Mon, May 20, 2:15 PM (425 days ago)
TipMeFast, Inc. reported a net loss of $7,216 for Q1 2024, compared to a net loss of $3,250 in Q1 2023. The company had no revenues for both periods. Operating expenses increased to $7,216 in Q1 2024 from $3,250 in Q1 2023, primarily due to higher professional fees and general administrative costs. As of March 31, 2024, the company had total liabilities of $40,281 and an accumulated deficit of $126,296, compared to total liabilities of $33,065 and an accumulated deficit of $119,080 as of December 31, 2023. The company had no cash or current assets and is dependent on additional investment capital to fund operating expenses. Management highlighted the company's going concern issue, noting the need for additional financing to continue operations. No significant changes in internal controls were reported. The company is not involved in any legal proceedings and has no off-balance sheet arrangements.