Fri, Mar 28, 6:02 PM (30 days ago)
**Leet Technology Inc. (LTES) - Financial Summary** **Financial Performance:** - **Revenue:** Increased by 125.3% to $715,288 for the year ended December 31, 2024, from $317,413 in 2023. - **Net Income:** Decreased 99.9% to $894 for the year ended December 31, 2024, from $1,383,447 in 2023. - **Operating Expenses:** General and administrative expenses decreased by 60.3% to $473,155 for the year ended December 31, 2024, from $1,193,173 in 2023. - **Cash Flow:** Net cash used in operating activities was $568,370 for the year ended December 31, 2024, compared to $1,316,149 in 2023. **Strategic Overview:** - **Business Focus:** Transitioned from manufacturing Breath Alcohol Ignition Interlock Devices to eSports, focusing on the Southeast Asian market. - **Products:** Maverick (white-label platform) and Matchroom (flagship eSports platform). - **Partnerships:** Collaborations with major telecommunication providers like Smart Communications and Axiata Group. - **Market Strategy:** Emphasis on B2B model with mobile network operators and subscription-based services. **Future Outlook:** - **Expansion Plans:** Aiming to cover Southeast Asia, South Asia, and potentially expand to Vietnam, Nepal, Middle East, and Africa. - **Technological Enhancements:** Focus on platform improvements, user experience, and integration with mobile carriers. **Risk Factors:** - **Financial Stability:** Significant working capital deficit and accumulated deficit, raising substantial doubt about the ability to continue as a going concern. - **Market Competition:** High competition in the eSports industry, with potential impacts on profit margins. - **Operational Risks:** Dependence on key personnel and the need for continuous technological advancements. **Financial Condition:** - **Liquidity:** Cash and cash equivalents of $33,248 as of December 31, 2024, insufficient to support operations without additional financing. - **Debt and Equity:** Significant related party transactions and outstanding liabilities. **Market Position Changes:** - **Stock Performance:** Listed on the OTC Pink-tier of OTC Markets under the symbol “LTES,” with volatile stock prices. - **Shareholder Base:** 151,096,262 shares of common stock outstanding as of March 28, 2025. **Summary:** Leet Technology Inc. has shown significant revenue growth but faces substantial financial challenges and operational risks. The company's strategic focus on the eSports industry and partnerships with major telecommunication providers positions it for potential market expansion, but its financial stability remains a critical concern.