Fri, Oct 11, 10:05 AM (271 days ago)
For the quarter ended September 30, 2024, Artisan Consumer Goods, Inc. (ARRT) reported a net loss of $8,692, compared to a loss of $5,935 in the prior year, indicating a worsening financial position. Revenue remained stagnant at $0, attributed to expired inventory and ongoing challenges in securing a new manufacturer for their Within / Without Granola brand. Total operating expenses surged to $12,194 from $3,700, largely due to increased professional fees. Cash flow analysis revealed a net cash outflow from operations of $10,532, with financing activities providing $10,000 from related party advances. As of September 30, 2024, the company held $1,263 in cash, with total liabilities of $288,543, resulting in a working capital deficit of $287,280. The company faces significant liquidity risks and must raise at least $100,000 to sustain operations. Management's ability to continue as a going concern hinges on future capital raises, which remain uncertain. The accumulated deficit reached $19,285,853, raising concerns about the company's long-term viability. Overall, Artisan Consumer Goods, Inc. continues to face operational and financial challenges that could impact future growth and stability.