Wed, Jun 26, 8:51 PM (73 days ago)
Trutankless, Inc. reported a significant decline in revenue, generating only $3,549 in 2023 compared to $73,009 in 2022. The company also saw a reduction in operating expenses from $4,147,014 in 2022 to $1,427,717 in 2023, primarily due to decreased consulting fees and changes in accounting policy. Despite these cost reductions, the net loss for 2023 was $2,038,458, an improvement from the $4,646,055 loss in 2022. The company faces substantial doubt about its ability to continue as a going concern, with a working capital deficit of $7,406,601 and an accumulated deficit of $66,665,913. Future plans include raising additional capital and investing in sales and marketing. Risk factors include competition, reliance on key personnel, and the need for additional financing.