Tue, Jul 16, 10:02 AM (53 days ago)
RiskOn International, Inc. (formerly BitNile Metaverse, Inc.) reported significant financial losses for the fiscal year ended March 31, 2024, with a net loss of $34 million, a notable improvement from the previous year's $87 million loss. The company has a complex and evolving business model, focusing on multiple ventures including BitNile.com, RiskOn360, GuyCare, and askROI. Key developments include the disposal of Zest Labs, Agora's Chapter 7 bankruptcy filing, and the launch of new platforms like askROI. The company faces substantial risks, including the need for additional capital, regulatory challenges, cybersecurity threats, and intense competition. The delisting of its common stock from Nasdaq to the OTCPK Market further complicates its financial and operational landscape. Despite these challenges, RiskOn International aims to innovate and expand across various sectors, leveraging strategic partnerships and new technologies.