Thu, Nov 21, 6:38 PM (12 days ago)
For the quarter ending September 30, 2024, Prestige Capital Corporation (Ticker: None, as it has no registered securities) reported no revenues, continuing a trend of no operational income since its reactivation in 2006. The company experienced a net loss of $9,692 for Q3 2024, compared to a loss of $7,351 in Q3 2023, contributing to a total loss of $33,381 for the nine-month period, up from $24,499 in the prior year. Operating expenses rose significantly to $4,848 for the quarter and $18,849 year-to-date, primarily due to increased general and administrative costs. Cash reserves dwindled to $2,824 from $17,173 at year-end 2023, while total liabilities increased to $365,409, reflecting rising related-party debts. The company remains dependent on financing from related parties and has not secured commitments for future funding, raising substantial doubt about its ability to continue as a going concern. Management plans to pursue potential mergers or acquisitions to generate revenue but has not finalized any agreements. Overall, the financial health remains precarious, with ongoing losses and no clear path to profitability.