Fri, Dec 13, 6:19 PM (33 days ago)
For the quarter ending October 31, 2024, WarpSpeed Taxi Inc. (WSTI) reported a net loss of $12,070, a significant increase from the $5,232 loss in the same period of 2023. The company has not generated any revenue to date, with expenses primarily attributed to general and administrative costs. Current assets slightly decreased to $15,019, while current liabilities rose to $100,064, primarily due to increased accounts payable. The company’s accumulated deficit reached $628,072. Cash flows from operating activities were negative at $6,730, reflecting the higher net loss. No financing activities occurred in the quarter. The company has expressed substantial doubt about its ability to continue as a going concern, emphasizing the need for additional capital to sustain operations. Looking ahead, WarpSpeed Taxi is exploring a joint venture to operate a ride-hailing business, requiring $1.5 million in funding. However, no commitments from stakeholders have been secured. The company remains in the development phase of its application, with no commercial operations commenced. Financial uncertainties persist, necessitating careful monitoring by investors.