Kisses From Italy Inc. Files Q3 2024 10-Q

TL;DR

Kisses From Italy Inc. dropped its Q3 2024 10-Q. Check financials.

AI Summary

Kisses From Italy Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial information for the company, which operates in the retail-eating & drinking places sector. Key financial data points and disclosures for the third quarter and year-to-date periods are presented.

Why It Matters

This filing provides investors and stakeholders with the latest financial performance and operational details of Kisses From Italy Inc. for the third quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report and does not contain immediate red flags or significant negative developments.

Key Numbers

• 20240930 — Report Period End Date (The 10-Q covers financial information up to this date.)
• 20241231 — Filing Date (The date the report was officially submitted to the SEC.)
• 2024-01-01 to 2024-09-30 — Year-to-Date Period (The cumulative period for which financial data is reported.)
• 2024-07-01 to 2024-09-30 — Q3 2024 Period (The specific quarter for which financial data is reported.)

Key Players & Entities

• Kisses From Italy Inc. (company) — Filer of the 10-Q
• 0001608092 (company) — Central Index Key for Kisses From Italy Inc.
• RETAIL-EATING & DRINKING PLACES [5810] (industry) — Standard Industrial Classification
• MIAMI (location) — City of business and mailing address
• FL (location) — State of incorporation and business address

FAQ

Filing Documents

• kisses_i10q-093024.htm (10-Q) — 736KB
• kisses_ex3101.htm (EX-31.1) — 11KB
• kisses_ex3102.htm (EX-31.2) — 11KB
• kisses_ex3201.htm (EX-32.1) — 4KB
• kisses_ex3202.htm (EX-32.2) — 4KB
• 0001683168-24-009066.txt ( ) — 3772KB
• kitl-20240930.xsd (EX-101.SCH) — 32KB
• kitl-20240930_cal.xml (EX-101.CAL) — 39KB
• kitl-20240930_def.xml (EX-101.DEF) — 115KB
• kitl-20240930_lab.xml (EX-101.LAB) — 269KB
• kitl-20240930_pre.xml (EX-101.PRE) — 213KB
• kisses_i10q-093024_htm.xml (XML) — 438KB

FINANCIAL STATEMENTS

PART I FINANCIAL STATEMENTS Item 1.

Financial Statements

Financial Statements 4 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 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 25 Item 4.

Controls and Procedures

Controls and Procedures 25

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 2 6 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION KISSES FROM ITALY INC. Condensed Consolidated Financial Statements for the Three and Nine Months Ended September 30, 2024 Index to the Unaudited Condensed Consolidated

Financial Statements

Financial Statements Condensed Consolidated Balance Sheets at September 30, 2024 (Unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 5 Condensed Consolidated Statement of Changes in Stockholders' Deficit for the Three and Nine Months Ended September 30, 2024 and 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 (Unaudited) 9 Notes to the Condensed Consolidated Financial Statements (Unaudited) 10 3

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS. Kisses From Italy Inc. Condensed Consolidated Balance Sheets September 30, December 31, 2024 2023 (Unaudited) ASSETS Current assets: Cash and cash equivalents $ 810 $ 24,842 Accounts receivable 3,376 5,117 Inventory 1,219 11,917 Total current assets 5,405 41,876 Equipment not in service – 40,852 Other Assets – 2,745 Total assets $ 5,405 $ 85,472 LIABILITIES AND STOCKHOLDERS' DEFICIT Current liabilities: Accounts payable $ 136,807 $ 114,454 Accrued liabilities 101,067 42,049 Notes payable -related party 352,497 250,000 Convertible notes 389,550 425,000 Total current liabilities 979,922 831,503 Notes payable long term -related party – 102,497 Total liabilities 979,922 934,000 Commitments and contingencies – – Stockholders' Deficit: Preferred stock, Series A $ 0.001 par value. 1,500,000 shares authorized; zero shares issued and outstanding – – Preferred stock, Series B $ 0.001 par value. 5,000,000 shares authorized; zero shares issued and outstanding – – Preferred stock, Series C, $ 0.001 par value 1,000,000 shares authorized; 175,080 shares and 175,080 shares issued and outstanding as of September 30, 2024 and December 31 2023, respectively 175 175 Common stock, $ 0.001 par value, 650,000,000 shares authorized; 407,750,100 and 336,763,187 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 407,750 336,763 Additional paid-in capital 18,249,346 18,392,470 Accumulated deficit ( 19,598,804 ) ( 19,577,937 ) Total Kisses From Italy Stockholders' Deficit ( 941,532 ) ( 848,529 ) Non-controlling interest ( 32,985 ) ( 32,985 ) Total Stockholders' deficit ( 974,517 ) ( 881,514 ) Total liabilities and deficit $ 5,405 $ 85,473 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. 4 Kisses From Italy Inc. Condensed

View Full Filing

View this 10-Q filing on SEC EDGAR