Winvest Group Ltd. reported its financial results for the first quarter of 2025, revealing a significant decline in revenue and an increase in operating losses compared to the same period in 2024. The company generated no revenue for the three months ended March 31, 2025, a decrease from $64,840 in the prior year. This drop is attributed to the conclusion of contracts with key clients, which adversely impacted revenue contributions from its subsidiaries, IQI Media and others. Operating expenses rose to $146,352, up from $97,743 in the previous year, primarily due to increased administrative costs, including legal and audit fees.
The company's net loss for the quarter was $147,946, or $(0.00) per share, compared to a loss of $121,578, or $(0.00) per share, for the same period in 2024. The increase in net loss is linked to higher operating expenses and the absence of revenue. Winvest's accumulated deficit as of March 31, 2025, stood at $105,949,546, reflecting ongoing financial challenges. The company’s total assets increased slightly to $14,749,679 from $14,725,266 at the end of 2024, driven by a rise in cash and prepaid expenses.
In terms of operational metrics, Winvest's cash position improved to $197,215 as of March 31, 2025, compared to $181,522 at the end of 2024. The company reported a net cash outflow from operating activities of $152,382 for the quarter, an increase from $112,686 in the prior year. Financing activities provided $168,075, slightly down from $170,560 in the same quarter of 2024, indicating a reliance on external funding sources, including convertible promissory notes and share issuances.
Strategically, Winvest is exploring various avenues to enhance its financial stability, including seeking additional funding from institutional investors and private placements. The company is also focused on diversifying its funding sources to reduce dependency on affiliate financing. Despite the current financial difficulties, management remains optimistic about future revenue potential and is actively working to unlock new opportunities.
Looking ahead, Winvest Group Ltd. acknowledges the substantial doubt regarding its ability to continue as a going concern, given its history of operating losses and the need for additional capital. The company is committed to addressing its financial challenges and is implementing measures to strengthen its internal controls and operational efficiency. As it navigates these issues, Winvest aims to stabilize its financial position and pursue growth opportunities in the coming quarters.
About Winvest Group Ltd
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