10-Q - STARGUIDE GROUP, INC. (0001803096) (Filer)

Thu, Jun 13, 12:47 PM (86 days ago)

Starguide Group, Inc. reported a net loss of $23,236 for the quarter ended April 30, 2024, an increase from the $18,582 loss in the same period in 2023. Revenue dropped significantly to $108 from $1,786, while operating expenses rose to $22,097 from $18,947, driven by higher management salaries and professional fees. The company’s current liabilities exceed current assets by $273,315, indicating a severe working capital deficit. Cash flow from operations was negative at $22,879, worsened from $9,797 in the prior year, though financing activities provided $22,526. The company is heavily reliant on related party advances and convertible notes for liquidity. The substantial doubt about its ability to continue as a going concern persists, with accumulated deficits and negative cash flow highlighting ongoing financial instability. The company is transitioning to focus on SaaS startups, but the financial outlook remains uncertain.