Scores holding co reported total revenue of $74,000 in Q3 2024 and $221,000 year‑to‑date through nine months, with net income of $29,000 for the quarter and $83,000 for the nine‑month period, translating to basic net income per share of $0.000 for Q3 and $0.001 for 9M 2024 based on 165,186,144 weighted average shares. The company said revenue declined year‑over‑year mainly due to prior‑period recognition of deferred ASC 606 income, while operating results improved as a result of lower general and administrative costs and elimination of insurance and certain fees. Management indicated selective acquisitions, investments and potential financing to support future licensing expansion.
Financial Highlights
- Total Revenue: $0.074 million (Q3 2024); $0.221 million (9M 2024) — decreased versus prior year due to prior deferred revenue recognition under ASC 606.
- Operating Income: $0.029 million (Q3 2024); $0.083 million (9M 2024) — improvement driven by lower G&A expenses.
- Net Income: $0.029 million (Q3 2024); $0.083 million (9M 2024) — increase attributed to elimination of insurance and reduced accounting/SEC fees.
- Net Income Per Share: $0.000 (Q3 2024); $0.001 (9M 2024) — based on 165,186,144 weighted average shares.
Business Highlights
- Revenue Trend: Year‑to‑date revenues declined to $220,500 from $276,500, driven by prior‑year recognition of deferred ASC 606 income.
- Channel Structure: Business remains licensing‑focused, earning royalties or flat monthly fees from six operating Scores clubs nationwide.
- Brand Footprint: Six licensed clubs operate under the Scores brand in key markets including Chicago, Las Vegas and Tampa, sustaining the company's market presence.
- Cost Management: General and administrative expenses were reduced substantially year‑over‑year through lower accounting and SEC fees and elimination of insurance, supporting improved operating income.
- Operational Outlook: Company plans selective acquisitions and investments and may seek financing to support growth and expansion of its licensing model.
Original SEC Filing:
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