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Stark Focus Group Inc (SKFG0.00%). has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing no revenue generated and a net loss of $6,341 compared to a net loss of $1,727 in the same quarter the previous year.
General and administrative expenses increased to $5,136 from $1,334 in the same quarter of the previous year.
Net cash used in operating activities for the nine months ended September 30, 2024 was $31,008, compared to $24,183 in the previous year.
The company reported total liabilities of $127,203 as of September 30, 2024, compared to $93,463 as of December 31, 2023.
Stark Focus Group had a stockholders' deficit of $127,203 as of September 30, 2024, compared to $93,463 as of December 31, 2023.
The company anticipates needing $60,000 for operations over the next 12 months and plans to rely on equity sales and loans for funding.
The filing also details that Stark Focus Group does not have any off-balance sheet arrangements or material subsequent events to disclose.
Management has concluded that the company's disclosure controls and procedures were not effective as of September 30, 2024, due to inadequate personnel and insufficient segregation of duties.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Stark Focus Group Inc Com quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.