Fri, Sep 6, 7:59 PM (105 days ago)
For the quarter ending September 30, 2022, Sound Cave Technology Inc. reported no revenue, maintaining a consistent trend since inception. The company incurred operating expenses of $320, a decrease from $1,060 in Q3 2021, leading to a net loss of $320 compared to a loss of $1,060 the previous year. Cumulatively, for the nine months ended September 30, 2022, losses totaled $10,513, reflecting increased operational activities and professional fees. Cash and cash equivalents rose to $6,562 from $768 at year-end 2021, primarily due to shareholder loans and a $6,800 share application received. Total liabilities increased to $15,207, driven by a rise in related party debts. The working capital deficit expanded to $8,645, indicating ongoing financial strain. Management highlighted significant uncertainties regarding future operations and the company's ability to generate revenue, raising concerns about its going concern status. The report underscores the need for continued financial support from shareholders and potential capital raises to sustain operations. Overall, the company remains in a precarious financial position, emphasizing the necessity for strategic funding to achieve viability.