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Eline Entertainment Group, Inc. (EEGI0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing shows that the company did not generate any revenue for the three months ended September 30, 2024, similar to the same period in 2023.
Operating expenses for the three months ended September 30, 2024, were reported at $6,619, a decrease from $13,949 in the same period of the previous year. The decrease is primarily attributed to reduced professional fees.
For the nine months ended September 30, 2024, operating expenses totaled $19,619, down from $37,330 for the same period in 2023. The reduction in expenses is mainly due to lower professional fees.
The company reported a net loss of $6,619 for the three months ended September 30, 2024, compared to a net loss of $13,949 for the same period in the previous year.
For the nine months ended September 30, 2024, the net loss was $19,619, compared to a net loss of $37,330 for the nine months ended September 30, 2023.
As of September 30, 2024, Eline Entertainment Group, Inc. had no cash and a working capital deficit of $76,051.
The company did not engage in any investing activities during the nine months ended September 30, 2024, and 2023.
No financing activities were reported for the nine months ended September 30, 2024, compared to $22,777 received from related parties in the same period of the previous year.
The report highlights the company's intention to raise capital to fund its business plan, which includes acquiring operating companies, though no capital has been raised as of the filing date.
Eline Entertainment Group, Inc. identifies itself as a blank check company with no current operations and acknowledges substantial doubt about its ability to continue as a going concern.
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 January 24, 2025. To report an error, please email earnings@qz.com.