INNO Holdings reported Q2 2024 revenues of $45,682, down 56% from $104,058 in Q2 2023, with a net loss of $1.1 million. The company's gross margin declined as costs of materials and labor reached $25,549. Operating expenses increased 70% to $1.03 million due to additional overhead costs supporting future expansion and public company compliance requirements.The company successfully completed its IPO in December 2023, raising net proceeds of $8 million. As of June 30, 2024, INNO Holdings maintained $1.89 million in cash and reported a working capital position of $1.27 million. The company's backlog stands at approximately $14-19 million, including a significant $15.88 million agreement with Vision Opportunity Fund LP.Management faces challenges including Nasdaq listing compliance after receiving notice in April 2024 regarding minimum bid price requirements. The company must regain compliance by October 9, 2024, to maintain its listing. Additionally, substantial doubt exists about the company's ability to continue as a going concern, as current cash levels may not be sufficient to fund operations for the next twelve months.

INNO Holdings reported Q2 2024 revenues of $45,682, down 56% from $104,058 in Q2 2023, with a net loss of $1.1 million. The company's gross margin declined as costs of materials and labor reached $25,549. Operating expenses increased 70% to $1.03 million due to additional overhead costs supporting future expansion and public company compliance requirements.The company successfully completed its IPO in December 2023, raising net proceeds of $8 million. As of June 30, 2024, INNO Holdings maintained $1.89 million in cash and reported a working capital position of $1.27 million. The company's backlog stands at approximately $14-19 million, including a significant $15.88 million agreement with Vision Opportunity Fund LP.Management faces challenges including Nasdaq listing compliance after receiving notice in April 2024 regarding minimum bid price requirements. The company must regain compliance by October 9, 2024, to maintain its listing. Additionally, substantial doubt exists about the company's ability to continue as a going concern, as current cash levels may not be sufficient to fund operations for the next twelve months.