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GHST World Inc (GHST-25.79%). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing an increase in revenue to $45,732 from $23,841 in the same quarter the previous year. The increase is attributed to consulting services provided through InSSiDe World Inc.
Operating expenses for the quarter were $58,449, down from $78,841 in the same quarter of the previous year. These expenses included general and administrative costs and patent development costs.
The company reported a net loss of $12,717 for the quarter, compared to a net loss of $56,095 in the previous year.
Cash used in operating activities was $45,173, while cash provided by financing activities was $29,039, primarily from advances from related parties.
GHST had $2,168 in cash as of September 30, 2024. The company continues to rely on loans from investors and related parties to fund operations.
The filing notes a material weakness in internal controls over financial reporting, specifically in identifying and maintaining segregation of duties for related-party transactions.
GHST is focused on developing the Smart Shin Guard, a wearable protective device, and seeks additional capital and strategic alliances to support product development and marketing.
The company acknowledges substantial doubt about its ability to continue as a going concern due to its financial condition and need for additional financing.
GHST does not anticipate generating significant revenue until it can implement its business plan and begin marketing its products and services.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GHST World Inc quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.