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Guru App Factory Corp Com (GAFC0.00%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing an increase in revenue to $90,000 from $10,000 in the same quarter the previous year. The increase is attributed to the completion and delivery of software to a customer during the quarter.
Operating expenses for the quarter were $94,174, compared to $11,387 in the same quarter of the previous year. The increase in expenses is due to higher general and administrative expenses, professional fees, and developmental costs.
The company reported a net loss of $4,174 for the quarter, compared to a net loss of $1,387 in the previous year.
Cash used in operating activities was $18,414 for the six-month period ended January 31, 2025, compared to $936 in the previous year.
Guru App Factory Corp Com had total assets of $40,960 as of January 31, 2025, compared to $68,190 as of July 31, 2024. Total liabilities were $6,303, down from $25,803 as of July 31, 2024.
The company acknowledges the need for additional capital to meet long-term operating requirements and plans to raise funds through the sale of equity or debt securities.
The filing also indicates that the company does not have any off-balance sheet arrangements that could affect its financial condition.
The company's management has identified a need to improve disclosure controls and procedures to ensure timely reporting of material information.
No legal proceedings are currently pending against the company, and no equity securities were sold during the reporting period.
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 quarterly 10-Q report dated March 13, 2025. To report an error, please email earnings@qz.com.