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NELR (NELR) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $7,800, an increase from $4,800 in the same quarter the previous year. The cost of goods sold for the quarter was $1,581.
Operating expenses for the quarter were $11,228, up from $6,217 the previous year, primarily due to higher general and administrative expenses.
The company reported a net loss of $5,009 for the quarter, compared to a net loss of $1,417 in the previous year.
For the six months ended December 31, 2024, NELR generated $7,800 in revenue, down from $17,600 in the same period the previous year. The decrease in revenue is attributed to the company being in the negotiation stage with potential customers.
Operating expenses for the six-month period were $15,814, compared to $14,137 in the previous year, with the increase mainly due to higher general and administrative expenses.
The company reported a net loss of $9,595 for the six-month period, compared to $1,417 in the previous year.
As of December 31, 2024, NELR's total assets were $79,000, consisting of cash, prepaid expenses, and intangible assets, while total liabilities were $88,250.
The company highlighted its dependence on additional investment capital to fund operating expenses and noted a substantial doubt about its ability to continue as a going concern.
NELR's financial statements have been prepared assuming the company will continue as a going concern, and they do not include adjustments that might be necessary if the company is unable to continue operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the NELR quarterly 10-Q report dated February 11, 2025. To report an error, please email earnings@qz.com.