Wed, May 15, 2:15 PM (205 days ago)
Weed, Inc. reports a net loss of $170,652 for Q1 2024, an improvement from a $197,014 loss in Q1 2023. The company has no revenue and continues to incur operating expenses primarily from general and administrative costs, professional fees, and depreciation. Cash decreased to $102,696 from $290,409 at the end of 2023, indicating a high burn rate. Current liabilities decreased slightly to $596,333 due to reductions in accrued officer compensation and notes payable. The company's financial position raises substantial doubt about its ability to continue as a going concern, necessitating additional financing. No new stock was issued, and no significant changes occurred in internal controls over financial reporting.