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Guru App Factory Corp Com (GAFC0.00%) has submitted its 10-K filing for the fiscal year ended July 31, 2024.
The filing details the company's business activities, including development and sale of mobile applications on iOS (AAPL+0.54%) and Google Play (GOOGL+1.66%) platforms, as well as software development consulting services.
Guru App Factory Corp reported revenue of $82,500 for the fiscal year, compared to $0 for the period from inception on March 7, 2023, to July 31, 2023. The revenue increase is attributed to the launch of its products and services.
Operating expenses for the year were $105,472, up from $761 in the previous period, primarily due to increased general and administrative expenses.
The company reported a net loss of $22,972 for the fiscal year, compared to a net loss of $761 in the prior period.
As of July 31, 2024, Guru App Factory Corp had total assets of $68,190 and total liabilities of $25,803, resulting in stockholders' equity of $42,387.
Cash flows from operating activities resulted in a net cash outflow of $37,641 for the fiscal year, while cash flows from financing activities provided $62,598.
The company issued 3,106,000 shares of common stock during the fiscal year, raising $62,120 in proceeds.
Guru App Factory Corp does not anticipate paying cash dividends in the foreseeable future.
The company has identified no material commitments or off-balance sheet arrangements as of the date of the report.
Guru App Factory Corp's management acknowledges substantial doubt about the company's ability to continue as a going concern due to accumulated losses and the need for additional capital resources.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Guru App Factory Corp Com annual 10-K report dated November 8, 2024. To report an error, please email earnings@qz.com.