James Maritime Holdings Inc. Q1 2024 10-Q Filed
Ticker: SNTL · Form: 10-Q · Filed: Jun 6, 2024 · CIK: 889353
| Field | Detail |
|---|---|
| Company | James Maritime Holdings Inc. (SNTL) |
| Form Type | 10-Q |
| Filed Date | Jun 6, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, company-filing
TL;DR
**James Maritime Holdings Inc. Q1 2024 10-Q: $90M Assets, $8.57M Liabilities.**
AI Summary
James Maritime Holdings Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Out-Takes, Inc., reported financial data for Q1 2024. Key figures include $90 million in assets and $8.57 million in liabilities. The company is incorporated in Nevada and its fiscal year ends on December 31.
Why It Matters
This filing provides a snapshot of James Maritime Holdings Inc.'s financial health and operational status as of the first quarter of 2024, crucial for investors and creditors.
Risk Assessment
Risk Level: medium — The filing provides limited operational and financial detail, making it difficult to fully assess the company's risk profile.
Key Numbers
- $90.0M — Total Assets (As of March 31, 2024)
- $8.57M — Total Liabilities (As of March 31, 2024)
- Q1 2024 — Reporting Period (First quarter of 2024)
Key Players & Entities
- James Maritime Holdings Inc. (company) — Filer
- Out-Takes, Inc. (company) — Former company name
- 90000000 (dollar_amount) — Total Assets
- 8566429 (dollar_amount) — Total Liabilities
- 20240331 (date) — Reporting Period End Date
FAQ
What is the primary business of James Maritime Holdings Inc.?
The filing indicates the company's Standard Industrial Classification is SERVICES-PERSONAL SERVICES [7200].
What was the company's financial position at the end of Q1 2024?
As of March 31, 2024, James Maritime Holdings Inc. reported total assets of $90,000,000 and total liabilities of $8,566,429.
When was James Maritime Holdings Inc. formerly known as?
The company was formerly known as Out-Takes, Inc., with a name change date of October 7, 2014.
What is the company's state of incorporation and fiscal year end?
James Maritime Holdings Inc. is incorporated in Nevada (NV) and its fiscal year ends on December 31.
What is the filing date of this 10-Q report?
This 10-Q report was filed on June 6, 2024.
Filing Stats: 4,446 words · 18 min read · ~15 pages · Grade level 15.6 · Accepted 2024-06-06 14:24:05
Key Financial Figures
- $0.001 — 9 shares of our common stock, par value $0.001 per share, and 400,000 shares of our pr
Filing Documents
- jmtm_10q.htm (10-Q) — 540KB
- jmtm_ex311.htm (EX-31.1) — 13KB
- jmtm_ex312.htm (EX-31.2) — 13KB
- jmtm_ex321.htm (EX-32.1) — 9KB
- 0001096906-24-001315.txt ( ) — 3249KB
- jmtm-20240331.xsd (EX-101.SCH) — 38KB
- jmtm-20240331_lab.xml (EX-101.LAB) — 213KB
- jmtm-20240331_cal.xml (EX-101.CAL) — 43KB
- jmtm-20240331_pre.xml (EX-101.PRE) — 181KB
- jmtm-20240331_def.xml (EX-101.DEF) — 86KB
- jmtm_10q_htm.xml (XML) — 396KB
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 4-17
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 5
Quantitative and Qualitative Disclosure About Market Risk
Item 3. Quantitative and Qualitative Disclosure About Market Risk 7
Controls and Procedures
Item 4. Controls and Procedures 7
– OTHER INFORMATION
PART II – OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 8
Risk Factors
Item 1A. Risk Factors 8
Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities
Item 2. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities 8
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 8
Mine Safety Disclosure
Item 4. Mine Safety Disclosure 8
Other Information
Item 5. Other Information 8
Exhibits
Item 6. Exhibits 9
SIGNATURES
SIGNATURES 10 EXHIBIT INDEX 3 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Condensed Consolidated Financial Statements
Item 1. Condensed Consolidated Financial Statements James Maritime Holdings Inc. A Nevada Corporation Condensed Consolidated Financial Statements (Unaudited) March 31, 2024 James Maritime Holdings Inc. TABLE OF CONTENTS Page Condensed Consolidated Financial Statements: Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 F-2 Condensed Consolidated Statements of Operations (Unaudited) for the three months ended March 31, 2024 and 2023 F-3 Condensed Consolidated Statements of Shareholders' Equity (Unaudited) for the three months ended March 31, 2024 and 2023 F-4 Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended March 31, 2024 and 2023 F-5 Notes to Unaudited Condensed Consolidated Financial Statements F-6-F-17 4 Table of Contents JAMES MARITIME HOLDINGS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2024 (UNAUDITED) AND DECEMBER 31, 2023 March 31, 2024 December 31, 2023 ASSETS Cash $ 290,869 $ 45,551 Accounts receivables 371,835 720,112 Prepaid expenses and other current assets 453,071 42,724 Total current assets 1,115,775 808,387 Due from related parties 217,419 7,400 Intangible assets 2,088,274 2,088,274 Property and equipment, net 135,722 159,142 Right-of-use asset 319,204 346,986 Total assets $ 3,876,394 $ 3,410,189 LIABILITIES Accounts payable and accrued expenses $ 1,236,551 $ 1,455,216 Accrued payroll expenses 149,055 214,691 Due to related parties - 7,960 Notes payable, current portion 167,319 536,251 Convertible debenture, current portion 35,000 35,000 Loans payable, current portion 552,832 760,842 Embedded conversion feature 175,045 175,045 Operating lease liability, current 83,950 81,805 Total current liabilities 2,399,753 3,266,810 Notes payable, net of current portion 110,287 110,287 Loans payable, net of