M&A - Xenous Holdings, Inc.

Form Type: 10-Q

Filing Date: 2025-02-14

Corporate Action: Acquisition

Type: Update

Accession Number: 000164033425000255

Filing Summary: Xenous Holdings, Inc. reported its financial results for the quarter ended December 31, 2024, including a continued net loss of $14,894 for the three-month period, and a total net loss of $46,049 for the nine months ended December 31, 2024. The firm's accumulated deficit reached $1,196,015, representing a substantial decline in financial condition. As of December 31, 2024, the company did not generate any revenue and had a stockholders' deficit of $885,215. Total current liabilities increased compared to the previous year, largely due to advances from its majority shareholder, Smartex Investment Ltd., who owns 82% of the company. The report notes an ongoing acquisition process of a Malaysia-based agricultural firm, highlighting the completion of preliminary due diligence and the expectation of concluding further assessments in the first half of 2025. This acquisition aims to bolster the company's operational capabilities, particularly in agricultural trading and research. Legal proceedings and ongoing risks are addressed; however, the company continues to face significant doubt regarding its ability to continue as a going concern due to its accumulated losses and lack of operational revenue.

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