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Carriage House Event Center Inc has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reveals that the company has not generated any revenue since its incorporation in 2010. The company's operations have primarily focused on researching the concept of an event center.
As of December 31, 2024, Carriage House Event Center Inc reported a net loss of $27,105, an increase from the previous year's net loss of $15,434. This increase is attributed to higher advisory fees related to DTC eligibility.
The company has a cash balance of $31,901 and loans payable to related parties amounting to $184,800. It remains dependent on related party loans for its operations.
The filing states that the company is classified as an emerging growth company and plans to leverage certain exemptions from disclosure requirements applicable to public companies.
Carriage House Event Center Inc has not yet established profitable operations, and its auditors have expressed doubt about its ability to continue as a going concern.
The company plans to focus on raising additional capital and pursuing the development of an event center. It is also considering potential mergers or acquisitions if it cannot secure the necessary funds.
The impact of the COVID-19 pandemic has been significant on the company's business operations, affecting its ability to raise capital and move forward with its business plan.
A significant transaction occurred on January 22, 2025, when four shareholders, including A. Terry Ray, sold a majority of their shares to Zhonghe Brand Ltd. Following this, A. Terry Ray and Janel Jean-Baptiste resigned from their executive positions.
Carriage House Event Center Inc does not currently pay any compensation to its directors, nor does it have any equity compensation plans in place.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Carriage House Event Center Inc Com annual 10-K report dated January 28, 2025. To report an error, please email earnings@qz.com.