Go Go Buyers' Losses Widen Amidst Director Loan Reliance

TL;DR

**Go Go Buyers is burning cash and relying on its director to stay afloat; avoid until they prove a viable business model.**

AI Summary

Go Go Buyers, Inc. reported a net loss of $23,366 for the three months ended June 30, 2025, a significant increase from the $7,448 net loss in the same period of 2024. For the six months ended June 30, 2025, the company's net loss was $23,344, compared to $21,957 for the six months ended June 30, 2024. Revenue for the three months ended June 30, 2025, decreased to $17,142 from $18,317 in the prior year, while six-month revenue increased to $38,406 from $21,269. Total assets grew to $140,132 as of June 30, 2025, from $56,556 at December 31, 2024, primarily driven by an increase in intangible assets to $100,676 and prepaid expenses to $31,707. Liabilities also surged, with a loan from a director increasing to $169,022 from $99,416, and accounts payable rising to $34,875 from zero. The company's accumulated deficit worsened to $(100,499) as of June 30, 2025, from $(77,155) at December 31, 2024, indicating substantial doubt about its ability to continue as a going concern without additional investment capital.

Why It Matters

Go Go Buyers' widening net losses and heavy reliance on director loans for funding raise significant red flags for investors, signaling a precarious financial position. The company's 'going concern' warning indicates that its long-term viability is uncertain, potentially impacting employees' job security and customers' confidence in its API services. In a competitive tech landscape, Go Go Buyers' struggle to generate sufficient revenue to cover operating costs, despite increased intangible asset investment, suggests it's falling behind larger, more stable players. This situation could lead to further dilution for existing shareholders if the company pursues additional capital market funding, as outlined in its strategic outlook.

Risk Assessment

Risk Level: high — The company explicitly states "there is substantial doubt about the Company's ability to continue as a going concern" due to consistent losses and insufficient revenue to cover operating costs. Its accumulated deficit reached $(100,499) as of June 30, 2025, and it is heavily dependent on a $169,022 loan from its director, representing 81% of its total liabilities.

Analyst Insight

Investors should exercise extreme caution and avoid Go Go Buyers, Inc. given the explicit 'going concern' warning and increasing losses. Monitor for any significant capital raises or a clear path to profitability before considering an investment, as the current financial state suggests high risk.

Key Numbers

• $23,366 — Net Loss (Q2 2025) (Increased from $7,448 in Q2 2024)
• $100,499 — Accumulated Deficit (Worsened from $77,155 at Dec 31, 2024)
• $169,022 — Loan from Director (Increased from $99,416 at Dec 31, 2024, representing 81% of total liabilities)
• $7,749 — Cash (June 30, 2025) (Increased from $226 at Dec 31, 2024, but still very low)
• $38,406 — Revenue (Six months ended June 30, 2025) (Increased from $21,269 in the prior year, but insufficient to cover costs)
• $100,676 — Intangible Assets, Net (Increased from $56,330 at Dec 31, 2024, primarily from software purchases)
• 4,161,425 — Common Shares Outstanding (Consistent as of June 30, 2025 and December 31, 2024)

Key Players & Entities

• Go Go Buyers, Inc. (company) — registrant
• SEC (regulator) — Securities and Exchange Commission
• Arturas Saladzius (person) — current director and lender
• Nevada (company) — state of incorporation
• Bloomberg (company) — publisher

FAQ

Key Financial Figures

• $250,000 — ederal depository insurance coverage of $250,000. The Company has not experienced losses
• $3,000 — retary and Director in consideration of $3,000. Loan Agreement – Related Party The
• $50,000 — ough verbal agreements in October 2019 ($50,000) and October 2020 ($50,000), and a subs
• $60,000 — t written loan agreement in March 2022 ($60,000) with an initial one-year term, later e
• $100,499 — ng loss carry forwards of approximately $100,499 that may be available to reduce future
• $21,105 — e as of June 30, 2025 was approximately $21,105. In assessing the realizability of defe
• $0.001 — shares of common stock at par value of $0.001 each. As of June 30, 2025, the Company
• $32,317 — s to its President and shareholders for $32,317. Warrants — The Company does not have

Filing Documents

• form10q_gogo30062025.htm (10-Q) — 297KB
• exhibit31.htm (EX-31.1) — 9KB
• exhibit32.htm (EX-32.1) — 4KB
• 0001842563-25-000017.txt ( ) — 1428KB
• ggby-20250630.xsd (EX-101.SCH) — 12KB
• ggby-20250630_cal.xml (EX-101.CAL) — 21KB
• ggby-20250630_def.xml (EX-101.DEF) — 13KB
• ggby-20250630_lab.xml (EX-101.LAB) — 101KB
• ggby-20250630_pre.xml (EX-101.PRE) — 75KB
• form10q_gogo30062025_htm.xml (XML) — 131KB

Financial Statements

Financial Statements. 5 Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 6 7 8 9 Notes to the Unaudited Financial Statements 10 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. 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 19 Item 4.

Controls and Procedures

Controls and Procedures. 19 PART II OTHER INFORMATION: Item 1. Legal Proceedings. 19 Item 1A. Risk Factors. 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 20 Item 3. Defaults Upon Senior Securities. 20 Item 4. Mine Safety Disclosures. 20 Item 5. Other Information. 20 Item 6. Exhibits. 20

Signatures

Signatures 21 3 Special Note Regarding Forward—Looking Statements 10-Q that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 (the "Act") and Section 21E of the Securities Exchange Act of 1934. These statements often can be identified by the use of terms such as "may," "will," "expect," "believe," "anticipate," "estimate,", "approximate" or "continue", or the negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking statements represent management's best judgment as to what may occur in the future. However, forward-looking statements are subject to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statement or to reflect the occurrence of anticipated or unanticipated events. Financial information contained in this quarterly report and in our unaudited interim financial statements is stated in United States dollars and are prepared in accordance with United States generally accepted accounting principles. 4

—FINANCIAL

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements. The accompanying interim

financial statements of GO GO BUYERS (the "Company", "we", "us" or "our"),

financial statements of GO GO BUYERS (the "Company", "we", "us" or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted principles have been condensed or omitted pursuant to such rules and regulations. The interim financial statements are condensed and should be read in conjunction with the Company's latest annual financial statements. In the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 5 GO GO BUYERS BALANCE SHEETS June 30, 2025 (Unaudited) December 31, 2024 (Audited) ASSETS Current Assets Cash $ 7,749 $ 226 Prepaid Expenses 31,707 - Total Current Assets 39,456 226 Intangibles Assets, Net 100,676 56,330 Total Assets $ 140,132 $ 56,556 LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) Liabilities Accounts Payable $ 34,875 $ - Deferred Revenue 4,417 1,978 Loan from Director 169,022 99,416 Total Liabilities 208,314 101,394 Commitments and Contingencies Stockholders' Equity/(Deficit) Common stock: $ 0.001 par value, 75,000,000 shares authorized, 4,161,425 and 4,161,425 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 4,161 4,161 Additional Paid in Capital 28,156 28,156 Accumulated Deficit ( 100,499 ) ( 77,155 ) Total Stockholders' Equity/(Deficit) ( 68,182 ) ( 44,838 ) Total Liabilities and Stockholders' Equity/(Deficit) $ 140,132 $ 56,556 The accompanying notes are an integral part of these unaudited financial statements. 6 GO GO BUYERS For the

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

Management's Discussion and Analysis of Financial Condition and Results of Operations. Overview Go Go Buyers specializes in two API integration services: API Flights and API Hotels. API Flights provides users with real-time flight price tracking from various suppliers, along with comprehensive airport schedule data and flight tracking features. API Hotels utilizes artificial intelligence to generate and compare hotel prices from a wide range of suppliers. Both services are accessible through our website https://gogobuyers.com/. In addition to our API services, we operate a forum where users can connect to place orders, make requests, and engage with travelers. Users can select a traveler from a list of countries to initiate a chat and arrange for item delivery. This platform aims to facilitate global connections and assist users in transporting items between locations. We expanded our product offerings with the Flight Calculator API, a tool for calculating air distances and flight times between any airports worldwide. This innovative solution empowers travelers, businesses, and aviation professionals to plan journeys with precision and optimize routes for efficiency. With Flight Calculator, users can make informed decisions and streamline travel planning processes effortlessly. The Flight Calculator API is accessible through our website https://api.gogobuyers.com/demo. The mailing address of the Company is at 5348 Vegas Drive, Las Vegas, NV 89108. Our telephone number is +15305394950. API Packages API Flights offers a comprehensive solution for tracking flight prices and accessing vital flight information. Powered by artificial intelligence, our software monitors prices from multiple suppliers, ensuring users find the best deals available. Our APIs provide access to airport schedules, flight tracking details (including departure and arrival times, dates, terminals, and current status), and more. With competitive pricing and over 1,000,000 request credits,

View Full Filing

View this 10-Q filing on SEC EDGAR