Tue, Jul 16, 7:46 PM (53 days ago)
DLT Resolution, Inc. reported a net income of $27K for Q3 2023, a significant improvement from a net loss of $19K in Q3 2022. This was primarily due to reduced professional fees and the absence of losses from discontinued operations. Revenue declined to $34K in Q3 2023 from $61K in Q3 2022, attributed to fewer customers and lower revenue per customer. Operating expenses also decreased to $50K from $74K in the same period. The company recorded a gain of $846K from the sale of Union Strategies, Inc. and DLT Data Services Inc. in 2023. As of September 30, 2023, DLT Resolution had a working capital deficit of $149K with total current assets of $213K and liabilities of $362K. The company continues to face liquidity challenges and has plans to raise additional equity financing. The financial statements highlight substantial doubt about the company's ability to continue as a going concern due to recurring losses and negative cash flow.