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Cheetah Net Supply Chain Service | 8-K: Cheetah Net Supply Chain Service Inc. Announces Third Quarter 2024 Results and Provides Corporate Update

Cheetah Net Supply Chain Service | 8-K: Cheetah Net Supply Chain Service Inc. Announces Third Quarter 2024 Results and Provides Corporate Update

Cheetah Net Supply Chain Service | 8-K:猎豹网络供应链服务公司公布2024年第三季度业绩并提供公司最新情况
美股SEC公告 ·  2024/11/13 16:18

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Cheetah Net Supply Chain Service reported Q3 2024 revenue of $61,208, down 99.4% YoY from $10 million, as the company transitions from parallel-import vehicles to logistics and warehousing operations. The quarter saw a net loss of $1.8 million compared to net income of $0.1 million in Q3 2023, impacted by $1.1 million in credit loss allowances and increased operating expenses.The company completed several strategic initiatives, including relocating headquarters to Irvine, CA, raising $1.1 million through a public offering, and implementing a 1-for-16 reverse stock split. Management remains focused on business transformation despite near-term challenges, citing potential benefits from proximity to major California ports.As of September 30, 2024, the company maintained a solid financial position with $5.3 million in cash and working capital of $11.6 million. Management believes current liquidity and available financing options will support operations for at least 12 months, while continuing to seek new business opportunities in logistics and warehousing.
Cheetah Net Supply Chain Service reported Q3 2024 revenue of $61,208, down 99.4% YoY from $10 million, as the company transitions from parallel-import vehicles to logistics and warehousing operations. The quarter saw a net loss of $1.8 million compared to net income of $0.1 million in Q3 2023, impacted by $1.1 million in credit loss allowances and increased operating expenses.The company completed several strategic initiatives, including relocating headquarters to Irvine, CA, raising $1.1 million through a public offering, and implementing a 1-for-16 reverse stock split. Management remains focused on business transformation despite near-term challenges, citing potential benefits from proximity to major California ports.As of September 30, 2024, the company maintained a solid financial position with $5.3 million in cash and working capital of $11.6 million. Management believes current liquidity and available financing options will support operations for at least 12 months, while continuing to seek new business opportunities in logistics and warehousing.
猎豹网络供应链服务公司报告2024年第三季度营业收入为61208美元,同比下降99.4%,去年为1000万,因为公司正在从平行进口车辆转向物流和仓储业务。该季度净亏损为180万,而2023年第三季度的净利润为10万,受到110万信用损失准备金和增加的营业费用的影响。公司完成了几项战略举措,包括将总部迁至加州欧文,通过公开募股筹集110万,并实施1拆16的反向股票分割。管理层继续专注于业务转型,尽管面临短期挑战,并指出靠近加州主要港口可能带来的潜在好处。截至2024年9月30日,公司保持了良好的财务状况,现金为530万,营运资金为1160万。管理层相信当前的流动性和可用的融资期权将支持至少12个月的运营,同时继续寻找物流和仓储的新业务机会。
猎豹网络供应链服务公司报告2024年第三季度营业收入为61208美元,同比下降99.4%,去年为1000万,因为公司正在从平行进口车辆转向物流和仓储业务。该季度净亏损为180万,而2023年第三季度的净利润为10万,受到110万信用损失准备金和增加的营业费用的影响。公司完成了几项战略举措,包括将总部迁至加州欧文,通过公开募股筹集110万,并实施1拆16的反向股票分割。管理层继续专注于业务转型,尽管面临短期挑战,并指出靠近加州主要港口可能带来的潜在好处。截至2024年9月30日,公司保持了良好的财务状况,现金为530万,营运资金为1160万。管理层相信当前的流动性和可用的融资期权将支持至少12个月的运营,同时继续寻找物流和仓储的新业务机会。
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