flooidCX Corp Reports Strong Growth and Transition to Quantum Energy Corporation Amid Financial Improvements

Company Overview: flooidCX Corp (PINK: FLCX) is focusing on the energy sector, specifically providing distributed direct energy solutions. The company recently announced substantial growth, driven by sales of licensed distributorships, as it transitions to Quantum Energy Corporation.

Recent Financial Highlights (Three Months Ended September 30, 2024):

• Revenue: $500,000, compared to $0 in the same period last year.
• Net loss: $(1,155,176), improving from a loss of $(5,147,668) year-over-year.
• Weighted average shares: 49,166,697.
• Earnings per share: $(0.02) vs $(0.11).

Recent Financial Highlights (Nine Months Ended September 30, 2024):

• Revenue: $5,500,000, compared to $0 last year.
• Net income: $1,925,040 vs a loss of $(5,263,910) in 2023.
• Increase in stockholders' equity: Up to approximately $8.86 million from $2.40 million.

Key Revenue Stream:

Overall Performance:

• Operating expenses: Totaled $1,684,616, significantly higher than $26,645 in the prior year, attributed to ramp-up in operations.
• Depreciation expenses: $144,116, reflective of investments in new equipment.
• Other income: $29,440 within the quarter, offset by previous year losses closely tied to conversion of debt.

Cash Flow and Liquidity:

• Net cash from operating activities: $1,852,753.
• Total assets: $15,892,284, mainly driven by an increase in current assets.
• Cash and cash equivalents: Ended the quarter at $241,753.

Outlook and Challenges:

Conclusion: flooidCX Corp has marked a significant turnaround in performance, transitioning towards profitability with strategic sales and expanding operational capabilities. However, ongoing challenges in control processes and liquidity remain key areas for investor vigilance.