For the first quarter ended March 31, 2025, Two Hands Corporation reported zero revenue from its historical segments. This marks a stark contrast to the $163,477 in sales generated in the same period of 2024.
The company posted a net loss of $330,432 for Q1 2025, alongside negative operating cash flow of $198,079. Total operating expenses for the quarter were $257,069, including $99,000 in professional fees for exploring new business ventures.
As of March 31, 2025, the company held only $2,752 in cash and reported a stockholders deficit of $3.90 million, with an accumulated deficit of $94.85 million. Total current liabilities stood at $3.94 million, resulting in a working capital deficiency of $3.91 million.
Management highlighted substantial doubt about the company's ability to continue operations for the next year, citing a going concern warning. The company's disclosure controls and procedures were also deemed ineffective due to material weaknesses.
Funding is currently reliant on cash advances from related parties, and a primary lender ceased providing funds commencing in 2025. The company estimates needing approximately $300,000 in cash over the next 12 months for operations and business plan implementation.
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