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LSEB Creative (LSEB0.00%) Corp. has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, reporting sales of $3,272, an increase from $1,915 in the same period the previous year. For the nine months ended December 31, 2024, sales were $12,128, compared to $1,915 for the same period in 2023.
Operating expenses for the quarter were $55,656, up from $29,628 in the previous year. For the nine months ended December 31, 2024, operating expenses were $148,755, compared to $120,405 for the same period in 2023.
The company reported a net loss of $57,877 for the quarter, compared to a net loss of $26,909 in the same quarter of the previous year. For the nine months ended December 31, 2024, the net loss was $145,213, compared to $119,541 for the same period in 2023.
Cash used in operating activities for the nine months ended December 31, 2024, was $108,299, compared to $109,027 for the same period in 2023. Cash provided by financing activities was $104,955, compared to $107,131 in the previous year.
LSEB Creative Corp. highlights its ongoing efforts to raise additional capital to support its operations and growth plans. The company is actively seeking financing to continue its business operations and to meet its liabilities as they come due.
The filing also discusses the company's strategic plans to expand its product offerings and increase market presence, particularly in the luxury swimwear sector. LSEB Creative Corp. aims to enhance brand awareness and customer loyalty through marketing efforts and e-commerce expansion.
The company has expressed substantial doubt about its ability to continue as a going concern due to its accumulated deficit of $699,747 as of December 31, 2024. Management is seeking additional funding to support the company's operations and strategic initiatives.
LSEB Creative Corp. is in the initial stages of planning to uplist to Nasdaq, which it believes will provide increased visibility, access to capital, and improved stock performance. The company is pursuing a capital raise of a minimum of $5 million USD to support this initiative.
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 March 31, 2025. To report an error, please email earnings@qz.com.