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Free Flow Inc (FFLO0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenues of $6,123, compared to $4,032 in the same period the previous year. The company reported a gross profit of $2,339, contrasting with a gross loss of $11,539 in the previous year.
Operational expenses for the nine months ended September 30, 2024, were $428,941, up from $93,821 for the same period in 2023. The increase is attributed to higher professional and financial expenses.
The company recognized a net gain of $812,683 for the nine months ended September 30, 2024, compared to a net loss of $71,065 in the previous year. This improvement is largely due to a gain from the sale of a 19+ acre property.
As of September 30, 2024, Free Flow Inc had total current assets of $381,121, including $34,289 in cash and $6,680 in trade receivables.
The company reported that its revenues since inception totaled $2,924,181 as of September 30, 2024.
Free Flow Inc's board of directors added Mr. Ravinder Tikoo M.D as a member and appointed him as Chairman on August 26, 2024.
The filing does not report any legal proceedings or defaults upon senior securities.
The company issued 30,000,000 common shares as of September 30, 2024, following various private transactions and subscription agreements.
Management noted that the company does not have accounting staff due to limited financial resources but plans to address this in the future. No changes in internal controls over financial reporting were reported for the period 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 Free Flow Inc quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.