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JAAG Enterprises Ltd. (JAGL-12.31%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $17,821, an increase from $14,326 in the same quarter the previous year. Cost of sales for the quarter was $11,054, resulting in a gross profit of $6,767.
Selling, general, and administrative expenses for the quarter were $32,737, compared to $36,943 in the same quarter of the previous year.
The company reported a net loss of $25,359 for the quarter, compared to a net loss of $31,787 in the previous year.
For the six months ended December 31, 2024, revenue was $27,800, with a gross profit of $10,989 and cost of sales at $16,811.
Selling, general, and administrative expenses for the six-month period were $46,032, compared to $51,954 in the previous year.
The company reported a net loss of $34,609 for the six-month period, compared to a net loss of $45,223 in the previous year.
Cash used in operating activities for the six months ended December 31, 2024, was $47,505, with cash provided by financing activities amounting to $43,604.
JAAG Enterprises had total assets of $935 and total liabilities of $2,551 as of December 31, 2024.
The company had a working capital deficiency of $1,616 as of December 31, 2024.
JAAG Enterprises anticipates needing $50,000 for operations over the next 12 months and plans to seek additional financing through equity sales and loans.
The company identified deficiencies in its disclosure controls and procedures, citing inadequate personnel and insufficient segregation of duties.
A Memorandum of Understanding was signed on January 13, 2025, with Elegant Gift Shop Company Limited for the distribution of uniform garments in Hong Kong.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the JAAG Enterprises Ltd. quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.