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TOFLA MEGALINE INC. (TFLM0.00%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing no revenue for the three months ended January 31, 2025, compared to $21,700 in the same period the previous year. The lack of revenue is attributed to a decline in opportunities.
Operating expenses for the quarter increased to $19,238 from $14,529 in the same quarter of the previous year. This increase is attributed to higher amortization and general and administrative expenses.
The company reported a net loss of $19,238 for the quarter, compared to a net income of $7,171 in the previous year.
For the six months ended January 31, 2025, revenue was $23,000, slightly up from $21,700 in the previous year. Operating expenses for the six months increased to $66,854 from $32,119.
The net loss for the six-month period was $43,854, compared to a net loss of $10,419 in the previous year.
As of January 31, 2025, TOFLA MEGALINE INC. had no cash and a negative working capital of $138,172.
The company used $23,571 in cash for operating activities during the six-month period, due to a net loss and changes in prepaid expenses.
The company did not use cash for investing activities in the current period, compared to $20,000 used in the previous year for intangible assets.
Cash provided by financing activities was $23,571, attributed to proceeds from related party loans.
The filing also discusses changes in management, with Dilip R. Petigara appointed as CEO, CFO, and Secretary on March 5, 2025.
The company continues to evaluate opportunities to expand its strategic focus under new management.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the TOFLA MEGALINE INC. quarterly 10-Q report dated March 17, 2025. To report an error, please email earnings@qz.com.