Tofla Megaline Reports $23,000 Revenue Growth but Incurred $24,616 Net Loss for Quarter Ending October 31, 2024

Tofla Megaline Inc. reported its financial results for the three months ending October 31, 2024, revealing a total revenue of $23,000, a significant increase from $0 in the same period last year. The company, which specializes in developing software for security systems, attributed this revenue growth to enhanced marketing and sales efforts. However, Tofla also recorded a net loss of $24,616 for the quarter, compared to a loss of $17,590 in the prior year, reflecting increased operating expenses primarily driven by higher general and administrative costs.

The company's total operating expenses surged to $47,616 for the quarter, up from $17,590 a year earlier. This increase was largely due to a rise in general and administrative expenses, which reached $33,591, compared to $7,888 in the previous year. The company incurred additional costs related to professional fees for its OTCQB application and website maintenance, which were not present in the prior period. Amortization expenses also rose to $9,225 from $4,902, reflecting the ongoing investment in intangible assets.

As of October 31, 2024, Tofla Megaline reported total assets of $94,886, a decrease from $101,611 at the end of the previous fiscal period. The company's liabilities increased to $142,892, primarily due to a related party loan, which rose from $124,701. The accumulated deficit also widened to $78,067, up from $53,451, indicating ongoing financial challenges as the company continues to invest in its development stage.

In terms of operational metrics, Tofla Megaline maintained a consistent share count, with 5,352,035 common shares outstanding as of both October 31, 2024, and July 31, 2024. The company has not reported any significant changes in customer counts or geographic expansion during this period. However, it continues to focus on enhancing its product offerings, including software for threat detection and route optimization for robotic security systems.

Looking ahead, Tofla Megaline's management expressed optimism about revenue growth over the next twelve months, contingent on the successful development and marketing of its software solutions. The company plans to finance its operations through loans from directors and potential private placements of common stock if necessary. Despite the current financial losses and challenges, Tofla aims to position itself as a key player in the security software market by leveraging its innovative technology and expanding its customer base.