Resonate Blends Files Q2 2024 10-Q
Ticker: KOAN · Form: 10-Q · Filed: Aug 21, 2024 · CIK: 897078
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials, software
TL;DR
Resonate Blends (formerly Textmunication) filed its Q2 10-Q. Financials for June 30, 2024, are in.
AI Summary
Resonate Blends, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as Textmunication Holdings, Inc., is based in Calabasas, CA. The filing covers the second quarter and first half of the fiscal year, with financial data for June 30, 2024, and December 31, 2023, being reported.
Why It Matters
This filing provides investors with an update on Resonate Blends' financial performance and position for the second quarter of 2024, crucial for understanding the company's ongoing operations and health.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the company's history and industry can introduce medium-level risk.
Key Numbers
- 20240630 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial data is reported.)
- 20231231 — Prior Period End Date (Provides a comparative point for financial performance analysis.)
Key Players & Entities
- Resonate Blends, Inc. (company) — Filer of the 10-Q
- Textmunication Holdings, Inc. (company) — Former name of Resonate Blends, Inc.
- Calabasas, CA (location) — Business and mailing address
- June 30, 2024 (date) — End of reporting period
- December 31, 2023 (date) — Prior period financial comparison
FAQ
What is the primary business of Resonate Blends, Inc.?
Resonate Blends, Inc. is classified under SERVICES-PREPACKAGED SOFTWARE [7372].
When was Resonate Blends, Inc. formerly known as Textmunication Holdings, Inc.?
The company changed its name from Textmunication Holdings, Inc. on June 10, 2014, and previously on January 10, 2014.
What is the fiscal year end for Resonate Blends, Inc.?
The fiscal year end for Resonate Blends, Inc. is December 31.
What is the SEC file number for Resonate Blends, Inc.?
The SEC file number for Resonate Blends, Inc. is 000-21202.
What is the business address of Resonate Blends, Inc.?
The business address is 26565 AGOURA RD., SUITE 200, CALABASAS, CA 91302.
Filing Stats: 4,617 words · 18 min read · ~15 pages · Grade level 16.3 · Accepted 2024-08-20 20:55:23
Key Financial Figures
- $10,000,000.00 — evenue run rate of Ten Million Dollars ($10,000,000.00) for any three (3) consecutive month tr
- $100,000,000 — eaching One Hundred Million US Dollars ($100,000,000). The shares in (ii) and (iii) shall ha
Filing Documents
- form10-q.htm (10-Q) — 608KB
- ex31-1.htm (EX-31.1) — 18KB
- ex31-2.htm (EX-31.2) — 18KB
- ex32-1.htm (EX-32.1) — 9KB
- 0001493152-24-033340.txt ( ) — 3424KB
- koan-20240630.xsd (EX-101.SCH) — 24KB
- koan-20240630_cal.xml (EX-101.CAL) — 41KB
- koan-20240630_def.xml (EX-101.DEF) — 131KB
- koan-20240630_lab.xml (EX-101.LAB) — 238KB
- koan-20240630_pre.xml (EX-101.PRE) — 190KB
- form10-q_htm.xml (XML) — 392KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION 3 Item 1:
Financial Statements
Financial Statements 3 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 4 Item 3:
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 7 Item 4:
Controls and Procedures
Controls and Procedures 7
– OTHER INFORMATION
PART II – OTHER INFORMATION 8 Item 1:
Legal Proceedings
Legal Proceedings 8 Item 1A:
Risk Factors
Risk Factors 8 Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 8 Item 3: Defaults Upon Senior Securities 8 Item 4: Mine Safety Disclosures 9 Item 5: Other Information 9 Item 6: Exhibits 9 2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements Our consolidated 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 Six Months Ended June 30, 2024 and 2023 (unaudited) F-3 Consolidated Statement of Stockholders' Equity (Deficit) for the Six Months 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) F-5 Notes to Consolidated Unaudited Financial Statements. 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 six months ended June 30, 2024, are not necessarily indicative of the results that can be expected for the full year. 3 RESONATE BRANDS, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 17,030 $ 6,938 Advances to Pegasus Specialty Vehicles, LLC 970,000 970,000 Loan receivable 6,000 - Investments 100 - Total current assets $ 993,130 $ 976,938 Fixed assets: Fixed assets, net $ 15,303 $ 15,303 Total fixed assets $ 15,303 15,303 Other assets: Intangible, net $ - $ - Investments 691,582 100 Total other assets $ 691,582 $ 100 Total assets $ 1,700,015 $ 992,341 LIABILITIES AND SHAREHOLDERS' DE