In This Story
Vivic Corp (VIVC-2.83%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing no revenue for the three months ended December 31, 2024, compared to $809,899 in the same quarter the previous year. The lack of revenue is attributed to the absence of yacht sales during the period.
General and administrative expenses increased to $329,402 from $137,654 in the previous year, primarily due to increased professional fees and subcontract labor fees.
The company reported a net loss of $962,685 for the quarter, compared to a net loss of $33,017 in the previous year, with the decline attributed to increased operating expenses and lack of revenue.
Net cash used in operating activities was $443,287 for the six months ended December 31, 2024, compared to $235,490 in the previous year, reflecting increased operating expenses.
Vivic Corp had cash and cash equivalents of $53,616 as of December 31, 2024, with a working capital of approximately $3.2 million.
The filing notes the company's dependence on financial support from related parties and potential loans or investments to sustain operations.
Vivic Corp continues to focus on expanding its yacht sales and service operations in Taiwan and other selected regions, while also exploring new business opportunities in the marine industry.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Vivic Corp quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.