Company: BSAI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000818
Chunk: 64

Company: BLUSKY AI INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 2
Chunk 64
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, 2025  December 31, 2024 Current assets $3,000  $- Current liabilities  3,174,461   3,346,850 Working capital deficit $(3,171,461) $(3,346,850)

 5Table of Contents

We anticipate generating losses and, therefore, may be unable to continue operations in the future, if we don’t acquire additional capital and issue debt or equity or enter into a strategic arrangement with a third party.

Going Concern Consideration

As reflected in the accompanying unaudited condensed financial statements, the Company and has an accumulated deficit of $29,687,975. In addition, there is a working capital deficit of $3,171,461 as of March 31, 2025. This raises substantial doubt about its ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to raise additional capital and implement its business plan. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

  Three Months Ended   March 31, 2025  March 31, 2024 Net Cash Provided by (Used in) Operating Activities $(37,271) $(32,808)Net Cash Provided by (Used in) Investing Activities  -   - Net Cash Provided by (Used in) Financing Activities  37,271   32,818 Net Increase (Decrease) in Cash $-  $10 

Operating Activities

Net cash flow used in operating activities during the three months ended March 31, 2025 was $37,271, an increase of $4,463 from the $32,808 net cash used during the three months ended March 31, 2024. This increase in the cash used in operating activities was primarily due to the gain on forgiveness of debt offset with a increase in accounts payable and accrued liabilities for the current period.

Investing Activities

Investing activities during the three months ended March 31, 2025 provided $0, a decrease of $0 from the $0 provided by investing activities during the three months ended March 31, 2024. 

Financing Activities

Financing activities during the three months ended March 31, 2025 provided cash of $37,271, an increase of $4,453 from the $