Netcapital (NCPL)2024-09-16 20:48Financial Performance - Revenue decreased approximately 91% year-over-year to $142,227, compared to $1,519,809 in the first quarter of fiscal year 2024[3] - Total funding portal revenues decreased approximately 62% year-over-year to $142,056, compared to $375,856 in the first quarter of fiscal 2024[3] - Operating loss for the first quarter fiscal 2025 was ($2,508,237), an increase of 235% compared to ($749,020) for the same period in the prior year[3] - Net loss for the first quarter fiscal 2025 was ($2,527,170), an increase of 414% compared to a net loss of ($491,655) for the same period in the prior year[3] - Loss per share increased approximately 11% to ($5.10) compared to ($4.61) for the same period in the prior year[3] Cash and Assets - As of July 31, 2024, the Company had cash and cash equivalents of $855,181[4] - Total assets as of July 31, 2024, were $41,440,970, a slight decrease from $41,557,306 as of April 30, 2024[8] Liabilities - Total current liabilities increased to $3,432,517 as of July 31, 2024, compared to $3,116,698 as of April 30, 2024[8] Business Development - The Company announced the launch of a beta version of a secondary trading platform through Templum ATS in July 2024[2] - Netcapital Securities Inc. applied for broker-dealer registration with FINRA to expand revenue opportunities[2]