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LMMY (LMMY0.00%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing no revenue generated during the period. This is consistent with the same period in the previous year.
The company reported a net income of $80,129 for the three months ended November 30, 2024, compared to a net loss of $3,573 in the same period the previous year.
Operating expenses for the quarter were $6,981, primarily consisting of depreciation and amortization expenses.
For the six months ended November 30, 2024, LMMY reported a net income of $80,659, compared to a net loss of $15,734 in the same period the previous year.
As of November 30, 2024, LMMY's total assets were $24,854, with liabilities reported as $0.
Cash flows from operating activities for the six months ended November 30, 2024, were $86,538, while cash flows used in financing activities were $(86,538).
LMMY has highlighted the need for additional capital to meet long-term operating requirements and plans to raise funds through equity or debt securities.
The filing also notes a change in ownership on December 6, 2024, with Zhang Shengwu acquiring a controlling interest in the company.
LMMY's management has indicated that the company does not have any off-balance sheet arrangements that could affect its financial condition.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the LMMY quarterly 10-Q report dated January 10, 2025. To report an error, please email earnings@qz.com.