Mon, Jul 15, 8:33 PM (54 days ago)
DarkPulse, Inc. filed its annual report for the fiscal year ended December 31, 2023. The company reported total revenues of $2,020,971, a significant decrease from $9,100,255 in 2022, primarily due to lower revenues from key subsidiaries. The cost of revenues was $2,446,756, resulting in a gross loss of $425,785. Operating expenses saw reductions, with selling, general, and administrative expenses dropping by 59% to $2,033,861 and salaries decreasing by 65% to $2,630,225. The company recorded substantial impairments in goodwill and intangible assets amounting to $6,948,350. Additionally, a loss on deconsolidation of $1,642,795 was recognized due to the liquidation of its subsidiary, Optilan (UK) Limited. As a result, the net loss for the year was $21,723,043, compared to $35,517,505 in 2022. DarkPulse's liquidity remains a concern, with cash of $11,912 as of December 31, 2023, and significant current liabilities exceeding current assets by $18,126,281. The company is actively seeking additional financing to support its operations and strategic objectives. Risk factors include the impact of geopolitical events, cybersecurity threats, and the need for substantial capital to sustain operations.