Thu, Nov 21, 2:05 PM (12 days ago)
**Rapid Line Inc. (Ticker: N/A) - Q3 2024 Summary** For the quarter ending October 31, 2024, Rapid Line Inc. reported no revenues, maintaining a net loss of $2,806 compared to a loss of $4,462 for the same period in 2023. Year-to-date losses totaled $24,682, down from $39,474 in the prior year, indicating a slight improvement in operational efficiency despite ongoing challenges. Operating expenses decreased significantly, primarily due to reduced general and administrative costs. As of the reporting date, total assets stood at $30,474, with current liabilities of $11,455 and long-term liabilities totaling $83,964, largely driven by loans from directors and promissory notes. The company’s accumulated deficit has increased to $87,850, raising concerns about its ability to continue as a going concern without additional financing. Cash flow from operating activities was negative at $30,829, although financing activities provided $26,395, primarily from related party loans. The company is exploring additional capital through equity offerings to support operations and growth. Management acknowledges uncertainties related to future revenue generation and the potential impact of economic conditions, including COVID-19, on its business prospects.