Tue, Nov 12, 8:45 PM (66 days ago)
Worlds Inc. (OTC: WDDD) reported no revenue for the quarter ending September 30, 2024, continuing a trend of minimal financial activity. The company experienced a net loss of $146,226 for Q3 2024, compared to a loss of $90,721 in Q3 2023. Total expenses increased significantly, with selling, general, and administrative (SG&A) costs rising to $61,971 from $16,263, primarily due to higher data center expenses and consulting fees aimed at attracting investors. For the nine months ended September 30, 2024, the net loss was $373,968, up from $215,848 in 2023, reflecting ongoing operational challenges and a lack of revenue generation. As of September 30, 2024, cash and cash equivalents stood at $31,253, a decline from previous periods, with the company utilizing $213,604 for operating expenses. The liquidity position raises concerns about the company's ability to continue operations without additional capital. The company’s working capital deficiency and stockholder's deficit underscore significant financial uncertainty, prompting management to seek new funding sources to support future operations, particularly in expanding their non-fungible token offerings and virtual reality platforms. Future success remains uncertain, hinging on capital acquisition and operational execution.