Reliant Holdings Files Q1 2024 10-Q

TL;DR

Reliant Holdings Q1 2024 10-Q is in. Check financials.

AI Summary

Reliant Holdings, Inc. filed its 10-Q for the period ending March 31, 2024. The company reported its financial performance for the first quarter of 2024. Key financial data and business operations for the period are detailed in the filing.

Why It Matters

This filing provides investors with an update on Reliant Holdings' financial health and operational performance for the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 0.001 — Par Value Per Share (Common Stock par value)
• 70000000 — Shares Authorized (Common Stock authorized shares)
• 16785000 — Shares Outstanding (Common Stock outstanding shares)

Key Players & Entities

• Reliant Holdings, Inc. (company) — Filer of the 10-Q
• 2024-03-31 (date) — End of the reporting period
• 2024-05-20 (date) — Filing date
• NV (state) — State of incorporation
• AUSTIN (city) — Business address city
• TX (state) — Business address state

FAQ

Key Financial Figures

• $0 — ed March 31, 2024 and 2023, we recorded $0 of impairment charges. Earnin g s Per

Filing Documents

• reliant_10q.htm (10-Q) — 561KB
• reliant_ex311.htm (EX-31.1) — 13KB
• reliant_ex321.htm (EX-32.1) — 5KB
• reliant_10qimg2.jpg (GRAPHIC) — 9KB
• 0001477932-24-003162.txt ( ) — 2689KB
• relt-20240331.xsd (EX-101.SCH) — 30KB
• relt-20240331_lab.xml (EX-101.LAB) — 168KB
• relt-20240331_cal.xml (EX-101.CAL) — 34KB
• relt-20240331_pre.xml (EX-101.PRE) — 137KB
• relt-20240331_def.xml (EX-101.DEF) — 68KB
• reliant_10q_htm.xml (XML) — 295KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 4

Financial Statements

Item 1. Financial Statements 4 Consolidated Balance Sheets 4 Consolidated Statements of Operations 5 Consolidated Statements of Stockholders' Equity 6 Consolidated Statements of Cash Flows 7 Notes to the Consolidated Financial Statements 8

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 17

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

– OTHER INFORMATION

PART II – OTHER INFORMATION 24

Legal Proceedings

Item 1. Legal Proceedings 24

Risk Factors

Item 1A. Risk Factors 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 25

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 25

Other Information

Item 5. Other Information. 25

Exhibits

Item 6. Exhibits 26 2 Table of Contents Cautionary Statement Regarding Forward-Looking Information This Quarterly Report on Form 10-Q (this " Report ") contains forward-looking statements within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by the following words: " anticipate, " " believe, " " continue, " " could, " " estimate, " " expect, " " intend, " " may, " " ongoing, " " plan, " " potential, " " predict, " " project, " " should, " or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this Report. These factors include: the need for additional funding; the outcome of strategic transactions; our lack of a significant operating history; the fact that our sole officer and director has control over our voting stock; the loss of key personnel or failure to attract, integrate and retain additional personnel; corporate governance risks; economic downturns; the level of competition in our industry and our ability to compete; our ability to respond to changes in our industry; our ability to protect our intellectual property and not infringe on others' intellectual property; our ability to sc

– Financial Information

Part I – Financial Information

Financial Statements

Item 1. Financial Statements Reliant Holdings, Inc. and Subsidiary Consolidated Balance Sheets (Unaudited) March 31, December 31, 2024 2023 ASSETS Current Assets Cash $ 237,956 $ 309,377 Accounts receivable 1,000 1,000 House and real estate inventory 457,223 446,427 Total current assets 696,179 756,804 Equipment, net 83,617 90,886 Right-of-use asset 44,486 6,715 Total Assets $ 824,282 $ 854,405 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts payable and accrued liabilities $ 73,618 $ 58,878 Accrued liabilities - related parties 53,500 53,500 Contract liabilities 71,238 275,251 Construction Loan 220,309 220,309 Current portion of note payable 7,486 8,580 Current portion of right-of-use liability 25,739 6,783 Total current liabilities 451,890 623,301 Long-term note payable, net of current portion 50,898 53,658 Right-of-use liability 18,747 - Total Liabilities 521,535 676,959 Commitments and Contingencies Stockholders' Equity Preferred stock, 5,000,000 shares authorized, $ 0.001 par value, 0 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively - - Preferred stock Series A, 1,000 shares authorized, $ 0.001 par value, 1,000 issued and outstanding as of March 31, 2024 and December 31, 2023 1 1 Common stock, 70,000,000 shares authorized, $ 0.001 par value, 16,785,000 issued and outstanding as of March 31, 2024 and December 31, 2023 16,785 16,785 Additional paid-in capital 437,989 437,989 Accumulated deficit ( 152,028 ) ( 277,329 ) Total Stockholders' Equity 302,747 177,446 Total Liabilities and Stockholders' Equity $ 824,282 $ 854,405 The accompanying notes are an integral part of these unaudited consolidated financial statements. 4 Table of Contents Reliant Holdings, Inc. and Subsidiary Consolidated Statements of Operations (Unaudited) For the Three Months ended Marc

View Full Filing

View this 10-Q filing on SEC EDGAR