $481,731 at year-end 2023, largely due to increased accounts payable and accrued interest. Cash reserves significantly decreased to $2,916 from $17,265 at the start of the year, highlighting liquidity concerns. The company has no current revenue-generating operations and is reliant on financing from related parties to sustain operations, raising substantial doubt about its ability to continue as a going concern. Future strategies include potential mergers or acquisitions to establish revenue streams.