Fri, Jul 12, 1:06 PM (57 days ago)
Photozou Holdings, Inc. reported an increase in total revenues for Q2 2024 to $45,859 from $19,814 in Q2 2023, primarily driven by service revenue growth. However, the company remains in a challenging financial position with a net loss of $72,863 for Q2 2024, slightly higher than the $69,071 loss in Q2 2023. For the six months ended May 31, 2024, total revenues were $83,290, up from $42,546 in the same period in 2023, but net losses widened to $219,208 from $112,530. The company faces substantial doubt about its ability to continue as a going concern due to recurring losses and negative cash flows. Total assets decreased to $125,445 from $156,413, largely due to a reduction in inventory. The company is reliant on related party transactions for financing, with significant borrowings from entities controlled by the CEO.