Cheetah Net Supply Chain Service (CTNT) - 2025 Q1 - Quarterly Results

Revenue and Profitability - For Q1 2025, Cheetah reported revenue of $479,799 from logistics and warehousing services, with TWEW contributing $417,284 (87.0%) and Edward contributing $62,515 (13.0%) [3] - Revenue from Edward decreased by 18.6% due to reduced international trade flow resulting from U.S.-China trade tensions [3] - The company reported a gross profit of $56,256 for Q1 2025, with a cost of revenue of $423,543 [4] - Cheetah experienced a net loss of $753,909 in Q1 2025, compared to a net loss of $608,930 in the same period of 2024 [9] - For the three months ended March 31, 2025, Cheetah Net Supply Chain Service Inc. reported a net loss of $753,909, compared to a net loss of $608,930 for the same period in 2024, indicating an increase in losses of approximately 23.8% [30] - Cheetah Net Supply Chain Service Inc. reported a loss from continuing operations of $753,909 for the three months ended March 31, 2025, compared to a loss of $466,348 for the same period in 2024, reflecting an increase of about 61.5% [30] Expenses and Financial Position - General and administrative expenses increased by $0.2 million, or 30.3%, to $1.0 million compared to Q1 2024, primarily due to increased personnel-related expenses and new office space [5] - Interest income surged to $208,090 in Q1 2025, up 619.3% from $28,930 in Q1 2024, driven by interest on short-term loans and certificates of deposit [8] - The company incurred share-based compensation expenses of $16,185 for the three months ended March 31, 2025, while there were no such expenses reported for the same period in 2024 [30] - The company reported depreciation expenses of $9,882 for the three months ended March 31, 2025, compared to $2,171 for the same period in 2024, showing a significant increase of approximately 354.5% [30] Assets and Liabilities - As of March 31, 2025, total current assets were $10.2 million, with cash and cash equivalents at $0.3 million and loan receivables at $9.1 million [13] - The company had total stockholders' equity of $11.9 million as of March 31, 2025, down from $12.6 million at the end of 2024 [16] - Cheetah's current liabilities totaled approximately $0.9 million, primarily related to operating lease liabilities and other payables [13] - The balance of stockholders' equity as of March 31, 2025, was $11,879,948, a decrease from $12,617,672 as of December 31, 2024, indicating a decline of approximately 5.9% [27] - Cheetah Net Supply Chain Service Inc. had a total accumulated deficit of $(5,434,520) as of March 31, 2025, compared to $(4,680,611) as of December 31, 2024, reflecting an increase in the deficit of approximately 16.1% [27] Cash Flow and Investment Activities - The cash provided by operating activities for discontinued operations was $2,540,500 for the three months ended March 31, 2025, compared to $3,166,058 in the same period of 2024, reflecting a decrease of about 19.7% [30] - The total cash used in investing activities for the three months ended March 31, 2025, was $3,026,400, significantly higher than $47,617 used in the same period of 2024 [30] - Cheetah Net Supply Chain Service Inc. reported cash and cash equivalents of $324,142 at the end of March 31, 2025, down from $903,204 at the end of March 31, 2024, representing a decrease of approximately 64.1% [30] Future Outlook - The company plans to seek new business opportunities and improve operational efficiencies to position itself for future growth despite current challenges [2] - The fair value of common stock issued for acquisition was reported as $1,700,000 in the previous year, indicating ongoing investment activities [30]