Mon, Aug 19, 8:04 PM (148 days ago)
For the quarter ending June 30, 2024, World Health Energy Holdings, Inc. reported a significant decline in revenues, totaling $19,047,000 compared to $102,646,000 in the same period of 2023. The decrease was primarily due to the absence of one-time services recognized in the prior year. The company incurred a net loss of $1,142,354, an improvement from a loss of $1,540,586 in Q2 2023, reflecting reduced operating expenses, particularly in research and development and general and administrative costs. Total assets increased to $10,360,869, while total liabilities rose to $3,966,534, indicating a worsening working capital deficit of $406,827. Cash reserves decreased to $125,807, raising concerns about liquidity. Management anticipates continued losses and negative cash flows, relying on ongoing investment from a director to sustain operations. Future operations may be impacted by geopolitical uncertainties, particularly related to the ongoing conflict in Israel, which could disrupt services and contractual obligations. The company is focused on strategic partnerships and potential uplisting to secure additional funding.