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New words:
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accruing, added, Additionally, advanced, amended, approximating, assignment, August, board, carried, Chairman, conversion, corporation, designated, director, equipment, fixed, lien, line, maturing, maximum, permanent, plaintiff, President, project, reduce, revolving, secured, sum, thereon, working, Worldwide
Financial report summary
?Management Discussion
- We have recognized net losses of $(536,666) and $(3,123,461) for the years ended December 31, 2023 and 2022. As of December 31, 2023 and 2022, the Company had an accumulated deficit of $10,935,082 and $10,398,416.
- For the year ended December 31, 2023, we generated no income, compared to no income in 2022. We incurred $327,881 in operating expenses during the 2023 period, compared to $551,245 in 2022, reflecting our decreased level of operations.. In 2023 the Company recognized $144,147 in judgments and settlements and $40,590 in interest expense. In 2022, the Company recognized $2,518,000 in judgments and settlements and $30,529 in net interest expense.
- During the year ended December 31, 2023, Omega, the principal stockholder of the Company, made additional capital contributions to the Company of approximately $31,040 in expenses paid on behalf of the Company, and Omega International, a related party, purchased 1,500,000 of common stock for $1,500 or $.001/share.