Mon, Jul 8, 7:29 PM (250 days ago)
CMG Holdings Group, Inc. reported a net loss of $73,614 for Q1 2024, an improvement from the $97,216 loss in Q1 2023. Revenue increased to $315,420 from $159,614, while cost of revenue rose to $263,196 from $129,491. Operating expenses remained stable at $148,588. The company’s cash position decreased to $174,634 from $240,598 at year-end 2023. Total liabilities slightly decreased to $1,318,575. The company’s stockholders' deficit improved to $537,748. The company faces ongoing liquidity challenges and significant internal control weaknesses. Future operations depend on improved revenue and cost management.