Video River Networks Files Q3 2024 10-Q

TL;DR

Video River Networks (NIHK) filed its Q3 10-Q. Real estate sector. NV incorporated.

AI Summary

Video River Networks, Inc. filed its 10-Q for the period ending September 30, 2024. The company, formerly known as Nighthawk Systems Inc., is incorporated in Nevada and operates in the real estate sector. Its business address is located at 1333 N. Buffalo Dr., Suite 210, Las Vegas, NV 89128.

Why It Matters

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

Risk Assessment

Risk Level: low — This is a routine quarterly filing with no immediate red flags or significant new information presented in the provided snippet.

Key Players & Entities

• Video River Networks, Inc. (company) — Filer
• Nighthawk Systems Inc. (company) — Former company name
• 1333 N. Buffalo Dr., Suite 210, Las Vegas, NV 89128 (location) — Business and mailing address
• 20240930 (date) — Reporting period end date

FAQ

Key Financial Figures

• $0.001 — Section 12(g) of the Act: COMMON STOCK, $0.001 PAR VALUE Indicate by check mark if t
• $1 — er before being sold to the Company for $1. Thereafter CED Capital became an opera
• $50,000 — company for Fifty Thousand and 00/100 ($50,000/00) Dollars, to Community Economic Deve

Filing Documents

• form10-q.htm (10-Q) — 777KB
• ex31-1.htm (EX-31.1) — 13KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-24-046745.txt ( ) — 3843KB
• nihk-20240930.xsd (EX-101.SCH) — 28KB
• nihk-20240930_cal.xml (EX-101.CAL) — 39KB
• nihk-20240930_def.xml (EX-101.DEF) — 128KB
• nihk-20240930_lab.xml (EX-101.LAB) — 222KB
• nihk-20240930_pre.xml (EX-101.PRE) — 198KB
• form10-q_htm.xml (XML) — 448KB

– FINANCIAL INFORMATION

PART I. – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 41

Controls and Procedures

Item 4. Controls and Procedures 41

– OTHER INFORMATION

PART II. – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 43

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 45

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 45

Other Information

Item 5. Other Information 45

Exhibits

Item 6. Exhibits 45

Signatures

Signatures 46 PART I – FINANCIAL INFORMATION Item 1. Financial Statements Condensed Consolidated Balance Sheets As of September 30, 2024 (unaudited) and December 31, 2023 (audited) 3 Condensed Consolidated Statements of Operations for the three months ended September 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Shareholders' Deficit (Equity) as at September 30, 2024 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the three months ended September 30, 2024 and 2023 (unaudited) 6 Notes to the condensed consolidated financial statements (unaudited) 7 2 VIDEO RIVER NETWORKS INC CONSOLIDATED BALANCE SHEETS September 30, 2024 (Unaudited) December 31, 2023 (Audited) ASSETS Current Assets: Cash and cash equivalents $ 4,610 $ 7,009 Investments - trading securities - 2,569 Total Current Assets 4,610 9,578 Accrued Interest Receivable $ - $ 182,125 Investments - unrelated parties - 30,000 Fixed assets - net - 40,086 Notes Receivable Entrepreneurship Development - 1,579,420 Long term Notes Receivable - related parties - 1,815,676 Long term Investments - related parties - 163,513 Installment Receivable 1,555,557 - Total assets 1,560,167 3,820,398 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accrued expenses $ - $ 3,200 Other current liabilities 1,100 - Total Current Liabilities $ 1,100 $ 3,200 Long-Term Liabilities: Notes payable $ 74,924 $ 326,584 Line of credit - - Total Long-Term Liabilities 74,924 326,584 Total Liabilities $ 76,024 $ 329,784 STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock, $ .001 par value, 1,000,000 shares authorized, 1 issued and outstanding as at September 30, 2024 and December 31, 2023 $ - $ - Common Stock, $ 0.001 par value, 200,000,000 shares authorized, 182,370,497 issued and outstanding as at September 30, 2024 and December 31, 2023. 182,370 182,370 Additional pai

Business

Business Licenses - - Total operating expenses 9,053 58,397 75,929 218,761 Income (loss) from operations ( 9,053 ) ( 77,188 ) ( 75,929 ) 658,146 Other Income Disposition of a business unit - - 1,562,067 - Net Income ( 9,053 ) ( 77,188 ) 1,486,138 658,146 Earnings (loss) per Share: Basic and Diluted $ ( 0.0000 ) $ ( 0.0004 ) $ 0.0081 $ 0.0036 Weighted Average Common Shares Outstanding: Basic and Diluted 182,370,497 182,370,497 182,370,497 182,370,497 The accompanying notes to unaudited condensed consolidated financial statements 4 VIDEO RIVER NETWORKS INC OF CHANGES IN SHAREHOLDERS' DEFICIT As at September 30, 2024 (Unaudited) Additional Common Paid-In Accumulated Shares Amount Capital Deficit Total Balance at December 31, 2006 139,153,206 $ 139,153 $ 18,974,719 $ ( 19,113,872 ) $ - Net income for the period - - - - Balance at December 31, 2018 139,153,206 $ 139,153 $ 18,974,719 $ ( 19,113,872 ) $ - Issuance of common stock to employee 30,769,230 30,769 30,769 Cumulative Restructuring adjustment - - - ( 36,993 ) ( 36,993 ) Net income for the period - - Balance, December 31, 2019 169,922,436 $ 169,922 $ 18,974,719 $ ( 19,150,865 ) $ ( 6,224 ) Issuance of common stock 8,000,000 8,000 13,978 21,978 Acquisition of business - 222,378.0 ( 152,011 ) 70,367 Net income for the period - ( 82,980 ) ( 82,980 ) Balance, December 31, 2020 177,922,436 $ 177,922 $ 19,211,075 $ ( 19,385,856 ) $ 3,141 - - - - Acquisition & Dispositions - - - 19,025 19,025 Net income for the period - 2,206,953 2,206,953 Balance, December 31, 2021 177,922,436 $ 177,922 $ 19,211,075 $ ( 17,159,878 ) $ 2,229,119 Issuance of common stock 4,448,061 4,448 ( 4,448 ) - Acquisition & Dispositions - - ( 1,652 ) ( 1,652 ) Net income for the period - 767,121 767,121 Balance, December 31, 2022 182,370,497 $ 182,370 $

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