Thu, Aug 15, 12:14 PM (152 days ago)
As of June 30, 2024, Un Monde International Ltd. (formerly Asiarim Corp.) reported no revenue generation, maintaining a challenging financial position characterized by a working capital deficit of $248,921 and continued net losses. For Q2 2024, the company incurred a net loss of $18,640, a slight improvement from $23,393 in Q2 2023. Year-to-date losses totaled $43,361, up from $26,393 in the prior year, primarily due to increased operational expenses related to public reporting obligations and lease expenses. Total liabilities surged to $346,658 from $182,301 at year-end 2023, significantly impacting stockholders’ equity, which showed a deficit of $215,070. The company has not commenced revenue-generating operations and relies on advances from related parties, totaling $220,529 as of the reporting date. Management acknowledges substantial doubt regarding the company's ability to continue as a going concern unless it successfully raises additional funds to support its business plan. The financial statements reflect a commitment to future operations, yet the lack of cash reserves raises concerns about liquidity and operational viability.