RiskOn International, Inc. (formerly Ecoark Holdings Inc. and BitNile Metaverse Inc.) reported its financial performance for the quarter ended December 31, 2023. The company, which operates in the metaverse and hospitality sectors, as well as business education through RiskOn360, generated $240,356 in revenue from RiskOn360. However, it incurred a gross loss of $1,817,668 due to high costs of revenue amounting to $2,058,024. Operating expenses were significant, with salaries at $1,038,788, professional and consulting fees at $359,745, and selling, general, and administration expenses at $6,897,295. The company also reported depreciation and amortization costs of $125,016. Consequently, RiskOn International experienced an operating loss of $10,238,512. Other expenses included a change in fair value of derivative liabilities, dividend expense, loss on conversion of derivative liability to common stock, gain on conversion of notes, loss on...Show More

RiskOn International, Inc. (formerly Ecoark Holdings Inc. and BitNile Metaverse Inc.) reported its financial performance for the quarter ended December 31, 2023. The company, which operates in the metaverse and hospitality sectors, as well as business education through RiskOn360, generated $240,356 in revenue from RiskOn360. However, it incurred a gross loss of $1,817,668 due to high costs of revenue amounting to $2,058,024. Operating expenses were significant, with salaries at $1,038,788, professional and consulting fees at $359,745, and selling, general, and administration expenses at $6,897,295. The company also reported depreciation and amortization costs of $125,016. Consequently, RiskOn International experienced an operating loss of $10,238,512. Other expenses included a change in fair value of derivative liabilities, dividend expense, loss on conversion of derivative liability to common stock, gain on conversion of notes, loss on disposal of fixed assets, amortization of discounts, loss on redemption of Series A preferred stock, and net interest expense, leading to a total other expense of $4,316,742. The loss from continuing operations before discontinued operations was $14,555,254. The company also reported a loss from discontinued operations of $243,863. The net loss for the quarter was $14,799,117. In terms of business development, RiskOn International has been focusing on the metaverse platform BitNile.com and the educational conference series RiskOn360. The company also formed a new subsidiary, GuyCare, Inc., which specializes in men's health and wellness services. Looking ahead, RiskOn International plans to continue developing its metaverse platform, expand the capabilities of its AI products, and grow its business education offerings through RiskOn360. The company's future plans are contingent on securing additional capital to fund operations and achieve profitability.