Luduson G Inc. reported a significant decline in financial performance for the first quarter of 2025, with revenues dropping to $0 compared to $1.5 million in the same period last year. The company incurred a net loss of $3,524 for the quarter, a stark contrast to the net income of $1,463,422 reported in the first quarter of 2024. General and administrative expenses decreased to $3,524 from $4,943 year-over-year, but the absence of revenue led to a gross profit of $0, down from $1.5 million in the previous year.
The company's total assets remained unchanged at $12,055 as of March 31, 2025, while total liabilities increased to $104,382 from $100,858 at the end of 2024. Luduson G's accumulated deficit also widened slightly to $22,786,438 from $22,782,914. The company maintained its share structure, with 563,466,410 common shares issued and outstanding, and 2,500,000 warrants exercisable, consistent with the previous quarter.
Strategically, Luduson G has undergone significant organizational changes, including the completion of a reverse takeover of Glamourous Group Holding Limited in July 2023. This acquisition was aimed at enhancing the company's market position in the entertainment sector, particularly in the Greater China region. The company has also launched a collaboration in the field of Pixel Art, which is projected to be valued at $250 million, indicating a focus on innovative ventures to drive future growth.
Despite these strategic initiatives, the company has faced challenges, including the cessation of operations in Malaysia and the resulting impact on revenue generation. The management has indicated that it is refining its restructuring plan to optimize operations and enhance strategic initiatives. Looking ahead, Luduson G anticipates needing approximately $1.5 million to implement its revised business plan over the next 12 months, as it seeks to navigate the current economic landscape and capitalize on new opportunities.
About Luduson G Inc.
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