Financial Performance - Quarterly revenue was 2.4million,aligningwithprojections,andfull−yearrevenuereached5.4 million for 2024[1][3] - The company incurred a net quarterly loss of 5.8million,or7.26 per diluted share, an improvement from a loss of 11.4millionand3,214.88 per share in the same period of 2023[3] - Adjusted EBITDA loss for the quarter was 1.9million,reflectinga425,380 million, compared to 962millionin2023,representingayear−over−yeargrowthof46034,934 million, compared to 51,373millionin2023,reflectingadecreaseof322,046 million, a significant increase from 72millioninQ42023[23]−TotaloperatingexpensesfortheyearendedDecember31,2024,were26,407 million, down from 48,952millionin2023,indicatingareductionof46410 million, an improvement from a gross loss of 1,618millioninQ42023[23]BalanceSheetandCashFlow−Stockholders′equitystoodat7.1 million at year-end 2024[1] - Cash and cash equivalents at the end of Q4 2024 were 138million,comparedto0 in Q4 2023[25] - Total assets increased to 34,170millionasofDecember31,2024,upfrom16,802 million in 2023, marking a growth of 103%[25] - Total liabilities rose to 27,055millionin2024,comparedto22,354 million in 2023, an increase of 21%[25] - The company reported a net cash used in operating activities of 14,812millionfortheyearendedDecember31,2024,slightlyimprovedfrom15,427 million in 2023[27] Strategic Outlook - The company anticipates more than 50millioninproformarevenuefor2025,supportedbypendingacquisitions[1][5]−Thecompanyisfocusedonexpandingitsinternationaldistributionandsalesnetworktodriveorganicrevenuegrowth[5]−Thefinancialresultsreflectthecompany′songoingeffortstoexecuteitsacquisitionstrategyfor2025[5]−Thecompanycontinuestoenhanceitsbalancesheetandstabilizeitslisting[5]−Thecompanyplanstoprovidefurtherdetailsonitsstrategyandperformanceinitsupcomingquarterlyshareholderletter[5]AcquisitionActivities−ThecompanyissuedcommonstockandseriesBpreferredstockfortheacquisitionofbusinessvaluedat3,969 million[27]
