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Moveix Inc (MVXM) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports that the company did not generate any revenue during the quarter. Operating expenses amounted to $13,951, resulting in a net loss of the same amount.
The company's balance sheet reflects total assets of $0 and total liabilities of $173,942 as of September 30, 2024. The accumulated deficit increased to $486,390.
Cash flow from operating activities was negative, with a net cash outflow of $59,477. This was offset by proceeds from related party loans of the same amount, resulting in no change in cash on hand.
The company continues to explore business opportunities, including potential acquisitions or mergers, but has not yet identified a target.
Management acknowledges substantial doubt about the company's ability to continue as a going concern due to insufficient operational cash flow and lack of cash reserves.
Moveix Inc has 87,230,654 shares of common stock and 10,000,000 shares of Series A preferred stock outstanding as of the end of the reporting period.
The company is not involved in any legal proceedings and has no unregistered sales of equity securities to report.
Management has identified material weaknesses in internal control over financial reporting, which remain unaddressed as of the end of the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Moveix Inc quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.