In This Story
Vestiage Inc (VEST0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that Vestiage Inc did not generate any revenue for the three and nine months ended September 30, 2024 and 2023.
Operating expenses for the three months ended September 30, 2024 were $9,967 compared to $10,132 for the same period in the previous year. For the nine months ended September 30, 2024, operating expenses were $36,851 compared to $46,323 for the same period in 2023.
The company reported a net loss of $9,967 for the three months ended September 30, 2024, compared to a net loss of $10,132 for the same period in 2023. For the nine months ended September 30, 2024, the net loss was $36,851 compared to $46,323 in 2023.
Vestiage Inc had no cash as of September 30, 2024, and reported a working capital deficit of $94,546.
The company disclosed that it has not generated any revenues from operations and may be unable to fund ongoing activities without additional capital.
Vestiage Inc's related parties have advanced working capital to pay for expenses, with outstanding amounts due to related parties totaling $80,241 as of September 30, 2024.
The filing also notes that there were no investing activities during the nine months ended September 30, 2024 and 2023.
Net cash provided by financing activities was $23,399 for the nine months ended September 30, 2024, with advances from related parties for working capital purposes.
The company has not identified any off-balance sheet arrangements.
Vestiage Inc's management has acknowledged a material weakness in internal control over financial reporting related to segregation of duties.
The company continues to evaluate avenues for mitigating internal control weaknesses but has deemed complete mitigation impractical due to its limited staff size.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Vestiage Inc quarterly 10-Q report dated November 14, 2024. To report an error, please email earnings@qz.com.