CalEthos, Inc. Files Q3 2024 10-Q

TL;DR

CalEthos Q3 10-Q filed. Financials updated.

AI Summary

CalEthos, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial information for the third quarter and the first nine months of the year, including balance sheet items like preferred stock and common stock, as well as retained earnings. The company, formerly known as RealSource Residential, Inc., is incorporated in Nevada and operates as a Real Estate Investment Trust.

Why It Matters

This filing provides investors with an update on CalEthos, Inc.'s financial health and performance for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated in the provided text.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
• 2024-11-19 — Filing Date (Shows when the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• CalEthos, Inc. (company) — Filer of the 10-Q
• RealSource Residential, Inc. (company) — Former name of CalEthos, Inc.
• 20240930 (date) — End of the reporting period
• 20241119 (date) — Filing date

FAQ

Filing Documents

• form10-q.htm (10-Q) — 815KB
• 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) — 7KB
• 0001493152-24-046748.txt ( ) — 4119KB
• gedc-20240930.xsd (EX-101.SCH) — 42KB
• gedc-20240930_cal.xml (EX-101.CAL) — 34KB
• gedc-20240930_def.xml (EX-101.DEF) — 121KB
• gedc-20240930_lab.xml (EX-101.LAB) — 341KB
• gedc-20240930_pre.xml (EX-101.PRE) — 225KB
• form10-q_htm.xml (XML) — 533KB

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three-month and nine-month ended September 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three-month and nine month ended September 30, 2024 and 2023 (unaudited). 3 Condensed Consolidated Statements of Cash Flows for the nine-month ended September 30, 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 operations; 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 Statements CalEthos, Inc. Condensed Consolidated Balance Sheets September 30, 2024 December 31, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 156,000 $ 308,000 Prepaid and other current expenses 10,000 10,000 Total current assets 166,000 318,000 Data center Campus costs 4,875,000 2,262,000 Total assets $ 5,041,000 $ 2,580,000 Liabilities and stockholders' equity Current liabilities Accounts payable and accrued expenses $ 585,000 $ 670,000 Convertible promissory notes, net - 341,000 Notes payable, net of discount 322,000 11,000 Total current liabilities 907,000 1,022,000 Convertible debentures, net 428,000 - Total liabilities 1,335,000 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 shares authorized; 25,230,540 and 24,345,598 shares issued and outstanding 25,000 24,000 Additional paid-in capital 32,283,000 20,807,000 Other comprehensive income 9,000 9,000 Stock subscription receivable ( 2,000 ) ( 2,000 ) Accumulated deficit ( 28,609,000 ) ( 19,280,000 ) Total stockholders' equity 3,706,000 1,558,000 Total liabilities and stockholders' equity $ 5,041,000 $ 2,580,000 See the accompanying notes to these unaudited condensed consolidated financial statements. 1 CalEthos, Inc. Unaudited Condensed Consolidated Statements of

View Full Filing

View this 10-Q filing on SEC EDGAR