Wed, May 15, 1:43 PM (269 days ago)
SecureTech Innovations, Inc. reported a challenging Q1 2024, with revenues of $12,885, down 35.7% from $20,050 in Q1 2023. The gross profit margin improved slightly to 76.1% from 73.6%. Operating expenses decreased by 30.2% to $90,496, leading to a reduced operating loss of $80,691, down from $114,841. Net loss also improved to $81,481 from $113,959. Cash flow from operations was negative at $4,865, reflecting tight liquidity with cash reserves dwindling to $1,122. The company faces substantial doubt about its ability to continue as a going concern, with a working capital deficit of $233,593. Efforts to secure additional funding are ongoing, including a planned Regulation A+ offering. The report highlights the need for significant financial improvements to sustain operations.