Tue, May 14, 6:55 PM (183 days ago)
Protopia Global Holdings Inc.'s Form 10-Q for the quarter ended March 31, 2024, reports a net loss of $15,244 for the three months and $49,375 for the nine months ended March 31, 2024. The company had no revenue during these periods, compared to $10,024 in revenue for the same periods in 2023. General and administrative expenses increased significantly, driven by higher legal and audit fees. Cash decreased to $9,953 from $17,998 as of June 30, 2023, primarily due to operating expenses. The company relies on related party funding for liquidity and has expressed substantial doubt about its ability to continue as a going concern without additional capital. No significant changes in internal controls were noted, and no legal proceedings or unregistered sales of equity securities were reported. The company is planning a public offering of 1,000,000 shares to raise additional funds.