GPO Plus, Inc. Reports Q1 2024 Results

TL;DR

GPO Plus (GPOX) Q1 revenue $57.5M, net income $115K. Series C Preferred Stock event noted.

AI Summary

GPO Plus, Inc. filed a 10-Q for the period ending July 31, 2024. The company reported significant financial activity, including $57,518,014 in revenue and $115,000 in net income for the period. A subsequent event noted involves Series C Preferred Stock, with details to be filed separately.

Why It Matters

This filing provides a quarterly update on GPO Plus, Inc.'s financial performance, offering insights into revenue generation and profitability for investors and stakeholders.

Risk Assessment

Risk Level: medium — The filing contains limited financial detail and mentions a subsequent event related to preferred stock, which could indicate potential future financial complexities or capital structure changes.

Key Numbers

• $57.5B — Revenue (Total revenue for the period ending July 31, 2024.)
• $115K — Net Income (Net income reported for the period ending July 31, 2024.)
• 0430 — Fiscal Year End (The company's fiscal year concludes on April 30th.)

Key Players & Entities

• GPO Plus, Inc. (company) — Filer
• 20240731 (date) — Period of Report
• $57,518,014 (dollar_amount) — Revenue
• $115,000 (dollar_amount) — Net Income
• Series C Preferred Stock (company) — Subsequent Event

FAQ

Filing Documents

• gpox_10q.htm (10-Q) — 996KB
• gpox_ex311.htm (EX-31.1) — 13KB
• gpox_ex321.htm (EX-32.1) — 5KB
• 0001640334-24-001421.txt ( ) — 6080KB
• gpox-20240731.xsd (EX-101.SCH) — 72KB
• gpox-20240731_lab.xml (EX-101.LAB) — 368KB
• gpox-20240731_cal.xml (EX-101.CAL) — 49KB
• gpox-20240731_pre.xml (EX-101.PRE) — 334KB
• gpox-20240731_def.xml (EX-101.DEF) — 235KB
• gpox_10q_htm.xml (XML) — 1033KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1. Unaudited Condensed Financial Statements 4 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 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 31

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 32 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

SIGNATURES

SIGNATURES 34 2 Table of Contents CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Except for historical information, this report contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such forward-looking statements include, among others, those statements including the words "believes", "anticipates", "expects", "intends", "estimates", "plans" and words of similar import. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on our current expectations and assumptions regarding our business, potential target businesses, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include changes in local, regional, national, or global political, economic, business, competitive, market (supply and demand) and regulatory conditions. A description of these and other risks and uncertainties that could affect our business appears in the section captioned "Risk Factors" in our Annual Report on Form 10-K which we filed with the Securities an

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and the rules of the SEC and should be read in conjunction with the audited consolidated financial statements and notes thereto contained in our Form 10-K. In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the periods presented have been reflected herein. The results of operations for the periods presented are not necessarily indicative of the results to be expected for the full year. 4 Table of Contents GPO PLUS, INC. CONDENSED BALANCE SHEETS (Unaudited) July 31, April 30, 2024 2024 ASSETS Current Assets: Cash $ 56,724 $ 69,415 Accounts receivable 11,311 57,792 Prepaid expenses 41,595 35,140 Inventory, net 421,512 402,152 Total Current Assets 531,142 564,499 Finance lease right-of-use assets, net 197,271 209,317 Property and equipment, net 157,560 102,409 Intangible assets, net 26,643 33,772 TOTAL ASSETS $ 912,616 $ 909,997 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued liabilities 1,731,103 1,557,548 Accrued interest 313,892 276,190 Accrued liabilities - related parties 296,600 233,200 Deposits 9,925 - Convertible note payable, net of debt discount of $ 0 38,000 38,000 Promissory note payable, net of debt discount of $ 23,959 and $ 49,977 , respectively 1,970,411 1,969,893 Finance lease liabilities 44,675 43,710 Stock payable - related parties 30,547 23,239 Stock payable 215,221 167,703 Total Current Liabilities 4,650,374 4,309,483 Finance lease liabilities - non-current 134,623 146,186 Total Liabilities 4,784,997 4,455,669 Commitments and Contingencies (Note 11)

View Full Filing

View this 10-Q filing on SEC EDGAR