Tue, Aug 27, 8:05 AM (140 days ago)
Zhanling International Limited reported no revenue for the transition period ending May 31, 2024, and incurred a net loss of $10,463, reflecting a continued trend of financial instability since its inception. The company has not generated any operational income, leading to an accumulated deficit of $390,210. Operating expenses for the period primarily consisted of professional fees, totaling $10,463, which is an increase of 18% from the previous year. The company’s liquidity remains precarious, with no cash on hand and a working capital deficiency of $8,374. The management plans to seek additional funding through equity financing or loans from related parties to sustain operations and pursue business opportunities, but there are significant risks associated with this strategy. The company has undergone multiple changes in management, with recent appointments indicating a shift in leadership. Zhanling's future outlook is uncertain, given its reliance on external financing and the lack of a defined business model. The company has also highlighted regulatory risks related to its operational base in China, which could impact its ability to attract investors and conduct business effectively. The absence of revenues and ongoing losses raise substantial doubt about the company's ability to continue as a going concern.