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Nightfood Hldgs Inc (NGTF) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing an increase in revenues to $15,141 from $898 in the same quarter the previous year. The increase is attributed to a shift to direct-to-consumer sales, eliminating slotting fees.
Operating expenses for the quarter were $251,666, up from $120,965 in the previous year, driven by increased advertising and professional fees.
The company reported a net loss of $479,606 for the quarter, compared to $422,034 in the previous year. The increase in net loss is attributed to higher operating expenses.
Interest income for the quarter was $29,643, while interest expenses related to debt and financing costs were $211,179 and $2,050, respectively.
Cash used in operating activities was $270,240 for the six months ended December 31, 2024, compared to $348,749 in the previous year.
Cash used in investing activities was $262,763, primarily for acquisition costs secured by promissory notes and equipment purchases.
Cash provided by financing activities was $402,050, raised through the issuance of convertible notes.
Nightfood Hldgs Inc has a working capital deficit of $5,839,806 as of December 31, 2024, and acknowledges its dependence on raising additional funds through debt and equity financing.
The filing also details the company's acquisition of Future Hospitality Ventures Holdings Inc and ongoing negotiations for additional acquisitions.
Nightfood Hldgs Inc continues to focus on expanding its operations in the Robots-as-a-Service space and enhancing its direct-to-consumer sales strategy.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nightfood Hldgs Inc quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.