In This Story
Antiaging Quantum Living Inc (AAQL0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing revenues of $173,174 compared to $0 in the same quarter the previous year. The revenue increase is attributed to the sales of health and beauty products.
Operating expenses for the quarter were $356,569, up from $24,378 in the same quarter of the previous year. This increase is due to higher rental expenses and employee wages related to business expansion.
The company reported a net loss of $197,746 for the quarter, compared to a net loss of $24,378 in the previous year, with the increase attributed to higher operating expenses.
For the six months ended September 30, 2024, the company generated revenue of $375,243, up from $1,200 in the same period the previous year. This increase is mainly due to the sales of health and beauty products and online platform services.
Operating expenses for the six months were $772,405, compared to $55,305 in the previous year. The increase is due to business expansion and associated costs.
The company reported a net loss of $411,654 for the six months, compared to a net loss of $54,105 in the previous year, mainly due to increased operating expenses.
As of September 30, 2024, Antiaging Quantum Living Inc had an accumulated deficit of $1,100,957 and a working capital deficit of $986,427.
The company continues to rely on shareholder loans for funding and does not have any outstanding bank loans.
Management plans to address the going concern issue by improving business profitability and securing additional working capital from the majority shareholder.
The filing also notes that the company has no off-balance sheet arrangements and identifies material weaknesses in internal controls over financial reporting.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Antiaging Quantum Living Inc - Class A quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.