CIRCLE8 GROUP INC
For the period ended Mar 31, 2025. Filed May 14, 2025.
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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.
Mar 31, 2025 · Filed May 14, 2025
CIRC$0.18-13.2%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Net loss | $(10,744,185) | $(4,866,844) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Amortization, deferred financing cost | 48,913 | 305,250 |
| Interest paid in kind | — | 616,163 |
| Deferred income taxes | — | (1,308,089) |
| Shares issued for services | 326,400 | — |
| Depreciation and amortization expense | 1,236,389 | 1,259,553 |
| Right-of-use asset amortization | 453,530 | 392,019 |
| Share based compensation | 6,039,973 | — |
| Expenses paid by IDC | — | 2,550,970 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 17,967,783 | 13,352,938 |
| Unbilled accounts receivable | (407,456) | (2,302,753) |
| Prepaid expenses and other current assets | (1,434,026) | (255,627) |
| Due from related parties | — | (375,000) |
| Other assets | 22,435 | (120,020) |
| Accounts payable | (130,588) | (212,985) |
| Due to related parties | (711,825) | (36,848) |
| Income taxes payable | — | 6,957 |
| Accrued expenses and other current liabilities | 2,354,130 | 2,626,366 |
| Operating lease liability | (452,783) | (397,276) |
| Net cash provided by operating activities | 14,568,690 | 11,234,774 |
| Cash flows from investing activities | ||
| Purchase of property and equipment | (12,079) | (14,623) |
| Net cash (used in) investing activities | (12,079) | (14,623) |
| Cash flows from financing activities | ||
| Borrowings on revolving line of credit | 107,630,000 | 102,704,746 |
| Payments on revolving line of credit | (121,399,275) | (114,284,438) |
| Debt issuance costs payment | — | (19,500) |
| Net cash (used in) financing activities | (13,769,275) | (11,599,192) |
| Net increase/(decrease) in cash and cash equivalents | 787,336 | (379,041) |
| Cash and Cash Equivalents – Beginning of period | 678,676 | 1,352,927 |
| Cash and Cash Equivalents – End of period | $1,466,012 | $973,886 |
| Supplemental Disclosures of Cash Flow Information | ||
| Cash paid during the period for: | ||
| Interest | $1,458,889 | $2,306,490 |
| Federal Income Taxes, net of refunds received | $(558,566) | $— |
| State Income Taxes, net of refunds received | $3,573 | $16,775 |
| Non-cash investing and financing activities: | ||
| Settlement shares issued to legacy stockholders | $2,359,271 | $— |
| Accretion of redeemable units to redemption value | $— | $133,162 |
| Unpaid debt issuance costs added to Term Note | $— | $600,000 |
| Notes payable issued for amounts due under contingent consideration arrangements | $— | $6,941,521 |
| Deemed capital contribution | $— | $2,684,018 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.