In This Story
RAKR Inc (RAKR0.00%). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing revenue of $143,725, compared to $78,912 in the same quarter the previous year. The increase is attributed to heightened sales activities.
General and administrative expenses for the quarter were $91,651, down from $90,893 in the same quarter of the previous year. This decrease is primarily due to reduced consulting expenses.
The company reported a net loss of $246,815 for the quarter, compared to $193,963 in the previous year, with the loss attributed to operating expenses and interest costs.
Cash used in operating activities was $49,718, while cash used in investing activities was $393,000. Cash provided by financing activities was $442,875.
RAKR had total assets of $280,306 as of September 30, 2024. The company continues to seek additional financing to support its operations and growth initiatives.
The filing also details a share consolidation on a one-for-twenty-five basis effective September 26, 2024, affecting all share and per share amounts.
RAKR does not anticipate cash dividend payments to common stockholders in the near future.
The company identified material weaknesses in its internal controls over financial reporting, including issues related to segregation of duties and related party transactions.
RAKR continues to focus on developing its water production and purification technologies, with ongoing projects in various global locations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the RAKR quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.