Thu, Jul 11, 3:54 PM (58 days ago)
Farmhouse, Inc. reported a net loss of $116,071 for Q1 2024, an improvement from the $171,315 loss in Q1 2023. Revenue increased to $2,261 from $1,069, driven by license fees from NFT Art License Agreements. Operating expenses decreased significantly due to lower consulting, accounting, and professional fees. Cash flow from operations was negative at $7,397, but improved from the $35,385 used in Q1 2023. The company’s liquidity remains a concern with a stockholders' deficit of $2,078,477 and cash reserves of $446. Management plans to raise additional capital through equity and debt financing to meet future working capital needs. The company is also facing uncertainties regarding the recovery of funds from the sale of its subsidiary, DTLA.