Q3 Financials Out-first pass Took a Quick Look at the financials , and starting with the Balance sheet....
Source -sedar.com
Looking at the balance sheet first, looks like significant deterioration
Current Assets-Declined significantly from $1,636,787 in December 2023 to $518,901 in September 2024.
Major decrease in cash and cash equivalents ($1,294,346 to $110,693) and accounts receivable ($285,499 to $212,719).
Total Assets-Dropped significantly from $1,883,385 in 2023 to $718,065 in 2024.
Current LiabilitiesIncreased from $1,396,693 to $1,863,761, driven by higher accounts payable and accrued liabilities.
Total Liabilities:Increased from $1,693,679 to $3,179,443.
Shareholders’ Equity (Deficiency):The deficit worsened significantly, from ($189,706) in 2023 to ($2,461,378) in 2024.
What does it mean:
The company has a severe liquidity issue, indicated by the substantial reduction in current assets and cash, combined with rising current liabilities.
The shareholders' equity is now in a significant deficit
The increase in liabilities, particularly in accounts payable and accrued liabilities, highlights mounting financial obligations.
Again, and as always
All imo
for fun anf learning
Not to invest based on what you read here-from anyone
Do your own due diligence
I don't own shares and no intention of buying now
Need sales
need profir
lets look at p&L and cash flow what?