Thu, Nov 14, 5:35 PM (62 days ago)
In its Q3 2024 10-Q filing, TipMeFast, Inc. (Ticker: TBD) reported no revenue for the quarter ending September 30, 2024, maintaining a trend of zero revenue since its inception. The company incurred a net loss of $6,352 for the quarter, contributing to a total net loss of $22,173 for the nine months ending September 30, 2024, compared to a loss of $10,850 in the same period of the previous year. Total liabilities increased to $55,238 from $33,065 at year-end 2023, reflecting growing operational costs, particularly in professional fees, which rose significantly to $15,080 year-to-date. The company continues to face liquidity challenges, having no cash on hand and a reliance on related party financing, evidenced by an increase in amounts owed to its president. Management has expressed concerns regarding its ability to continue as a going concern without additional capital. Future operations hinge on securing financing to support its business model and marketing efforts. The company is also in the process of acquiring Lucent, Inc., which could impact its operational strategy. Overall, TipMeFast remains in a precarious financial position with significant uncertainties ahead.