Tue, Jun 11, 1:22 PM (88 days ago)
Tofla Megaline Inc. reported its financial results for the quarter ended April 30, 2024. Key financial highlights include: - **Revenue**: The company generated $0 in revenue for the three months ended April 30, 2024, compared to $44,400 in the same period in 2023. For the nine months ended April 30, 2024, revenue was $21,700, down from $51,350 in the same period in 2023. - **Operating Expenses**: Total operating expenses for the quarter were $12,952, down from $30,634 in Q3 2023. For the nine months, operating expenses were $44,934, slightly down from $47,113 the previous year. The decrease was primarily due to reduced general and administrative expenses. - **Net Income (Loss)**: The company reported a net loss of $12,952 for the quarter, compared to a net income of $13,766 in Q3 2023. For the nine months, the net loss was $23,371, compared to a net income of $4,237 in the same period in 2023. - **Cash Flow**: As of April 30, 2024, the company had no cash, down from $22,010 as of July 31, 2023. The company used $9,865 in operating activities and $20,000 in investing activities, while generating $7,855 from financing activities. - **Going Concern**: The company has expressed substantial doubt about its ability to continue as a going concern due to limited revenues and an accumulated deficit of $52,282 as of April 30, 2024. Management plans to finance operations through loans from directors and private placements of common stock.