Tue, May 21, 10:03 AM (153 days ago)
Quest Water Global, Inc. reported a net loss of $332,310 for Q1 2024, a significant increase from the $142,411 loss in Q1 2023, driven primarily by $187,355 in stock-based compensation. Total expenses rose to $332,310 from $142,411, with notable increases in professional fees and stock-based compensation. The company has no cash reserves and a working capital deficiency of $1,980,400 as of March 31, 2024, with liabilities totaling $1,988,737. The company continues to rely on related party advances to fund operations. The report raises substantial doubt about the company's ability to continue as a going concern, emphasizing the need for additional financing to sustain operations. No revenue was generated in the reported period, and the company remains dependent on future financing efforts.