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Artisan Beverages Inc. (NFTN-51.38%) has submitted its 10-Q filing for the quarterly period ended January 31, 2025.
The filing indicates that the company has not generated any revenue for the three-month period ended January 31, 2025. Operating expenses for the period amounted to $924, primarily due to professional fees, compared to $11,567 for the same period in the previous year.
The company reported a net loss of $924 for the quarter, compared to a net loss of $11,567 in the previous year. The decrease in net loss is attributed to reduced professional fees.
As of January 31, 2025, Artisan Beverages had a working capital deficit of $157,363 and no cash. The company relies on loans from its president and shareholders for operating capital.
The filing highlights that the company has not commenced any exploration activities and remains in the exploration stage. The company acknowledges a substantial doubt about its ability to continue as a going concern.
Artisan Beverages plans to focus on its principal business of producing ready-to-drink cocktails under the TGI Fridays brand. The company aims to expand its distribution network by entering agreements with manufacturers and distributors.
The company anticipates spending $25,000 on professional fees, $5,000 on general administrative costs, and $1,500 on working capital over the next 12 months.
No off-balance sheet arrangements were reported, and the company is not involved in any material litigation.
The company noted that its disclosure controls and procedures were not effective as of January 31, 2025. No changes in internal controls over financial reporting were reported during the quarter.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Artisan Beverages Inc. quarterly 10-Q report dated March 18, 2025. To report an error, please email earnings@qz.com.