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KHOB (KHOB0.00%) has submitted its Form 10-K filing for the fiscal year ended October 31, 2024.
The filing outlines KHOB's business operations in the software and travel industry, focusing on an online platform for private and group adventures in Georgia and Tenerife, Spain.
KHOB reported total revenue of $41,055 for the year ended October 31, 2024, compared to $16,000 for the previous year. This increase is attributed to a rise in sales volume.
The company incurred a net loss of $34,295 for the year ended October 31, 2024, compared to a net loss of $47 for the previous year. The increase in net loss is due to higher operating expenses, including professional fees and marketing expenses.
As of October 31, 2024, KHOB's total assets were $36,541, with current liabilities of $32,408 and stockholders' equity of $4,133.
KHOB's cash flows from operating activities resulted in a net cash outflow of $23,132 for the year ended October 31, 2024.
The company highlighted its need for additional funding to develop its artificial intelligence-based algorithm and CRM system, estimating a requirement of $35,000.
KHOB's management identified material weaknesses in its internal controls over financial reporting, including the absence of an audit committee and inadequate IT controls.
The company does not currently have any employees other than its officer and director, Gaga Gvenetadze, who is responsible for managing company affairs.
KHOB's common stock is not currently traded on any exchange, and no cash dividends were paid during the fiscal years ended October 31, 2024, and 2023.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the KHOB annual 10-K report dated January 3, 2025. To report an error, please email earnings@qz.com.