10-Q - ADM ENDEAVORS, INC. (0001588014) (Filer)

Mon, May 20, 9:08 PM (56 days ago)

ADM Endeavors, Inc. (ADM) reported its financial results for the quarter ending March 31, 2024. The company experienced a significant increase in revenue, totaling $1,056,138, up 65% from $640,444 in Q1 2023. This growth was driven primarily by newly acquired government contracts. Operating expenses rose to $1,115,301 from $794,757, reflecting increased direct costs and general administrative expenses due to the acquisition of Innovative Impressions and servicing new contracts. Despite these higher costs, the net loss improved to $64,136 from $110,597 in the previous year. Cash flow from operations decreased to $39,991 from $166,500, while cash used in investing activities was $135,544, slightly up from $131,414. Financing activities saw a net cash outflow of $27,894 compared to an inflow of $50,566 in the prior year. The balance sheet showed a slight decrease in total assets to $4,779,316 from $4,852,991 at the end of 2023, with cash holdings declining to $177,964. Current liabilities decreased marginally to $845,200, while stockholders' equity fell to $2,660,390. The company continues to face challenges in maintaining effective internal controls over financial reporting. Future operations will likely require additional capital through debt or equity financing.