American Picture House Corp reported significant financial changes in its 10-Q filing for the period ending September 30, 2024. The company experienced a dramatic decline in revenue, generating $23.0 million for the nine months ended September 30, 2024, compared to $169.1 million during the same period in 2023. This decline in revenue contributed to a net loss of $2.2 million for the nine months ended September 30, 2024, compared to a net loss of $954,514 in the prior year.
The company's total current assets decreased sharply to $61,117 as of September 30, 2024, down from $266.5 million at the end of 2023. Total assets increased to $888.2 million, up from $549.0 million at the end of the previous fiscal year, indicating a significant shift in asset composition. However, total current liabilities surged to $1.0 billion, compared to $102.0 million at the end of 2023, leading to total liabilities of $1.2 billion, up from $251.9 million. This resulted in a stockholders' equity deficit of $(273.5 million) as of September 30, 2024, a stark contrast to the equity of $297.1 million reported at the end of 2023.
Operating expenses for the three months ended September 30, 2024, totaled $315,570, a decrease from $504,060 in the same period of 2023. General and administrative expenses also fell to $315,570 from $495,257 year-over-year. Despite these reductions, the company reported a net operating loss of $(315,570) for the third quarter of 2024, compared to $(504,060) in the prior year.
Cash flows from operating activities showed a net outflow of $(772,588) for the nine months ended September 30, 2024, compared to $(716,862) in 2023. Cash flows from investing activities improved slightly, with a net outflow of $(32,465) compared to $(46,153) in the previous year. However, cash flows from financing activities decreased to $601,082 from $1.3 million in the prior year, contributing to a net decrease in cash and cash equivalents of $(203,971) for the nine months ended September 30, 2024.
Overall, American Picture House Corp's financial performance reflects significant challenges, particularly in revenue generation and equity position, alongside efforts to reduce operating expenses.
About American Picture House Corp
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.