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LSEB Creative (LSEB-19.06%) Corp. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing sales of $2,574 compared to no sales in the same quarter the previous year. For the six-month period, sales were $8,856, while there were no sales in the same period the previous year.
Operating expenses for the quarter were $52,773, compared to $59,570 in the same quarter of the previous year. The expenses were primarily attributed to consulting and professional fees, as well as travel expenses.
The company reported a net loss of $49,560 for the quarter, compared to a net loss of $61,341 in the previous year. The ongoing loss was primarily due to consulting expenses, professional fees, and travel expenses.
LSEB Creative has recently launched its e-commerce platform, laurenbentleyswim.com, and received bulk production from its factory in Portugal.
The company has an accumulated deficit of $641,870 as of September 30, 2024, raising substantial doubt about its ability to continue as a going concern.
LSEB Creative is actively seeking financing to support its operations and growth, with plans to raise between $400,000 and $1,000,000.
The company plans to expand its product categories and increase brand awareness through marketing efforts and partnerships with luxury retailers.
LSEB Creative's strategy includes focusing on luxury swimwear, with plans to expand its product line to include beachwear and accessories.
The company aims to achieve $500,000 in net revenues within 12 months following the fiscal quarter end September 30, 2024, primarily from women's swimwear.
LSEB Creative intends to maintain its operations through additional financing, net sales, and potential advances from directors if needed.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the LSEB Creative quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.