Ilustrato Pictures International Files 10-Q for Q1 2024

TL;DR

Ilustrato Pictures Intl (IPI) filed its Q1 2024 10-Q. Check financials.

AI Summary

Ilustrato Pictures International Inc. filed its 10-Q for the quarterly period ended March 31, 2024. The company, formerly known as Superior Venture Corp, is incorporated in Nevada and has its principal executive offices in New York. The filing covers its financial performance and operations for the specified quarter.

Why It Matters

This filing provides investors with an update on Ilustrato Pictures International's financial health and operational status for the first quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The company's SIC code (MOTOR VEHICLES & PASSENGER CAR BODIES) seems mismatched with its name (Ilustrato Pictures International), suggesting potential data entry errors or a significant business pivot not immediately clear from the filing header.

Key Players & Entities

• Ilustrato Pictures International Inc. (company) — Registrant
• Superior Venture Corp (company) — Former company name
• Nevada (jurisdiction) — State of incorporation
• New York (location) — Principal executive offices
• March 31, 2024 (date) — Quarterly period end date
• 27-2450645 (identifier) — IRS Employer Identification No.
• 000-56239 (identifier) — Commission File Number

FAQ

Filing Documents

• ea0207386-10q_ilustrato.htm (10-Q) — 952KB
• ea020738601ex4-17_ilustrato.htm (EX-4.17) — 34KB
• ea020738601ex4-18_ilustrato.htm (EX-4.18) — 25KB
• ea020738601ex4-19_ilustrato.htm (EX-4.19) — 9KB
• ea020738601ex4-20_ilustrato.htm (EX-4.20) — 67KB
• ea020738601ex4-21_ilustrato.htm (EX-4.21) — 38KB
• ea020738601ex31-1_ilustrato.htm (EX-31.1) — 9KB
• ea020738601ex31-2_ilustrato.htm (EX-31.2) — 9KB
• ea020738601ex32-1_ilustrato.htm (EX-32.1) — 5KB
• 0001213900-24-050819.txt ( ) — 6453KB
• ilus-20240331.xsd (EX-101.SCH) — 68KB
• ilus-20240331_cal.xml (EX-101.CAL) — 36KB
• ilus-20240331_def.xml (EX-101.DEF) — 289KB
• ilus-20240331_lab.xml (EX-101.LAB) — 483KB
• ilus-20240331_pre.xml (EX-101.PRE) — 289KB
• ea0207386-10q_ilustrato_htm.xml (XML) — 722KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1:

Financial Statements

Financial Statements 1 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 2 Item 3:

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 8 Item 4:

Controls and Procedures

Controls and Procedures 8

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1:

Legal Proceedings

Legal Proceedings 9 Item 1A:

Risk Factors

Risk Factors 9 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 9 Item 3: Defaults Upon Senior Securities 9 Item 4: Mine Safety Disclosures 9 Item 5: Other Information 9 Item 6: Exhibits 10 i

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Our financial statements included in this Form 10-Q are as follows: F-1 Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023; F-2 Consolidated Statements of Operations for the three months ended March 31, 2024, and 2023 (Unaudited); F-3 Consolidated Statement of Stockholders' Equity (Deficit) for the periods ended March 31, 2024, and 2023 (Unaudited); F-4 Consolidated Statements of Cash Flows for the three months ended March 31, 2024, and 2022 (Unaudited); and F-5

Notes to Consolidated Financial Statements (Unaudited)

Notes to Consolidated Financial Statements (Unaudited). These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the SEC instructions to Form 10-Q. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the interim period ended March 31, 2024, are not necessarily indicative of the results that can be expected for the full year. 1 ILUSTRATO PICTURES INTERNATIONAL INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) March 31, 2024 Dec 31, 2023 ASSETS Current Assets Cash and Cash Equivalents 296,839 213,073 Accounts Receivables 25,692,179 22,825,113 Inventory 2,350,659 965,135 Inventory (work-in-progress) 647,665 Other Current Assets 6,824,074 5,451,159 Total Current Assets 3 35,163,751 30,102,145 Long Term Investments 35,062,896 23,639,209 Goodwill 8,802,815 8,606,289 Tangible Assets 780,205 139,523 Total Non-Current Assets 4 44,645,916 32,385,021 Total Assets 79,809,667 62,487,166 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Account Payable 10,815,844 9,891,505 Other Current liabilities 12,603,679 8,825,966 Total Current Liabilities 5 23,419,523 18,717,471 Non-current liabilities Notes Payable 13,151,876 11,740,619 Non-current lease liability 5,053,219 Other non- current liabilities 863,128 2,121,455 Total Non-Current Liabilities 6 19,068,223 13,862,074 Total Liabilities 42,487,746 32,579,545 Stockholders' Equity 7 Common Stock: 2,000,000,000 shares authorized, $ 0.001 par value, 1,915,835,296 and 1,720,182,651 issued and outstanding as of March 31, 2024, and December 31, 2023, respectively 1,915,835 1,720,183 Preferred Stock: 235,741,000 authorized, $ 0.001 par value, Class A - 10,000,000 authorized; 10,000,000 issued and outstanding as of

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View this 10-Q filing on SEC EDGAR