Scores Holding Co reported Q2 2024 revenue of $73,500 and year-to-date revenue of $147,000, reflecting reduced recognition of previously deferred income under ASC 606; basic and diluted net income per share were $0.00 for both the quarter and YTD. Operating income for Q2 was $22,894 and $54,769 year-to-date, with net income matching operating income in both periods. Management attributes improved operating results to materially lower general and administrative costs but notes ongoing litigation and working capital constraints.
Financial Highlights
- Total Revenue: $0.0735 million (Q2 2024); $0.1470 million (YTD 6/30/24)
- Operating Income: $0.022894 million (Q2 2024); $0.054769 million (YTD 6/30/24)
- Net Income: $0.022894 million (Q2 2024); $0.054769 million (YTD 6/30/24)
- Net Income Per Share: $0.00 basic and diluted (Q2 2024 and YTD 6/30/24)
Business Highlights
- Revenue Trend: Revenues declined year-over-year due to recognition of previously deferred license income under ASC 606.
- Business Model: Operates via trademark licensing to six third-party clubs, with royalties structured as a percentage of licensee revenue or flat fees.
- Brand Footprint: Six active Scores clubs in key markets including Chicago, Tampa, Mooresville, Palm Springs (FL), Las Vegas, and Huntsville.
- Cost Reduction: General and administrative expenses decreased materially versus prior year, driven by lower accounting and SEC filing fees and elimination of insurance costs.
- Operational Risk & Outlook: Management cites ongoing litigation and working capital constraints and indicates intent to pursue complementary acquisitions or financing to support operations.
Original SEC Filing:
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