Mon, Jul 15, 9:23 PM (54 days ago)
Indoor Harvest Corp's amended 10-K/A for the fiscal year ended December 31, 2023, highlights several key financial and operational changes. The company reported no revenue for 2023 and 2022. Operating expenses decreased by 42% to $1.97 million in 2023, primarily due to lower general and administrative expenses. Despite this, the net loss was $3.26 million, a slight improvement from the $3.36 million loss in 2022. The company’s working capital deficiency worsened to $1.29 million, reflecting increased current liabilities from accrued expenses and convertible notes. Strategic changes include a focus on mergers and acquisitions in the plant-based and hemp industries. Risk factors include regulatory uncertainties and financial instability. The company is actively seeking new capital to support its growth strategy.