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Quarterly Report Results
Panamera Holdings Corporation (PHCI) has released its quarterly report for the period ended April 30, 2023. The company has generated a revenue of $75,001 from its consulting services agreement with First DP Ventures, LP dba First Primary Care of Houston, reflecting an increase in revenue compared to the same period last year. However, PHCI still recorded a net loss of $25,796 for the three months ended April 30, 2023, a slight improvement from the net loss of $29,230 during the same period in 2022.
The total assets of the company stood at $9,264, while its liabilities totaled $79,843. PHCI holds a stockholders’ deficit of $70,579, with 39,210,000 shares of common stock issued and a treasury stock of 6,000,000 shares as of April 30, 2023. The total operating expenses for the quarter amounted to $10,239, an improvement from the $20,559 reported in the same period last year.
Financing Operations
Over the nine months ending April 30, 2023, PHCI has relied on related party loans and equity financing arrangements to fund its operations. The company received $10,800 in loans from its shareholders during this period, with a total due to related party balance of $44,746 as of April 30, 2023. Management intends to continue raising additional funds through public or private placement offerings to support its operations.
PHCI’s cash position decreased from $3,087 as of July 31, 2022, to $931 as of the end of April 2023, reflecting a potential need for further financing to maintain operations. The company’s ability to emerge from its early stage will depend on securing adequate financing and successfully implementing its business plans, focusing on opportunities in the environmental services industry, emerging innovative technologies, and individual health choices led by innovation with integration.
Future Outlook
Despite a growing revenue and a decrease in net loss as compared to the previous year, Panamera Holdings still faces uncertainties regarding its ability to continue operations due to its financial position and limited revenues. The company’s management is actively seeking additional financing to ensure the continuation of its business and achieve long-term success.
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