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Global Leaders Corp Com (GLCP0.00%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing revenues of $2,567, a decrease from $7,678 in the same quarter of the previous year. The decrease is attributed to a reduction in consultancy and training services provided.
Operating expenses for the quarter were $35,235, compared to $29,898 in the previous year. The increase is largely due to professional fees and general administrative expenses.
The company reported a net loss of $32,668 for the quarter, compared to a net loss of $22,220 in the previous year.
Cash used in operating activities was $31,678, while cash provided by financing activities was $33,388, primarily from advances by the company's officer and principal shareholder.
Global Leaders Corp had a cash balance of $2,280 as of January 31, 2025. The company acknowledges substantial doubt about its ability to continue as a going concern within one year of the date of the financial statements.
The filing also highlights a material weakness in internal controls over financial reporting due to inadequate segregation of duties.
The company operates as a single reportable segment and is dependent on a small number of customers and vendors for its revenue and operating expenses.
No shares of common stock were issued during the quarter, and the company did not engage in any unregistered sales of equity securities.
Global Leaders Corp is not currently subject to any legal proceedings and does not anticipate any cash dividend payments to common stockholders in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Global Leaders Corp Com quarterly 10-Q report dated March 10, 2025. To report an error, please email earnings@qz.com.