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Panamera Holdings Corporation (PHCI0.00%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements showing total revenues of $82,799 for the six months ended January 31, 2025. This includes $74,894 in sales to a related party. No revenues were reported for the same period in the previous year.
The cost of revenues for the six months ended January 31, 2025, was $39,243, with $20,750 attributed to related party transactions. Operating expenses increased to $230,805 from $106,998 in the previous year, primarily due to general and administrative expenses.
The company reported a net loss of $191,076 for the six months ended January 31, 2025, compared to a net loss of $104,639 in the previous year. The increase in net loss is attributed to higher operating expenses.
Cash used in operating activities was $41,287 for the six months ended January 31, 2025. Cash provided by financing activities was $40,000, primarily from the issuance of common stock.
Panamera Holdings Corporation had a working capital deficiency of $343,826 as of January 31, 2025, compared to $217,173 as of July 31, 2024.
The filing notes a material weakness in internal controls over financial reporting due to a lack of segregation of duties and reliance on third-party accounting consulting services.
The company has entered into a Letter of Intent to purchase a 51% interest in a corporation based in Alberta, Canada, for $10,000,000, which may include a combination of cash and stock.
The company discontinued its healthcare consulting operations as of March 29, 2024, to focus on new business opportunities, including environmental services and emerging technologies.
Panamera Holdings Corporation continues to seek additional financing to support its operations and business development plans.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Panamera Holdings Corporation quarterly 10-Q report dated March 13, 2025. To report an error, please email earnings@qz.com.