Dalrada Financial Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Dalrada Financial Corp filed its Q3 2024 10-Q, detailing financial performance and corporate history.</b>

AI Summary

DALRADA FINANCIAL CORP (DHTI) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Dalrada Financial Corp filed a 10-Q for the period ending March 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on June 30. Dalrada Financial Corp was formerly known as Imaging Technologies Corp/CA and Personal Computer Products Inc. The company is incorporated in Wyoming.

Why It Matters

For investors and stakeholders tracking DALRADA FINANCIAL CORP, this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial data for Dalrada Financial Corp, crucial for assessing recent performance and making informed investment decisions. Understanding the company's historical name changes (Imaging Technologies Corp/CA, Personal Computer Products Inc.) can provide context on its evolution and strategic shifts over time.

Risk Assessment

Risk Level: low — DALRADA FINANCIAL CORP shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new risks or immediate concerns.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand Dalrada Financial Corp's revenue, expenses, and overall financial health for the quarter.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-14 — Filing Date (Filed As Of Date)
• 0630 — Fiscal Year End (Fiscal Year End)
• 7363 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Dalrada Financial Corp (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-14 (date) — Filed as of date
• 7363 (other) — Standard Industrial Classification code
• WY (other) — State of incorporation
• IMAGING TECHNOLOGIES CORP/CA (company) — Former company name
• PERSONAL COMPUTER PRODUCTS INC (company) — Former company name
• 06-30 (date) — Fiscal year end

FAQ

Industry Context

Dalrada Financial Corp operates within the Services-Help Supply Services industry, as indicated by its SIC code 7363.

Regulatory Implications

The filing is a Form 10-Q, a standard quarterly report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for the three months ended March 31, 2024, and compare them to prior periods.
2. Review any disclosures regarding changes in business operations or significant events during the quarter.
3. Note the company's fiscal year end of June 30 for future reporting period context.

Key Dates

• 2024-03-31: Quarterly Report End Date — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-14: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, so a direct comparison to a previous 10-Q for the same period last year is not yet available within this specific filing's header data.

Key Financial Figures

• $0.005 — nge on which registered Common Stock, $0.005 par value per share DFCO None Indic

Filing Documents

• dalrada_i10q-033124.htm (10-Q) — 1517KB
• 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
• 0001683168-24-003323.txt (&nbsp;) — 8532KB
• dfco-20240331.xsd (EX-101.SCH) — 73KB
• dfco-20240331_cal.xml (EX-101.CAL) — 73KB
• dfco-20240331_def.xml (EX-101.DEF) — 301KB
• dfco-20240331_lab.xml (EX-101.LAB) — 473KB
• dfco-20240331_pre.xml (EX-101.PRE) — 432KB
• dalrada_i10q-033124_htm.xml (XML) — 1475KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3

Unaudited interim consolidated Financial Statements

Item 1. Unaudited interim consolidated Financial Statements 3 Unaudited interim consolidated Balance Sheets 3 Unaudited interim consolidated Statements of Operations and Comprehensive Loss 4 Unaudited interim consolidated Statements of Stockholders' Equity (Deficit) 5 Unaudited interim consolidated Statements of Cash Flows 7 Condensed Notes to the Unaudited interim consolidated Financial Statements 8

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 36

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

– OTHER INFORMATION

PART II – OTHER INFORMATION 43

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities and Use of Proceeds Securities

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Securities 43

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 43

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 43

Other Information

Item 5. Other Information 43

Exhibits

Item 6. Exhibits 44

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Unaudited interim consolidated Financial Statements

Item 1. Unaudited interim consolidated Financial Statements. DALRADA FINANCIAL CORPORATION Consolidated Balance Sheets March 31, June 30, 2024 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 533,595 $ 812,806 Accounts receivable, net 9,841,425 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 15,883,157 9,817,045 Long-term receivables 20,756 41,722 Long-term 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 $ 30,169,151 $ 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 Right-of-use liability 730,602 660,394 Right-of-use liability - related party 542,369 519,791 Total current liabilities 10,555,162 10,019,465 Long-term payables – 48,888 Notes payable 2,281,129 1,011,395 Notes payable – related parties 637,688 1,648,478 Contingent consideration 4,691,794 4,285,389 Right-of-use liability 1,849,125 2,160,834 Right-of-use liability - related party 1,330,873 1,741,830 Total liabilities 21,345,771 20,916,279 Commitments and contingencies (Note 13) – – Stockholders' equity: Preferred stock, $ 0.01 par value, 100,000 shares authorized: – – Series I preferred stock, $ 0.01 par value, 51,059

View Full Filing

View this 10-Q filing on SEC EDGAR