Fri, May 30, 8:22 PM (23 days ago)
**Scores Holding Company, Inc. (SCRH) Q1 2023 Financial Summary** **Financial Health and Performance:** - **Revenue:** Q1 2023 revenue was $73.5K, down from $414K in Q1 2022 due to the recognition of previously deferred income under ASC 606 in 2022. - **Profit Margins:** Operating loss was $22.5K in Q1 2023, compared to an operating income of $315.964K in Q1 2022. Net loss was $22.9K in Q1 2023, compared to net income of $311.442K in Q1 2022. - **Cash Flow:** Net cash provided by operating activities was $5.645K in Q1 2023, down from $385.779K in Q1 2022. Cash and cash equivalents increased to $13.245K from $7.6K. - **Earnings Changes:** Net loss per share was $0.00 in Q1 2023, compared to net income per share of $0.002 in Q1 2022. **Trends and Uncertainties:** - **COVID-19 Impact:** The company believes the worst effects of the COVID-19 pandemic are over, with all royalty-paying licensees reopened and cash collections increasing. - **Going Concern:** The company faces substantial doubt about its ability to continue as a going concern due to accumulated losses and working capital deficit. - **Legal Proceedings:** Several legal proceedings are ongoing or recently settled, impacting the company's financial condition. **Future Operations:** - **Licensing Strategy:** The company plans to continue licensing its brand to new operators to raise additional working capital. - **Capital Requirements:** The company may need to raise additional funds to support expansion, develop new services, or respond to competitive pressures. **Ticker:** SCRH **Summary:** Scores Holding Company, Inc. faced a challenging Q1 2023 with significant revenue and net income declines compared to Q1 2022. The company is navigating uncertainties related to the COVID-19 pandemic and legal proceedings while focusing on its licensing strategy to secure future operations. The going concern status highlights the need for additional working capital to support ongoing and planned activities.