Wed, Jun 26, 9:24 PM (73 days ago)
James Maritime Holdings Inc. filed an amendment to its 10-K for the fiscal year ended December 31, 2023, correcting the issue date of the auditors' 2022 audit letter. The company, operating through its subsidiaries Gladiator Solutions Inc. and United Security Specialists Inc. (USS), reported net sales of $8.82 million in 2023, up from $4.06 million in 2022. The net loss for 2023 was $2.62 million, compared to a net income of $113,445 in 2022. The cost of revenue increased to $6.05 million from $3.21 million, and general and administrative expenses were $3.54 million, up from $3.16 million. The company faces substantial doubt about its ability to continue as a going concern, with plans to raise funds through equity sales and potential acquisitions. Total liabilities rose slightly to $3.73 million, and the accumulated deficit increased to $13.92 million. The amendment did not make any other material changes.