Tue, Nov 19, 9:47 PM (83 days ago)
Palisades Venture, Inc. (Ticker: N/A) reported a mixed financial performance for the third quarter ending September 30, 2024. Revenue increased to $43,951 from $37,522 year-over-year, while gross profit surged to $36,014 due to a significant reduction in cost of sales, which fell to $7,937 from $22,740. However, operating expenses rose sharply to $32,743, driven by increased overhead and CEO compensation, resulting in a net loss of $5,136, an improvement from the $12,133 loss in Q3 2023. For the nine-month period, total revenue reached $133,623, up from $101,954, with net income of $6,310 compared to $2,702 in the prior year. Despite these gains, the company faces liquidity challenges, reporting a cash balance of $957 and a working capital deficit of $29,717. Total liabilities decreased slightly to $340,823, but an accumulated deficit of $422,634 raises concerns about going concern viability. The company plans to raise funds through stock sales or private placements to support operations. Overall, while revenue growth is promising, rising expenses and liquidity risks warrant caution for investors.