Overview of Ankam, Inc.’s Financial Performance

Ankam, Inc. is a technology company that specializes in the development of mobile applications, including Expense Minder, MoneySaverApp, and Apex, a currency conversion service. The company has experienced growth in its operations, as evidenced by the increase in revenue from $19,697 in the nine months ended August 31, 2023, to $33,842 in the nine months ended August 31, 2024.

Revenue and Profit Trends

• Revenues increased by 72% in the nine months ended August 31, 2024, compared to the same period in the previous year, due to overall growth in the company’s operating activities.
• However, the company has continued to incur net losses, with a net loss of $106,636 in the nine months ended August 31, 2024, compared to a net loss of $215,558 in the same period in the previous year.

Strengths and Weaknesses

Strengths:

• The company has successfully acquired Apex Intelligence LLC, which has enhanced its operational efficiency and expanded its product offerings.
• The company has been able to secure debt forgiveness agreements with its former directors, reducing its liabilities.

Weaknesses:

• The company has a limited operating history and has generated limited revenues, which makes it difficult to evaluate its long-term performance.
• The company has a significant accumulated deficit and may require additional capital to continue its operations and development.

Outlook for the Future

The company’s future outlook is uncertain due to its limited operating history and the need for additional capital. While the company has made progress in developing its mobile applications and expanding its product offerings, it will need to continue to invest in marketing and advertising to build brand awareness and attract users. Additionally, the company will need to carefully manage its expenses and seek additional sources of funding to support its ongoing operations and future growth.

Table 1: Financial Highlights