other material
confidence high
sentiment negative
materiality 0.70
DIA audited FY2021 net loss of $676K; going concern doubt persists
Driveitaway Holdings, Inc.
- Net loss of $675,684 for FY2021, up from $198,628 in FY2020, driven by operating loss of $661,140.
- Revenue fell to $118,591 from $225,187 YoY; rental revenue dropped from $909,871 to $535,928.
- Total liabilities of $516,600 vs. assets of $31,229; stockholders' deficit of $485,371.
- Auditor includes going-concern explanatory paragraph due to recurring losses and capital deficiency.
- Acquisition closed Feb 24, 2022; company changed name to DriveItaway Holdings, Inc.