Anvi Global Holdings Reports Increased Net Loss and Rising Expenses for Q3 2024

Anvi Global Holdings, Inc. reported a net loss of $46,361 for the three months ended November 30, 2024, slightly higher than the loss of $45,832 recorded in the same period of the previous year. For the nine-month period ending November 30, 2024, the company’s net loss increased to $152,470 from $137,824 in the prior year. The company’s general and administrative expenses for the three months rose to $46,361, a 1.5% increase from $45,832 in the same quarter of 2023. For the nine months, these expenses totaled $152,470, reflecting a marginal increase of 0.39% compared to $151,875 in the previous year.

The company’s financial position showed significant changes, with total current assets increasing to $27,801 as of November 30, 2024, from $14,334 on February 29, 2024. This increase was primarily driven by a rise in cash holdings, which grew to $10,481 from $1,334. However, total liabilities also increased, reaching $2,140,503, up from $1,974,566 in the previous period. The accumulated deficit expanded to $2,171,202, compared to $2,018,732 as of February 29, 2024, indicating ongoing financial challenges.

Anvi Global Holdings is in the process of transitioning into a diversified global holdings company, focusing on sectors such as mining, infrastructure, health services, and aerospace engineering. The company has not yet made any acquisitions or investments but aims to target emerging markets in regions like India, South America, and Africa. The management has outlined plans to enhance shareholder value through strategic investments in companies with strong cash flows and growth potential.

Operationally, the company has maintained a consistent employee headcount, with no significant changes reported. The company continues to rely on advances from its CEO, which amounted to $54,800 in the nine months ending November 30, 2024, compared to $63,535 in the same period of the previous year. The company has also noted a decrease in cash used in operating activities, which fell to $45,653 from $64,347 year-over-year, suggesting improved cash management despite ongoing losses.

Looking ahead, Anvi Global Holdings acknowledges the need for additional capital to support its operational and marketing activities. The company has expressed uncertainty regarding its ability to raise funds through future equity issuances, which could impact its business operations. Management has indicated plans to pursue financing options and implement cost-control measures to mitigate financial risks. However, the company’s ability to execute its business strategy and achieve profitability remains contingent on securing adequate funding and successfully navigating market conditions.