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Transuite Org Incorporation Com (TRSO0.00%) has submitted its 10-K filing for the fiscal year ended November 30, 2024.
The filing details the company's operations as an online translation service provider and its strategic expansion into AI-driven solutions. The company aims to integrate advanced AI translation systems, innovative AI applications, and intelligent device management platforms.
For the fiscal year ended November 30, 2024, Transuite Org reported no revenues, compared to $59,003 in the previous year. The absence of revenue is attributed to the company's focus on reorganization and development of new products and services.
The company incurred a net loss of $369,101 for the year ended November 30, 2024, compared to a net loss of $14,819 in the previous year. The increase in net loss is due to higher operating expenses, which rose to $363,584 from $48,045.
Operating expenses increased primarily due to server lease expenses, audit fees, consulting fees, listing fees, legal fees, and bad debt expenses.
Transuite Org had a working capital deficiency of $172,565 as of November 30, 2024, up from $37,322 in the previous year. The increase is attributed to a decrease in cash and prepaid expenses and an increase in accounts payable and accrued liabilities.
Cash used in operating activities was $191,882 for the year ended November 30, 2024, compared to $114,334 in the previous year. The company did not engage in investing activities during the fiscal year.
Transuite Org's management plans to finance operating costs over the next twelve months through existing cash, loans from related parties, and potential public or private offerings.
The company acknowledges substantial doubt about its ability to continue as a going concern due to its accumulated deficit and negative operating cash flow.
Transuite Org's financial statements have been audited by JP Centurion & Partners PLT, who issued an opinion on the company's financial position, noting the going concern uncertainty.
The filing also reports changes in the company's executive team and board of directors, with new appointments made in 2024.
Transuite Org does not anticipate paying dividends in the foreseeable future and has no equity compensation or stock option plans in place.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Transuite Org Incorporation Com annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.