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FUST (FUST-2.95%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $19,942, compared to $20,000 in the same quarter the previous year. The revenue was generated entirely from consulting services in the hospitality industry.
Operating expenses for the quarter were $66,798, down from $79,395 in the previous year, with the decrease primarily due to the absence of consulting fees.
The company reported a net loss of $50,203 for the quarter, compared to a net loss of $63,144 in the previous year.
Cash used in operating activities was $48,187, while cash used in financing activities was $598.
FUST had a working capital deficit of $118,230 as of December 31, 2024. The company acknowledges its need to raise additional funds to continue operations.
The filing also details a reverse stock split effective September 19, 2024, reducing the number of authorized shares from 375,000,000 to 75,000,000.
FUST continues to focus on consulting services in the mining and hospitality industries and is exploring potential acquisitions, although no significant acquisitions were completed during the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the FUST quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.