Financial Performance - For the nine months ended September 30, 2024, the company reported a net loss of 1,909,993,asignificantimprovementfromanetlossof7,311,359 in the same period of 2023, marking a reduction of approximately 74%[112]. - Revenue for the three months ended September 30, 2024, increased by 698,461,or532,011,772 compared to 1,313,311inQ32023,drivenbyacquisitions[125].−TotalrevenuefortheninemonthsendedSeptember30,2024,was5,325,273, a 34% increase from 3,975,088inthesameperiodof2023,primarilyduetotheRevenueZenandDDSRankacquisitions[131].−TotalrevenuefortheninemonthsendedSeptember30,2024,was2,139,831, an increase of 571,242or36696,715 for the nine months ended September 30, 2024, down from 2,160,796inthesameperiodof2023,indicatingimprovedoperationalefficiency[111].−Generalandadministrativeexpensesdecreasedby58,267, or 4%, during Q3 2024 compared to Q3 2023, primarily due to reduced advertising and marketing costs[127]. - General and Administrative expenses decreased by 408,268,or9332,000[134]. - Professional fees decreased by 248,854,or29340,501, or 73%, to 806,097forthethreemonthsendedSeptember30,2024,largelyduetorecentacquisitions[126].−Costofrevenueincreasedby571,242, or 36%, primarily due to a recent acquisition, despite a decrease in digital product sales[132]. - The company’s gross profit margins slightly decreased in the current period compared to the prior period, influenced by increased costs associated with service fulfillment and content creation[126]. Acquisitions and Future Growth - The acquisition of Eastern Standard, completed in October 2024 for 2,160,000,isexpectedtocontributepositivelytoconsolidatedresultsstartingQ42024[119].−Thecompanycontinuestomaintainastrongacquisitionpipelineandisactivelypursuingfurtheraccretiveacquisitionstoenhancegrowth[115].−Thecompanyincurred122,266 in acquisition costs during the nine months ended September 30, 2024, down from 285,532intheprioryear[136].−Thecompanyhasenteredintoassetpurchaseagreementswithcontingentearn−outpaymentstotalingupto1,929,000 based on performance criteria[150]. Cash Flow and Financial Position - Net cash used in operating activities was 696,715fortheninemonthsendedSeptember30,2024,adecreasefrom2,160,796 in the prior year[140]. - Cash flows provided by financing activities were 480,218fortheninemonthsendedSeptember30,2024,comparedtocashusedof269,522 in the prior year[141]. - As of September 30, 2024, cash and cash equivalents totaled $363,244, primarily from capital raised during the IPO[138]. Going Concern - Management has expressed substantial doubt about the company's ability to continue as a going concern due to recurring losses and negative cash flows[139].
