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Keemo Fashion Group Ltd has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing revenue of $5,012 for the three months ended January 31, 2025, compared to $5,100 for the same period in the previous year.
Cost of revenue for the quarter was $2,553, resulting in a gross profit of $2,459. General and administrative expenses increased to $12,713 from $4,737 in the previous year.
The company reported a net loss of $10,254 for the quarter, compared to a net loss of $2,160 in the previous year.
Cash and cash equivalents as of January 31, 2025, were $21,875, an increase from $19,421 as of July 31, 2024.
The company has a working capital deficit of $67,600 and acknowledges substantial doubt about its ability to continue as a going concern.
Keemo Fashion Group Ltd is dependent on cash flow from revenue and financial support from a shareholder to meet its obligations.
The filing also details the company's inventory and prepayment balances, which were $2,569 and $1,835, respectively, as of January 31, 2025.
The company has identified material weaknesses in its internal controls over financial reporting, including inadequate segregation of duties and insufficient written policies.
Keemo Fashion Group Ltd continues to operate in the apparel and garment trading business, focusing on wholesaling to distributors mainly based in China.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the KEEMO FASHION GROUP LTD quarterly 10-Q report dated March 14, 2025. To report an error, please email earnings@qz.com.