Mon, Sep 30, 12:47 PM (82 days ago)
For the fiscal year ending June 30, 2024, Sino Green Land Corporation reported net revenues of $2,088,028, a significant increase of 228% from $636,482 in 2023, driven by higher sales of recycled plastic products. However, the cost of revenues also rose by 106% to $2,163,421, resulting in a gross loss of $75,393, an improvement from the previous year’s loss of $415,779. Operating expenses remained relatively stable at $643,767, leading to a net loss of $798,804, a decrease of 26% from the prior year’s loss of $1,077,360. The company faced a working capital deficit of $2,679,437, with total current liabilities reaching $3,514,227. Cash used in operating activities was $752,278, reflecting operational challenges. Despite these financial difficulties, the company’s liquidity was bolstered by financing activities, which generated $1,462,064 in cash. Key risk factors include reliance on foreign labor, potential disruptions in operations, and the need for additional financing. The company aims to strengthen its market position in the recycling sector while navigating these challenges. Future outlook remains uncertain, hinging on successful execution of its business model and securing necessary funding.