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BlueOne Card, Inc. (BCRD0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details the company's financial position, showing a net loss of $234,061 for the three months ended September 30, 2024, compared to a net loss of $415,236 for the same period in the previous year.
Operating expenses decreased to $229,816 from $425,376, with reductions in advertising, marketing, and consulting expenses.
Revenue for the period was reported at $0, with no sales of prepaid debit cards, compared to $3,000 in revenue for the same period last year.
Cash used in operating activities was $223,088 for the six months ended September 30, 2024, compared to $555,161 for the same period in 2023.
BlueOne Card's balance sheet shows total assets of $835,799 and total liabilities of $924,417 as of September 30, 2024.
The company has an accumulated deficit of $4,365,172 and a working capital deficit of $887,855.
The filing highlights a recent agreement with Expanse Financial Technologies, Inc. to act as a reseller of prepaid, branded cards.
BlueOne Card also announced a pending acquisition of a 60% equity interest in Millennium EBS, Inc., which is expected to enhance its capabilities in the fintech sector.
The company continues to face substantial doubt about its ability to continue as a going concern, relying on shareholder support and potential financing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Blueone Card Inc quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.