Ilustrato Pictures Files Q3 2024 10-Q
Ticker: ILUS · Form: 10-Q · Filed: Nov 19, 2024 · CIK: 1496383
Sentiment: neutral
Topics: 10-Q, quarterly-report, filing-update
TL;DR
**Ilustrato Pictures (IPI) filed its Q3 2024 10-Q. Check financials.**
AI Summary
Ilustrato Pictures International, Inc. filed its quarterly report on Form 10-Q for the period ended September 30, 2024. The company, formerly known as Superior Venture Corp, is incorporated in Nevada and has its principal executive offices in New York. The filing details its financial performance and operational status for the quarter.
Why It Matters
This filing provides investors with an update on Ilustrato Pictures International's financial health and operational activities for the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — As a 10-Q filing, it contains detailed financial information, but the company's specific financial performance and market position are not fully detailed in this header information, requiring further review.
Key Numbers
- 000-56487 — Commission File Number (Identifies the company's filing with the SEC)
- 27-2450645 — IRS Employer Identification No. (Company's tax identification number)
Key Players & Entities
- Ilustrato Pictures International Inc. (company) — Registrant
- Superior Venture Corp (company) — Former company name
- September 30, 2024 (date) — Quarterly period end date
- 20241119 (date) — Filing date
- 26 Broadway, Suite 934, New York, NY 10004 (location) — Principal executive offices address
FAQ
What was the company's revenue for the quarter ended September 30, 2024?
The provided header information does not contain specific revenue figures for the quarter ended September 30, 2024. A detailed review of the full 10-Q document is required.
What is Ilustrato Pictures International Inc.'s primary business activity?
The filing indicates the Standard Industrial Classification is 'MOTOR VEHICLES & PASSENGER CAR BODIES [3711]', suggesting a focus related to vehicle manufacturing, though the company name implies a different industry. Further details within the report are needed for clarification.
When was the company formerly known as Superior Venture Corp?
The company's name was changed from Superior Venture Corp on July 12, 2010.
What is the company's state of incorporation?
Ilustrato Pictures International, Inc. is incorporated in Nevada.
What is the filing date of this 10-Q report?
This 10-Q report was filed on November 19, 2024.
Filing Stats: 4,376 words · 18 min read · ~15 pages · Grade level 17.7 · Accepted 2024-11-19 16:01:30
Filing Documents
- ea0221688-10q_ilustrato.htm (10-Q) — 1367KB
- ea022168801ex4-29_ilustrato.htm (EX-4.29) — 30KB
- ea022168801ex4-30_ilustrato.htm (EX-4.30) — 30KB
- ea022168801ex4-31_ilustrato.htm (EX-4.31) — 30KB
- ea022168801ex4-32_ilustrato.htm (EX-4.32) — 30KB
- ea022168801ex31-1_ilustrato.htm (EX-31.1) — 10KB
- ea022168801ex31-2_ilustrato.htm (EX-31.2) — 10KB
- ea022168801ex32-1_ilustrato.htm (EX-32.1) — 5KB
- 0001213900-24-100145.txt ( ) — 7541KB
- ilus-20240930.xsd (EX-101.SCH) — 69KB
- ilus-20240930_cal.xml (EX-101.CAL) — 47KB
- ilus-20240930_def.xml (EX-101.DEF) — 320KB
- ilus-20240930_lab.xml (EX-101.LAB) — 549KB
- ilus-20240930_pre.xml (EX-101.PRE) — 331KB
- ea0221688-10q_ilustrato_htm.xml (XML) — 772KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 1 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 9 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 September 30, 2024 (Unaudited/Not Reviewed) and December 31, 2023; F-2 Consolidated F-3 Consolidated Reviewed); F-4 Consolidated F-5 Notes to consolidated Financial Statements (Unaudited/Not Reviewed). These consolidated 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 September 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) September 30, 2024 December 31, 2023 Not Reviewed Audited ASSETS Current Assets Cash and Cash Equivalents 338,906 213,073 Accounts Receivables 3 7,748,643 22,825,113 Inventory 2,002,182 1,612,800 Deposits, Prepayments, & Advances 950,502 0 Other Current Assets 3 6,665,772 5,451,159 Total Current Assets 17,706,005 30,102,145 Long term Investments 4 28,884,037 23,639,209 Right of use of asset 274,997 0 Goodwill 4 11,115,562 8,606,289 Tangible Assets 4 151,237 139,523 Capital work in progress 654,666 0 Receivable Non-Current 4 7,157,417 0 Total Non-Current Assets 48,237,916 32,385,021 Total Assets 65,943,921 62,487,166 LIABILITIES AND STOCKHOLDERS'
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1: ORGANIZATION, HISTORY AND BUSINESS (A) We were incorporated as Superior Venture Corp. on April 27, 2010, in the State of Nevada to sell wine varietals. On November 9, 2012, we entered into an Exchange Agreement with Ilustrato Pictures Ltd., a British Columbia corporation (Ilustrato BC"), whereby we acquired all the issued and outstanding common stock of Ilustrato BC. On November 30, 2012, Ilustrato BC transferred all of its assets and liabilities to Ilustrato Pictures Limited, our wholly owned subsidiary in Hong Kong ("Ilustrato HK"). On February 11, 2013, we changed the name to Ilustrato Pictures International, Inc. (B) On April 1, 2016, Barton Hollow and the newly elected director of the issuer caused the Issuer to enter into a letter of Intent to merge with Cache Cabinetry, LLC, an Arizona limited liability company. Pursuant to the Letter of Intent, the parties thereto would endeavor to arrive at, and enter into, a definitive merger agreement providing for the Merger. As an inducement to the members of Cache Cabinetry, LLC to enter into the Letter of Intent and thereafter transact, the Issuer caused to be issued 360,000,000 shares of its common stock to the members. (C) Subsequently, on April 6, 2016, the Issuer and Cache Cabinetry, LLC entered into a definitive agreement and Plan of Merger (the "Merger Agreement"). Concomitant therewith, the stockholders of the Issuer elected Derrick McWilliams, the President of Cache Cabinetry, LLC Chief Executive Officer of the Issuer, who along with Barton Hollow, ratified and approved the Merger Agreement and Merger. (D) The Merger closed on June 3, 2016. The merger is designed as a reverse subsidiary merger pursuant to Section 368(a)(2)(E) of the Internal Revenue Code. That is, upon closing, Cache Cabinetry LLC will merge into a newly created subsidiary of the Issuer with the members of Cache Cabinetry, LLC receiving shares of the common stock of the Issu