Ilustrato Pictures Internationl Inc (ILUS) reports earnings

The report was filed on November 19, 2024

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Ilustrato Pictures International Inc (ILUS-5.56%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.

The filing includes financial statements for the quarter, showing an increase in revenue to $8,672,940 from $5,586,439 in the same period the previous year. The increase in revenue is attributed to the acquisition of Al Shola Gas in the industrial and manufacturing division.

Operating expenses for the nine months ended September 30, 2024, decreased to $7,612,493 from $9,676,392 in the previous year. This decrease is mainly due to reduced administrative and operating costs associated with the business activities of subsidiaries QIND and SAML.

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The company reported a net loss of $4,167,668 for the nine months ended September 30, 2024, compared to a net loss of $7,972,443 in the previous year. The decrease in net loss is attributed to the reported profit from Al Shola Gas and a reduction in operating expenses.

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Ilustrato Pictures International Inc had total current assets of $17,706,005 and total current liabilities of $14,187,480 as of September 30, 2024, resulting in a positive working capital of $3,518,525.

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Cash provided by operating activities was $4,744,254, while cash used in investing and financing activities was $(8,983,206) and $4,364,785, respectively.

The filing also details various financial agreements, including several convertible notes with RB Capital Partners Inc. and TwnBrooks Inc.

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Ilustrato Pictures International Inc continues to focus on expanding its portfolio of operating companies and plans to acquire additional emergency response and industrial companies. The company also intends to complete the reverse mergers of its subsidiaries SAML and QIND with National Exchange-listed companies in the second half of 2024.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Ilustrato Pictures Internationl Inc quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.