Wed, Dec 11, 12:18 PM (66 days ago)
Starguide Group, Inc. (STG), for the quarter ending October 31, 2024, reported significant financial challenges, with a net loss of $16,847, a 37% reduction from the prior year's loss of $26,930. Revenue surged to $1,961, a 423% increase, yet gross profit dropped to $100 from $375 due to high costs of sales. Operating expenses decreased by 42% to $15,374, primarily from lower audit fees and management salaries. Current assets fell to $95, while current liabilities rose to $310,233, resulting in a working capital deficit of $310,138, up 23% from January 31, 2024. The company has an accumulated deficit of $312,229 and negative cash flow from operations of $47,771. This raises concerns about its ability to continue as a going concern without additional funding or support from its major shareholder. Cash flow from financing activities was slightly down to $48,226, primarily from convertible notes. The company remains focused on incubating Software as a Service (SaaS) startups, but uncertainties persist regarding future operations and capital raising efforts.