Wed, Jul 10, 4:06 PM (248 days ago)
Oyocar Group Inc. reported a net loss of $6,967 for Q2 2024 and $20,587 for the nine months ended May 31, 2024. Revenue for the quarter was $22,200, with a gross profit of $4,520 after $17,680 in cost of goods sold. Operating expenses totaled $11,487, primarily due to general and administrative costs. Cash flow from operations was negative $20,182, while financing activities provided $22,800, mainly from related party advances and stock issuance. The company’s total assets increased to $6,213 from $4,000 as of August 31, 2023, while liabilities rose significantly to $15,803. Oyocar faces substantial doubt about its ability to continue as a going concern due to accumulated losses and insufficient revenue to cover operating costs. The company plans to seek additional capital to support operations.