Goal Acquisitions Corp. reported its financial results for the three and six months ended June 30, 2024, revealing significant changes in its performance compared to the previous fiscal period. The company recorded a net loss of $733,884 for the three months ended June 30, 2024, an increase from a net loss of $191,149 in the same period of 2023. For the six months, the net loss was $1,326,942, compared to $581,439 in the prior year. The increase in losses is attributed to higher operating costs, which rose to $382,947 for the three months and $707,225 for the six months, compared to $239,303 and $616,171, respectively, in 2023.

Despite the increase in losses, the company reported a decrease in the loss from operations for the three months ended June 30, 2024, at $(687,651), down from $(1,146,781) in the same quarter of 2023. This indicates some operational improvements, although overall profitability remains elusive.

As of June 30, 2024, Goal Acquisitions Corp. had total current assets of $1,701,131 and total assets of $4,022,859. However, the company also reported total current liabilities of $15,123,501, leading to an accumulated deficit of $(13,283,233) and a total stockholders’ deficit of $(13,282,504). The working capital deficit stood at $13,422,370, raising concerns about the company's ability to continue as a going concern if a business combination is not completed by the deadline of May 8, 2025.

The company has been actively pursuing a business combination, having entered into an Amended and Restated Business Combination Agreement with Goal Acquisitions Nevada Corp. and Digital Virgo Group. However, the agreement faced challenges, including Digital Virgo's unilateral termination in July 2023, prompting the company to initiate arbitration to enforce its rights.

In terms of cash flow, Goal Acquisitions Corp. reported net cash used in operating activities of $(615,647) for the six months ended June 30, 2024, a decrease from $(1,020,923) in the same period of 2023. The company also withdrew a total of $2,090,813 from the Trust Account, primarily for tax obligations and operating expenses.

The company’s financial statements indicate substantial doubt about its ability to continue as a going concern, particularly in light of ongoing military actions in Ukraine and potential regulatory changes affecting SPACs. The company has not commenced any operations as of the reporting date and continues to seek a viable business combination to enhance its financial position.