Dalrada Financial Corp Files Q3 Amendment
Ticker: DHTI · Form: 10-Q/A · Filed: Dec 30, 2024 · CIK: 725394
Sentiment: neutral
Topics: amendment, 10-Q, financials
TL;DR
Dalrada Financial Corp filed a Q3 amendment on 12/30/24, updating financials for period ending 03/31/24.
AI Summary
Dalrada Financial Corp filed an amendment (10-Q/A) on December 30, 2024, for its period ending March 31, 2024. This filing pertains to their Q3 results and includes details on various preferred stock series (I, H, G, F). The company, formerly known as Imaging Technologies Corp/CA and Personal Computer Products Inc, is incorporated in Wyoming and operates in the help supply services sector.
Why It Matters
This amendment provides updated financial information for Dalrada Financial Corp's third quarter, which is crucial for investors to assess the company's performance and financial health.
Risk Assessment
Risk Level: medium — Amendments to SEC filings can indicate that initial disclosures contained errors or omissions, requiring further clarification and potentially signaling underlying issues.
Key Numbers
- Q3 — Quarterly Filing (Amendment pertains to the third quarter results.)
Key Players & Entities
- Dalrada Financial Corp (company) — Filer of the 10-Q/A amendment
- Imaging Technologies Corp/CA (company) — Former company name
- Personal Computer Products Inc (company) — Former company name
- 03/31/2024 (date) — Conformed period of report
- 12/30/2024 (date) — Filed as of date
FAQ
What is the primary purpose of this 10-Q/A filing?
This filing is an Amendment No. 1 to Form 10-Q for Dalrada Financial Corp, providing updated financial information for the period ending March 31, 2024.
What is the reporting period for this amended filing?
The conformed period of report is March 31, 2024.
When was this amendment filed?
This amendment was filed on December 30, 2024.
What were Dalrada Financial Corp's former company names?
Dalrada Financial Corp was formerly known as Imaging Technologies Corp/CA and Personal Computer Products Inc.
What industry does Dalrada Financial Corp operate in?
Dalrada Financial Corp operates in the Services-Help Supply Services sector, with SIC code 7363.
Filing Stats: 4,566 words · 18 min read · ~15 pages · Grade level 20 · Accepted 2024-12-27 18:16:34
Key Financial Figures
- $0.005 — nge on which registered Common Stock, $0.005 par value per share DFCO None Indic
Filing Documents
- dalrada_i10qa-033124.htm (10-Q/A) — 1546KB
- dalrada_ex3101.htm (EX-31.1) — 9KB
- dalrada_ex3102.htm (EX-31.2) — 10KB
- dalrada_ex3201.htm (EX-32.1) — 4KB
- dalrada_ex3202.htm (EX-32.2) — 4KB
- 0001683168-24-009018.txt ( ) — 8605KB
- dfco-20240331.xsd (EX-101.SCH) — 73KB
- dfco-20240331_cal.xml (EX-101.CAL) — 74KB
- dfco-20240331_def.xml (EX-101.DEF) — 302KB
- dfco-20240331_lab.xml (EX-101.LAB) — 473KB
- dfco-20240331_pre.xml (EX-101.PRE) — 433KB
- dalrada_i10qa-033124_htm.xml (XML) — 1493KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 4
Unaudited interim condensed consolidated Financial
Item 1. Unaudited interim condensed consolidated Financial 4 Unaudited interim condensed consolidated Balance Sheets 4 Unaudited interim condensed consolidated Statements of Operations and Comprehensive Loss 5 Unaudited interim condensed consolidated Statements of Stockholders' Equity (Deficit) 6 Unaudited interim condensed consolidated Statements of Cash Flows 8 Condensed Notes to the Unaudited interim condensed consolidated Financial 9
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 38
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 45
Controls and Procedures
Item 4. Controls and Procedures 46
– OTHER INFORMATION
PART II – OTHER INFORMATION 47
Legal Proceedings
Item 1. Legal Proceedings 47
Risk Factors
Item 1A. Risk Factors 47
Unregistered Sales of Equity Securities and Use of Proceeds Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Securities 47
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 47
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 47
Other Information
Item 5. Other Information 47
Exhibits
Item 6. Exhibits 48
SIGNATURES
SIGNATURES 49 2 EXPLANATORY NOTE This Amendment No. 1 on Form 10-Q/A (the "Amendment") amends the Quarterly Report on Form 10-Q of Dalrada Financial Corporation (the "Company") for the fiscal quarter ended March 31, 2024, as filed with the Securities and Exchange Commission on May 14, 2024 (the "Original Filing"). This Amendment is being filed solely to correct the Company's revenue for the three months ended March 31, 2024, and accounts receivable as of March 31, 2024. No other information in the Original Filing, including revenues, was incorrectly presented, and this Amendment should be read in conjunction with the Original Filing. In accordance with Rule 12b-15 of the Securities Exchange Act of 1934, as amended, this Amendment includes new certifications required by Section 302 of the Sarbanes-Oxley Act of 2002, as amended, dated as of the filing date of this Amendment. Other than as expressly described above, no changes have been made to the Original Filing. This Amendment does not reflect events occurring after the Original Filing. 3
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Unaudited interim condensed
Item 1. Unaudited interim condensed consolidated Financial Statements. DALRADA FINANCIAL CORPORATION Condensed Consolidated Balance Sheets March 31, June 30, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 533,595 $ 812,806 Accounts receivable, net 7,523,096 4,453,104 Accounts receivable, net - related parties 909,279 752,348 Other receivables 1,262,756 376,604 Inventories 2,753,208 2,078,692 Prepaid expenses and other current assets 582,894 1,343,491 Total current assets 13,564,828 9,817,045 Noncurrent receivables 20,756 41,722 Noncurrent receivables - related parties 1,146,064 1,173,893 Property and equipment, net 1,425,828 1,476,082 Goodwill 3,803,147 3,803,147 Intangible assets, net 3,560,524 3,858,086 Right-of-use asset, net 2,504,035 2,771,854 Right-of-use asset, net - related party 1,825,640 2,227,286 Total assets $ 27,850,822 $ 25,169,115 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 5,691,861 $ 5,178,897 Accrued liabilities 1,131,541 1,084,008 Accounts payable and accrued liabilities – related parties 254,295 547,949 Deferred revenue 471,423 1,337,259 Notes payable, current portion 1,733,071 439,562 Notes payable, current portion – related parties – 251,605 Lease liability, current portion 730,602 660,394 Lease liability, current portion – related party 542,369 519,791 Total current liabilities 10,555,162 10,019,465 Noncurrent payables – 48,888 Notes payable, net of current portion 2,281,129 1,011,395 Notes payable, net of current portion – related parties 637,688 1,648,478 Contingent consideration 4,691,794 4,285,389 Lease liability, net of current portion 1,849,125 2,160,834 Lease liability, net of current portion – related party 1,330,873 1,741,830 Total liabilities 21,345,771 20,916,279 Commitments and contingencies (Note 13) – – Stockholders' equity: