The Crypto Company reported a significant decline in financial performance for the fiscal year ending December 31, 2024, with revenues from consulting services totaling $44,814, a decrease of 77.3% from $197,459 in 2023. The company attributed this drop primarily to reduced online sales, as artificial intelligence programs offering similar services became available at no cost from various providers. Despite the revenue decline, the cost of services also decreased to $9,394 from $313,756 in the previous year, reflecting a reduction in operational expenses.
General and administrative expenses for the company fell by 57.5% to $890,435 in 2024, down from $1,548,277 in 2023. This reduction was largely due to decreased costs associated with outside consulting, legal, and accounting services. However, share-based compensation saw a substantial increase of 357%, rising to $5,285,690 from $1,155,480, primarily due to the issuance of common stock for note conversions and preferred stock granted to the CEO. The company reported a net loss of $6,643,709 for the year, with a working capital deficit of $6,685,767.
In terms of operational metrics, The Crypto Company maintained a small workforce, with only two full-time employees as of June 5, 2025. The company continues to focus on its consulting services and education related to blockchain technology, operating through its wholly-owned subsidiary, Technology Convergence Company. The company has expressed intentions to pursue strategic acquisitions to enhance its service offerings and market presence, although no specific acquisitions were reported during the fiscal year.
The company’s stock performance reflected the financial challenges, with share prices fluctuating significantly throughout 2024. The stock traded as high as $0.0037 and as low as $0.0008 in the first quarter, compared to a high of $0.286 and a low of $0.180 in the first quarter of 2023. The company has not paid dividends since its incorporation, and any future dividend payments will depend on its financial condition and other relevant factors.
Looking ahead, The Crypto Company acknowledges the uncertainties in the blockchain technology market and the potential impact of evolving regulations. The company plans to continue funding its operations through debt instruments and equity issuances, although it faces challenges in securing favorable financing. Management has indicated that the future success of the company will depend on its ability to attract qualified personnel and effectively execute its business strategy amidst a competitive landscape.
About Crypto Co
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