10-Q - Bespoke Extracts, Inc. (0001409197) (Filer)

Wed, Nov 13, 10:26 PM (63 days ago)

Bespoke Extracts, Inc. (BESPOKE) reported its Q3 2024 results, highlighting a revenue increase to $277,471 from $244,408 in Q3 2023, driven by higher sales of pre-rolled joints. However, the company incurred a net loss of $275,613 compared to $301,529 the previous year, reflecting improved operational efficiency. For the nine months ended September 30, 2024, total sales reached $816,062, up from $521,671, while the net loss narrowed to $850,626 from $1,213,756 in the prior year. Operating expenses decreased to $377,463 for Q3 2024, largely due to reduced stock-based compensation. Current liabilities surged to $1,727,778, significantly impacting liquidity, with cash on hand at $21,445. The company continues to face substantial doubt regarding its ability to sustain operations amid ongoing cash flow challenges and an accumulated deficit of $26,217,267. Future operations hinge on securing additional capital, as management seeks to expand within regulated cannabis markets. The report underscores the need for strategic financing to address the working capital deficit and enhance operational stability moving forward.