Quarterly ResultJun 24, 2026, 04:17 PM
Crypto Co 2024 Revenue $44.8K, Net Loss $7.96M; Internal Controls Ineffective
AI Summary
Crypto Co reported a significant decline in revenue for the fiscal year ended December 31, 2024, falling to $44,814 from $197,459 in 2023. The company posted a net loss of $7,963,077 and had negative working capital of $8,005,134, with only $1,763 cash on hand. Management also concluded that the company's disclosure controls and internal control over financial reporting were ineffective as of December 31, 2024, following a restatement of 2023 financial statements.
Key Highlights
- Revenue for 2024 was $44,814, down from $197,459 in 2023.
- Net loss for 2024 was $7,963,077.
- Working capital was negative $8,005,134 as of December 31, 2024.
- Cash on hand was $1,763 as of December 31, 2024.
- Share-based compensation increased 357% to $5,285,690 in 2024.
- Disclosure controls and internal control over financial reporting were deemed ineffective as of December 31, 2024.
- The company had 2 full-time employees as of June 5, 2025.
- Operations are funded through debt, with plans to seek additional financing.
Price Impact
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