Wed, May 15, 8:57 PM (72 days ago)
Real Brands Inc. reported a net loss of $152,067 for Q1 2024, a notable improvement from the $752,577 loss in Q1 2023. The company had no revenue in Q1 2024, compared to $22,247 in Q1 2023, due to challenges in expanding its wholesale network. Operating expenses decreased significantly to $114,384 from $724,596, primarily due to lower stock option expenses. Cash and cash equivalents dropped to $22,422 from $79,345 at the end of 2023, with a working capital deficit widening to $2,548,889. The company’s liquidity remains a concern, relying heavily on potential equity and debt financing. Future operations may be impacted by the need for additional capital and the success of its new business plan, including the recent acquisition of Vapor Shark assets.