Rapid Line Inc. Reports Net Income Turnaround and Change in Control

Rapid Line Inc. has reported its financial results for the three months ending April 30, 2025, revealing a net income of $98,283, a significant turnaround from a net loss of $19,622 during the same period in 2024. This positive outcome was primarily driven by the forgiveness of $114,731 in debt, which offset the company's operating expenses of $16,448. Notably, the company has not generated any revenue during this period, consistent with its previous fiscal performance.

The company's balance sheet reflects total assets of $30,456 as of April 30, 2025, a decrease from $32,541 reported at the end of January 2025. The decline in assets is attributed to an increase in accumulated depreciation on non-current intangible assets, which decreased from $32,452 to $30,402. Rapid Line's current liabilities have been eliminated, as the company reported no outstanding debts following the debt forgiveness by its former director, Wiktor Moroz.

In terms of strategic developments, a change in control occurred on March 18, 2025, when Jiang Jian acquired 2,500,000 shares from Moroz, representing approximately 68.82% of the company's common stock. This acquisition resulted in Jian being appointed as the new Sole Director and CEO, succeeding Moroz. The company continues to operate in the development stage, focusing on online education, but has yet to launch any products or generate revenue.

Operationally, Rapid Line has maintained a consistent employee structure, with no additional personnel beyond its officer and director. The company has not reported any customer counts or user statistics, as it remains in the early stages of its business model. The total number of shares outstanding has remained stable at 3,632,750 since January 2023. The company’s cash position has also been affected, with cash and equivalents dropping to zero by the end of the reporting period, down from $106 at the beginning of the quarter.

Looking ahead, Rapid Line Inc. acknowledges the need for additional capital to support its operations and growth strategy. The management plans to raise funds through private or public offerings, although there are no specific arrangements in place at this time. The company emphasizes the importance of generating sufficient revenue to ensure its long-term viability, as it has not yet established a revenue stream. The outlook remains cautious, with management recognizing the challenges of securing financing and the necessity of implementing its business plan effectively.