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Techcom Inc (TCRI0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that Techcom Inc is a non-operating holding company with no revenue reported for the three and nine months ended September 30, 2024 and 2023.
Professional and administrative expenses for the nine months ended September 30, 2024 were $44,730, compared to $58,008 for the same period in 2023. These expenses were primarily related to daily operations and legal services.
Professional expenses for the nine months ended September 30, 2024 were $38,248, up from $25,277 in the previous year, mainly due to SEC filing preparations.
General and administrative expenses for the nine months ended September 30, 2024 were $6,482, a decrease from $32,731 in the previous year, attributed to reduced management services.
The company reported a net loss of $18,830 for the three months ended September 30, 2024, compared to $11,829 in the same period of 2023.
The balance sheet as of September 30, 2024, shows a stockholders' deficit of $246,661 with an accumulated deficit of $2,666,227.
Techcom Inc is currently seeking to identify operating businesses for potential acquisition, but there is uncertainty regarding the success of this strategy.
The company's financial statements have been prepared assuming it will continue as a going concern, though there is substantial doubt about its ability to do so.
The company has no paid employees as of September 30, 2024, and is dependent on its officers and directors for future business development.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Techcom Inc quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.