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BestGofer Inc. has submitted its 10-K filing for the annual period ended November 30, 2024.
The filing outlines the company's business focus on providing delivery services through a smartphone app, allowing consumers to have retail items purchased and delivered to their door.
The company reported no revenue for the years ended November 30, 2024, and 2023, and acknowledged substantial losses, with net losses of $27,562 and $43,792, respectively.
Operating expenses for the year ended November 30, 2024, were $27,562, including general and administrative expenses of $11,538 and professional fees of $21,478.
The company has a total of $12,500 in assets and $111,047 in liabilities as of November 30, 2024, with liabilities primarily consisting of accounts payable and amounts due to a related party.
BestGofer's financial statements indicate a going concern issue, as the company does not have an established source of revenue sufficient to cover its operating costs.
The company plans to fund operations through debt and securities sales until it generates sufficient revenue from its business operations.
Management's discussion highlights the company's dependence on raising additional capital to continue operations and develop its app.
The filing notes that the company has not declared any dividends and does not anticipate doing so in the foreseeable future.
BestGofer's internal control over financial reporting was deemed ineffective due to its small size and lack of segregation of duties.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the BGFR annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.