10-K - Carriage House Event Center, Inc. (0001798458) (Filer)
Tue, Jan 28, 9:04 PM (17 days ago)
Carriage House Event Center, Inc. (CRGH) reported no revenue for the fiscal years ended December 31, 2024, and 2023, with net losses increasing from $15,434 in 2023 to $27,105 in 2024. Operating expenses rose by 75.6% to $27,105, primarily due to advisory fees related to obtaining DTC eligibility. The company has accumulated a deficit of $187,049 as of December 31, 2024, and its cash balance stood at $31,901, with $184,800 in loans payable to related parties. The company aims to develop an event center, hindered by the COVID-19 pandemic and delays in capital raising efforts. A letter of intent to purchase a property in Arizona remains open, with anticipated completion in Q1 2025. The firm is classified as an emerging growth company, allowing it to forgo certain disclosure requirements. Risks include a lack of operational history, reliance on related party financing, and a competitive market landscape. Management expresses substantial doubt about the company’s ability to continue as a going concern, emphasizing the need for additional financing to sustain operations and achieve profitability.