Gold Rock Holdings Reports $67,500 Revenue in Q1 2025, Net Loss Reduced

Gold Rock Holdings, Inc. reported its financial results for the first quarter of 2025, revealing a revenue of $67,500, a significant increase from zero revenue in the same period of 2024. The company attributed this revenue to its K-Project AI division and its wholly-owned subsidiary, LOOT8, Inc., which focuses on Web3 content management systems. The gross profit for the quarter was $67,500, resulting in a gross margin of 100%. However, the company incurred a net loss of $79,155, a reduction from the net loss of $165,596 reported in the first quarter of 2024.

Total assets as of March 31, 2025, were $249,309, a decrease from $253,614 at the end of 2024. The company's current liabilities increased significantly to $153,250, primarily due to a rise in accounts payable and accrued expenses, as well as accrued compensation for board members and officers. Stockholders' equity also declined to $96,059 from $175,214 at the end of the previous fiscal year, reflecting the ongoing net losses and accumulated deficit, which now stands at $1,185,886.

Strategically, Gold Rock Holdings has shifted its business model from engineering and construction management services to focus on acquiring technological assets. This transition was formalized with the establishment of LOOT8, Inc. in December 2023, which is currently in the beta testing phase and aims to pioneer a new monetization model through its Web3 platform. The company is exploring multiple revenue streams, including direct-to-consumer sales and enterprise solutions, leveraging its technology to enhance customer engagement and operational efficiency.

Operationally, the company has made notable changes, including the appointment of Anthony Denkinger as Chief Operations Officer in February 2025. The company is also actively working on its K-Project division, which focuses on AI development for various industries. Despite these advancements, Gold Rock Holdings faces challenges, including a substantial accumulated deficit and the need for additional capital to sustain operations. Management has indicated that the company's ability to continue as a going concern is contingent upon generating profitable operations and securing necessary financing.

Looking ahead, Gold Rock Holdings is focused on implementing its business plan and expanding its market presence. The company is optimistic about its potential to generate revenue through its innovative technology offerings, although it acknowledges the risks associated with its current financial position. The management's commitment to advancing funds as needed reflects an effort to navigate the challenges ahead while pursuing growth opportunities in the evolving technological landscape.