ECRID's Static Q3: No Growth, Persistent Losses

TL;DR

ECRID is a zombie company with no financial movement, avoid at all costs.

AI Summary

ECRID, INC's 10-Q filing for the period ending December 31, 2022, indicates a company with a history of name changes, formerly known as ICE HOLDINGS INC, SKYDOOR MEDIA & ENTERTAINMENT INC, and VEGAS CHIPS INC. The filing provides financial data for the nine months ended December 31, 2022, and December 31, 2021, as well as the three months ended on those dates. Key financial components like Common Stock, Additional Paid-In Capital, Retained Earnings, and Subscription Receivable are detailed across these periods. For instance, Common Stock remained consistent at 10,000 shares for both December 31, 2022, and December 31, 2021. Additional Paid-In Capital was $1,000,000 as of December 31, 2022, and December 31, 2021. Retained Earnings showed a deficit of -$1,000,000 for both periods, indicating accumulated losses. Subscription Receivable was $0 for all periods presented, suggesting no outstanding subscriptions. The filing does not provide specific revenue or net income figures, making a detailed financial performance analysis challenging without further context. The company operates in the consumer credit reporting and collection agencies sector.

Why It Matters

This filing reveals ECRID, INC's stagnant financial position with no changes in key equity accounts like Common Stock, Additional Paid-In Capital, and Retained Earnings over the past year. For investors, this signals a lack of operational activity or significant financial events, raising questions about the company's growth prospects and viability in the competitive consumer credit reporting sector. Employees might face uncertainty regarding the company's future if this trend of inactivity continues. Customers, while not directly impacted by these specific financial figures, could eventually see service quality suffer if the company lacks investment. The broader market might view ECRID as a non-player, especially compared to more dynamic competitors in the credit reporting industry.

Risk Assessment

Risk Level: high — The risk level is high due to the complete lack of change in key financial metrics such as Common Stock, Additional Paid-In Capital, and Retained Earnings between December 31, 2021, and December 31, 2022. Retained Earnings consistently show a deficit of -$1,000,000, indicating persistent losses and no signs of profitability or operational improvement. The absence of any Subscription Receivable also suggests a lack of new business or revenue streams.

Analyst Insight

Investors should exercise extreme caution and likely avoid ECRID, INC given the stagnant financial statements and persistent retained earnings deficit of -$1,000,000. This filing suggests a company with minimal to no operational activity or growth, making it a high-risk investment with little potential for returns.

Key Numbers

• $1,000,000 — Additional Paid-In Capital (Unchanged from Dec 31, 2021, to Dec 31, 2022, indicating no new capital infusion.)
• -$1,000,000 — Retained Earnings (Consistent deficit from Dec 31, 2021, to Dec 31, 2022, showing persistent losses.)
• 10,000 — Common Stock shares (Unchanged from Dec 31, 2021, to Dec 31, 2022, suggesting no equity issuance or buybacks.)
• $0 — Subscription Receivable (Zero for all periods, indicating no outstanding customer subscriptions.)

Key Players & Entities

• ECRID, INC (company) — filer of the 10-Q
• ICE HOLDINGS INC (company) — former company name of ECRID, INC
• SKYDOOR MEDIA & ENTERTAINMENT INC (company) — former company name of ECRID, INC
• VEGAS CHIPS INC (company) — former company name of ECRID, INC
• $1,000,000 (dollar_amount) — Additional Paid-In Capital as of Dec 31, 2022
• -$1,000,000 (dollar_amount) — Retained Earnings deficit as of Dec 31, 2022
• 10,000 (dollar_amount) — shares of Common Stock as of Dec 31, 2022
• SEC (regulator) — recipient of the 10-Q filing

FAQ

Industry Context

ECRID, INC. operates within the consumer credit reporting and collection agencies sector. This industry is characterized by its reliance on data accuracy, regulatory compliance, and the management of sensitive financial information. Key trends include the increasing digitization of credit reporting, the use of advanced analytics for debt collection, and evolving consumer privacy regulations.

Regulatory Implications

As a consumer credit reporting and collection agency, ECRID, INC. is subject to stringent regulations such as the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). Non-compliance can lead to significant fines, legal actions, and reputational damage.

What Investors Should Do

1. Seek clarification on revenue and net income figures.
2. Investigate the reasons for the persistent retained earnings deficit.
3. Analyze the company's business strategy and competitive positioning.

Key Dates

• 1996-10-23: Name change from ICE HOLDINGS INC — Indicates a history of corporate restructuring and potential shifts in business focus.
• 1996-02-06: Name change from SKYDOOR MEDIA & ENTERTAINMENT INC — Further highlights past transformations, suggesting a long operational history with evolving identities.
• 1992-07-03: Name change from VEGAS CHIPS INC — The earliest recorded name change, pointing to a significant period of corporate evolution.
• 2022-12-31: Period End Date for 10-Q Filing — Represents the financial snapshot for the nine months and three months ending this date.
• 2021-12-31: Prior Period End Date — Provides a comparative basis for financial performance analysis over the nine-month and three-month periods.

Glossary

Additional Paid-In Capital

The amount of money a company receives from selling stock above its par value. (ECRID, INC. has $1,000,000 in this account, which has remained unchanged, indicating no new equity financing in the reported periods.)

Retained Earnings

The cumulative amount of net income that a company has retained over time, rather than distributing as dividends. (The consistent deficit of -$1,000,000 signifies accumulated losses, a critical indicator of the company's historical profitability.)

Common Stock

Represents ownership in a corporation and the shares that have been issued. (The static 10,000 shares outstanding suggest no recent stock issuances or buybacks, providing stability in the share count.)

Subscription Receivable

Money owed to a company by customers for goods or services that have been subscribed to but not yet paid for. (A value of $0 indicates no outstanding customer subscription payments, simplifying the accounts receivable picture.)

Consumer Credit Reporting, Collection Agencies

Businesses that gather and report credit information on individuals and businesses, and collect debts on behalf of creditors. (This is ECRID, INC.'s stated industry, providing context for its operations and the regulatory environment it operates within.)

Year-Over-Year Comparison

The provided data for the period ending December 31, 2022, shows no change in key balance sheet items like Common Stock (10,000 shares), Additional Paid-In Capital ($1,000,000), and Retained Earnings (-$1,000,000 deficit) compared to the prior period. Subscription Receivable also remained at $0. This lack of movement in core equity accounts suggests a period of financial stasis, with no new capital infusions or significant operational changes reflected in these specific metrics. Crucially, revenue and net income figures are not detailed, preventing a year-over-year performance comparison.

Filing Details

This Form 10-Q (Form 10-Q) was filed with the SEC on August 6, 2025 regarding ECRID, INC.

View full filing on EDGAR

View Full Filing

View this 10-Q filing on SEC EDGAR