Tue, Sep 10, 8:12 PM (24 days ago)
For the quarter ended July 31, 2024, Yijia Group Corp. reported a revenue of $108,477, a significant increase compared to $0 in the same period last year, attributed to the launch of its healthcare products segment. However, the company incurred a net loss of $55,211, up from a loss of $24,247 in the prior year, driven by rising operating expenses which totaled $118,587, reflecting increased personnel costs and legal fees. Current assets rose slightly to $1,200,851, mainly due to higher inventories and advances to vendors, while current liabilities increased to $199,374. Cash flow from operations showed a net outflow of $504,001, primarily due to the net loss and changes in working capital. The company continues to face uncertainties as it navigates its startup phase and seeks additional capital for growth. Management identified weaknesses in internal controls, particularly a lack of an effective audit committee, which could impact financial reporting integrity. Future operations may be influenced by the company's ability to generate sustainable revenue and manage costs effectively amidst these challenges.