NEURALBASE AI LTD. reported no revenue for the first quarter of 2025, consistent with the same period in 2024. The company recorded a net loss of $21,397 for the three months ended March 31, 2025, a significant reduction from the net loss of $37,024 reported in the prior year. Operating expenses decreased to $16,438 from $33,480, primarily due to a reduction in professional fees. The company’s total current liabilities increased slightly to $684,394 from $662,997 at the end of 2024, reflecting ongoing financial challenges.
In terms of operational changes, NEURALBASE AI underwent a significant leadership transition. Following the resignation of former CEO Henry Chang Manayan in March 2023, Charandeep Gopishetty was appointed as the new CEO. However, Gopishetty resigned in May 2024, and Frank Gomez took over as the sole officer and director. The company also entered into an Asset Purchase Agreement to acquire proprietary AI technology known as "Multidoc AI," which allows businesses to create AI assistants for document management. This acquisition involved issuing 9,000,000 shares of Series A Preferred Stock, which grants significant voting control to the seller.
The company’s stockholder deficit increased to $730,394 as of March 31, 2025, compared to $708,997 at the end of 2024. The total number of common shares outstanding rose dramatically to 50,200,183 from 200,183, following the conversion of preferred stock into common stock. This change reflects the company's ongoing efforts to restructure its equity base amid financial difficulties. NEURALBASE AI has accumulated a total deficit of $3,986,754 since its inception, raising concerns about its ability to continue as a going concern.
Looking ahead, NEURALBASE AI acknowledges the need for additional funding to support its operations and growth plans. The company is exploring options for financing through private equity offerings and other means, although it has no firm agreements in place. The management has expressed uncertainty regarding its ability to secure necessary capital, which is critical for sustaining operations and achieving profitability. The company’s financial statements indicate that without sufficient funding, it may be forced to curtail its development plans and operations.
About NEURALBASE AI LTD.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.