Global Leaders Corp Files 10-Q for Period Ending January 31, 2024

TL;DR

<b>Global Leaders Corp files its Q1 2024 10-Q, detailing financial positions and supplier risks.</b>

AI Summary

GLOBAL LEADERS CORP (GLCP) filed a Quarterly Report (10-Q) with the SEC on March 11, 2024. The filing is a 10-Q for Global Leaders Corp, covering the period ending January 31, 2024. The company's principal business is Services-Management Consulting Services. The filing includes data related to related and non-related party members for various periods. Balance sheet information for common stock, additional paid-in capital, accumulated other comprehensive income, and retained earnings are presented for multiple dates. Risk factors related to supplier concentration are mentioned, specifically referencing three vendors.

Why It Matters

For investors and stakeholders tracking GLOBAL LEADERS CORP, this filing contains several important signals. This 10-Q provides an updated financial snapshot of Global Leaders Corp, crucial for investors to assess the company's performance and financial health. The mention of supplier concentration risk highlights potential vulnerabilities in the company's supply chain, which could impact operations and profitability.

Risk Assessment

Risk Level: medium — GLOBAL LEADERS CORP shows moderate risk based on this filing. The company faces medium risk due to supplier concentration, as indicated by the specific mention of risks associated with 'ThreeVendorMember', 'VendorOneMember', 'VendorTwoMember', and 'VendorThreeMember' for operating expenses.

Analyst Insight

Investors should closely examine the financial statements and risk factors in this 10-Q to understand Global Leaders Corp's current operational status and potential supply chain vulnerabilities.

Key Numbers

• 2024-01-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-03-11 — Filing Date (Filed as of Date)
• 8742 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• GLOBAL LEADERS CORP (company) — Filer name
• 0001830696 (company) — Central Index Key
• 8742 (industry) — Standard Industrial Classification
• NV (jurisdiction) — State of Incorporation
• WANCHAI (location) — Business Address City
• 2024-01-31 (date) — Conformed Period of Report
• 2024-03-11 (date) — Filed as of Date

FAQ

Risk Factors

• Supplier Concentration Risk [medium — operational]: The company faces operating expense risks due to concentration with specific vendors, including 'VendorOneMember', 'VendorTwoMember', and 'VendorThreeMember'.

Industry Context

Global Leaders Corp operates in the Management Consulting Services industry. This sector involves providing expert advice to businesses on improving their efficiency and performance.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial reports to the SEC.

What Investors Should Do

1. Review the detailed financial statements within the 10-Q for the period ending January 31, 2024.
2. Analyze the specific risks associated with supplier concentration mentioned in the filing.
3. Compare the current financial data with previous filings to identify trends in Global Leaders Corp's performance.

Key Dates

• 2024-01-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-03-11: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a continuing view of a company's financial position. (This filing provides the latest quarterly financial information for Global Leaders Corp.)

Supplier Concentration Risk

A risk that a company is overly reliant on a small number of suppliers for critical goods or services. (Highlights potential operational vulnerabilities for Global Leaders Corp if key suppliers face issues.)

Year-Over-Year Comparison

This is the initial filing analyzed, so no comparison to a previous filing is available.

Key Financial Figures

• $0.0001 — ere 154,394,750 shares of Common Stock, $0.0001 par value per share, outstanding. GLO
• $ — and records in the reporting currency US$, respectively. In general, for consol
• $1 — 31, 2024 2023 Period-end HK$ : US$1 exchange rate 7.82 7.84 Period-av

Filing Documents

• form10-q.htm (10-Q) — 471KB
• ex31-1.htm (EX-31.1) — 12KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-24-009474.txt (&nbsp;) — 2145KB
• glc-20240131.xsd (EX-101.SCH) — 15KB
• glc-20240131_cal.xml (EX-101.CAL) — 21KB
• glc-20240131_def.xml (EX-101.DEF) — 85KB
• glc-20240131_lab.xml (EX-101.LAB) — 147KB
• glc-20240131_pre.xml (EX-101.PRE) — 115KB
• form10-q_htm.xml (XML) — 222KB

Financial Information

Part I. Financial Information 4 Item 1.

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of January 31, 2024 (Unaudited) and October 31, 2023 4 Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - Three months ended January 31, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - Three months ended January 31, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows (Unaudited) - Three months ended January 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements (Unaudited) - Three months ended January 31, 2024 and 2023 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 14 Item 4.

Controls and Procedures

Controls and Procedures 14

Other Information

Part II. Other Information 15 Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A.

Risk Factors

Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 15 Item 4. Mine Safety Disclosures 15 Item 5. Other Information 15 Item 6. Exhibits 16

Signatures

Signatures 17 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q of Global Leaders Corp., a Nevada corporation (the "Company"), contains "forward-looking

forward-looking statements by terminology such as "may", "will", "should", "could", "expects",

forward-looking statements by terminology such as "may", "will", "should", "could", "expects", "plans", "intends", "anticipates", "believes", "estimates", "predicts", "potential" or "continue" or the negative of such terms and other comparable terminology. These forward-looking expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. The economic environment within which we operate could materially affect our actual results. Our management has included projections and estimates in this Form 10-Q, which are based primarily on management's experience in the industry, assessments of our results of operations, discussions, and negotiations with third parties and a review of information filed by our competitors with the SEC or otherwise publicly available. We caution readers not to place undue reliance on any such forward-looking to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. 3 PART I. FINANCIAL INFORMATION ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS. GLOBAL LEADERS CORP. CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JANUARY 31, 2024 AND OCTOBER 31, 2023 (Expressed in U.S. Dollars) January 31, 2024 October 31, 2023 (Unaudited) ASSETS Current assets Cash and cash equivalents $ 1,187 $ 1,874 Prepaid expenses 4,607 2,871 Prepaid expense to related

View Full Filing

View this 10-Q filing on SEC EDGAR