brooqLy Inc
For the period ended Sep 30, 2024. Filed Nov 29, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 29, 2024
BRQLStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-06-30; filed 2024-08-19.
0001477932-24-005142
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-09-30; filed 2024-11-29.
0001477932-24-007744
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 38 previous paragraphs and 38 current paragraphs.
21 unchanged; 16 reworded; 1 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
For the Three and Nine months Ended September 30, 2024 and 2023
Removed paragraphs (1)
Previous report
For the Three and Six months Ended June 30, 2024 and 2023
Reworded paragraphs (16)
Previous wording
ITEM 2 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Current wording
ITEM 2 MANAGEMENT’SDISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
Previous wording
At June 30, 2024, we had a working capital deficit of approximately $328,698. Our current liquidity resources are insufficient to fund the anticipated level of operations for at least the next 12 months from the date these condensed financial statements were issued. As a result, there is substantial doubt regarding our ability to continue as a going concern.
Current wording
At September 30, 2024, we had a working capital deficit of approximately $403,014. Our current liquidity resources are insufficient to fund the anticipated level of operations for at least the next 12 months from the date these condensed financial statements were issued. As a result, there is substantial doubt regarding our ability to continue as a going concern.
Previous wording
For the six months ended June 30, 2024, and June 30, 2023, we generated $181 in revenue and $2 respectively.
Current wording
For the nine months ended September 30, 2024 and September 30, 2023, we generated $266 in revenue and $3 respectively.
Previous wording
For the three months ended June 30, 2024, and June 30, 2023, we generated $152 and $1 in total revenue, respectively.
Current wording
For the three months ended September 30, 2024and September 30, 2023, we generated $85 and $1 in total revenue, respectively.
Previous wording
Our operating expenses totaled $165,748 and $169,490 for the six months ended June 30, 2024, and June 30, 2023, respectively. The $3,920 decrease in operating expenses is primarily attributable to a decrease in marketing expenses.
Current wording
Our operating expenses totaled $252,210 and $247,030 for the nine months ended September 30, 2024, and September 30, 2023, respectively. The $5,180 decrease in operating expenses is primarily attributable to a decrease in marketing expenses.
Previous wording
For the three months ended June 30, 2024. and June 30, 2023, we incurred $74,814 and $34,652 respectively. The increase is mainly due to accrued salaries for the officers.
Current wording
For the three months ended September 30, 2024 and September 30, 2023, we incurred $86,462 and $77,539 in operating expenses, respectively. The increase is mainly due to accrued salaries for the officers.
Previous wording
We had interest expense of $145,654 and $0 for the three months and $150,404 and $0 for the six months ended June 30, 2024, and June 30, 2023, respectively. The interest expense is directly attributable to the conversion of the two Convertible Notes and the Promissory Note that were converted on April 19, 2024
Current wording
We had interest expense of $3,948 and $31,864 for the three months and $154,351 and $31,864 for the nine months ended September 30, 2024, and September 30, 2023, respectively. The interest expense is directly attributable to the conversion of the two Convertible Notes and the Promissory Note that were converted on April 19, 2024
Previous wording
We also had a loss of $376,000 and $0 on the conversion of two convertible notes for the three and six months ended June 30, 2024, and June 30, 2023, respectively.
Current wording
We also had a loss of $0 for the three months and $376,000 and $0 on the conversion of two convertible notes for the nine months ended September 30, 2024, and September 30, 2023, respectively.
Previous wording
For the six months ended June 30, 2024, we recognized a net loss from operations of $691,971, that is due to $165,748 in operating expenses, $150,404 in interest expense and $376,000 from the loss on conversion of two convertible notes. For the six months ended June 30, 2023, we recognized a net loss from operations of $169,487 that is due to $169,490 in operating expenses.
Current wording
For the nine months ended September 30, 2024, we recognized a net loss from operations of $782,294,that is attributed to $252,210 in operating expenses, $154,351 in interest expense and $376,000 from the loss on conversion of two convertible notes. For the nine months ended September 30, 2023, we recognized a net loss from operations of $278,622 that is due to $247,030 in operating expenses and $31,864 in interest expense.
Previous wording
For the three months ended June 30, 2024, we recognized a net loss from operations of $596,316, that is due to $74,814 in operating expenses, $150,404 in interest expense and $376,000 from the loss on conversion of two convertible notes. For the three months ended June 30, 2023, we recognized a net loss from operations of $34,651 that was due to $34,652 in operating expenses.
Current wording
For the three months ended September 30, 2024, we recognized a net loss from operations of $90,324, that is attributed to $86,462 in operating expenses, $3,948 in interest expense for the three months ended September 30, 2023, we recognized a net loss from operations of $109,135 that was due to $77,539 in operating expenses and $31,864 in interest expense.
Previous wording
At June 30, 2024, we had a working capital deficit of $328,698. Our current liquidity resources are insufficient to fund our anticipated level of operations. As a result, there is substantial doubt regarding our ability to continue as a going concern. Our ability to continue operations depends on our ability to generate and grow revenue as well as access capital markets when necessary to fund strategic objectives. We expect to continue to incur losses in the immediate future and will need additional equity or debt financing until we can achieve profitability and positive cash flows from operating activities. There is no assurance that the Company will be successful in any capital-raising efforts that it may undertake to fund operations and implement our business plan in the future.
Current wording
At September 30, 2024, we had a working capital deficit of $403,014. Our current liquidity resources are insufficient to fund our anticipated level of operations. As a result, there is substantial doubt regarding our ability to continue as a going concern. Our ability to continue operations depends on our ability to generate and grow revenue as well as access capital markets when necessary to fund strategic objectives. We expect to continue to incur losses in the immediate future and will need additional equity or debt financing until we can achieve profitability and positive cash flows from operating activities. There is no assurance that the Company will be successful in any capital-raising efforts that it may undertake to fund operations and implement our business plan in the future.
Previous wording
Net Cash Provided/Used in Operating Activities.
Current wording
Net Cash Provided by/Used in Operating Activities.
Previous wording
Net cash flow provided by operating activities was $80,471 for the six months ended June 30, 2024, compared to cash flow of $148,575 used in operating activities during the six months ended June 30, 2023. The increase is mainly due to shares issued for loans and interest. Our primary uses of funds in operations were payments made for legal and professional fees.
Current wording
Net cash flow provided by operating activities was $80,272 for the nine months ended September 30, 2024, compared to cash flow of $129,871 used in operating activities during the nine months ended September 30, 2023. The increase is mainly due to shares issued for loans and interest. Our primary uses of funds in operations were payments made for legal and professional fees.
Previous wording
For the six months ended June 30, 2024, and June 30, 2023, our net cash used from investment activities was $90,440 and $0, respectively.
Current wording
For the nine months ended September 30, 2024, and September 30, 2023, our net cash used from investment activities was $90,274 and $22,000, respectively.
Previous wording
Our total indebtedness at June 30, 2024 was $358,934, all of which represent current liabilities. Current liabilities consist primarily of accounts payable, payroll payable, due to related party and notes payable.
Current wording
Our total indebtedness at September 30, 2024 was $433,217, all of which are considered current liabilities. Current liabilities consist primarily of accounts payable, payroll payable, due to related party and notes payable.
Previous wording
At June 30, 2024, we had $30,237 of current assets and our working capital deficit was $328,698.
Current wording
At September 30, 2024, we had $30,204 of current assets and our working capital deficit was $403,014.