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GD Culture Group | 10-Q: Q3 2024 Earnings Report

GD Culture Group | 10-Q: Q3 2024 Earnings Report

GD Culture Group | 10-Q:2024财年三季报
美股SEC公告 ·  2024/11/14 13:36

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GD Culture Group reported a Q3 2024 net loss of $3.84 million, compared to a $3.53 million loss in Q3 2023. The company recorded no revenue for the quarter, while operating expenses decreased 31.5% to $1.09 million, driven by lower general and administrative costs of $0.87 million. The results were impacted by $2.76 million in impairment losses from convertible notes and intangible assets.The company has shifted its strategic focus to virtual content production through AI-driven digital human creation, live streaming e-commerce, and interactive gaming. Operating expenses included $2,909 in selling expenses and $217,500 in research and development costs as the company increased investments in artificial intelligence marketing and digital human applications.As of September 30, 2024, GD Culture maintained $31,969 in cash with working capital of $1.2 million. The CEO provided a letter of financial support and loans totaling $309,500 to fund operations. Management believes current working capital and support will be sufficient for the next 12 months, though the company plans to raise additional capital.
GD Culture Group reported a Q3 2024 net loss of $3.84 million, compared to a $3.53 million loss in Q3 2023. The company recorded no revenue for the quarter, while operating expenses decreased 31.5% to $1.09 million, driven by lower general and administrative costs of $0.87 million. The results were impacted by $2.76 million in impairment losses from convertible notes and intangible assets.The company has shifted its strategic focus to virtual content production through AI-driven digital human creation, live streaming e-commerce, and interactive gaming. Operating expenses included $2,909 in selling expenses and $217,500 in research and development costs as the company increased investments in artificial intelligence marketing and digital human applications.As of September 30, 2024, GD Culture maintained $31,969 in cash with working capital of $1.2 million. The CEO provided a letter of financial support and loans totaling $309,500 to fund operations. Management believes current working capital and support will be sufficient for the next 12 months, though the company plans to raise additional capital.
GD文化集团报告2024年第三季度净亏损384万美元,与2023年第三季度的353万美元亏损相比有所增加。该公司在本季度没有营业收入,而营业费用减少了31.5%,降至109万美元,主要是由于一般和行政成本降低至87万美元。业绩受到可转换票据和无形资产减值损失276万美元的影响。该公司已将战略重心转向通过人工智能驱动的数字人类创作进行虚拟内容生产、直播电子商务和互动游戏。营业费用中包括2,909美元的销售费用和217,500美元的研发成本,因为公司增加了对人工智能营销和数字人类应用的投资。截至2024年9月30日,GD文化持有31,969美元的现金,运营资金为120万美元。首席执行官提供了总计309,500美元的财务支持和贷款,以资助运营。管理层相信当前的营运资金和压力位将足以支撑接下来的12个月,尽管公司计划筹集更多资金。
GD文化集团报告2024年第三季度净亏损384万美元,与2023年第三季度的353万美元亏损相比有所增加。该公司在本季度没有营业收入,而营业费用减少了31.5%,降至109万美元,主要是由于一般和行政成本降低至87万美元。业绩受到可转换票据和无形资产减值损失276万美元的影响。该公司已将战略重心转向通过人工智能驱动的数字人类创作进行虚拟内容生产、直播电子商务和互动游戏。营业费用中包括2,909美元的销售费用和217,500美元的研发成本,因为公司增加了对人工智能营销和数字人类应用的投资。截至2024年9月30日,GD文化持有31,969美元的现金,运营资金为120万美元。首席执行官提供了总计309,500美元的财务支持和贷款,以资助运营。管理层相信当前的营运资金和压力位将足以支撑接下来的12个月,尽管公司计划筹集更多资金。
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