Tue, May 14, 6:50 PM (254 days ago)
American Picture House Corporation's Form 10-Q for the quarter ended March 31, 2024, reveals significant financial challenges. The company reported a net loss of approximately $1.5 million, a substantial increase from the $52,340 loss in the same period in 2023. Revenues declined sharply to $23,003 from $169,111, primarily due to a reduction in consulting services. Operating expenses surged to $1.5 million, driven mainly by $1.26 million in stock option compensation. Cash and cash equivalents decreased to $25,126 from $203,971 at the end of 2023. The company's working capital deficit stands at $270,351, and it faces ongoing liquidity issues, raising doubts about its ability to continue as a going concern. Financing activities provided $265,000, including $250,000 from related-party loans. The company is exploring additional financing to sustain operations.