Wed, Nov 13, 5:35 PM (65 days ago)
Photozou Holdings, Inc. (PHOT) reported significant financial changes for Q3 2024, ending August 31, with total revenues of $55,445, a substantial increase from $11,837 in Q3 2023, driven primarily by a surge in service revenue. The company’s total revenues for the nine months reached $138,735, compared to $54,383 in the prior year. However, the net loss for Q3 narrowed to $44,647 from $69,140 a year earlier, while the nine-month net loss rose to $263,855 from $181,670, primarily due to increased operating expenses. Total assets surged to $331,426 from $156,413, mainly due to an increase in prepaid and other current assets. Notably, current liabilities jumped significantly to $1,038,948, influenced by short-term loans and obligations to related parties. Cash flow from operations remained negative at $(235,150) but improved compared to the previous year. The company faces uncertainties regarding its ability to sustain operations due to recurring losses and reliance on related party financing. Future operations may be impacted by the need to secure additional revenue-generating contracts and financing solutions. The ongoing financial health remains precarious, with substantial doubt raised about its ability to continue as a going concern.