Thu, Nov 14, 5:01 PM (95 days ago)
Vestiage, Inc. (OTC: VEST) reported no revenue for the third quarter ending September 30, 2024, mirroring the same period in 2023. Operating expenses decreased to $9,967 from $10,132 year-over-year, with a nine-month total of $36,851 compared to $46,323 in 2023. The net loss for Q3 2024 was $9,967, slightly improved from $10,132 in Q3 2023, while the nine-month net loss narrowed to $36,851 from $46,323. As of September 30, 2024, the company had liabilities of $94,546 and a stockholders' deficit of $94,546, indicating financial distress with no cash reserves. The company’s reliance on related party financing continues, with advances totaling $80,241 as of the reporting date. The management expressed uncertainty about the company's ability to continue as a going concern, emphasizing the need for capital to support operational activities. The report highlights challenges in revenue generation and operational sustainability, alongside a material weakness in internal controls due to inadequate segregation of duties.