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Zhanling International Ltd (ZLME) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the quarter, showing no revenue for the period. The company reported a net loss of $10,596 for the three months ended November 30, 2024, and a net loss of $16,566 for the six months ended November 30, 2024.
Total assets as of November 30, 2024, were $8,763, with total liabilities amounting to $33,703. Stockholders' deficit was reported at $24,940.
The company has identified a material weakness in its internal controls over financial reporting, specifically inadequate segregation of duties.
Zhanling International Ltd is a development-stage company with no operations or revenues. The company is focused on targeting and completing a merger or acquisition with a private entity.
The company continues to face substantial doubt about its ability to continue as a going concern due to its financial condition and lack of revenue.
Management plans to seek additional capital through private placements or director loans to support its operations.
The filing notes that there have been no significant changes in internal controls over financial reporting during the quarter.
The company reported no legal proceedings or defaults upon senior securities 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 Zhanling International Ltd quarterly 10-Q report dated January 7, 2025. To report an error, please email earnings@qz.com.