Kheoba Corp. Reports No Revenue and Significant Losses in Latest 10-Q Filing

Kheoba Corp. has reported significant financial challenges in its latest 10-Q filing for the three months ending January 31, 2025. The company generated no revenue during this period, a stark contrast to the $10,300 reported in the same quarter of the previous year. Operating expenses surged to $18,319, up from $6,601 a year earlier, leading to a net loss of $18,319 compared to a net income of $3,699 in the prior year. This decline in financial performance reflects the company's ongoing restructuring efforts and strategic shifts.

The balance sheet as of January 31, 2025, shows total assets of $28,392, a decrease from $36,541 as of October 31, 2024. Current assets fell to $13,051, down from $19,147, while total liabilities decreased significantly to $5,898 from $32,408, primarily due to debt forgiveness agreements totaling $36,680. This forgiveness, which included debts from former director Gaga Gvenetadze and a third party, has been recorded as an increase in additional paid-in capital rather than as a gain in the profit and loss statement.

Strategically, Kheoba Corp. has undergone notable organizational changes, including a transition in leadership from Mr. Gaga Gvenetadze to Mr. Ka Miew Hon, who now serves as President and CEO. This change is expected to bring a new marketing strategy and operational focus as the company aims to develop an online platform for tourism in the Caucasus region and Tenerife, Spain. The company has also incorporated a new entity in Singapore, Khob Pte. Ltd., to facilitate its expansion into the Asia Pacific market.

Operationally, Kheoba Corp. is in the development stage, focusing on software solutions for the travel industry. The company plans to generate revenue through subscriptions for its CRM platform and by offering guided tours. However, as of the latest reporting period, the company has not yet commenced operations that would lead to revenue generation. The company’s employee headcount remains minimal, with only Mr. Ka Miew Hon actively involved in company matters.

Looking ahead, Kheoba Corp. acknowledges the need for additional capital to support its operations and growth plans. Management intends to raise funds through private or public offerings, although there are no assurances regarding the success of these efforts. The company’s ability to continue as a going concern is contingent upon its capacity to implement its business plan effectively and generate sufficient revenue in the future.