3/5Galaxy Enterprises Inc. /WY/ (GLEI): Going-concern doubt

Market data

n/a: no price data available for GLEI.

Verified excerpt

"The Company has incurred losses since inception resulting in an accumulated deficit of $ 97,757 . For the nine months ended April 30, 2024, the Company incurred a net loss of $ 10,978 and a negative operating cash outflows of $ 90 . Further losses are anticipated in the development of its business raising substantial doubt about the Company's ability to continue as a going concern for a period no less than 12 months..."

Quoted from the filing. Source

What this means

The filing states that substantial doubt exists about the company's ability to continue as a going concern: it may not have enough cash to last the next 12 months. Expect dilution, debt deals or worse. An auditor's going-concern paragraph is the strongest form of this warning.

Source: management disclosure in Form 10-Q (period 2024-04-30)

Why this score: quarterly (unaudited) disclosure