Guochun International Reports No Revenue and Increased Operating Losses for Q3 and Nine Months Ended September 30, 2024

Guochun International Inc. reported its financial results for the three and nine months ended September 30, 2024, revealing no revenue generation during these periods. The company incurred an operating loss of $6,844 for the third quarter of 2024, compared to a loss of $6,194 in the same quarter of 2023. For the nine-month period, the operating loss increased to $23,941 from $17,553 year-over-year. The rise in losses is attributed primarily to higher professional fees, which constituted a significant portion of the operating expenses.

The company's total operating expenses for the third quarter of 2024 were $6,844, slightly higher than the $6,194 reported in the same quarter of the previous year. For the nine months ended September 30, 2024, total operating expenses reached $23,941, compared to $17,553 for the same period in 2023. The increase in expenses reflects the company's ongoing costs without any corresponding revenue, as it continues to seek new business opportunities following a strategic shift in management and operations in June 2022.

As of September 30, 2024, Guochun International had no cash and cash equivalents, resulting in negative working capital of $51,968. The company has maintained a consistent share count of 3,870,600 shares of common stock since its last reporting period. The lack of revenue and the ongoing losses raise substantial doubt about the company's ability to continue as a going concern, as it relies on external financing to cover operational costs.

In terms of operational developments, Guochun has not made any new business acquisitions since the management change in 2022. The company is actively searching for potential business opportunities to acquire, but no significant progress has been reported. The management has indicated that it plans to implement measures to enhance internal controls and financial reporting processes, which include appointing outside directors and establishing an audit committee.

Looking ahead, Guochun International anticipates that it will need to secure additional investment capital to fund its operations in the near future. The management's outlook remains cautious, as there is no assurance that the company will successfully identify and acquire a viable business opportunity or achieve financial stability. The company continues to monitor its financial condition closely and is preparing for potential changes in its operational strategy as it seeks to navigate its current challenges.