Tue, Apr 15, 1:20 PM (12 days ago)
**Baltic International USA, Inc. (BISA) 10-K Summary** **Financial Performance (in 000s):** - **Revenue:** $0 for 2024 and 2023. - **Net Income:** $(25,332) for 2024 and $(25,305) for 2023. - **Operating Expenses:** $15,623 for 2024 and $15,622 for 2023. - **Earnings Per Share:** $(0.02) for both 2024 and 2023. **Strategic Overview:** - Baltic is a shell company seeking a business combination to achieve long-term growth. - The company has no significant assets or operations and has not generated revenue since March 2003. - Baltic plans to investigate and acquire a target company or business seeking the advantages of being publicly held. **Future Outlook:** - The company's primary objective is to achieve growth through a business combination rather than immediate earnings. - Baltic will not restrict potential target companies to any specific business, industry, or geographical location. - The company anticipates incurring costs related to filing Exchange Act reports and consummating an acquisition. **Risk Factors:** - Minimal assets and no operations or revenues for approximately the last three years. - Potential conflicts of interest between management and non-management shareholders. - Highly speculative nature of proposed operations. - Significant competition for business opportunities and combinations. - Impracticability of conducting exhaustive investigations prior to any business combination. - Substantial doubt about the company's ability to continue as a going concern. - Reporting requirements may delay or preclude an acquisition. - No plans to diversify operations in the event of a business combination. - Any business combination will likely result in a change in control and management. - Federal and state taxation rules could adversely affect any business combination. - Potential reliance on unaudited financial statements. - Possible subject to further government regulation. **Financial Condition:** - Working capital deficit of $(4,994,685) at December 31, 2024. - Shareholders' deficit of $(4,994,685) at December 31, 2024. - Cash of $2,976 at December 31, 2024. - Accumulated deficit of $(18,955,933) at December 31, 2024. **Market Position Changes:** - The company's common stock is traded on the over-the-counter (OTC) market and quoted on the Pink Sheets under the symbol "BISA." - As of March 31, 2025, the last sales price for the common stock was $0.0151, with approximately 1,000 beneficial holders. - The company has not paid and does not intend to pay cash dividends on its common stock.