Spirits Time International, Inc. reported a challenging financial performance for the fiscal year ending December 31, 2024, with no revenue generated and a net loss of $451,328. This represents a slight improvement compared to the previous year's loss of $472,518. The company continues to face significant financial difficulties, as evidenced by a working capital deficit of $1,351,289 and a stockholders' deficit of the same amount. The company has not engaged in any revenue-generating activities and has accumulated a total deficit of $2,880,196 since its inception.
In terms of operational changes, Spirits Time has not made significant strides in its business strategy. The company previously attempted to acquire BioSculpture Technology, Inc. through a merger agreement in April 2023, but this agreement has since expired. The company is now actively seeking new business opportunities for potential mergers or acquisitions, although it has not established specific criteria for the types of businesses it may pursue. The management retains broad discretion in selecting potential business ventures, which may involve significant risks and could dilute existing shareholders' equity.
The company’s financial activities indicate a reliance on external financing, with net cash provided by financing activities totaling $67,555 for the year ended December 31, 2024, compared to $46,300 in the previous year. This financing primarily came from loans payable to related parties. However, the company has not entered into any agreements for additional debt or equity financing, raising concerns about its ability to sustain operations without securing further funding. As of the end of 2024, the company had only $2,377 in cash, highlighting its precarious financial position.
Spirits Time's stock is traded on the OTC Pink Marketplace under the symbol "SRSG," with a closing price of $0.0002 as of February 5, 2026. The company has not paid any dividends and has no current plans to do so. The trading range for the stock has fluctuated significantly over the past year, with highs and lows varying across quarters. The company has 41 holders of record for its common stock, indicating a limited shareholder base.
Looking ahead, Spirits Time International, Inc. acknowledges the uncertainty surrounding its future operations and financial viability. The management has expressed the need to secure additional funds to continue its business activities, but there is no assurance that such financing will be available on acceptable terms. The company’s ability to identify and successfully acquire a suitable business opportunity remains uncertain, and the risks associated with potential acquisitions could adversely affect existing shareholders.
About SPIRITS TIME INTERNATIONAL, INC.
Spirits Time International, Inc. is a Nevada-based company focused on acquiring and marketing beverage brands, primarily in the spirits industry. Its core activities include licensing, distributing, and building a portfolio of alcoholic and non-alcoholic beverage brands, starting with tequila. The company relies on third-party brand managers and distributors, emphasizing brand rights, marketing, and distribution channels in global markets.
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