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Incordex Corp (ICDX0.00%). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenues to $1,805 from $4,700 in the same quarter the previous year.
Operating expenses for the quarter were $9,207, compared to $4,604 in the same quarter of the previous year. The increase is attributed to higher professional fees.
The company reported a net income of $5,098 for the quarter, compared to $96 in the previous year, with the increase attributed to other income of $12,500.
Cash flows used in operating activities were $3,762, while cash flows provided by financing activities were $5,000, primarily from a director loan.
Incordex had total assets of $21,777 as of September 30, 2024, primarily consisting of cash and intangible assets.
Total liabilities were $26,395, including a director loan of $24,014 and accounts payable of $2,381.
The company continues to face challenges related to its going concern status, with an accumulated deficit of $38,618 as of the end of the quarter.
Incordex plans to raise additional capital through the sale of equity or debt securities to fund its operations.
The filing also details the company's plan to develop and sell a Customer Relationship Management program and Reporting and Analytics Software.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the INCORDEX CORP. quarterly 10-Q report dated November 6, 2024. To report an error, please email earnings@qz.com.