10-Q/A - DarkPulse, Inc. (0000866439) (Filer)

Thu, Dec 12, 9:48 PM (36 days ago)

DarkPulse, Inc. (ticker: DPLS) reported significant financial challenges in its 10-Q/A for the quarter ending September 30, 2024. Revenue plummeted to $30,671 from $82,071 in the same period last year, primarily due to the deconsolidation of its subsidiary, Optilan (UK) Limited. The company incurred a net loss of $590,898 for the quarter, contributing to an accumulated deficit of $70,910,772. Operating expenses decreased to $589,434, reflecting cost-cutting measures, including reduced salaries and professional fees. However, the gross profit margin improved to 100% due to negligible cost of revenues. Cash flow from operations remained negative at $29,782, underscoring liquidity issues, with current liabilities exceeding current assets by $20,535,285. The company is actively seeking additional funding to support operations and growth, facing substantial doubt about its ability to continue as a going concern. Future operations depend on successful capital raising efforts, as management pursues strategic partnerships to enhance product offerings and revenue generation.