$PMNT
Perfect Moment Ltd.
CIK:0001849221|SEC Filings
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands |
3 Months Ended | |
|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
|
| Operating activities: | ||
| Net loss | $ (3,533) | $ (3,819) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 64 | 131 |
| Bad debt expense | 175 | 78 |
| Inventory reserve | 65 | (48) |
| Stock based compensation | 67 | 134 |
| Amortization of stock-based marketing services shares issued for services | 25 | 199 |
| Amortization of debt finance costs | 59 | 755 |
| Effect of changes in assets and liabilities: | ||
| Accounts receivable, net | 860 | 265 |
| Inventories, net | 141 | 228 |
| Prepaid and other current assets | 98 | (260) |
| Operating lease right-of-use assets | 47 | 19 |
| Other non-current assets | 74 | (1) |
| Operating lease obligations | 21 | (19) |
| Trade payables | (1,168) | (272) |
| Accrued expenses | (619) | (1,824) |
| Deferred revenue | 378 | 542 |
| Net cash used in operating activities | (3,246) | (3,892) |
| Investing activities: | ||
| Purchases of property and equipment | (66) | |
| Net cash used in investing activities | (66) | |
| Financing activities: | ||
| Proceeds from issuance of common stock and warrants | 2,000 | 2,538 |
| Proceeds from line of credit – related party | 860 | |
| Repayment of trade finance facilities | (2,495) | |
| Proceeds from short-term borrowings, net | 1,330 | |
| Repayment of short-term borrowings | (2,241) | |
| Proceeds from note payable – related party | 500 | |
| Payment of dividend on Series AA Convertible Preferred Stock | (98) | |
| Net cash provided by (used in) financing activities | 2,860 | (466) |
| Effect of exchange rate changes on cash | 8 | (165) |
| Net change in cash | (444) | (4,523) |
| Cash and cash equivalents – beginning of the period | 1,151 | 7,509 |
| Cash and cash equivalents – end of the period | 707 | 2,986 |
| Supplemental disclosures of cash flow information: | ||
| Interest paid on borrowings | 588 | |
| Supplemental disclosure of non-cash investing and financing activities: | ||
| Fair value of warrants issued to lender and recorded as debt finance costs on line of credit from related parties | 266 | |
| Recognition of offering costs included in trade payables | 87 | |
| Recognition of debt discount on short-term borrowings | 658 | |
| Fair value of shares issued in exchange for services to be received | 62 | |
| Fair value of shares issued to extinguish Related Party Note | 508 | |
| Recognition of operating lease right of use assets and lease obligations | $ 18 | |
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands |
Jun. 30, 2026 |
Mar. 31, 2026 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 707 | $ 1,151 |
| Accounts receivable, net | 1,114 | 2,146 |
| Inventories, net | 3,669 | 3,897 |
| Prepaid and other current assets | 2,809 | 2,950 |
| Total current assets | 8,299 | 10,144 |
| Long term assets: | ||
| Operating lease right-of-use assets | 962 | 1,003 |
| Property and equipment, net | 505 | 499 |
| Other non-current assets, net | 469 | 582 |
| Total assets | 10,235 | 12,228 |
| Current liabilities: | ||
| Trade payables | 2,524 | 3,601 |
| Accrued expenses | 2,244 | 2,859 |
| Operating lease liabilities, current | 107 | 37 |
| Deferred revenue | 613 | 245 |
| Total current liabilities | 5,488 | 6,742 |
| Long term liabilities: | ||
| Operating lease obligations, long-term portion | 987 | 1,032 |
| Total liabilities | 12,229 | 12,914 |
| Commitments and contingencies (see Note 10) | ||
| Stockholders’ deficit: | ||
| Common stock; $0.0001 par value; 100,000,000 shares authorized; 53,202,530 and 47,048,174 shares issued and outstanding as of June 30, 2026 and March 31, 2026, respectively | 5 | 4 |
| Additional paid-in capital | 73,909 | 71,663 |
| Accumulated other comprehensive loss | (328) | (306) |
| Accumulated deficit | (75,580) | (72,047) |
| Total stockholders’ deficit | (1,994) | (686) |
| Total liabilities and stockholders’ deficit | 10,235 | 12,228 |
| Related Party [Member] | ||
| Long term liabilities: | ||
| Line of credit from related parties, net | $ 5,754 | $ 5,140 |