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AFB Limited has submitted its annual report on Form 10-K for the fiscal year ended November 30, 2024 filing.
The company reported a net loss of $31,850 for the fiscal year, compared to a net loss of $24,695 for the period ended November 30, 2023.
Revenue for the fiscal year was $43,150, an increase from $6,000 in the previous period. The revenue was generated from e-commerce advisory services, including strategy consulting and performance monitoring.
General and administrative expenses for the fiscal year were $57,000, up from $25,518 in the prior period. These expenses included professional fees, audit fees, and other operational costs.
AFB Limited's cash and cash equivalents increased to $29,258 as of November 30, 2024, from $8,185 at the end of the previous period. The increase was primarily due to the issuance of common stock.
The company issued 1,020,000 shares of common stock at $0.05 per share during the fiscal year, raising gross proceeds of $51,000.
AFB Limited operates as an e-commerce advisory firm, primarily in Hong Kong, and focuses on helping businesses develop and implement e-commerce strategies.
The company identified risks related to the lack of trademark and patent protection, which could affect its brand and competitive position.
AFB Limited has no subsidiaries and is subject to various regulations in Hong Kong, including privacy and intellectual property laws.
The company plans to rely on revenue generation and potential shareholder support to finance its operations, as it faces substantial doubt about its ability to continue as a going concern.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AFBL annual 10-K report dated January 24, 2025. To report an error, please email earnings@qz.com.