Skkynet Cloud Systems, Inc.
For the period ended Apr 30, 2025. Filed Jun 13, 2025.
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.
Apr 30, 2025 · Filed Jun 13, 2025
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-01-31; filed 2025-03-17.
0001477932-25-001769
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-04-30; filed 2025-06-13.
0001477932-25-004591
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 18 previous paragraphs and 18 current paragraphs.
9 unchanged; 8 reworded; 1 added; 1 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 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
Net loss before taxes of $226,483 and net income before taxes of $2,580, was reported for the three and six month periods ended April 30, 2025, compared to net loss of $194,886 and $173,502 for the same periods in 2024. Net loss after tax for the three months periods ended April 30, 2025 was $227,723 and net income after taxes for the six months period was $1,340 compared to net loss of $166,503 and $145,119 for the same periods in 2024. These amounts reflect tax payments and refunds during the six month periods.
Removed paragraphs (1)
Previous report
Net income, after income taxes of $229,063, was reported for the three months period ended January 31, 2025, compared to net income after income taxes of $21,384 for the same period in 2024. The net income for the three month period in 2025 can be attributed to an increase in revenue of 31.3% more than during the same period in 2024. Additionally, the operating expenses for the three months period ended January 31, 2025 was only $30,929 more than the same period in 2024.
Reworded paragraphs (8)
Previous wording
For the three month period ended January 31, 2025, revenue was $828,052 compared to $630,536 for the same period in 2024. Revenue increased for the three months period ended January 31, 2024 over the same period in 2024 by 31.3%. The increase in revenue for the three months period is attributed to higher sales by Cogent. The Company is benefiting from its prior investment in sales and marketing, which has contributed to the increase in Cogent’s sales.
Current wording
For the three and six month periods ended April 30, 2025, revenue was $585,712 and $1,414,764 compared to $601,806 and $1,232,342 for the same periods in 2024. Revenue increased for the six month period ended April 30, 2025 over the same period in 2024 by 14.8%. The increase in revenue for the six month period is attributed to benefiting from its prior investment in sales and marketing, which has contributed to the increase in sales. As Company sales increases, revenue from quarter to quarter is dependent on the timing of orders placed by its customers. Additionally, as larger customers place orders, the revenue volume can fluctuate significantly. During the quarter ending April 30, 2025, the Company had 14% fewer individual software orders compared to the first quarter ending January 31, 2025 resulting in 32% less revenue in the second quarter. The Company cannot determine if there were any significant external factors in the marketplace that impacted the results.
Previous wording
Operating expense was $629,815 for the three month periods ended January 31, 2025 compared to $592,180 for the same periods in 2024. The decrease in general and administrative expenses offset by an increase in advertising for the three months periods ended January 31, 2025 over the same periods in 2024, resulted in an increase in expenses in 2025 over the same period in 2024.
Current wording
Operating expense was $780,405 and $1,411,220 for the three and six month periods ended April 30, 2025 compared to $803,998 and $1,396,168 for the same periods in 2024. The decrease in advertising expenses of $45,532 was offset by an increase in stock based compensation of $14,859 due to added options issued plus an increase in salaries and wages of $45,128 for the six month period ended April 30, 2025 over the same periods in 2024, resulted in an increase in the six month expenses in 2025 over the same period in 2024. Salaries and wages expense increased in the six months ended April 30, 2025 due to new hires plus increased bonus payments during that period.
Previous wording
For the three months periods ended January 31, 2025, the Company reported an operating income of $198,237 compared to operating income of $38,356 for the same period in 2024. The operating income during the three months period ended January 31, 2025 over the operating income for same period in 2024 is attributable to higher revenues along with minimal change in expenses in the three months period ended January 31, 2025, versus the same period in 2024.
Current wording
For the three and six month periods ended April 30, 2025, the Company reported an operating loss of $194,693 and operating income of $3,544 compared to operating losses of $202,182 and $163,826 for the same periods in 2024. The operating income during the six month period ended April 30, 2025 over the operating loss for same period in 2024 is attributable to higher revenues offsetting the increased expenses in the six month period ended April 30, 2025, versus the same period in 2024.
Previous wording
Other income for the three months period ended January 31, 2025 was $30,826, consisting of other income of $9,752 and a currency gain of $21,074. This compared to other expense of $16,972 consisting of other income of $2,987 and a currency loss of $19,959 for the same periods in 2024. The amount of change in both periods was due mostly to the effect of currency exchange.
Current wording
Other expenses for the three and six month periods ended April 30, 2025 was $31,790 and $964, consisting of other income of $8,357 and $18,109, currency loss of $26,673 and $5,599 plus a bad debt expense of $13,474. This compared to other income of $7,296 for the three months and other loss of $9,676 during the six months period ended April 30, 2024. Other income and expense consisted of other income of $5,008 and $7,995, currency income of $2,288 and currency loss of $17,671 for the same periods in 2024. The amount of change in both periods was due to the effect of currency exchange plus bad debt expense of $13,474.
Previous wording
Net income to common stockholders was $226,158 for the three months period ended January 31, 2025, compared to net income of $18,479 for the same period in 2024. Net income to common shareholders includes the expense of dividend for preferred stockholders of $2,905 being accrued for the three months period ended January 31, 2025 and 2024.
Current wording
Net loss to common stockholders was $230,628 and $4,470 for the three and six month periods ended April 30, 2025, compared to net loss of $169,408 and $150,929 for the same periods in 2024. Net income to common shareholders includes the expense of dividend for preferred stockholders of $2,905 and $5,810 being accrued for the three and six month periods ended April 30, 2025 and 2024.
Previous wording
The Company reported comprehensive income of $230,831 for the three months period ended January 31, 2025 compared to a comprehensive income of $23,951 for the same period in 2024. The comprehensive income is an adjustment to net gain or loss with foreign currency translation adjustments.
Current wording
The Company reported comprehensive losses of $235,302 and $13,817 for the three and six month periods ended April 30, 2025 compared to a comprehensive loss of $174,713 and $161,706 for the same periods in 2024. Comprehensive income is an adjustment to net gain or loss with foreign currency translation adjustments.
Previous wording
At January 31, 2025, the Company had current assets of $1,846,834 and current liabilities of $705,231, resulting in working capital of $1,141,603. Accumulated deficit, as of January 31, 2025, was $6,245,149 with total stockholders’ equity of $1,143,113.
Current wording
At April 30, 2025, the Company had current assets of $1,689,159 and current liabilities of $758,809, resulting in working capital of $930,350. Accumulated deficit, as of April 30, 2025, was $6,475,777 with total stockholders’ equity of $930,350.
Previous wording
Net cash provided by operating activities for the three months period ended January 31, 2025, was $157,268 compared to net cash used in operating activities of $12 for the same period in 2024. The cash provided by operating activities for the three months period ended January 31, 2025 compared to the cash used in operating activities over the same period in 2024 was primarily due an increase in revenue in 2025 over 2024 of $197,500.
Current wording
Net cash provided by operating activities for the six month period ended April 30, 2025, was $100,616 compared to net cash provided by operating activities of $107,487 for the same period in 2024. The cash provided by operating activities for the six month period ended April 30, 2025 compared to the net cash provided in operating activities over the same period in 2024 was primarily due to a reduction of the net loss of $138,875 in the same period of 2025 over 2024.