In This Story
GMTECH INC. (GMTH0.00%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing that GMTECH INC. reported no revenue, compared to $22,800 in the same quarter the previous year. The lack of revenue is attributed to the absence of recorded sales during the period.
Operating expenses for the quarter were $334,306, up from $16,848 in the previous year. This increase is primarily due to advertising and marketing expenses.
The company reported a net loss of $334,260 for the quarter, compared to a net income of $983 in the previous year.
Cash provided by operating activities was $283,089, while cash provided by financing activities was $155,562. No cash flows were generated from investing activities.
GMTECH INC. had total assets of $1,003,373 as of January 31, 2025, with cash and cash equivalents accounting for $546,627.
Total liabilities were reported at $1,169,909, with deferred revenue amounting to $802,933.
The company acknowledges its dependence on raising additional capital through equity or debt financing to meet future obligations.
The filing also details acquisitions, including 100% ownership of Anptech Inc., Fengyi Global Co., LTD., and Shenggang Excellence Limited.
GMTECH INC. identified a material uncertainty about its ability to continue as a going concern due to a working capital deficit and ongoing net losses.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the GMTECH INC. quarterly 10-Q report dated March 17, 2025. To report an error, please email earnings@qz.com.