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WELSIS CORP. (WLSS+65.88%) has submitted its Form 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a net loss of $24,256 for the quarter, compared to a net loss of $13,264 in the same quarter of the previous year. The increase in net loss is attributed to higher operating expenses.
Revenue for the quarter was $0, down from $2,000 in the same period last year. Operating expenses increased to $22,244 from $14,265.
The company reported a working capital deficiency of $86,663 as of December 31, 2024, compared to a deficiency of $71,696 as of September 30, 2024. This increase is primarily due to higher accounts payable and accrued liabilities.
Cash flows from operating activities resulted in a net cash outflow of $9,289 for the quarter, compared to $8,466 in the previous year. The company financed its operations through the issuance of convertible notes.
WELSIS CORP. continues to face challenges as a going concern, with management planning to raise additional funds through equity or debt offerings to support its operations.
The company has transitioned into the cryptocurrency and blockchain industry, launching TokenTraders.net, a crypto-exchange site allowing users to trade cryptocurrencies.
There were no significant legal proceedings or unregistered sales of equity securities reported during the quarter.
The company has identified no material subsequent events that would impact its financial statements as of the date of the filing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the WELSIS CORP. quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.