Mon, Jun 30, 8:08 PM (13 days ago)
**Summary of Bespoke Extracts, Inc. (BESP) Q1 2025 Financial Performance** **Revenue & Profitability:** - Revenue increased slightly to $263,159 from $260,428 in Q1 2024, driven by direct sales of branded pre-rolled joints and joint production services. - Gross profit improved to $110,779 from $102,581, with a decrease in cost of goods sold to $152,380 from $157,847. - Operating expenses decreased to $356,117 from $405,384, primarily due to reduced stock-based compensation and salaries. - Net loss narrowed to $260,521 from $314,118, or $0.02 per share from $0.03 per share. **Cash Flow & Liquidity:** - Cash decreased to $30,365 from $60,305, with net cash used in operations at $72,940. - Current liabilities increased to $1,241,535 from $1,118,671, with accounts payable and accrued liabilities at $1,123,600. - The company raised $50,000 in additional debt and repaid $7,000 in notes payable. **Debt & Leases:** - Total debt increased to $2,582,325 from $2,451,026, with notes payable to related parties at $849,500. - Lease liabilities decreased to $73,408 from $86,027, with a reduced monthly base rent effective January 1, 2025. **Going Concern & Risks:** - The company faces substantial doubt about its ability to continue as a going concern due to negative cash flows and a working capital deficit. - It relies on raising additional capital to continue and expand operations, with no committed sources of capital. - The company is subject to legal proceedings and potential claims that could have a material adverse effect on its business. **Future Operations:** - The company plans to expand its focus to regulated cannabis markets in the United States. - It has rebranded its product offerings in Colorado as The Joint Company. - The company's ability to generate profitable operations and secure additional financing is crucial for its future operations. **Ticker:** BESP **Word Count:** 250