Perfect Moment Ltd. (PMNT) Form 10-Q — Aug 14, 2026
Perfect Moment Ltd. filed its 10-Q for the quarter ended June 30, 2026, reporting revenue of $1.15 million, down 21.9% from $1.47 million a year earlier, with a net loss of $3.5 million and gross margin contracting from 60.3% to 54.5%. Management disclosed substantial doubt about the company's ability to continue as a going concern, citing only $707 thousand of cash against $3.2 million of quarterly operating cash burn, a $75.6 million accumulated deficit, and a $2.0 million stockholders' deficit. The company was delisted from NYSE American on June 12, 2026 and moved to the OTCQB Venture Market on June 18, 2026, a materially less liquid venue.
Key figures
- Revenue
- 1150000
- Total Debt
- 5754000
- Revenue Yoy
- -21.9% (from $1,472K in Q1 prior year)
- Total Assets
- 10235000
- Cash Position
- 707000
- Gross Proceeds
- 2000000
- Shares Outstanding
- 53202530
- Delisting
- NYSE American delisting June 12, 2026; OTCQB trading from June 18, 2026
- Spa Details
- May 2026 securities purchase agreement: 6,060,606 shares at $0.33 plus warrants for 8,276,944 shares at $0.40 for $2,000K gross proceeds
- Gross Margin
- 54.5% vs 60.3% prior year
- Revolver Drawn
- $6,000K as of June 30, 2026; additional $1,000K drawn July 2026
- Adjusted EBITDA
- -$3,140K vs -$2,576K prior year
- Revolver Capacity
- $10,000K related-party revolver maturing March 30, 2028
- Operating Cash Flow
- -$3,246K for the quarter
- Accumulated Deficit
- $75,580K
- Stockholders Deficit
- $1,994K
- Warrants Outstanding
- 16886250
- Revolver Interest Rate
- 12.0% per annum plus 1.5% unused fee, secured by first-priority lien on all assets
- Customer Concentration
- one customer ~29% of Q1 revenue and 31% of accounts receivable
- Supplier Concentration
- single manufacturer produced 100% of products during the quarter
- Warrants Subject To Price Reset
- 6105521
AI analysis
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