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BTLN
Brightline Interactive, Inc./NV
3.05
−0.10 −3.17%
USD · close Oct 23
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Work order
26
FLAG · shorts 26
Insiders, 90 days
0
no open-market filings in 90 days
Congress, 90 days
0 / 0
no disclosures naming it
Big money
0 / 15
none of the tracked funds disclose it
Calls on record
0
nobody we score has called it yet
MKT CAP $64.3MP/E —DIV YIELD —FCF YIELD -5.68%REV TTM $4M +18.8%NET INCOME −$15MNET CASH —52W 0.49 – 7.68SEC XBRL · TTM TO Invalid Date
How BTLN rewrote its risk factors
Text kept
90%
of sentences unchanged
Added
12
new sentences
Dropped
21
sentences removed
Length
−288
words, now 9,620
New in FY2025
- We have incurred significant net losses since inception and may continue to incur net losses for the foreseeable future and may never maintain profitability.
- For the fiscal years ended June 30, 2025 and 2024, we incurred a net loss of approximately $2.6 million and approximately $6.4 million, respectively.
- As of June 30, 2025, we had an accumulated deficit of approximately $65.6 million.
- We continue to devote efforts towards building and evolving our technology platform and perusing growth opportunities.
- Our cash flow has significantly improved in recent quarters and we expect our current cash balance to be sufficient in funding operations for at least the next 12 months from the date of issuance of these consolidated financial statements.
- However, we may continue to generate negative cash flow in future periods which may eventually require us to raise capital in order to maintain our operations.
- For the fiscal years ended June 30, 2025 and 2024, our five largest customers accounted for approximately 76% and 53% of our revenues, respectively.
- If potential acquisition targets are unwilling to accept our equity as the consideration for their businesses, then we may be required to seek additional financing through the issuance of debt securities or other arrangements to finance the acquisition transaction.
- In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), we had a period of 180 calendar days from September 3, 2024, or until March 3, 2025, to regain compliance with the Minimum Bid Price Requirement.
- On December 24, 2025, we announced that we had received written from the Nasdaq informing the us that we had regained compliance with the Minimum Bid Price Requirement.
- Even though we regained compliance with the Minimum Bid Price Requirement, we cannot assure that we will not, in the future, fail to comply with Nasdaq’s requirements to maintain the listing of our common stock on Nasdaq, or that we will be able to regain compliance in the event of any such non-compliance.
- We may take advantage of certain of the scaled disclosures available to smaller reporting companies until the fiscal year following the determination that our voting and non-voting common stock held by non-affiliates is $250 million or more as measured on the last business day of our second fiscal quarter, or our annual revenues are less than $100 million during the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is $700 million or more measured on the last business day of our second fiscal quarter.
Gone since FY2024
- We have incurred significant net losses since inception and anticipate that we will continue to incur net losses for the foreseeable future and may never achieve or maintain profitability.
- There is also doubt about our ability to continue as a going concern.
- For the fiscal years ended June 30, 2024 and 2023, we incurred a net loss of $6.39 million and $28.6 million, respectively.
- As of June 30, 2024, we had an accumulated deficit of $63 million.
- To date, we have devoted our efforts towards securing financing, building and evolving our technology platform and creating an infrastructure that allows for the growth of such technology platform.
- While the Company’s cash flow has improved in recent months, we may continue to generate negative cash flow for the foreseeable future.
- While the Company intends to generate positive cash flow in the coming 12 months, its cash and cash equivalents as of June 30, 2024 may not be sufficient to fund operations for at least the next twelve months from the date of issuance of these consolidated financial statements.
- We will need to generate significant additional revenue to achieve and sustain profitability, and we cannot assure that we will be able to do so.
- The combination of operating losses, cash expected to be used to continue operating activities and uncertain conditions relating to additional capital raises and continued revenue growth creates an uncertainty about our ability to continue as a going concern.
- If we cannot continue as a going concern, our stockholders would likely lose most or all of their investment in us.
- For the fiscal years ended June 30, 2024 and 2023, our five largest customers accounted for approximately 53% and 59% of our revenues, respectively.
- If potential acquisition targets are unwilling to accept our equity as the consideration for their businesses, then we may be required to seek additional financing through the issuance of equity or debt securities or other arrangements to finance the acquisition transaction.
- In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), we have a period of 180 calendar days from September 3, 2024, or until March 3, 2025, to regain compliance with the Minimum Bid Price Requirement.
- If at any time before March 3, 2025, the bid price of our common stock closes at or above $1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that we have achieved compliance with the Minimum Bid Price Requirement.
- In the event we do not regain compliance with the Minimum Bid Price Requirement by March 3, 2025, we may be eligible for additional time.
- To qualify for additional time, we would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for the Nasdaq Capital Market, with the exception of the Minimum Bid Price Requirement, and would need to provide written notice of our intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary.
- If we meet these requirements, Nasdaq will inform us that we have been granted an additional 180 calendar days to regain compliance.
- However, if it appears to the staff of Nasdaq (the “Staff”) that we will not be able to cure the deficiency, or if we are otherwise not eligible, the Staff would notify us that our securities will be subject to delisting.
- In order to regain compliance with the Minimum Bid Price Requirements, we may consider various measures to resolve the deficiency.
- There can be no assurance that any such measures will be successful or that we will not fail to meet Nasdaq’s continued listing standards in the future.
- We may take advantage of certain of the scaled disclosures available to smaller reporting companies until the fiscal year following the determination that our voting and non-voting common stock held by non-affiliates is $250 million or more measured on the last business day of our second fiscal quarter, or our annual revenues are less than $100 million during the most recently completed fiscal year and our voting and non-voting common stock held by non-affiliates is $700 million or more measured on the last business day of our second fiscal quarter.
Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.