Elite Performance Reports Zero Revenue, Deepening Losses Amid Patent Push

TL;DR

**Elite Performance is a zombie company with no revenue and a massive deficit; avoid at all costs.**

AI Summary

Elite Performance Holding Corp. reported no revenue for the three and six months ended June 30, 2025, a significant decline from $611 and $681 in revenue for the corresponding periods in 2024. The company incurred a net loss of $362,445 for the three months ended June 30, 2025, up from $235,012 in the prior year, and a net loss of $643,992 for the six months ended June 30, 2025, an improvement from $731,631 in 2024. Operating expenses for the six months ended June 30, 2025, decreased to $510,713 from $637,125 in 2024, primarily due to reduced consulting and general and administrative expenses. The company's accumulated deficit grew to $11,827,766 as of June 30, 2025, from $11,183,774 at December 31, 2024. Cash on hand increased to $12,953 as of June 30, 2025, from $0 at December 31, 2024, largely due to $371,000 in proceeds from notes payable. The company filed U.S. Provisional Patent Application No. 63/831,615 on June 27, 2025, for a dual-phase SmartCarb system to improve its BYLT Drinks formula and protect intellectual property. Elite Performance Holding Corp. continues to operate with a substantial doubt about its ability to continue as a going concern, relying on future financing and successful product marketing.

Why It Matters

Elite Performance Holding Corp.'s continued lack of revenue and growing accumulated deficit of $11,827,766 as of June 30, 2025, signals severe operational challenges for investors. The company's reliance on new debt or equity financing to market its sports drinks, as stated in the filing, indicates high risk. For employees and customers, the 'going concern' warning raises questions about the company's long-term viability and product availability. In a competitive sports nutrition market, Elite Performance's inability to generate sales, despite holding intellectual property like the SmartCarb technology, suggests it's falling behind established players and struggling to commercialize its offerings.

Risk Assessment

Risk Level: high — The company explicitly states it has an "accumulated deficit of $11,827,766" and that its ability to continue as a going concern is dependent on "continued financial support from its management, its ability to generate profits from the Company's future operations, identify future investment opportunities and obtain the necessary debt or equity financing." Furthermore, it reported $0 in revenue for the three and six months ended June 30, 2025, indicating a complete lack of operational income.

Analyst Insight

Investors should avoid Elite Performance Holding Corp. given its zero revenue, significant accumulated deficit of $11,827,766, and explicit 'going concern' warning. The company's reliance on future financing without a clear path to profitability makes it a highly speculative and risky investment.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$118,947

total Debt

$3,424,539

net Income

$(362,445)

eps

N/A

gross Margin

N/A

cash Position

$12,953

revenue Growth

-100.0%

Revenue Breakdown

Key Numbers

• $0 — Revenue (for the three and six months ended June 30, 2025, down from $611 and $681 respectively in 2024)
• $(362,445) — Net Loss (Q2 2025) (increased from $(235,012) in Q2 2024)
• $(643,992) — Net Loss (YTD Q2 2025) (improved from $(731,631) in YTD Q2 2024)
• $(11,827,766) — Accumulated Deficit (as of June 30, 2025, indicating substantial historical losses)
• $12,953 — Cash (as of June 30, 2025, up from $0 at December 31, 2024, primarily from debt proceeds)
• $1,595,516 — Convertible Notes Payable (as of June 30, 2025, a significant liability that could dilute common stock)
• 12,419,646 — Common Shares Outstanding (as of August 14, 2025)
• $510,713 — Total Operating Expenses (YTD Q2 2025) (decreased from $637,125 in YTD Q2 2024)
• $371,000 — Proceeds from Notes Payable (for the six months ended June 30, 2025, a primary source of cash)
• 2,588,575 — Potential Dilutive Shares (from convertible notes as of June 30, 2025)

Key Players & Entities

• Elite Performance Holding Corp. (company) — registrant and holding company
• Elite Beverage International Corp. (company) — wholly owned subsidiary of Elite Performance Holding Corp.
• BYLT Performance, LLC (company) — wholly owned subsidiary of Elite Beverage International Corp. holding trademarks and IP
• Joseph Firestone (person) — assignor of Elite Beverage International Corp. shares
• Jon McKenzie (person) — assignor of Elite Beverage International Corp. shares
• Bruce Kneller (person) — developer of SmartCarb technology
• SEC (regulator) — Securities and Exchange Commission
• $11,827,766 (dollar_amount) — accumulated deficit as of June 30, 2025
• $0 (dollar_amount) — revenue for the three and six months ended June 30, 2025
• $362,445 (dollar_amount) — net loss for the three months ended June 30, 2025

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company's ability to continue as a going concern is subject to substantial doubt due to its lack of revenue and accumulated deficit of $11,827,766 as of June 30, 2025. Operations are dependent on future financing and successful product marketing.
• Significant Accumulated Deficit [high — financial]: The accumulated deficit has grown to $11,827,766 as of June 30, 2025, from $11,183,774 at December 31, 2024, indicating a history of net losses and a substantial need for future profitability.
• Dependence on Debt Financing [high — financial]: The company's cash position of $12,953 as of June 30, 2025, is primarily derived from $371,000 in proceeds from notes payable. This reliance on debt financing increases financial risk and potential dilution.
• Potential Dilution from Convertible Notes [medium — financial]: Outstanding convertible notes payable, net, amounted to $1,595,516 as of June 30, 2025. Conversion of these notes could result in the issuance of 2,588,575 common shares, significantly diluting existing shareholders.
• Zero Revenue Generation [high — operational]: The complete absence of revenue for the three and six months ended June 30, 2025, is a critical operational failure. This indicates a severe lack of market traction or product acceptance for its offerings.
• Increasing Net Loss in Q2 [high — operational]: The net loss for the three months ended June 30, 2025, increased to $362,445 from $235,012 in the prior year, despite reduced operating expenses. This suggests cost control measures are insufficient to offset the lack of revenue.
• Intellectual Property Protection [low — legal]: The company filed a U.S. Provisional Patent Application No. 63/831,615 for its dual-phase SmartCarb system. While this aims to protect IP, the success and commercialization of this technology are unproven.

Industry Context

The performance beverage market, particularly for functional drinks like BYLT, is highly competitive. Companies often rely on innovation, intellectual property, and effective marketing to gain market share. Elite Performance Holding Corp. appears to be in the early stages of product development and IP protection, facing established players with significant resources.

Regulatory Implications

As a company seeking to commercialize new products, Elite Performance Holding Corp. must comply with food and beverage regulations, including labeling and safety standards. The provisional patent filing suggests an awareness of IP law, but the long-term success of patent protection and commercialization remains to be seen.

What Investors Should Do

1. Monitor future financing activities closely.
2. Evaluate the commercial viability of the SmartCarb system and BYLT Drinks.
3. Assess the potential dilution from convertible notes.
4. Review any subsequent filings for signs of revenue generation or improved financial stability.

Key Dates

• 2025-06-30: End of Q2 2025 — Reported $0 revenue, a net loss of $362,445 for the quarter, and cash of $12,953. Accumulated deficit reached $11,827,766.
• 2025-06-27: U.S. Provisional Patent Application Filed — Filed application for dual-phase SmartCarb system, indicating efforts to protect intellectual property for its BYLT Drinks formula.
• 2024-06-30: End of Q2 2024 — Reported $611 in revenue for the quarter and a net loss of $235,012.

Glossary

Accumulated Deficit

The total net losses a company has incurred since its inception, minus any net profits. It represents a negative balance in retained earnings. (Indicates the company's historical unprofitability, with a significant deficit of $11,827,766 as of June 30, 2025.)

Going Concern

An assumption that a company will continue to operate for the foreseeable future, typically at least the next 12 months. If there is substantial doubt, it must be disclosed. (The company operates under substantial doubt about its ability to continue as a going concern, highlighting significant financial risks.)

Convertible Notes Payable

Debt instruments that can be converted into a predetermined amount of the issuer's equity (stock) at certain times during their life. (Represents a significant liability of $1,595,516 as of June 30, 2025, with potential to dilute common stock upon conversion.)

Provisional Patent Application

A temporary patent application that establishes an early filing date for an invention, allowing the applicant one year to file a regular non-provisional patent application. (Filed for the SmartCarb system, showing an effort to protect intellectual property, though it does not grant full patent rights.)

Year-Over-Year Comparison

Revenue has plummeted from $611 and $681 in the prior year's comparable periods to $0 for the three and six months ended June 30, 2025. While operating expenses for the six months decreased to $510,713 from $637,125, the net loss for the quarter widened to $362,445 from $235,012, indicating a worsening operational performance despite cost controls. The accumulated deficit has increased, and the cash position, though improved from $0, remains critically low at $12,953, primarily due to debt.

Key Financial Figures

• $0.0001 — hares of the registrant's common stock, $0.0001 par value, issued and outstanding. FIN

Filing Documents

• elite_10q.htm (10-Q) — 685KB
• elite_ex311.htm (EX-31.1) — 12KB
• elite_ex312.htm (EX-31.2) — 12KB
• elite_ex321.htm (EX-32.1) — 5KB
• elite_10qimg1.jpg (GRAPHIC) — 28KB
• 0001477932-25-005855.txt ( ) — 3657KB
• elite-20250630.xsd (EX-101.SCH) — 41KB
• elite-20250630_lab.xml (EX-101.LAB) — 247KB
• elite-20250630_cal.xml (EX-101.CAL) — 36KB
• elite-20250630_pre.xml (EX-101.PRE) — 199KB
• elite-20250630_def.xml (EX-101.DEF) — 105KB
• elite_10q_htm.xml (XML) — 404KB

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA. C O N T E N T S Elite Performance Holding Corp. Consolidated Balance Sheets as of June 30, 2025 (unaudited) and December 31, 2024 3 Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 (unaudited) 4 Consolidated Statements of Stockholders Deficit for the three and six months ended June 30, 2025 and 2024 (unaudited) 5 Consolidated Statements of Cash Flows for the three and six months ended June 30, 2025 and 2024 (unaudited) 6 Notes to the Consolidated Financial Statements 7 2 Table of Contents Elite Performance Holding Corp. Consolidated Balance Sheets June 30, December 31, 2025 2024 ASSETS (Unaudited) CURRENT ASSETS Cash $ 12,953 $ - Prepaid expenses 15,055 14,069 Total Current Assets 28,008 14,069 Property and equipment, net 24,584 27,515 Right of use asset 66,355 78,075 TOTAL ASSETS $ 118,947 $ 119,659 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable $ 911,356 $ 835,695 Accounts payable and accrued expenses related party 321,865 268,140 Accrued expenses 420,934 309,573 Lease liability - current 20,157 22,110 Advances 11,000 11,000 Convertible notes payable, net 1,595,516 1,272,216 Total Current Liabilities 3,280,828 2,718,734 Longterm Liabilities Lease liability - long-term 48,226 60,364 PPP Loan 95,485 95,485 Total Long-Term Liabilities 143,711 155,849 Total Liabilities 3,424,539 2,874,583 Commitments and Contingencies - - STOCKHOLDERS' DEFICIT Preferred stock; $ 0.0001 par value, 35,000,000 shares authorized, 10,000,000 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 1,000 1,000 Common stock; $ 0.0001 par value, 465,000,000 shares authorized, 12,063,844 and 12,419,646 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 12,611 12,064 Shares to

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View this 10-Q filing on SEC EDGAR