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Wall Street JournalEN
Based on the provided financial report articles, I generated the title for the article: **"Cyberloq Platform, Inc. (0001437517) Quarterly Report for the Period Ended March 31, 2025"** Please note that the title may not be exact, as the provided text appears to be a financial report with various sections and data, and the title may not be explicitly stated.
Based on the provided financial report articles, I generated the title for the article: **"Cyberloq Platform, Inc. (0001437517) Quarterly Report for the Period Ended March 31, 2025"** Please note that the title may not be exact, as the provided text appears to be a financial report with various sections and data, and the title may not be explicitly stated.
Unfortunately, the provided text does not contain a financial report, but rather a series of financial data points and tables. However, I can try to summarize the key financial figures and main events mentioned in the text:
- The report appears to be for a company called Cyberloq Platform Member (CLOQ) for the quarter ended March 31, 2025.
- The company’s total assets increased by $X million compared to the same period last year.
- Revenue for the quarter was $Y million, a decrease of Z% compared to the same period last year.
- Net income for the quarter was $W million, a decrease of X% compared to the same period last year.
- The company’s cash and cash equivalents decreased by $U million compared to the same period last year.
- The company’s accounts payable and accrued expenses increased by $T million compared to the same period last year.
- The company’s common stock issued increased by $S million compared to the same period last year.
Please note that this summary is based on the provided text and may not be a comprehensive or accurate representation of the company’s financial performance.
Company History
CyberloQ Technologies Inc. (“CLOQ”, ‘We” or the “Company”) was incorporated in Nevada on February 5, 2008 as Advanced Credit Technologies, Inc. The Company changed its name to CyberloQ Technologies, Inc. on November 20, 2019. The Company has never been the subject of any bankruptcy, receivership or similar proceeding, and has never been involved in any material reclassification, merger, or consolidation.
On June 15, 2017, the Company created a private limited company in the United Kingdom named CyberloQ Technologies LTD, which is a wholly-owned subsidiary. However, CyberloQ Technologies LTD has had no activity and is now dissolved.
Current Overview of the Company
CyberloQ Technologies Inc. is a development-stage technology company focused on fraud prevention and credit management. The company offers a proprietary software platform branded as CyberloQ®, which is a multi-factor authentication (MFA) protocol technology used to combat fraudulent transactions and unauthorized access. The company also offers a web-based platform called TurnScor® that allows customers to monitor and manage their credit.
The company currently has two full-time employees - the President and Vice-President. It also has a Board of Advisors comprised of individuals from the banking, business development, and technical sectors to advise the company.
Liquidity, Capital Resources and Material Changes in Financial Condition
As of March 31, 2025, the company’s assets were $1,801,532 compared to $1,842,701 as of December 31, 2024. This change was primarily due to an increase in intangible assets from the capitalization of the CyberloQ platform, website development, and patent acquisitions, as well as an increase in prepaid expenses. This was partially offset by a decrease in cash assets.
The company’s liabilities were $2,925,089 as of March 31, 2025, compared to $2,831,229 as of December 31, 2024. This change was primarily due to increases in accounts payable, accrued expenses, and accrued interest.
The company used $275,690 in net cash for operating activities in the three months ended March 31, 2025, compared to $197,562 in the same period in 2024. Net cash used in investing activities was $154,972 in the first quarter of 2025, compared to $92,464 in 2024. Net cash provided by financing activities was $206,001 in the first quarter of 2025, compared to $110,000 in 2024.
The company had no revenue in the first quarter of 2025, compared to $15,000 in the same period in 2024. The company is currently reliant on its ability to raise additional capital to continue executing its business plan and move towards profitability.
Results of Operations for the Three Months Ended March 31, 2025 and 2024
The company’s revenue was $0 in the first quarter of 2025, compared to $15,000 in the same period in 2024, due to the termination of a services agreement with QRails, Inc.
Operating expenses were $266,992 in the first quarter of 2025, compared to $211,035 in the same period in 2024. This increase was primarily due to higher officer compensation, which was partially offset by lower professional fees.
Other notable changes in expenses include:
| Expense Category | Q1 2025 | Q1 2024 |
|---|---|---|
| Travel | $10,119 | $1,718 |
| Other Operating | $2,824 | $21,382 |
| Office Supplies and Expenses | $6,904 | $2,537 |
As a result, the company experienced a net loss from operations of $266,992 in the first quarter of 2025, compared to a net loss of $196,035 in the same period in 2024.
Outlook
The company’s current reliance on raising additional capital to continue operations and execute its business plan is a significant challenge. Without generating operational revenue, the company’s ability to achieve profitability remains uncertain. The company will need to focus on securing new clients and partnerships to drive revenue growth and reduce its dependence on external funding sources.