Stark Focus Group, Inc. reported its financial results for the third quarter and the nine months ended September 30, 2024, revealing significant challenges in revenue generation and increased operational losses. The company recorded no revenue for both the third quarter and the nine-month period, consistent with the same periods in 2023. The cost of sales also remained at zero.

General and administrative expenses for the third quarter of 2024 amounted to $5,136, a notable increase from $1,334 in the same quarter of the previous year. For the nine months ended September 30, 2024, these expenses totaled $31,008, compared to $24,150 for the same period in 2023. The net loss for the third quarter was $6,341, up from a loss of $1,727 in Q3 2023. For the nine-month period, the net loss increased to $33,740 from $25,317 in 2023.

The company's financial position as of September 30, 2024, showed total liabilities of $127,203, an increase from $93,463 at the end of 2023. Stark Focus Group reported a stockholders’ deficit of $127,203, compared to $93,463 previously. Current assets were reported as nil, with total current liabilities at $88,283, reflecting a working capital deficiency of $88,283, slightly up from $87,113 at the end of 2023.

In terms of financing, the company issued a convertible note on September 30, 2024, generating net proceeds of $5,136, with a maturity date of December 31, 2028, and an interest rate of 10%. This was part of a series of convertible notes issued throughout 2024, totaling $32,222. Interest expenses related to these notes were recorded at $812 for the third quarter and $1,562 for the nine months, compared to no interest expenses in the same periods of 2023.

Management expressed substantial doubt regarding the company's ability to continue as a going concern without additional investment capital, highlighting an anticipated need for $60,000 over the next 12 months for various operational expenses. The company has no current arrangements for additional financing and is expected to rely on equity sales and loans from related parties.

Additionally, Stark Focus Group's management evaluated its internal controls as of September 30, 2024, concluding that they were not effective due to insufficient personnel and lack of written policies. Future plans include adopting specific internal control mechanisms to enhance operational effectiveness.