Kinetic Group Inc. Reports Zero Revenue and Continued Net Loss for Fiscal Year Ending September 30, 2024; No Earnings Per Share Due to Lack of Revenue Generation
Kinetic Group Inc. has released its annual report for the fiscal year ending September 30, 2024. The company reported no revenue for the years ended September 30, 2024, and 2023. As a result, the gross income for both years remained at $0. The company's net cash used by operating activities decreased significantly from $13,652 in 2023 to $92 in 2024. There was no cash provided by financing activities in 2024 compared to $100 in the previous year. The major components of expenses showed a slight increase in compensation for officers, rising from $54,000 in 2023 to $56,000 in 2024. However, professional fees decreased from $58,178 in 2023 to $27,621 in 2024. Kinetic Group Inc. did not generate any revenue or income from operations or investments during the reported periods. The company is focused on accessing capital for the complete acquisition of a prospective AI company, for which they signed a Sales and Purchase Agreement (SPA) at the end of November 2023. Additionally, Kinetic Group Inc. is exploring other business opportunities in Panama and Colombia.
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