Nukkleus Inc. Releases Q3 10-Q Report Highlighting Financial and Operational Challenges
Bacaan 1 minit
Nukkleus Inc., a company engaged in providing general support and financial services, has released its Form 10-Q report for the third quarter. The report outlines significant financial and operational metrics, shedding light on the company's current performance and future outlook.
Financial Highlights
- Total Revenues: $5.68 million, reflecting a decrease from the previous period due to reduced financial services revenue.
- Total Gross Profit: $0.78 million, indicating a positive gross profit from financial services despite an overall loss in the previous period.
- Loss from Operations: $(12.76) million, significantly higher than the previous period, primarily due to increased professional fees and bad debt expenses.
- Net Loss: $(12.97) million, driven by substantial operating expenses and interest expenses.
- Net Loss Per Share: $(1.00), reflecting the impact of increased shares outstanding and higher net loss.
Business Highlights
- Revenue Segments: The company operates two main segments: general support services and financial services. General support services are provided under a General Services Agreement (GSA) with Triton Capital Markets Ltd. (TCM), while financial services involve payment services from one fiat currency to another or to digital assets.
- Geographical Performance: The company has operations in multiple regions, including the United States, United Kingdom, Republic of Lithuania, and Malta. The majority of cash balances are held in the United Kingdom, indicating a significant operational presence there.
- Future Outlook: The company plans to raise additional capital through the sale of equity to implement its business plan. However, there is substantial doubt about the company's ability to continue as a going concern due to its current financial position.