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Caro Holdings Inc (CAHO+7.45%). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing revenue of $5,626 for the three months ended September 30, 2024, compared to $0 in the same quarter the previous year.
Operating expenses for the quarter were $46,125, down from $65,802 in the previous year, primarily due to reduced software and website development costs.
The company reported a net loss of $68,155 for the quarter, compared to a net loss of $181,386 in the previous year, attributed to decreased operating and other expenses.
Total current assets as of September 30, 2024, were $245,062, while total current liabilities were $1,039,329, resulting in a working capital deficiency of $794,267.
Cash used in operating activities for the six months ended September 30, 2024, was $50,361, with cash provided by financing activities amounting to $74,500.
The company continues to focus on developing its B2B, B2C, and D2C systems, targeting small to mid-size brands aiming to enhance their digital presence.
The filing highlights a going concern uncertainty due to accumulated deficits and reliance on financing to support operations.
Caro Holdings intends to expand its marketplace platform to the pet care and spirits industries in the United States and the United Kingdom.
The company issued 670,808 shares of common stock for the repayment of convertible note principal and accrued interest during the six months ended September 30, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Caro Holdings Inc quarterly 10-Q report dated November 12, 2024. To report an error, please email earnings@qz.com.