Gold Rock Holdings, Inc. reported a significant shift in its financial performance for the fiscal year ending December 31, 2024, with revenues totaling $138,000, a notable increase from zero revenue in the previous year. The company achieved a gross profit margin of 100%, reflecting its transition to a new business model focused on technological asset management and AI services. Despite this revenue generation, Gold Rock recorded a net loss of $240,694, slightly higher than the $232,311 loss reported in 2023, primarily due to increased operational costs, including advertising and consulting fees.
The company underwent a strategic transformation following a change in control on October 2, 2023, moving away from engineering and construction management services to focus on mergers and acquisitions of technological assets. A key development during this period was the formation of its wholly-owned subsidiary, LOOT8, Inc., which specializes in Web3 commerce and content management solutions. LOOT8 aims to leverage blockchain technology to create innovative monetization models, including direct-to-consumer sales and enterprise software solutions, although it has yet to generate revenue from these initiatives.
Operationally, Gold Rock has initiated several projects to enhance its market presence. The LOOT8 platform is designed to cater to various enterprise needs, including digital product passports and loyalty programs, while the newly established K-Project division focuses on AI applications across multiple industries. As of the end of 2024, the company reported an accumulated deficit of $1,106,731 and total assets of $253,614, with cash reserves of $209,614. The company’s workforce remains small, with a limited number of clients currently engaged in its AI services.
Looking ahead, Gold Rock Holdings faces challenges related to its liquidity and capital resources, as it relies heavily on external financing to support its operations. The company has an oral commitment from its CEO to provide necessary funding, but it acknowledges the uncertainty surrounding its ability to continue as a going concern without significant revenue growth. Management is focused on executing its business plan and expanding its technological capabilities, with the hope of generating sustainable revenue streams in the future.
About GOLD ROCK HOLDINGS, INC.
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