Antiaging Quantum Living Inc. reported significant financial changes in its latest 10-Q filing for the quarter ending December 31, 2024. The company generated revenues of $154,471 for the three months ended December 31, 2024, a substantial increase from $6,299 in the same period the previous year. For the nine months ending December 31, 2024, revenues reached $529,714, compared to $7,499 in the prior year, marking a 6,963% increase. Despite this revenue growth, the company reported a net loss of $129,154 for the quarter and $540,808 for the nine months, which were higher than the losses of $97,090 and $151,196, respectively, in the previous year.
The financial performance reflects a strategic shift in the company's operations, particularly the introduction of online platform technical operation support and maintenance services, which accounted for the majority of the revenue in the current fiscal period. Operating expenses also surged, totaling $348,125 for the quarter and $1,120,531 for the nine months, compared to $102,632 and $157,938 in the previous year. This increase in expenses was attributed to higher rental costs, employee wages, and start-up costs associated with the company's expansion efforts.
Operationally, Antiaging Quantum Living Inc. has made notable changes, including the establishment of several subsidiaries aimed at enhancing its market presence in the Asia-Pacific region. The company has also undergone significant leadership changes, with Barry Wan taking over as CEO and CFO in June 2023. The company’s total assets increased to $1,576,460 as of December 31, 2024, up from $1,012,410 in March 2024, driven by increases in cash, accounts receivable, and advances to suppliers.
The company’s accumulated deficit has grown to $1,230,111, raising concerns about its ability to continue as a going concern. Management has indicated plans to improve profitability and generate sufficient cash flow from operations, as well as to secure additional working capital from shareholders. The company’s working capital improved to $293,921 as of December 31, 2024, compared to a working capital deficit of $647,227 in March 2024, primarily due to the conversion of certain debts into long-term notes payable.
Looking ahead, Antiaging Quantum Living Inc. aims to leverage its recent strategic developments to enhance its operational efficiency and market share. However, the company acknowledges the risks associated with its financial condition and the competitive landscape in which it operates. Management's forward-looking statements emphasize the need for continued focus on cost control and revenue generation to ensure the company's sustainability and growth in the future.
About Antiaging Quantum Living Inc.
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