Welsis Corp., a company that has recently transitioned from teletherapy services to the cryptocurrency and blockchain industry, has released its Form 10-Q report for the quarter ending March 31, 2025. The report provides a comprehensive overview of the company's financial performance and significant business developments during this period.
Financial Highlights
- Revenue: $0, The company did not generate any revenue during the three and six months ended March 31, 2025, compared to $2,000 in the same period in 2024.
- Gross Profit: $2,000, The company reported a gross profit of $2,000 for the six months ended March 31, 2024, with no gross profit reported for the same period in 2025.
- Operating Expenses: $28,751, Operating expenses increased slightly by $460 for the six months ended March 31, 2025, compared to the same period in 2024.
- Net Income (Loss): $(32,964), The company incurred a net loss of $32,964 for the six months ended March 31, 2025, compared to a net income of $26,711 for the same period in 2024, primarily due to the absence of a gain on debt forgiveness.
- Net Income (Loss) Per Share, Basic and Diluted: $(0.01), The net loss per share for the six months ended March 31, 2025, was $(0.01), compared to a net income per share of $0.01 for the same period in 2024.
Business Highlights
- Business Transition: Welsis Corp. transitioned from providing teletherapy services to entering the cryptocurrency and blockchain industry with the launch of TokenTraders.net, a crypto-exchange site, on September 23, 2024.
- Segment Information: The company now operates in a single reporting segment focused on the cryptocurrency and blockchain industry, with no anticipated operations or revenue sources outside the United States.
- Management Change: On April 1, 2024, Skywest Pinnacle Limited acquired a 73% stake in Welsis Corp., leading to a change in management with Kwok Boon Kit appointed as CEO, Treasurer, Secretary, and Director.
- Operational Focus: The company is currently in the development stage of its cryptocurrency and blockchain operations, with plans to evaluate performance based on net income (loss) as reported in the Statements of Operations.
- Future Outlook: Welsis Corp. anticipates the need for additional capital to meet long-term operating requirements and plans to raise funds through equity or debt securities to support its operations and strategic initiatives.
SEC Filing: