BestGofer Inc. Reports No Revenue and Increased Losses for Quarter Ending February 28, 2025

BestGofer Inc. reported its financial results for the three months ending February 28, 2025, revealing a continued lack of revenue generation. The company recorded no revenue during this period, consistent with the previous fiscal year. Operating expenses increased to $10,800 from $9,517 year-over-year, primarily due to higher general and administrative costs and professional fees. The net loss for the quarter was $10,800, compared to a loss of $9,517 in the same period last year, resulting in a basic and diluted loss per share of $(0.002).

In terms of financial position, BestGofer's total assets remained unchanged at $12,500, consisting solely of advances to vendors. However, total liabilities increased to $121,847 from $111,047, driven by a significant rise in amounts due to related parties, which rose to $61,425 from $16,925. The company's accumulated deficit also widened to $190,453 from $179,653, reflecting ongoing operational challenges and the absence of revenue.

The company has not made any significant strategic developments, such as acquisitions or product launches, during this reporting period. BestGofer continues to rely on funding from related parties to support its operations, with $44,500 received from the company's president in February 2025. This reliance on external funding underscores the company's ongoing liquidity challenges and the need for additional capital to sustain operations and development efforts.

Operationally, BestGofer has not reported any changes in customer counts or user statistics, nor has it indicated any geographic expansion or product adoption rates. The company maintains a consistent employee headcount of 5,880, with no changes reported in its common stock structure. The lack of revenue generation and the increase in liabilities suggest that the company is facing significant operational hurdles as it seeks to establish a viable business model.

Looking ahead, BestGofer's management has acknowledged the uncertainty surrounding its ability to generate revenue in the near term. The company plans to seek additional capital through private placements and public offerings of its common stock to address its liquidity needs. However, the auditors have expressed substantial doubts about the company's ability to continue as a going concern, emphasizing the critical need for successful fundraising and operational execution in the coming months.