LQR House Inc., a company operating in the beverage alcohol industry, has released its consolidated financial statements for the years ended December 31, 2023, and 2022. The financial performance of LQR House Inc. shows a net loss of $15,747,724 for the year 2023, compared to a net loss of $1,842,175 for the year 2022. The company's revenue from services was $474,048 in 2023, with an additional $646,574 from product sales, totaling $1,120,622 in revenues. This represents an increase from the total revenues of $601,131 in 2022. However, the cost of revenue exceeded the total revenues, resulting in a gross loss. The company's operating expenses were significant, leading to a substantial loss from operations. LQR House Inc. has raised capital through an initial public offering (IPO) and additional public offerings, totaling approximately...Show More

LQR House Inc., a company operating in the beverage alcohol industry, has released its consolidated financial statements for the years ended December 31, 2023, and 2022. The financial performance of LQR House Inc. shows a net loss of $15,747,724 for the year 2023, compared to a net loss of $1,842,175 for the year 2022. The company's revenue from services was $474,048 in 2023, with an additional $646,574 from product sales, totaling $1,120,622 in revenues. This represents an increase from the total revenues of $601,131 in 2022. However, the cost of revenue exceeded the total revenues, resulting in a gross loss. The company's operating expenses were significant, leading to a substantial loss from operations. LQR House Inc. has raised capital through an initial public offering (IPO) and additional public offerings, totaling approximately $16.6 million in 2023. The company's cash and cash equivalents at the end of 2023 were $7,064,348, a significant increase from $7,565 at the end of 2022. In terms of business development, LQR House Inc. has acquired the CWS Platform and entered into various agreements, including a Domain Name Transfer Agreement with SSquared Spirits LLC. The company's future plans involve continuing its operations and seeking additional capital to fund its business, as it faces substantial doubt about its ability to continue as a going concern due to sustained net losses and negative cash flow from operations. Management's plans to address these concerns include raising additional capital through debt and equity financings.