Free Flow USA, Inc. reported its financial performance for the nine months ended September 30, 2024, reflecting notable changes compared to the same period in 2023. The company recognized revenue of $6,123, an increase of $2,091 from $4,032 in the prior year. This growth is attributed to the company's strategic shift towards international sales of scrap metal through its subsidiary, Motors & Metals, Inc., following the sale of a 19+ acre facility in March 2024.

The cost of goods sold decreased significantly by $11,786, contributing to a gross profit of $2,339, a substantial recovery from a gross loss of $11,539 reported in the same period last year. However, operational expenses rose sharply to $428,941 from $93,821, primarily due to increased professional and financial expenses. Despite these rising costs, the company achieved a net gain of $812,683, a turnaround from a net loss of $71,065 in the previous year, largely due to the aforementioned property sale.

As of September 30, 2024, Free Flow's total current assets stood at $381,121, with cash reserves of $34,289 and trade receivables of $6,680. The company also reported a receivable from the IRS amounting to $32,730 and notes receivable of $300,000. Cumulatively, the company has recognized gross revenues of $2,924,181 since its inception.

The company has faced challenges, including cumulative net losses of $1,052,419 since its inception, raising concerns about its ability to continue as a going concern. Management believes that ongoing trading activities will help recover expenses. Additionally, the company has acknowledged a lack of accounting staff and plans to recruit gradually while establishing a well-documented accounting policy.

In terms of corporate governance, Mr. Ravinder Tikoo, M.D., was appointed as Chairman of the Board of Directors on August 26, 2024. The company has also made significant changes to its capital structure, with total common shares issued and outstanding reaching 30,000,000 as of September 30, 2024, following various transactions throughout the reporting period.

Overall, Free Flow USA, Inc. is navigating a transitional phase, focusing on new revenue streams while managing operational challenges and restructuring its financial framework.