Wed, Apr 16, 10:03 AM (30 days ago)
### Summary of Financial Performance **Revenue**: The company reported $0 in revenue for the fiscal year ended December 31, 2024. The revenue from entrepreneurship development initiative, principal transactions, and EDI interest revenue was $664,613 for the year ended December 31, 2023. **Net Income**: Net income for the year ended December 31, 2024 was $1,462,828 compared to $496,026 for the year ended December 31, 2023. This increase is primarily due to a one-time income of $1,562,067 from the disposition of an operating unit. **Operating Expenses**: Operating expenses were $99,239 for the year ended December 31, 2024, compared to $379,844 for the year ended December 31, 2023. These expenses include costs related to corporate governance, market research, business development activities, and professional fees. **Accumulated Deficit**: As of December 31, 2024, the company has an accumulated deficit of $17,928,164, compared to $15,898,383 as of December 31, 2023. ### Strategic Overview **Business Model**: The company operates and manages a portfolio of Electric Vehicles, Artificial Intelligence, Machine Learning, and Robotics (EV-AI-ML-R) assets. The strategic focus is on acquiring and managing EV businesses, with a secondary focus on Power Controls, Battery Technology, Wireless Technology, and Residential utility meters. **Acquisition Strategy**: The company aims to identify and acquire EV companies that exhibit potential for significant growth. The acquisition criteria include demonstrated market leadership, operational platforms, and attractive risk-adjusted returns for shareholders. ### Future Outlook **Capital Raising**: The company plans to raise additional capital to fund its operations and strategic initiatives. This includes seeking debt or equity financing to meet working capital requirements and execute the capital program for the next 12 months. **Operational Focus**: The company will continue to evaluate its projected expenditures relative to available cash and seek additional means of financing. The focus will be on buying, rehabilitating, and selling properties to finance the electric vehicles business plan. ### Risk Factors **Financial Condition**: The company's financial statements are prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The company has zero cash flows from operations for the twelve months ended December 31, 2024 and 2023, raising substantial doubt about its ability to continue as a going concern. **Market Position Changes**: The company's stock is thinly traded, and there is no assurance that it will satisfy the listing requirements for more widely-traded and liquid markets. The market price of the common stock is particularly volatile due to the company's status as a relatively unknown company with a small and thinly traded public float, limited operating history, and lack of profits. **Regulatory Risks**: The company is subject to various laws, ordinances, and regulations, including those related to zoning, land use, water rights, wastewater, storm water runoff, and lien sale rights and procedures. Noncompliance with these regulations could result in significant unanticipated expenditures, loss of properties, or other impairments to operations. **Operational Risks**: The company's success depends on its ability to identify, attract, hire, train, and retain qualified creative, technical, and managerial personnel. Competition for such personnel is intense, and the company often hires individuals on a project-by-project basis. **Financial Risks**: The company's level of debt and the limitations imposed by debt agreements could have significant material and adverse consequences, including the risk of default and the need to dispose of properties on disadvantageous terms. **Market Risks**: The company's operating results may fluctuate significantly due to factors outside of its control, including general economic conditions, changes in business cycles, and geopolitical events. **Legal Risks**: The company may be subject to various lawsuits, claims, disputes, and investigations, which could be expensive and time-consuming. An adverse resolution of any legal proceedings could adversely affect the company's business, operating results, and financial condition. **Cybersecurity Risks**: The company relies on technology to run its business and is subject to risks from cyber incidents, including cyber attacks attempting to gain unauthorized access to its systems to disrupt operations, corrupt data, or steal confidential information. **Environmental, Social, and Governance (ESG) Risks**: The company is committed to sustainability and social responsibility, which includes considering the environmental impacts of its business activities. The company has a dedicated in-house team that initiates and applies sustainable practices in all aspects of its business. **Ticker**: NIHK