Summary by Moomoo AI
SRIVARU Holding reported a net loss of $34.23 million for the seven months ended October 31, 2024, compared to $11.48 million loss in fiscal year 2024. The company's cash position strengthened to $5.04 million, up from $175,041 in March 2024, supported by a $25 million committed equity financing facility.The company received Nasdaq's approval to maintain its listing until November 14, 2024, conditional upon demonstrating compliance with shareholder equity requirements and providing detailed 12-month income projections. The Panel may grant additional time for completing a reverse share split to meet minimum bid price requirements.Vehicle manufacturing revenue reached $29,822 for the seven-month period, with total revenue of $33,057. The company's total assets increased to $6.66 million as of October 31, 2024, while stockholders' equity improved to $5.13 million from a negative $107,624 in March 2024.
