Thu, Nov 14, 1:51 PM (59 days ago)
Yinfu Gold Corporation (YINFU) reported a net loss of $12,015 for Q2 2024, a 45% improvement from the $21,779 loss in Q2 2023. Total operating expenses decreased by 9% to $19,754, attributed to reduced general and administrative costs. The company continues to generate no revenue, maintaining a working capital deficiency of $2,681,856 as of September 30, 2024, up from $2,631,139 in March 2024. Total liabilities increased slightly to $2,705,959, with significant related party loans contributing to the overall debt. Cash flow analysis shows $20,321 used in operating activities, primarily due to the net loss and changes in working capital. Despite rental income of $16,662 from a related party lease, the company remains reliant on external financing, including advances from its president. The financial health is precarious, with an accumulated deficit of $2,859,907, raising doubts about its ability to continue as a going concern without additional capital. Ongoing uncertainties related to regulatory changes in China further complicate future operations.