Vestiage, Inc. reported a net loss of $52,675 for the fiscal year ending December 31, 2024, compared to a net income of $48,929 in the previous year. The company did not generate any revenue during both fiscal periods. Operating expenses decreased to $52,675 from $56,677, attributed to lower professional fees and general administrative costs. The company recognized a gain of $7,748 from the disposal of its subsidiary, Fun Fitness Corporation, in 2023, which was not repeated in 2024, contributing to the overall loss.
The company underwent significant changes in management and structure during the reporting period. Following a change in control in August 2023, Small Cap Compliance, LLC sold shares to Well Profit Holdings Limited, resulting in new appointments to the board of directors. The custodianship that had been in place since May 2022 was terminated, and the company is now focused on seeking potential business combinations, although no definitive agreements have been established.
Operationally, Vestiage has not yet implemented its business plan and is actively searching for merger or acquisition opportunities. The company has not restricted its search to any specific industry or geographic location. As of December 31, 2024, Vestiage had a total of three officers and directors, with plans to expand the management team as capital is raised. The company currently has no cash on hand and a working capital deficit of $110,370, raising concerns about its ability to continue as a going concern.
In terms of market presence, Vestiage's common stock is traded on the OTC Pink Sheets under the symbol "VEST," with approximately 856 shareholders holding a total of 363,578,236 shares. The stock has experienced limited liquidity, with a closing price of $0.0080 per share as of April 10, 2025. The company has not paid any dividends and does not anticipate doing so in the near future, as it aims to utilize available funds for business development.
Looking ahead, Vestiage acknowledges the need to raise additional capital to fund operations and implement its business plan. The management team is aware of the competitive landscape, which includes various entities with greater financial resources and experience in mergers and acquisitions. The company is committed to improving its financial organization and internal controls, with plans to appoint outside directors and establish an audit committee to enhance oversight and compliance.
About Vestiage, Inc.
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