The Marquie Group Reports No Revenue and Increased Losses for Six Months Ended November 30, 2024

The Marquie Group, Inc. reported no net revenues for the three and six months ended November 30, 2024, consistent with the same periods in the previous year. The company continues to face financial challenges, posting a net loss of $155,374 for the three months and $360,318 for the six months, compared to a loss of $134,116 and a net income of $218,966, respectively, in the same periods of 2023. Operating expenses decreased significantly from $166,765 to $64,714 for the three months and from $244,308 to $125,354 for the six months, primarily due to reduced professional fees and other administrative costs.

The company’s balance sheet as of November 30, 2024, shows total assets of $6,247,194, a slight increase from $6,247,137 at the end of the previous fiscal period. Current liabilities rose to $6,391,076 from $6,030,701, driven by increases in accrued interest payable and consulting fees. The accumulated deficit has grown to $15,223,804, reflecting ongoing operational losses. The company’s stockholders' equity has shifted to a deficit of $143,882, down from a positive equity of $216,436 in May 2024.

Strategically, The Marquie Group has focused on its health and beauty segment, particularly through its Simply Whim brand, which aims to provide innovative beauty products. The company has not reported any significant revenue from this segment yet, but it anticipates future growth driven by rising demand for safer beauty options. The company is also exploring additional equity financing to support its operations, as indicated by its recent Standby Equity Financing Agreement with MacRab, LLC, which allows for the purchase of up to $1.25 million in common stock.

Operationally, the company has maintained a consistent employee headcount, with salaries and consulting fees remaining unchanged at $60,000 for the three months ended November 30, 2024, compared to the same period in 2023. The company has not reported any significant changes in customer counts or user statistics, and it continues to evaluate its market position and potential for geographic expansion. The Marquie Group's management has expressed concerns regarding its ability to continue as a going concern, citing negative working capital and the need for additional financing to sustain operations.

Looking ahead, The Marquie Group anticipates continued losses in the upcoming fiscal year, with management emphasizing the need for increased revenue generation and capital to support its business strategy. The company is actively seeking to improve its financial condition through potential equity issuances and product sales, while also acknowledging the inherent risks associated with its operations in a competitive market.