Tue, Sep 17, 10:01 AM (25 days ago)
This amendment to the 10-Q report for Photozou Holdings, Inc. addresses clerical errors in the previous filing, specifically the incorrect CFO signature and omissions regarding management changes. The financial highlights for Q2 2024 (ending May 31, 2024) show total revenues of $45,859, a significant increase from $19,814 in Q2 2023, driven by a surge in service revenue. However, the company reported a net loss of $72,863 for the quarter, slightly higher than the previous year's loss of $69,071, primarily due to increased operating expenses totaling $91,105. Total assets decreased to $125,445 from $156,413, largely due to reduced inventory levels. The company remains in a precarious financial position, with recurring losses and negative cash flows raising concerns about its ability to continue as a going concern. Cash on hand was $13,009, insufficient for ongoing operations without further financing, which may involve related-party transactions. Future operations may be impacted by these financial uncertainties and the need for additional capital to sustain growth and operational viability.