Concrete Leveling Systems Inc (CLEV) reports earnings

The report was filed on March 14, 2025

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Concrete Leveling Systems Inc (CLEV0.00%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.

The filing includes financial statements for the quarter, showing an increase in revenue to $125 from $100 in the same quarter the previous year. The increase is attributed to higher parts sales.

Cost of sales for the quarter was $10, compared to $0 in the same quarter of the previous year. This increase is due to a change in product mix from services to parts.

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Operating expenses, including selling, general, administrative expenses, and legal and professional fees, increased to $10,228 from $7,753, primarily due to higher accounting and auditing fees.

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The company reported a net loss of $12,696 for the quarter, compared to a net loss of $10,272 in the previous year. The increased loss was due primarily to higher legal and professional fees.

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Cash used in operating activities was $34,939 for the six months ended January 31, 2025, compared to $30,372 for the same period in 2024.

Cash provided by financing activities was $34,729, compared to $30,204 in the previous year, due to more advances from stockholders.

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Concrete Leveling Systems had total assets of $20,025 and total liabilities of $617,783 as of January 31, 2025. The company acknowledges its dependence on future financing and liquidity to continue operations.

The filing also highlights a going concern opinion from auditors due to substantial operating losses and working capital usage since inception.

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The company does not have any off-balance sheet arrangements and has not been involved in any legal proceedings.

Concrete Leveling Systems plans to enhance internal controls over financial reporting, including appointing additional personnel and adopting a whistleblower policy.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Concrete Leveling Systems Inc quarterly 10-Q report dated March 14, 2025. To report an error, please email earnings@qz.com.