Ilustrato Pictures International Inc. Files 10-Q

Ticker: ILUS · Form: 10-Q · Filed: Aug 26, 2024 · CIK: 1496383

Sentiment: neutral

Topics: 10-Q, quarterly-report, filing

TL;DR

Ilustrato Pictures Intl. filed its Q2 2024 10-Q. Check financials.

AI Summary

Ilustrato Pictures International Inc. filed its 10-Q for the quarterly period ended June 30, 2024. The company, formerly known as Superior Venture Corp, is incorporated in Nevada and headquartered in New York. Its IRS number is 272450645, and its SEC file number is 000-56239.

Why It Matters

This filing provides investors with an update on the company's financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of Ilustrato Pictures International Inc.?

The filing lists the Standard Industrial Classification as 'MOTOR VEHICLES & PASSENGER CAR BODIES [3711]', but the company name suggests a focus on pictures/film. Further details within the full report would clarify the primary business.

When was the company formerly known as Superior Venture Corp?

The date of the name change from Superior Venture Corp to Ilustrato Pictures International, Inc. was July 12, 2010.

What is the company's principal executive office address?

The principal executive offices are located at 26 Broadway, Suite 934, New York, NY 10004.

What is the fiscal year end for Ilustrato Pictures International Inc.?

The company's fiscal year ends on December 31st.

What is the filing date of this 10-Q report?

This 10-Q report was filed on August 26, 2024.

Filing Stats: 4,389 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-08-26 08:10:43

Filing Documents

– 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 June 30, 2024 (Unaudited) and December 31, 2023; F-2 Consolidated Statements of Operations for the three & six months ended June 30, 2024, and 2023 (Unaudited); F-3 Consolidated Statement of Stockholders' Equity (Deficit) for the periods ended June 30, 2024, and 2023 (Unaudited); F-4 Consolidated Statements of Cash Flows for the six months ended June 30, 2024, and 2023 (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 June 30, 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/NOT REVIEWED) June 30, 2024 Not Reviewed December 31, 2023 Audited ASSETS Current Assets Cash and Cash Equivalents $ 302,254 $ 213,073 Inventory 2,025,381 1,612,800 Accounts Receivable 7,531,969 22,825,113 Deposits, Prepayments, & Advances 785,311 0 Other Current Assets 10,116,487 5,451,159 Total Current Assets 20,761,402 30,102,145 Non-Current Assets Long Term Investments 25,264,697 23,639,209 Property and Equipment 186,207 139,523 Right-of-Use assets 259,304 0 Capital work in progress 654,666 0 Receivable Non-Current Portion 7,157,417 0 Goodwill 11,115,562 8,606,289 Total Non-current Assets 44,637,853 32,385,021 Total Assets $ 65,399,255 $ 62,487,166 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 4,136,227 $ 9,891,505 Lease Operating Liabilities 90,875 0 Related Party Payables 406,235 0 Other Current Liabilities 13,780,865 8,825,966 Total Current Liabilities 18,414,202 18,717,471 Non-Current Liabilities Lease Operating Non-Current Portion 180,062 0 Notes payable – long-term 14,355,776 11,740,619 Other Non-Current Liabilities 1,844,602 2,121,455 Total Long-Term Liabilities 16,380,440 13,862,074 Total Liabilities 34,794,642 32,579,545 Stockholders' Equity Class A - 10,000,000 authorized; 10,000,000 issued and outstan

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