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Eline Entertainment Group, Inc. (EEGI-50.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2023.
The filing indicates that Eline Entertainment Group, Inc. did not generate any revenue for the three months ended September 30, 2023, or the same period in 2022.
Operating expenses for the three months ended September 30, 2023, were $13,949, compared to $2,501 for the same period in 2022, primarily due to increased professional fees.
The company reported a net loss of $13,949 for the three months ended September 30, 2023, compared to a net loss of $2,501 for the same period in 2022.
For the nine months ended September 30, 2023, operating expenses totaled $37,330, compared to $21,214 for the same period in 2022.
The company recorded a net loss of $37,330 for the nine months ended September 30, 2023, compared to a net loss of $21,214 for the same period in 2022.
As of September 30, 2023, Eline Entertainment Group, Inc. reported no cash and a working capital deficit of $39,831.
The company received $22,777 in advances from a related party for working capital purposes during the nine months ended September 30, 2023.
Eline Entertainment Group, Inc. is classified as a blank check company with no current operations, focusing on raising capital for potential acquisitions.
The filing notes that there are no off-balance sheet arrangements and no material legal proceedings involving the company.
The company acknowledges material weaknesses in its internal controls over financial reporting, including inadequate segregation of duties and insufficient written policies and procedures.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Eline Entertainment Group, Inc. quarterly 10-Q report dated December 23, 2024. To report an error, please email earnings@qz.com.