CalEthos, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>CalEthos, Inc. (GEDC) has filed its Q1 2024 10-Q report, detailing its financial status and corporate history.</b>

AI Summary

CalEthos, Inc. (GEDC) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. CalEthos, Inc. (GEDC) filed a 10-Q report for the period ending March 31, 2024. The company was formerly known as RealSource Residential, Inc., UPSTREAM BIOSCIENCES INC., and FORCE ENERGY CORP. CalEthos, Inc. is incorporated in Nevada (NV) with its fiscal year ending December 31. The company's business and mailing address is located at Three Sugar Creek Center, Suite 100, Sugar Land, TX 77478. The filing was made on May 15, 2024, under the 1934 Securities Exchange Act.

Why It Matters

For investors and stakeholders tracking CalEthos, Inc., this filing contains several important signals. This filing provides investors with an updated view of CalEthos, Inc.'s financial performance and position as of the first quarter of 2024. Understanding the company's historical name changes and corporate structure is crucial for assessing its evolution and potential future direction.

Risk Assessment

Risk Level: low — CalEthos, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate indicators of significant financial distress or unusual activity, suggesting a low level of immediate risk based solely on this document.

Analyst Insight

Review the detailed financial statements within the 10-Q to understand CalEthos, Inc.'s revenue, expenses, and balance sheet changes for Q1 2024.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-15 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Q1 2024 reporting period)
• 2023-12-31 — Previous Year End Date (Fiscal Year End)

Key Players & Entities

• CalEthos, Inc. (company) — Filer name
• GEDC (company) — Ticker symbol
• RealSource Residential, Inc (company) — Former company name
• UPSTREAM BIOSCIENCES INC. (company) — Former company name
• FORCE ENERGY CORP. (company) — Former company name
• NV (company) — State of incorporation
• Sugar Land (company) — City of business address
• 1934 Act (regulator) — SEC Act

FAQ

Industry Context

CalEthos, Inc. operates within the Real Estate Investment Trusts (REITs) sector, which involves owning, operating, or financing income-generating real estate.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for publicly traded companies in the United States.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity from the previous quarter.
2. Examine any disclosed footnotes for details on debt, equity, or other financial instruments.
3. Research the company's historical filings to understand its business evolution and past performance.

Key Dates

• 2024-05-15: 10-Q Filing — Report for the quarter ended March 31, 2024
• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q
• 2023-12-31: Previous Year End Date — Reference point for year-over-year comparisons

Year-Over-Year Comparison

This is the first 10-Q filing for the period ending March 31, 2024, providing an initial look at the company's performance in the current fiscal year.

Key Financial Figures

• $0.001 — he registrant's common stock, par value $0.001 per share. TABLE OF CONTENTS PAGE

Filing Documents

• form10-q.htm (10-Q) — 612KB
• ex3-1.htm (EX-3.1) — 24KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 12KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• 0001493152-24-019662.txt (&nbsp;) — 3559KB
• buuz-20240331.xsd (EX-101.SCH) — 41KB
• buuz-20240331_cal.xml (EX-101.CAL) — 31KB
• buuz-20240331_def.xml (EX-101.DEF) — 102KB
• buuz-20240331_lab.xml (EX-101.LAB) — 328KB
• buuz-20240331_pre.xml (EX-101.PRE) — 209KB
• form10-q_htm.xml (XML) — 393KB

Financial Statements (unaudited)

Financial Statements (unaudited) iii Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three months ended March 31, 2024 and 2023 (unaudited). 3 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 4 Notes to the Interim Unaudited Financial Statements 5 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 19 Item 4.

Controls and Procedures

Controls and Procedures 19 PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 20 Item 1A.

Risk Factors

Risk Factors 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Default Upon Senior Securities 20 Item 4. Mine Safety Disclosures 20 Item 5. Other Information 20 Item 6. Exhibits 20

Signatures

Signatures 21 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information set forth in this Quarterly Report on Form 10-Q, including in Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and elsewhere herein, with respect to our financial condition, results of operations and business that are not historical facts are "forward-looking statements". Forward-looking statements can be identified by the use of forward-looking terminology, such as "anticipate", "believe", "expect", "plan", "intend", "seek", "estimate", "project", "could", "may" or the negative thereof or other variations thereon, or by discussions of strategy that involve risks and uncertainties. Management wishes to caution the reader of the forward-looking statements that any such statements that are contained in this report reflect our current beliefs with respect to future events and involve known and unknown risks, uncertainties and other factors, including, but not limited to, economic, competitive, regulatory, technological, key employees, and general business factors affecting our operations, markets, growth, services, products and other factors, some of which are described in this report and some of which are discussed in our other filings with the Securities and Exchange Commission. These forward-looking statements are only estimates or predictions. No assurances can be given regarding the achievement of future results, as actual results may differ materially as a result of risks facing our company, and actual events may differ from the assumptions underlying the statements that have been made regarding anticipated events. Important factors to consider in evaluating any forward-looking statements include: our ability to finance and complete the design and construction of our proposed data center operation; our ability to implement our business plan; our ability to attract key personnel; our ability to operate profitably;

forward-looking statements may not apply to us at certain times

forward-looking statements may not apply to us at certain times. Throughout this report, unless otherwise designated, the terms "we," "us," "our," "the Company" and "our company" refer to CalEthos, Inc., a Nevada corporation. All amounts are in U.S. Dollars, unless otherwise indicated. ii PART I - FINANCIAL INFORMATION Item 1: Financial CalEthos, Inc. For the Three Months Ended March 31, 2024 Index to the Condensed Consolidated Financial Statements Contents Page (s) Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 2023 2 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 4 Notes to the Unaudited Condensed Consolidated Financial Statements 5 iii CalEthos, Inc. Condensed Consolidated Balance Sheet March 31, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 809,000 $ 308,000 Prepaid and other current expenses 10,000 10,000 Total current assets 819,000 318,000 Data center costs 2,758,000 2,262,000 Total assets $ 3,577,000 $ 2,580,000 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses $ 399,000 $ 670,000 Convertible promissory notes, net - 341,000 Notes payable, net of discount 683,000 11,000 Total current liabilities 1,082,000 1,022,000 Stockholders' equity Series A convertible preferred stock, par value $ 0.001 , 3,600,000 shares authorized; no shares issued and outstanding - - Preferred stock, par value $ 0.001 , 100,000,000 shares authorized, no shares issued and outstanding - - Preferred stock value - - Common stock par value $ 0.001 : 100,000,000

financial statements and the reported amounts of revenue and expenses during the reporting periods

financial statements and the reported amounts of revenue and expenses during the reporting periods. Foreign Currency Translation The financial statements of foreign subsidiaries, for which the functional currency is the local currency, are translated into U.S. dollars using the exchange rate at the consolidated balance sheet date for assets and liabilities and a weighted-average exchange rate during the year for revenue, expenses, gains and losses. Translation adjustments are recorded as other comprehensive income (loss) within shareholders' equity (deficit). Gains or losses from foreign currency transactions are recognized in the consolidated statements of operations. Fair Value Measurement Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants as of the measurement date. Applicable accounting guidance provides an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability. There are three levels of inputs that may be used to measure fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs which are supported by little or no market activity. The fair value hierarchy

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View this 10-Q filing on SEC EDGAR