Rest EZ, Inc. Reports Reduced Net Loss of $33 for Quarter Ended June 30, 2024

Rest EZ, Inc. reported its financial results for the three months ended June 30, 2024, revealing a net loss of $33, a significant reduction from the net loss of $5,784 recorded during the same period in 2023. The company did not generate any revenue in either quarter, maintaining a gross profit of $0. Operating expenses decreased to $33 from $3,710 year-over-year, primarily due to a reduction in general and administrative costs. The interest expense, which was previously $2,074, was eliminated in the latest quarter, contributing to the improved financial performance.

The company has not made any significant changes to its operational structure or product offerings during this reporting period. Rest EZ, Inc. continues to focus on its sole product, the Rest EZ Sleep Aid Supplement, which is manufactured by an unaffiliated provider, Sport Energy. The company has not yet distributed this product to any customers, despite being in full production and distribution mode. As of June 30, 2024, the company reported an accumulated deficit of $321,612, reflecting ongoing challenges in achieving profitability.

In terms of operational metrics, Rest EZ, Inc. has maintained a consistent number of shares outstanding at 20 million. The company has not reported any changes in customer counts or user statistics, as it has yet to make sales of its product. The lack of revenue generation raises concerns about the company's market position and ability to capture market share in the competitive dietary supplement industry. The company’s cash and cash equivalents were reported at $0, indicating a critical liquidity position.

Management has expressed concerns regarding the company's ability to continue as a going concern, citing the need for additional capital to sustain operations. The company is exploring investment opportunities and financing options to support its business plan. The financial statements indicate that without further capital, Rest EZ, Inc. may struggle to remain operational. The company’s future success is heavily dependent on its ability to generate revenue from its product and secure necessary funding.

Looking ahead, Rest EZ, Inc. plans to enhance its marketing efforts and expand its distribution channels to wholesalers and retailers. The company aims to build its reputation and increase sales through direct marketing strategies. However, the management acknowledges that achieving these objectives will require overcoming significant financial and operational hurdles, including the need for effective internal controls and a more robust financial structure.