10-K - GOLD ROCK HOLDINGS, INC. (0000894501) (Filer)

Tue, Mar 25, 4:36 PM (33 days ago)

**Gold Rock Holdings, Inc. (GRHI) FY 2024 Financial Summary** **Financial Performance:** - **Revenue:** $138,500 (2024) vs. $0 (2023) - **Net Income:** ($240,694) (2024) vs. ($232,311) (2023) - **Operating Expenses:** $379,194 (2024) vs. $232,311 (2023) - **Earnings per Share:** ($0.00) (2024 & 2023) **Strategic Overview:** - **Business Model Shift:** Transitioned from engineering and construction management to acquiring and managing technological assets. - **Subsidiaries:** Formed LOOT8, Inc. for Web3 commerce and content management, and K-Project for AI applications. - **Revenue Streams:** Plans include direct-to-consumer, youth market, and enterprise models leveraging AI and blockchain technologies. **Future Outlook:** - **Growth Strategy:** Focus on mergers, acquisitions, and expanding AI and blockchain innovations. - **Market Position:** Aims to establish itself in the Web3 and AI sectors through unique monetization models and strategic partnerships. **Risk Factors:** - **Financial Condition:** Significant operating losses and dependence on additional financing raise substantial doubt about the company's ability to continue as a going concern. - **Market Risks:** Volatile and competitive environment in the tech sector, rapid technological change, and dependence on key personnel. **Market Position Changes:** - **Stock Performance:** Common stock traded on OTCMARKETS under the symbol "GRHI" with varying prices throughout 2023 and 2024. - **Shareholder Base:** Approximately 170 stockholders of record, with significant ownership by key executives. **Financial Condition:** - **Assets:** $253,614 (2024) vs. $108 (2023) - **Liabilities:** $78,400 (2024) vs. $9,900 (2023) - **Accumulated Deficit:** $1,106,731 (2024) vs. $866,037 (2023) **Key Financial Metrics:** - **Cash Position:** $209,614 (2024) vs. $108 (2023) - **Working Capital:** $175,214 (2024) vs. ($9,792) (2023) - **Cash Flows:** Net cash used in operations was ($216,194) (2024) vs. ($22,586) (2023). **Management and Governance:** - **Executive Changes:** Marcus Daley became CEO in October 2023, Anthony Denkinger appointed COO in February 2025. - **Board Composition:** Includes Marcus Daley, Richard Kaiser, Merle Ferguson, and Anthony Denkinger. **Conclusion:** Gold Rock Holdings, Inc. is in a critical phase of transitioning its business model and expanding into new technological sectors. While facing significant financial challenges, the company aims to leverage its strategic initiatives and partnerships to achieve growth and profitability. Investors should closely monitor the company's ability to secure additional financing and execute its business plan.