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Freedom Hldg Inc (FHLD-8.82%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenues of $14,793,455, primarily from solar installation projects following the acquisition of The Awareness Group (TAG) in September 2024.
Total costs of goods sold for the period were $7,252,317, also related to the solar projects, resulting in a gross margin of $7,541,138.
Operating expenses for the quarter were $226,806, an increase attributed to the TAG acquisition. This includes salaries, wages, and other recurring expenses.
Net income for the quarter was $7,292,314, a significant increase from the net loss of $3,254 reported in the same period the previous year.
Total assets at the end of the quarter were $44,698,089, up from $30,270,399 at the end of the previous quarter. This increase is largely due to unbilled receivables and other assets related to the TAG transaction.
Total liabilities were reported at $14,509,494, compared to $7,237,174 in the previous quarter, primarily due to accrued project costs.
The company reported a working capital surplus of $6,034,851, which it plans to use to support ongoing operations.
The report notes that while the company generated positive cash flow from operations, it may require additional funding for growth initiatives, raising concerns about its ability to continue as a going concern.
No material legal proceedings are pending against the company, and no unregistered sales of equity securities were reported during the period.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Freedom Hldg Inc quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.