Mon, Aug 19, 8:52 PM (148 days ago)
Sentient Brands Holdings Inc. reported significant financial challenges for the quarter ending June 30, 2024. The company generated no revenue, reflecting a strategic pivot towards product development and marketing preparations. Operating expenses surged to $161,169, primarily due to increased legal and management fees associated with potential transactions, leading to a net loss of $225,154 for the quarter, compared to a loss of $89,711 in the previous year. Total assets decreased to $174,997, with current liabilities at $2,147,913, resulting in a working capital deficit of $2,062,774. Cash flow from operations was negative at $178,666, highlighting ongoing liquidity issues. The company’s accumulated deficit reached $4,175,288, raising substantial doubt about its ability to continue as a going concern without additional financing. Management emphasized the need for capital to support operational viability and future growth plans, including the launch of its luxury CBD skincare line, Oeuvre. The financial outlook remains uncertain, contingent on successful fundraising efforts and execution of its business strategy.