Summary by Moomoo AI
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