Unfortunately, the provided text is a financial report in XML format, which is not easily readable or summarizable. However, I can try to extract some key financial figures and main events from the report.
The report appears to be a quarterly report (Form 10-Q) filed by Go Go Buyers, Inc. with the Securities and Exchange Commission (SEC) for the quarter ended March 31, 2025. The company is a smaller reporting company and an emerging growth company.
The report does not provide a comprehensive summary of the company’s financial performance, but it does include some financial statements and notes. The company’s common stock is not listed on any exchange, and it has not filed any reports under Section 12(b) of the Securities Exchange Act of 1934.
The report includes some financial data, such as:
The report also includes some notes and disclosures, such as:
Overall, the report provides limited information about the company’s financial performance and does not provide a comprehensive summary of its financial position or results of operations.
Overview
Go Go Buyers (“Company”) 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 the company’s website https://gogobuyers.com/.
In addition to the API services, the company operates 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.
The company has also expanded its 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.
API Packages
API Flights offers a comprehensive solution for tracking flight prices and accessing vital flight information. Powered by artificial intelligence, the software monitors prices from multiple suppliers, ensuring users find the best deals available. The 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, API Flights is the go-to solution for finding flights at the right price.
API Hotels delivers top-notch hotel pricing services powered by artificial intelligence. The software generates competitive hotel prices, enabling hoteliers to offer timely discounts through customizable search algorithms for competitors. With access to a vast database of hotels, users can search for any hotel based on location, date, and number of guests. Flexible pricing options and 50,000 calls per month make API Hotels the best choice for accessing the best hotel offers.
The Flight Calculator allows for 100,000 API requests per month based on the subscription plan. It enables the calculation of distances and flight durations between any two airports globally, leveraging up-to-date information to ensure accurate and reliable results. The API is designed for easy integration into any system or application, with comprehensive documentation and support available.
Clients
The platform is designed to attract a diverse clientele, including both small businesses and individual users. Developing businesses may find the platform attractive for accessing their target audience. Individuals can conveniently search for cost-effective delivery options due to the online service. Additionally, the company foresees increased competition in the industry as rival companies monitor each other, leading to better offers for clients.
Government Regulation
The Company will be required to comply with all regulations, rules, and directives of governmental authorities, including the US Securities and Exchange Commission and agencies applicable to the business in any jurisdiction with which it would conduct activities. The Company does not believe that governmental regulations will have a material impact on the way it conducts its business.
Employees
Go Go Buyers has no employees other than the President and Director Arturas Saladzius, and Independent Director Silvija Barkauskiene.
Results of Operations
For the Three Months Ended March 31, 2025 and 2024:
Revenues
The company has generated $21,264 and $2,952 in revenues for the three months ended March 31, 2025 and 2024, respectively. The increase in revenue was driven by the overall growth in the company’s business activity.
Operating expenses
Total operating expenses for the three-month period ended March 31, 2025 were $21,242 compared to $17,461 for the three-month period ended March 31, 2024. The operating expenses for the three months ended March 31, 2025 and 2024 included:
Expense Item | March 31, 2025 | March 31, 2024 |
---|---|---|
Amortization Expense | $8,434 | $7,260 |
General and Administrative Expenses | $4,081 | $7,679 |
Professional Fees | $8,727 | $2,522 |
The increase in total operating expenses was primarily due to the increase in amortization expense and professional fees.
Net Losses
The company’s net income (loss) for the three-month period ended March 31, 2025 and 2024 was $22 and $(14,509), respectively.
Liquidity and Capital Resources
As of March 31, 2025, the company’s total assets were $131,195, comprised of cash of $3,031, prepaid expenses of $43,268, and intangible assets of $84,896. The total liabilities were $176,011, comprised of accounts payable of $2,805, deferred revenue of $7,684, and a loan from the director of $165,522.
As of December 31, 2024, the company’s total assets were $56,556, comprised of cash of $226 and intangible assets of $56,330. The total liabilities were $101,394, comprised of deferred revenue of $1,978 and a loan from the director of $99,416.
Shareholders’ equity/(deficit) has decreased from $(44,838) as of December 31, 2024 to $(44,816) as of March 31, 2025.
The company’s net cash flows used in operating activities for the three months ended March 31, 2025 and 2024 were $22 and $(14,509), respectively. The company generated $37,000 and $0 of cash in investing activities, and $66,106 and $38,313 of cash in financing activities, during the three months ended March 31, 2025 and 2024, respectively.
Off-Balance Sheet Arrangements
As of March 31, 2025, the company did not have any off-balance sheet arrangements that have or are reasonably likely to have a material current or future effect on its financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources.
Limited Operating History and Need for Additional Capital
The company has a limited operating history, and it has generated limited revenues. The business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources and possible cost overruns due to price and cost increases in services and products.
The company has no assurance that future financing will be available on acceptable terms. If financing is not available on satisfactory terms, the company may be unable to continue, develop, or expand its operations. Equity financing could result in additional dilution to existing shareholders.