Atlantica, Inc. has reported its financial results for the first quarter of 2025, revealing a net loss of $92,850, a decrease from the net loss of $142,119 recorded in the same period of 2024. The company reported no revenues for the quarter, consistent with its ongoing status as a shell company with no significant operations since 1997. General and administrative expenses were reduced to $45,756 from $100,791 year-over-year, primarily due to lower accounting, management, and legal fees.
The company's total liabilities as of March 31, 2025, stood at $5,740,680, a slight increase from $5,647,830 at the end of 2024. The increase in liabilities was driven by a rise in accounts payable and interest payable to related parties. Notably, the company’s accumulated deficit grew to $5,866,382 from $5,773,532, reflecting ongoing operational challenges and the lack of revenue generation.
In terms of operational developments, Atlantica continues to rely on its majority shareholder, Mirabella Holdings, LLC, for financial support. During the first quarter of 2025, Mirabella provided $38,125 to cover operating expenses, compared to $31,386 in the same quarter of the previous year. The company has accrued interest expenses related to these loans, which amounted to $47,094 for the quarter, up from $41,328 in 2024. The total outstanding loans from Mirabella reached $800,532 as of March 31, 2025.
Looking ahead, Atlantica's management has indicated a plan to seek potential acquisitions or mergers with existing operating companies. The company remains focused on identifying suitable business opportunities across various industries, including technology, manufacturing, and finance. However, the company has acknowledged that it currently lacks the cash resources necessary to cover its administrative expenses for the next 12 months, which may necessitate further loans from Mirabella or other financing arrangements.
Overall, Atlantica, Inc. continues to navigate a challenging financial landscape with no current operations and a reliance on external funding. The company’s future will depend on its ability to secure a viable business opportunity and stabilize its financial position.
About ATLANTICA INC
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