Greenpro Capital(US:GRNQ)2025-08-12 13:03PART I. FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS Unaudited condensed consolidated financial statements, including balance sheets, operations, equity, and cash flows, reveal net loss and going concern doubt Condensed Consolidated Balance Sheets The balance sheet shows a slight increase in total assets and total liabilities, while total stockholders' equity decreased from December 31, 2024, to June 30, 2025 Condensed Consolidated Balance Sheet Highlights | Metric | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | Change ($) | Change (%) | | :-------------------------------- | :-------------------------- | :-------------------------- | :--------- | :--------- | | Total Current Assets | $2,897,749 | $2,854,761 | $42,988 | 1.51% | | Total Assets | $6,555,277 | $6,473,923 | $81,354 | 1.26% | | Total Current Liabilities | $1,730,591 | $1,269,400 | $461,191 | 36.33% | | Total Liabilities | $1,739,350 | $1,279,635 | $459,715 | 35.93% | | Total Stockholders' Equity | $4,815,927 | $5,194,288 | $(378,361) | -7.28% | - Cash and cash equivalents decreased by $291,584 from $1,124,818 at December 31, 2024, to $833,234 at June 30, 202512232 - Digital assets increased from $192,398 at December 31, 2024, to $233,778 at June 30, 20251247 Condensed Consolidated Statements of Operations and Comprehensive Loss The Company reported an increased net loss for both the three and six months ended June 30, 2025, compared to the same periods in 2024, with total revenue decreasing for the six-month period while digital revenue emerged Key Financial Performance (Three Months Ended June 30) | Metric | 2025 | 2024 | Change ($) | Change (%) | | :---------------------- | :---------- | :---------- | :--------- | :--------- | | Total Revenue | $427,092 | $361,174 | $65,918 | 18.25% | | Gross Profit | $343,288 | $318,450 | $24,838 | 7.80% | | Loss From Operations | $(601,661) | $(601,620) | $(41) | 0.01% | | Net Loss | $(574,128) | $(565,753) | $(8,375) | 1.48% | | Net Loss Per Share | $(0.07) | $(0.07) | $0.00 | 0.00% | Key Financial Performance (Six Months Ended June 30) | Metric | 2025 | 2024 | Change ($) | Change (%) | | :---------------------- | :------------ | :------------ | :--------- | :--------- | | Total Revenue | $779,847 | $1,019,573 | $(239,726) | -23.51% | | Gross Profit | $602,401 | $895,975 | $(293,574) | -32.77% | | Loss From Operations | $(1,290,594) | $(1,075,333) | $(215,261) | 20.02% | | Net Loss | $(1,209,704) | $(838,663) | $(371,041) | 44.24% | | Net Loss Per Share | $(0.16) | $(0.11) | $(0.05) | 45.45% | - Digital revenue, derived from platform services and trading of digital assets, was $17,921 for the three months and $44,177 for the six months ended June 30, 2025, indicating a new revenue stream compared to $0 in prior year periods15161180 - Service business revenue decreased by $270,312 for the six months ended June 30, 2025, primarily due to fewer listing and non-listing advisory services rendered179184 Condensed Consolidated Statements of Changes in Stockholders' Equity Stockholders' equity decreased for the six months ended June 30, 2025, primarily due to the net loss, despite an increase in common stock from private placements Changes in Stockholders' Equity (Six Months Ended June 30, 2025) | Metric | December 31, 2024 | June 30, 2025 | | :---------------------------- | :---------------- | :------------ | | Common Stock (shares) | 7,575,813 | 8,275,813 | | Common Stock (amount) | $7,576 | $8,276 | | Additional Paid-in Capital | $42,749,831 | $43,509,131 | | Accumulated Deficit | $(37,264,379) | $(38,474,083) | | Total Stockholders' Equity | $5,194,288 | $4,815,927 | - The Company issued 700,000 shares of Common Stock through private placements for total proceeds of $760,000 during the six months ended June 30, 2025, to fund operational expansion19124 Condensed Consolidated Statements of Cash Flows For the six months ended June 30, 2025, the Company experienced significant cash usage from operating activities, partially offset by cash provided by financing activities Cash Flow Summary (Six Months Ended June 30) | Cash Flow Activity | 2025 | 2024 | Change ($) | Change (%) | | :------------------------ | :------------ | :------------ | :----------- | :--------- | | Operating Activities | $(772,674) | $(1,040,865) | $268,191 | -25.77% | | Investing Activities | $39,950 | $209,052 | $(169,102) | -80.89% | | Financing Activities | $477,236 | $(141,904) | $619,140 | 436.31% | | Net Change in Cash | $(291,584) | $(1,033,708) | $740,124 | -71.60% | | Cash, End of Period | $833,234 | $1,189,489 | $(356,255) | -29.95% | - Net cash used in operating activities decreased by 25.77% in 2025 compared to 2024, primarily due to an increase in deferred revenue, despite a higher net loss22236 - Cash provided by financing activities in 2025 was $477,236, mainly from $760,000 in proceeds from common stock issuance, offsetting advances to related parties22240 Notes to Condensed Consolidated Financial Statements These notes provide detailed disclosures on the Company's organization, significant accounting policies, revenue recognition, digital assets, other investments, leases, stockholders' equity, related party transactions, and segment information - The Company incurred a net loss of $1,209,704 and net cash used in operations of $772,674 for the six months ended June 30, 2025, leading to an accumulated deficit of $38,474,083, raising substantial doubt about its ability to continue as a going concern28233 Note 1 - Organization and Summary of Significant Accounting Policies This note outlines Greenpro Capital Corp.'s incorporation, its business segments, and its significant accounting policies, highlighting a 'going concern' issue due to accumulated deficits and net losses - Greenpro Capital Corp. operates three business segments: business consulting and corporate