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Worlds Inc (WDDD+3.66%) has submitted its annual report on Form 10-K for the fiscal year ended December 31, 2024 filing.
The report details the company's focus on monetizing its collection of non-fungible tokens and legacy celebrity virtual reality worlds. The company continues to explore strategic alliances to leverage its existing software assets.
Worlds Inc reported no revenue for the year ended December 31, 2024, consistent with the previous year. The company has been operating at a reduced capacity with only one employee and using consultants as needed.
Selling, general, and administrative expenses increased to $175,917 from $101,451 in the previous year, primarily due to increased data center costs and consulting services.
Salaries and related expenses rose to $259,555 from $215,584, reflecting the terms of the CEO's employment agreement.
The company recorded a net loss of $511,382 for the year ended December 31, 2024, compared to a net income of $82,179 in the previous year. The previous year's income included gains from the sale of marketable securities and a URL.
As of December 31, 2024, Worlds Inc had cash and cash equivalents of $6,380, down from $244,856 at the end of 2023. The company did not raise additional cash during 2024.
The report includes a going concern statement, highlighting the company's working capital deficiency and reliance on raising additional capital to continue operations.
Worlds Inc's board of directors oversees cybersecurity risks, and the company has not identified any material cybersecurity threats as of the report date.
The company operates out of the CEO's residence and does not own any property. There are no legal proceedings or mine safety disclosures reported.
The company's common stock is traded on the OTC Bulletin Board under the symbol 'WDDD', with no dividends paid to date.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Worlds Inc annual 10-K report dated April 1, 2025. To report an error, please email earnings@qz.com.