PCS Edventures! Files Q1 Fiscal 2025 10-Q

TL;DR

PCS Edventures! dropped their Q1 FY25 10-Q. All systems go from Boise.

AI Summary

PCS Edventures!, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the first quarter of their fiscal year 2025, which began on April 1, 2024. The company is based in Boise, Idaho, and operates in the educational services sector.

Why It Matters

This filing provides investors with the latest financial performance and operational details for PCS Edventures!, Inc. for the first quarter of their fiscal year 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain immediate red flags.

Key Numbers

• Q1 FY2025 — Reporting Period (Covers April 1, 2024 to June 30, 2024)
• FY2025 — Fiscal Year (The company's current fiscal year)

Key Players & Entities

• PCS Edventures!, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240814 (date) — Filing date
• Boise, ID (location) — Company headquarters

FAQ

Filing Documents

• form10-q.htm (10-Q) — 365KB
• ex31-1.htm (EX-31.1) — 9KB
• ex31-2.htm (EX-31.2) — 10KB
• ex32.htm (EX-32) — 5KB
• 0001493152-24-031956.txt ( ) — 2126KB
• pcsv-20240630.xsd (EX-101.SCH) — 16KB
• pcsv-20240630_cal.xml (EX-101.CAL) — 36KB
• pcsv-20240630_def.xml (EX-101.DEF) — 30KB
• pcsv-20240630_lab.xml (EX-101.LAB) — 179KB
• pcsv-20240630_pre.xml (EX-101.PRE) — 142KB
• form10-q_htm.xml (XML) — 161KB

, Other Information, Item 6, Exhibits

Part II, Other Information, Item 6, Exhibits. PCS EDVENTURES!, Inc. FORM 10-Q FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 INDEX Page PART I – FINANCIAL INFORMATION 3 ITEM 1. Condensed Financial Statements (unaudited) 3 Condensed Balance Sheets as of June 30, 2024 (unaudited), and March 31, 2024 4 Condensed Statements of Operations for the Three Months ended June 30, 2024, and 2023 (unaudited) 5 Condensed Statement of Stockholders' Equity for the Three Months ended June 30, 2024, and 2023 (unaudited) 6 Condensed Statements of Cash Flows for the Three Months ended June 30, 2024, and 2023 (unaudited) 7 Notes to the Condensed Financial Statements (unaudited) 8 ITEM 2.

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

Management's Discussion and Analysis of Financial Conditions and Results of Operations 12 ITEM 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 16 ITEM 4.

Controls and Procedures

Controls and Procedures 16 PART II - OTHER INFORMATION 16 ITEM 1.

Legal Proceedings

Legal Proceedings 16 ITEM 1A.

Risk Factors

Risk Factors 16 ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 ITEM 3. Defaults Upon Senior Securities 17 ITEM 4. Mine Safety Disclosures 17 ITEM 5. Other Information 17 ITEM 6. EXHIBIT INDEX 17

SIGNATURES

SIGNATURES 18 2 PART I –FINANCIAL INFORMATION PART I – FINANCIAL INFORMATION Item 1. Condensed Financial Statements The Condensed Financial Statements of the Registrant required to be filed with this 10-Q Quarterly Report were prepared by management and commence below, together with related notes. In the opinion of management, the Condensed Financial Statements fairly present the financial condition of the Registrant. (This space intentionally left blank.) 3 PCS EDVENTURES!, INC. Condensed Balance Sheets June 30, 2024 (Unaudited) March 31, 2024 (Audited) CURRENT ASSETS Cash $ 2,652,716 $ 1,329,708 Accounts receivable, net of allowance for doubtful accounts of $ 34,204 1,598,556 1,675,859 Prepaid expenses 490,852 394,091 Inventory, net 2,040,338 2,025,483 Total Current Assets 6,782,462 5,425,141 NONCURRENT ASSETS Lease Right-of-Use Asset 245,557 273,905 Deposits 6,300 6,300 Property and equipment, net 69,211 43,739 Deferred tax asset 2,541,259 2,541,259 Total Noncurrent Assets 2,862,327 2,865,203 TOTAL ASSETS $ 9,644,789 $ 8,290,344 CURRENT LIABILITIES Accounts payable $ 219,332 $ 100,853 Payroll liabilities and accrued expenses 282,553 229,970 Deferred revenue 82,870 14,549 Lease Liability, current portion 63,321 70,782 Total Current Liabilities 648,076 416,154 Lease Liability, net of current portion 196,205 218,373 Total Noncurrent Liabilities 196,205 218,373 TOTAL LIABILITIES 844,281 634,527 STOCKHOLDERS' EQUITY (DEFICIT) Preferred stock, no par value, 20,000,000 authorized shares, no shares issued and outstanding - - Common stock, no par value, 150,000,000 authorized shares, 124,733,494 and 124,733,494 shares issued and outstanding - - Additional Paid-in Capital 40,570,459 40,570,459 Accumulated deficit ( 31,769,951 ) ( 32,914,642 ) Total Stockholders' Equity 8,800,508 7,655,817 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 9,644,7

forward-looking statements to reflect events or circumstances after the date of such statements

forward-looking statements to reflect events or circumstances after the date of such statements. The following discussion should be read in conjunction with Item 1, Condensed Financial Statements , in Part I of this Quarterly Report. Overview of Current and Planned Operations PCS Edventures!, Inc. sells STEM / STEAM products to educational and recreational entities serving youth. At this time, we do not attempt to align our products to fit in the classroom setting although we are aware that some of our customers use our products to fill enrichment time blocks in the classroom during formal school time. Classroom curriculum must align with specific state standards to be considered for use. Each state has their own unique set of standards, making classroom curriculum development a state by-state endeavor. On the other hand, out of school programs are not subject to a state governmental standard alignments, although these programs often require that educational programs align with various sets of state or national educational standards. This difference makes it easier to penetrate out-of-school programs, as more freedoms exist for curriculum development. We focus our efforts on these out-of-school programs, which include summer school, summer camps, YMCA programs, Boys and Girls club programs, and various other programs offered outside of the classroom, at all times of the year, that are too numerous to list. Oftentimes, these programs are sponsored, administered, and/or supported by local school districts, and we employ considerable efforts to build relationships with these types of school districts to provide desired programing for their out-of-school programs. The majority of the time, the out-of-school programs offered are funded with grants; however, some programs are run on a for-profit basis. The Company sells to all of these types of entities. We offer professional development training for instructors using our products; and typically charge a fee for

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