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SUIC Worldwide Holdings Ltd (SUIC0.00%) 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 $30,000, consistent with the same quarter the previous year. Revenue for the nine months ended September 30, 2024, was $90,000, down from $120,000 in the same period in 2023.
Operating expenses for the quarter were $20,159, compared to $23,382 in the previous year. The decrease was primarily due to lower costs of services.
The company reported a net income of $4,599 for the quarter, compared to $5,799 in the previous year. For the nine months ended September 30, 2024, net income was $26,397, down from $53,042 in the previous year.
Cash provided by financing activities was $18,063 for the nine months ended September 30, 2024, primarily from related party loans and the issuance of new shares.
SUIC Worldwide Holdings Ltd had a working capital surplus of $208,730 as of September 30, 2024. The company acknowledges its dependence on generating sales and obtaining additional financial resources to continue operations.
The filing also discusses the company's focus on IT, cloud computing, mobile payments, Big Data, Blockchain, and AI. SUIC is exploring new business ventures in fintech, food industry supply chain integration, and global chain and franchise expansion.
The company did not report any legal proceedings, unregistered sales of equity securities, or defaults upon senior securities during the quarter.
SUIC Worldwide Holdings Ltd identified no changes in its internal controls over financial reporting that materially affected its financial reporting during the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SUIC Worldwide Holdings Ltd quarterly 10-Q report dated January 31, 2025. To report an error, please email earnings@qz.com.