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WarpSpeed Taxi Inc Com has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing includes financial statements for the quarter, showing total assets of $250,631, compared to $237,162 as of July 31, 2024. Current liabilities increased to $110,975 from $81,265 in the previous period.
The company reported a net loss of $16,241 for the six months ended January 31, 2025, compared to a net loss of $10,156 for the same period in the previous year. The losses are attributed to general and administrative expenses.
Cash used in operating activities for the six-month period was $13,469, with a net cash decrease of $31. The company had $8 in cash at the end of the period.
WarpSpeed Taxi Inc Com is a development stage company working on a ride-hailing and food delivery application. The company transferred its interest in the WarpSpeed Taxi application to a private company in settlement of a debt but retained a license for exclusive use in the United States.
The company acknowledges substantial doubt about its ability to continue as a going concern due to accumulated deficits and anticipates the need to raise capital within the next twelve months.
Management has assessed the effectiveness of internal control over financial reporting as of January 31, 2025, and concluded that it is not effective.
There have been no significant changes in the company's internal control over financial reporting during the first quarter of the 2025 fiscal year.
WarpSpeed Taxi Inc Com does not have any off-balance sheet arrangements that may affect its financial condition.
The company did not generate any revenue during the reporting period and plans to finance future operations through the sale of equity or debt securities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Warpspeed Taxi Inc Com quarterly 10-Q report dated March 12, 2025. To report an error, please email earnings@qz.com.