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Kashin Inc (KUSA) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing reports that Kashin Inc has not generated revenue for the three months ended January 31, 2025, resulting in a net loss of $33,002. This compares to a net loss of $13,237 for the same period in 2024.
For the nine months ended January 31, 2025, Kashin Inc reported a net loss of $42,819, compared to a net loss of $52,841 for the same period in 2024. The decrease in net loss is attributed to professional fees and other general expenses.
The company has a working capital deficit of $135,656 and an accumulated deficit of $698,545 as of January 31, 2025. The auditors have issued a 'going concern' opinion, indicating substantial doubt about the company's ability to continue operations without additional capital.
Kashin Inc has received $210,656 in loans and payments of expenses from a related party as of January 31, 2025. The company has no substantial revenues anticipated until its business plan is implemented.
A Share Exchange Agreement was entered into on January 28, 2025, with McConnell Technology LLP, resulting in Kashin Inc becoming the 100% shareholder of McConnell Moran Technology Corporation.
The company has no off-balance sheet arrangements that are material to investors. Disclosure controls and procedures were found to be ineffective due to material weaknesses in internal controls over financial reporting.
Kashin Inc is not involved in any pending legal proceedings, and no such proceedings are known to be contemplated.
During the quarter ended January 31, 2025, no director or officer of the company adopted or terminated a Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Kashin Inc quarterly 10-Q report dated March 28, 2025. To report an error, please email earnings@qz.com.