Carriage House Event Center Reports $21,901 Net Loss and $0 Cash Balance in Q1 2025

Carriage House Event Center, Inc. reported a net loss of $21,901 for the first quarter of 2025, a significant increase from the $5,790 loss recorded in the same period of 2024. The company's operating expenses rose sharply to $21,901, up 378% from $5,790 year-over-year, primarily due to increased overhead costs associated with a change in control of the company. The financial statements indicate that the company has not generated any revenue during this period, maintaining a cash balance of $0 as of March 31, 2025.

In terms of financial position, Carriage House's total assets were reported at $0, down from $31,901 at the end of 2024. The company’s liabilities also decreased to $0 from $184,800, following the forgiveness of related party debts. The stockholders' deficit increased to $208,950, compared to $187,049 at the end of the previous fiscal year. The company has been primarily financed through related party loans, and the absence of cash reserves raises concerns about its ability to sustain operations without additional funding.

Strategically, the company has undergone significant organizational changes, including a shift in leadership. Following a stock purchase agreement in January 2025, Lei He was appointed as the new Chief Executive Officer and Chief Financial Officer, while A. Terry Ray and Janel Jean-Baptiste resigned from their executive positions. The company is also exploring potential acquisitions in the cinema management industry, aiming to pivot its business model in response to the challenges posed by the COVID-19 pandemic.

Operationally, Carriage House has not reported any customer counts or engagement metrics, as it has not yet commenced its planned operations. The company’s focus for the remainder of 2025 will be on raising additional capital and pursuing acquisition opportunities. However, the management has acknowledged that if it fails to secure the necessary funding, it may need to consider alternative strategies, including potential mergers or changes to its business plan.

Looking ahead, the company faces substantial uncertainty regarding its ability to continue as a going concern. The management has indicated that it may rely on informal financial support from its director, Lei He, but there are no formal commitments in place. The financial statements reflect this uncertainty, as they do not include adjustments that might result from the outcome of the company's ongoing operational challenges.