LAMY Reports 51% Revenue Decline, Achieves Net Income Turnaround for Nine Months Ending February 2025

LAMY, a development-stage corporation focused on providing financial education through an immersive video game platform, reported its financial results for the nine months ending February 28, 2025. The company generated $3,750 in revenue during this period, a decline of 51% compared to $7,750 in the same period last year. In the most recent quarter, LAMY reported no revenue, down from $3,875 in the previous year. Despite the drop in revenue, the company achieved a net income of $54,895 for the nine months, a significant turnaround from a net loss of $20,554 in the prior year, primarily due to other income of $86,739.

Operating expenses for the nine months increased to $35,594, up from $28,304 in the previous year, all attributed to general and administrative costs. The company’s financial position showed total assets of $nil as of February 28, 2025, compared to $27,453 as of May 31, 2024. Total liabilities also stood at $nil, a decrease from $82,348 in the previous fiscal period. The substantial changes in the balance sheet reflect a significant restructuring and a change in control that occurred on December 6, 2024, when Zhang Shengwu acquired a controlling interest in the company.

The change in control did not alter the company's business plan, but it has led to a reevaluation of its operational strategy. LAMY has indicated that it will require additional capital to sustain its operations and pursue its business objectives. The management plans to seek funding through equity or debt financing, although there are no assurances that such capital will be secured. The company has acknowledged that it has not yet established a reliable source of revenue to cover its operating costs, raising concerns about its ability to continue as a going concern.

In terms of operational metrics, LAMY has not reported any significant user statistics or customer counts, reflecting its early-stage development status. The company has maintained a consistent number of shares outstanding at 7,777,000 since its inception. The management has expressed intentions to increase marketing efforts and product development, which may lead to future revenue generation. However, the company remains cautious, emphasizing the need for additional funding to support its growth and operational needs.

Looking ahead, LAMY's management has outlined a plan to raise capital through the sale of equity or debt securities to meet its long-term operating requirements. The company anticipates that its working capital needs will grow in line with its business expansion. However, the lack of a specific funding strategy and the uncertainty surrounding future financing could pose challenges to its operational viability. The management's focus will be on securing the necessary resources to continue its business activities and achieve its strategic goals.