10-Q - Zentrum Holdings, Inc. (0001818152) (Filer)

Thu, Nov 21, 9:30 PM (55 days ago)

Zentrum Holdings, Inc. (ZTRM) reported its Q3 2024 financial results, revealing a modest revenue of $196, a significant increase from zero in Q3 2023. However, the company continues to face substantial challenges, posting a net loss of $56,103 for the quarter, compared to a loss of $84,992 in the same period last year. For the nine months ending September 30, 2024, the total net loss amounted to $163,485, down from $207,703 in 2023. The company's cash position declined to $1,241 from $3,549 at year-end 2023, and it recorded negative cash flows from operations of $119,195, offset by financing activities of $117,041 primarily from related parties. Zentrum's working capital deficit increased to $861,487, highlighting ongoing liquidity issues. The financial statements raise substantial doubt about the company's ability to continue as a going concern, primarily due to persistent operating losses and reliance on related party financing. Management's plans to sustain operations hinge on continued support from Koichi Ishizuka, the CEO. Overall, while there is a slight improvement in revenue, the outlook remains uncertain due to cash flow constraints and increasing liabilities.