Wed, Dec 11, 12:39 PM (66 days ago)
Vanguard Green Investment Limited (OTC: VGES) reported minimal financial activity for the quarter ending October 31, 2024, reflecting ongoing challenges in revenue generation. The company recorded no revenue and incurred a net loss of $15,685, compared to a loss of $10,412 in the same period the previous year. General and administrative expenses increased to $15,688 from $13,425, indicating rising operational costs. Cash and cash equivalents slightly decreased to $12,017 from $12,052. The company relied on financing activities, primarily loans from a director, generating $727 in cash flow during the quarter. Total liabilities stood at $679,402, with significant loans from directors and third parties contributing to the capital structure. The accumulated deficit grew to $2,499,728, highlighting financial strain. The company continues to face uncertainties regarding its operations and ability to achieve profitability, raising concerns about its going concern status. Management emphasizes the need for ongoing financial support and potential future financing to sustain operations. Overall, the lack of revenue and increasing losses indicate a critical need for strategic operational changes to enhance financial health moving forward.