Mon, Jul 15, 5:49 PM (54 days ago)
Yinfu Gold Corporation's 10-K for the fiscal year ending March 31, 2024, highlights several key financial metrics and strategic developments. The company reported no revenue for the year, resulting in a net loss of $65,461, a significant improvement from the previous year's loss of $371,084. Operating expenses were $82,877, down from $430,382 in the prior year, mainly due to decreased management salaries. Total assets increased to $25,860 from $12,924, primarily due to operating lease right-of-use assets. Liabilities rose slightly to $2,656,537, leading to a stockholders' deficit of $2,630,677. The company raised $120,000 through a private placement of shares. Future outlook and risks include the need for additional capital and regulatory challenges in China.