Reliant Holdings Inc
For the period ended Sep 30, 2024. Filed Dec 20, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Dec 20, 2024
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Unaudited Consolidated Balance Sheets
| RELIANT HOLDINGS, INC. AND SUBSIDIARIES | ||
|---|---|---|
| CONSOLIDATED BALANCE SHEETS | ||
| (UNAUDITED) | ||
| September 30, | December 31, | |
| 2024 | 2023 | |
| ASSETS | ||
| Current assets: | ||
| Cash | $463,424 | $1,015 |
| Accounts receivable | 131,903 | 94,597 |
| Prepaid expenses and other current assets | 106,433 | 42,217 |
| Total current assets | 701,760 | 137,829 |
| Other assets: | ||
| Property and equipment | 112,702 | 4,575 |
| Intangible Assets - Customer Relationships, net | 1,079,163 | 1,410,600 |
| Goodwill | 490,268 | - |
| Software costs | 4,317 | - |
| Note receivable, $400,700 and $-0-, due from related party, respectively | 530,700 | 130,000 |
| Right of use asset | 38,109 | 94,697 |
| Due from executive | 125,903 | - |
| Total other assets | 2,381,162 | 1,639,872 |
| Total assets | $3,082,922 | $1,777,701 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $159,233 | $178,257 |
| Accrued expenses | 998,232 | 571,686 |
| Line of credit | 223,523 | 224,954 |
| Deferred revenue | 3,000 | 45,504 |
| Contract liabilities | 80,229 | - |
| Lease liability right of use | 38,205 | 94,697 |
| Notes payable | 2,166,390 | - |
| Notes payable, related party | 540,450 | 547,000 |
| Accrued expenses, related parties | - | 98,372 |
| Due to executive | - | 79,368 |
| Total current liabilities | 4,209,262 | 1,839,838 |
| Commitments and contingencies (Note 7) | ||
| Stockholders’ Equity*: | ||
| Preferred stock, 5,000,000 shares authorized, $0.001 par value, 0 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | - | - |
| Preferred stock Series A, 1,000 shares authorized, $0.001 par value, 1,000 and 0 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 1 | 1 |
| Preferred stock Series B, 10,000 shares authorized, $0.001 par value, 3,545 and 3,545 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 4 | 4 |
| Preferred stock Series C, 6,570 shares authorized, $0.001 par value, 6,570 and 6,570 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | 7 | 7 |
| Preferred stock Series D, 100 shares authorized, $0.001 par value, 100 and 100 issued and outstanding as of September 30, 2024 and December 31, 2023, respectively | - | - |
| Common stock 70,000,000 shares authorized, $0.001 par value., 16,785,000 and 16,385,000 issued and outstanding as of September 30, 2024 and December 31,2023, respectively | 16,785 | 16,785 |
| Additional paid-in capital | 725,397 | - |
| Retained earnings (accumulated deficit) | (1,868,534) | (78,934) |
| Total stockholders’ equity | (1,126,340) | (62,137) |
| Total liabilities and stockholders’ equity | $3,082,922 | $1,777,701 |
| *Preferred stock, Common stock, additional paid-in capital data have been retroactively restated to give effect to the reverse merger completed on July 25, 2024 (Note 2) | ||
| The accompanying notes are an integral part of these unaudited consolidated financial statements. | ||
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