As of September 30, 2024, Mountain Top Properties, Inc. reported total assets of $128,309, a decrease from $157,456 as of December 31, 2023. The company's cash and cash equivalents also saw a significant decline, falling to $366 from $2,500 at the end of 2023. Total liabilities increased to $265,835, up from $238,192 at the end of the previous fiscal year. This resulted in a total stockholders' deficit of $(137,526), worsening from $(80,736) at the end of 2023.
In terms of revenue, the company generated $145 for the three months ended September 30, 2024, a notable increase from $0 for the same period in 2023. However, operating expenses surged to $13,096, compared to $2,953 in the prior year, leading to a net loss of $(12,951) for the quarter, compared to a net loss of $(2,953) in the same period of 2023.
For the nine months ended September 30, 2024, Mountain Top Properties reported total revenues of $145, again up from $0 for the same period in 2023. Operating expenses for this nine-month period were $59,435, significantly higher than $14,937 in the previous year. Consequently, the net loss for the nine months was $(59,290), compared to $(14,937) for the same period in 2023.
The company's working capital deficit also worsened, reaching $(145,026) as of September 30, 2024, compared to $(80,736) at the end of 2023. During the nine months ended September 30, 2024, Mountain Top Properties used $4,634 in cash for operating activities, a stark contrast to $0 in the same period in 2023. The company did receive $2,500 from financing activities during the nine months, compared to $0 in the same period in the previous year.
About MOUNTAIN TOP PROPERTIES, INC.
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