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Lvpai Group Limited (LVPA) has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing indicates that the company had no revenue for the three and nine months ended October 31, 2024, and 2023. Operating expenses were $8,760 for the three months ended October 31, 2024, compared to $11,150 for the same period in 2023.
The company reported a net loss of $8,760 for the three months ended October 31, 2024, compared to a net loss of $11,150 for the same period in 2023. For the nine months ended October 31, 2024, the net loss was $27,080, compared to $33,565 in the previous year.
As of October 31, 2024, Lvpai Group Limited had total liabilities of $132,180, with no reported assets. The company's stockholders' deficit was also $132,180.
Cash flows from operating activities resulted in a net cash usage of $26,280 for the nine months ended October 31, 2024. The company relied on related party loans to finance its operations.
The company has identified material weaknesses in its internal control over financial reporting, including inadequate segregation of duties and insufficient written policies and procedures.
Lvpai Group Limited continues to operate without any revenues and remains dependent on financing activities to meet its financial obligations. The company acknowledges substantial doubt about its ability to continue as a going concern.
The company's management has not identified any material legal proceedings or defaults upon senior securities. No unregistered sales of equity securities were reported during the period.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Lvpai Group Limited quarterly 10-Q report dated November 29, 2024. To report an error, please email earnings@qz.com.