Tue, Dec 3, 10:14 PM (41 days ago)
PishPosh, Inc. (Ticker: N/A), in its Amendment No. 1 to Form 10-K for the fiscal year ended December 31, 2023, reported a revenue decline to $18,014,000 from $21,987,000 in 2022. The net loss widened to $10,433,000, compared to a loss of $5,141,000 the previous year, primarily due to increased operating expenses of $14,199,000 versus $12,342,000 in 2022. The company reported a significant increase in general and administrative expenses, which rose to $8,901,000. The amendment primarily updates disclosures related to convertible notes, reflecting ongoing financial challenges and a going concern warning, as the company has negative cash flows and substantial losses. PishPosh's cash position was approximately $60,000 as of March 28, 2024, raising concerns about its ability to sustain operations beyond May 2024 without additional financing. The company continues to explore equity offerings to raise capital but faces risks including reliance on key vendors and potential liquidity issues. The financial condition remains precarious, with total liabilities exceeding total assets, resulting in a stockholders' deficit of $3,888,000.