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Xenous Holdings, Inc. has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reveals that Xenous Holdings, Inc. has not generated any revenue since its inception and reported a net loss of $46,049 for the nine months ended December 31, 2024. The company also reported an accumulated deficit of $1,196,015 as of December 31, 2024.
The balance sheet indicates total liabilities of $885,215, with no current assets, resulting in a working capital deficit of $885,215 as of December 31, 2024.
Xenous Holdings, Inc. has been dependent on advances from its majority shareholder, Smartex Investment Ltd., which provided $49,057 during the nine months ended December 31, 2024.
The company has not engaged in any business operations and is classified as a shell company. It is exploring potential business ventures and acquisitions to commence operations.
The filing notes that the company is conducting due diligence on a potential acquisition of a Malaysia-based company involved in the agricultural sector, with the process expected to conclude in the first half of 2025.
Xenous Holdings, Inc. acknowledges substantial doubt about its ability to continue as a going concern, given its financial condition and lack of revenue.
The company reported no changes in its internal control over financial reporting during the quarter. However, its disclosure controls and procedures were deemed ineffective.
There were no legal proceedings, unregistered sales of equity securities, or defaults upon senior securities reported during the period.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Xenous Hldgs Inc quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.