In This Story
OpenLocker Holdings Inc (OLKR0.00%). has submitted its 10-Q filing for the quarterly period ended October 31, 2024.
The filing includes financial statements for the quarter, indicating a decrease in revenues to $39 from $2,581 in the same quarter the previous year. The decrease is attributed to limited capital and management resources.
Operating expenses for the quarter were $21,714, compared to $473,163 in the same quarter of the previous year. The reduction in expenses was due to streamlining operations.
The company reported a net loss of $53,253 for the quarter, compared to $471,973 in the previous year. The decrease in net loss is attributed to reduced sales.
Cash used in operating activities was $4,381, while there was no cash provided by financing activities during the quarter.
OpenLocker had cash on hand of $389 as of October 31, 2024. The company acknowledges its dependence on raising additional capital to continue operations.
The filing also details the company's strategic plans, including pursuing additional capital, exploring partnerships, and identifying market opportunities.
OpenLocker has identified significant doubt about its ability to continue as a going concern due to ongoing losses and limited cash reserves.
The company continues to focus on offering marketing solutions for sports organizations and athletes, with revenue models including sales, sponsorships, and service fees.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the OpenLocker Holdings Inc quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.