Quest Water Global, Inc. has reported its financial results for the first quarter of 2025, revealing a net loss of $141,305, a significant improvement compared to a net loss of $332,310 during the same period in 2024. The company's total expenses for the quarter decreased to $141,305 from $332,310, primarily due to a reduction in stock-based compensation, which was not incurred in the current quarter, compared to $187,355 in the previous year. The loss per share for the quarter was $0.001, compared to $0.003 in the prior year.
In terms of financial position, Quest Water's total assets increased to $29,721 as of March 31, 2025, from $1,533 at the end of 2024. This increase was driven by a rise in prepaid expenses and amounts due from related companies. However, the company continues to face a working capital deficiency of $2,546,507, with $2,494,803 owed to its principal shareholders. The accumulated deficit has also grown to $12,734,301 from $12,592,996 at the end of 2024.
Operationally, the company has maintained its employee headcount at 131,903,029 shares of common stock outstanding, unchanged from the previous period. The company incurred management fees of $123,750, consistent with the prior year, indicating stable management costs. Additionally, the company has not reported any significant changes in customer counts or user statistics, nor has it launched new products or made acquisitions during this quarter.
The filing indicates that Quest Water Global is reliant on continued financial support from its shareholders and the ability to secure necessary equity financing to sustain its operations. The company has expressed that its future viability is contingent upon achieving profitable operations and addressing its working capital deficiency. Management has indicated that it will continue to seek additional capital financing to support its business development efforts.
Looking ahead, the company remains focused on its mission to provide innovative water solutions in water-scarce regions. However, the substantial doubt regarding its ability to continue as a going concern remains a critical factor, as highlighted in the financial statements. The management's outlook emphasizes the need for strategic financial planning and operational adjustments to navigate the challenges ahead.
About Quest Water Global, Inc.
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