Fri, Sep 13, 2:52 PM (99 days ago)
For the quarter ending July 31, 2024, Starguide Group, Inc. reported significant financial challenges, with revenues declining 97% to $42, down from $1,399 in the same quarter of 2023. The company incurred a net loss of $16,595, a 49% improvement compared to the prior year's loss of $32,517, primarily due to reduced operating expenses, which fell by 54%. Despite the reduction in losses, the overall financial health remains precarious, with total current liabilities rising to $293,616 against current assets of only $63, resulting in a working capital deficiency of $293,553. Cash flows from operating activities were negative at $38,218, although financing activities provided $38,576, indicating reliance on external funding to sustain operations. The company's accumulated deficit increased to $296,702, raising substantial doubt about its ability to continue as a going concern without additional capital or support from its major shareholder. The report highlights ongoing uncertainties and the need for strategic efforts to secure funding and operational viability in the future.