Ankam, Inc. reported significant financial improvements in its latest 10-Q filing for the quarter ending May 31, 2025. The company generated revenue of $165,000 for the three months ended May 31, 2025, a substantial increase from $15,385 in the same period last year. For the six months ending May 31, 2025, revenue reached $240,000, compared to $25,145 for the same period in 2024. The company also reported a net profit of $55,687 for the latest quarter, a turnaround from a net loss of $71,828 in the prior year. For the six-month period, Ankam recorded a net profit of $45,106, compared to a loss of $190,542 in the previous year.
The financial performance reflects a strategic shift in operations and cost management. Total operating expenses for the three months ended May 31, 2025, were $46,313, significantly lower than the $87,213 reported in the same quarter of 2024. This reduction was attributed to decreased general and administrative expenses, elimination of director fees, and lower server expenses. The company’s accumulated deficit also decreased to $452,633 as of May 31, 2025, down from $497,739 at the end of November 2024, indicating improved financial health.
Ankam, Inc. has made notable strategic developments, including the establishment of a wholly-owned subsidiary, Ankam LLC, which took over operations related to the MoneySaverApp. Additionally, the company acquired Apex Intelligence LLC, enhancing its portfolio with a currency converter service. The company is also focusing on expanding its market presence in Asia through the newly formed Mei Sheng Corporation Limited, which aims to develop a health products sales platform in collaboration with a Taiwanese company.
Operationally, Ankam reported a total asset increase to $370,704 as of May 31, 2025, compared to $178,708 at the end of November 2024. The company’s cash position improved significantly, with cash on hand rising to $134,669 from $1,069. However, total liabilities also increased to $649,707, primarily due to advances from the company’s director. The company’s employee headcount remains stable, with no significant changes reported.
Looking ahead, Ankam, Inc. acknowledges the need for additional capital to sustain its operations and growth. Management plans to seek further equity financing and enhance revenue generation from its business activities. While the company has begun to achieve profitability, it remains cautious about future financial performance, emphasizing the importance of securing funding to support ongoing development and expansion efforts.
About Ankam, Inc.
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