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Crypto Co (CRCW+23.08%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in revenue to $10,299 from $124,195 in the same quarter the previous year. This decrease is attributed to less demand for blockchain training services.
General and administrative expenses for the quarter increased to $309,364 from $244,183 in the previous year, primarily due to higher professional services costs.
Share-based compensation for the quarter was $281,088, compared to $113,818 in the previous year.
Interest expense decreased to $76,807 from $99,306 in the previous year, attributed to fewer issuances of warrant debt discounts.
Net loss for the quarter was $102,145, compared to $358,845 in the previous year.
Cash used in operating activities for the nine months ended September 30, 2024, was $1,395,798, compared to $763,615 in the previous year.
Cash provided by financing activities for the nine months ended September 30, 2024, was $1,329,490, compared to $673,444 in the previous year.
Crypto Co had a working capital deficit of $6,027,288 as of September 30, 2024. The company acknowledges substantial doubt about its ability to continue as a going concern.
The filing also details various financial agreements, including multiple promissory notes with AJB Capital Investments, LLC.
The company continues to focus on its blockchain consulting and educational services, while acknowledging challenges in the competitive and rapidly changing blockchain technology market.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Crypto Co quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.