Glidelogic Corp. Reports Revenue Increase to $77,000 but Faces Larger Net Loss

Glidelogic Corp. reported a significant increase in revenue for the three months ending April 30, 2025, generating $77,000 compared to $32,000 during the same period in 2024. Despite this growth, the company recorded a net loss of $14,890, which is an increase from the $6,859 loss reported in the prior year. The rise in revenue was attributed to the company's focus on its AI solutions, particularly the ResearchMind platform, which has begun to generate sales through beta-testing partnerships. However, the increase in operating expenses, which rose to $14,967 from $6,891, contributed to the larger net loss.

In terms of financial position, Glidelogic's total assets increased to $16,207,000 as of April 30, 2025, up from $5,020,000 at the end of January 2025. This growth was primarily driven by an increase in current assets, which rose to $13,399,000, largely due to a rise in prepaid expenses. Conversely, total liabilities also increased significantly to $63,611,000, primarily due to a rise in accounts payable and related party loans. The company's stockholders' equity remained negative at $(47,404,000), reflecting ongoing financial challenges.

Strategically, Glidelogic has made notable changes, including a relocation of its principal executive office from California to Nevada, effective May 1, 2025. This move is expected to optimize operational efficiency and potentially reduce state-level tax obligations. The company is also transitioning its focus towards consulting services for cross-border e-commerce payment providers and custom software development, which aligns with its broader strategy to enhance revenue generation. Additionally, Glidelogic has advanced from OTC PINK to OTCQB, which is anticipated to improve market visibility and investor confidence.

Operationally, Glidelogic's employee count remains low, with only two employees overseeing day-to-day operations. The company has not yet expanded its workforce but plans to hire as needed. The filing indicates that Glidelogic is heavily reliant on loans from its controlling shareholders to fund operations, with total related party loans amounting to $48,686,000 as of April 30, 2025. The company has also issued 5,600 shares of common stock as service shares, which reflects its ongoing efforts to manage equity and incentivize performance.

Looking ahead, Glidelogic's management has expressed concerns regarding its ability to continue as a going concern without additional investment capital. The company is actively seeking to raise funds through capital markets to support its operations and strategic initiatives. While the recent uptick in revenue is a positive sign, the company acknowledges the need for a stabilized source of revenue to cover operating costs in the long term.