Quarterly ResultJun 15, 2026, 11:41 AM
Glidelogic Corp. Reports Q1 Net Loss of $27,212; Going Concern Risks Persist
AI Summary
Glidelogic Corp. filed its quarterly report (10-Q) for the period ending April 30, 2026. The company reported a net loss of $27,212, an increase from the previous year's loss of $14,890. Total assets grew to $18,469, while liabilities also increased to $171,593, largely driven by related party loans. The company continues to face significant going concern risks due to its lack of revenue and reliance on external financing.
Key Highlights
- Glidelogic Corp. reported a net loss of $27,212 for the three months ended April 30, 2026, compared to a net loss of $14,890 for the same period in 2025.
- Total assets increased to $18,469 as of April 30, 2026, from $5,196 as of January 31, 2026.
- Total liabilities increased to $171,593 as of April 30, 2026, from $131,108 as of January 31, 2026.
- Cash used in operating activities was $42,804 for the three months ended April 30, 2026.
- Related party loans increased significantly, with total Note Payable to related parties reaching $171,593 as of April 30, 2026.
- The company has substantial doubt about its ability to continue as a going concern due to lack of revenue and reliance on future funding.
Price Impact
More from GDLG