SEATech Ventures Corp., a company specializing in business mentoring and corporate development advisory services within the ICT industry, has released its Form 10-Q report for the first quarter of 2024. The report highlights the company's financial and operational performance for the three months ended March 31, 2024.
Financial Highlights
- Revenue: $0, compared to $148,000 in the same period in 2023, due to no revenue deals during the period.
- Gross Profit: $0, compared to $32,000 in the same period in 2023, reflecting the absence of revenue.
- Net Loss: $43,565, compared to a net loss of $7,405 in the same period in 2023. The losses are mainly derived from general and administrative expenses.
- Net Loss Per Share: $(0.00), for both the three months ended March 31, 2024, and 2023, reflecting the company's net loss position.
Business Highlights
- Revenue Segments: The company did not generate any revenue for the three months ended March 31, 2024, compared to $148,000 in the same period in 2023. This decrease is attributed to the absence of revenue deals during the period.
- Geographical Performance: The company operates through its subsidiaries in Malaysia and Hong Kong, with the primary focus on providing business mentoring and corporate development advisory services in the ICT industry.
- Future Outlook: The company anticipates increased levels of operating activities going forward, which are expected to result in more significant cash flows. The management is focused on improving profitability and securing financial support to meet obligations.
SEC Filing: