Wed, Aug 21, 5:00 PM (146 days ago)
For the quarter ended June 30, 2024, Sunstock, Inc. reported revenues of $3,006,739, a decrease from $3,158,247 in the same quarter of 2023, primarily due to the CEO's medical leave. Cost of sales also decreased to $2,813,020, contributing to a gross profit of $193,719, up from $34,190 a year prior. The company achieved a net income of $261,444, reversing a loss of $160,511 in Q2 2023, driven by unrealized gains on precious metals investments totaling $131,920 compared to a loss last year. As of June 30, 2024, total assets increased to $2,512,712 from $2,148,013, while total liabilities rose to $879,609, reflecting ongoing cash flow challenges. The accumulated deficit stands at $65,647,268, raising substantial doubt about the company's ability to continue as a going concern. Cash on hand decreased to $5,682 from $13,790 at year-end 2023. The company continues to seek additional financing to support operations and address liquidity issues. Overall, while the company showed improved profitability in Q2, ongoing uncertainties and cash flow issues remain critical concerns for stakeholders.