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AI Unlimited Group Inc. (AIUG+0.49%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing outlines the company's focus on fintech-driven consumer liabilities and debt management through its core offering, the Lever App, which was soft-launched on the iOS App Store in Q3 of fiscal 2022.
AI Unlimited Group reported no significant revenue for the nine months ending September 30, 2024, and continues to focus on developing its product offerings, including the Lever App, Nest Egg, Resolve Debt, and Travl.App.
The company recorded a net loss of $3,060,087 for the nine months ending September 30, 2024, compared to a net loss of $2,026,766 for the same period in 2023.
AI Unlimited Group's balance sheet shows total assets of $2,401,736 as of September 30, 2024, with cash and cash equivalents totaling $510,797.
The company's liabilities include accounts payable of $56,502 and a related party loan of $302,860, with total liabilities amounting to $359,362.
AI Unlimited Group's stockholders' equity stands at $2,042,374, with common stock issued and outstanding at 313,319,980 shares as of September 30, 2024.
The company anticipates needing additional capital to support its growth plans and is exploring options for raising funds through private equity or public markets.
AI Unlimited Group's strategic roadmap includes expanding the Lever App's functionality to include credit card and auto loan refinancing, and launching on both the App Store and Play Store in fiscal 2024.
The company continues to focus on enhancing its AI-driven platforms to provide comprehensive solutions for debt management, investment, and travel planning.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the AI Unlimited Group Inc. quarterly 10-Q report dated December 3, 2024. To report an error, please email earnings@qz.com.