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OpenLocker Holdings Inc (OLKR+4.50%). has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing a decrease in revenues to $87 from $7,729 in the same quarter the previous year. The decrease is attributed to limited capital and management resources.
Operating expenses for the quarter were $259,253, compared to $128,972 in the same quarter of the previous year. The increase in expenses is primarily due to streamlining of operations.
The company reported a net loss of $281,896 for the quarter, compared to $141,005 in the previous year, with the decline attributed to a lack of sales.
Cash used in operating activities was $35,729, while cash provided by financing activities was $50,000.
OpenLocker had a working capital deficit of $523,193 as of January 31, 2025. The company acknowledges its dependence on additional capital raising opportunities to meet future obligations.
The filing also details the company's strategic plans, including pursuing additional capital raising opportunities, exploring prospective partnering or distribution opportunities, and identifying strategic acquisitions.
The company does not anticipate profitable operations in the near future due to its history of losses and lack of guaranteed ongoing revenue streams.
OpenLocker continues to focus on offering marketing solutions for collegiate and professional sports organizations and athletes through innovative collectibles and membership rewards.
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 March 17, 2025. To report an error, please email earnings@qz.com.