Tue, May 14, 8:25 PM (73 days ago)
Venetian-1 Acquisition Corp. filed its 10-Q for the quarter ended March 31, 2024. The company remains a shell company with no revenue since inception. Key financial metrics include a net loss of $11,291 for Q1 2024, compared to $13,126 in Q1 2023. The company's total assets are $15,393, primarily cash, while total liabilities are $128,900, leading to a stockholders' deficit of $113,507. The company relies on stockholder loans for financing, with a note payable of $107,500. Management highlights substantial doubt about the company's ability to continue as a going concern due to its ongoing need for additional capital to fund operations and potential acquisitions. The focus remains on identifying suitable acquisition candidates to achieve long-term growth.