Fri, Jun 7, 8:03 PM (92 days ago)
Entertainment Holdings, Inc. filed its Form 10-Q for the quarter ended March 31, 2023, highlighting several key financial metrics and operational updates. The company reported no revenue for the period and incurred operating expenses primarily from professional fees ($3,345) and general administrative expenses ($1,112), resulting in a net loss of $4,457 for the quarter. The cumulative net loss for the nine months ended March 31, 2023, was $14,615, compared to $12,070 for the same period in 2022. The balance sheet shows total liabilities of $41,880, with no assets, leading to a stockholders' deficit of the same amount. Cash flow statements indicate no cash inflows or outflows, highlighting the company's reliance on external funding to meet operational expenses. The company is focused on raising debt/equity financing and seeking merger opportunities with entities that can provide growth and value for shareholders. However, the company’s ability to continue as a going concern remains uncertain due to its ongoing losses and lack of revenue. Management is exploring potential acquisitions or joint ventures but has no formal agreements in place as of the report date.