Tue, Nov 19, 8:55 PM (54 days ago)
For the quarter ending September 30, 2024, Elite Performance Holding Corp. (EPH) reported no revenue, a significant decline from $13,433 in the prior year. The company incurred a net loss of $358,322, an improvement from $400,174 in Q3 2023, primarily due to reduced consulting expenses. Total current assets increased to $48,120, while current liabilities rose to $3,345,115, resulting in a working capital deficit of $3,296,995. Cash used in operating activities was $586,973, up from $442,518 year-over-year. The nine-month results reflected a similar trend, with revenues of $681 compared to $40,141 in 2023 and a net loss of $1,089,953, slightly less than the previous year's loss of $1,137,234. Operating expenses decreased, but interest expenses increased due to new notes. The company's accumulated deficit reached $9,880,141, raising substantial doubt about its ability to continue as a going concern. Future operations hinge on raising capital and successfully launching its B.Y.L.T. beverage line amid ongoing market uncertainties.