RanMarine Technology B.V.

CIK:0001955514|SEC Filings

Consolidated Statements of Operations - EUR (€)	12 Months Ended
Consolidated Statements of Operations - EUR (€)	Dec. 31, 2023	Dec. 31, 2022
Profit or loss [abstract]
Sales (Note 19)	€ 649,880	€ 432,427
Cost of sales	364,820	236,531
Gross profit	285,060	195,896
Operating expenses (Note 20)
Research and development (Note 20.1)	141,804	143,806
Sales and marketing (Note 20.2)	605,120	203,277
General and administrative (Note 20.3)	2,654,723	1,067,986
Total operating expenses	3,401,647	1,415,069
Operating loss	(3,116,587)	(1,219,173)
Other expenses, net (Notes 21 and 22)	(2,210,921)	(1,902,870)
Net loss before taxes	(5,327,508)	(3,122,043)
Provision (benefit) for income taxes (Note 11)		125,523
Net loss and comprehensive loss	€ (5,327,508)	€ (3,247,566)
Basic loss per ordinary share:	€ (0.81)	€ (0.50)
Weighted average ordinary shares outstanding:	6,552,558	6,552,558

Consolidated Statements of Cash Flows - EUR (€)	12 Months Ended
Consolidated Statements of Cash Flows - EUR (€)	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	€ (5,327,508)	€ (3,247,566)
Change in fair value of derivatives liabilities	2,341,845	2,816,150
Depreciation and amortization	261,679	66,513
Accrued advisory services performed by related parties	633,753	68,500
Inventory	(65,790)	(31,845)
Accounts receivable and other receivables	272,127	(359,611)
Deferred IPO costs	(1,098,273)
Accrued liabilities	735,649	(372,896)
Trade payables	528,559	419,784
Deferred tax asset		125,523
Net cash flow used in operating activities	(1,717,959)	(515,448)
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures for property, plant and equipment	(36,000)	(6,176)
Intangible assets	(590,993)	(464,670)
Net cash flow used in investing activities	(626,993)	(470,846)
CASH FLOWS FROM FINANCING ACTIVITIES
Bank overdraft	(108,299)	108,299
Payments made on lease liability	(89,163)	(60,603)
Advances from derivative liabilities	2,588,369	859,638
Payments made on loans to related parties	(9,800)	(13,400)
Net cash flow provided by financing activities	2,381,107	893,934
Net Cash Flow	36,155	(92,360)
Cash and cash equivalents at beginning of year	448	92,808
Cash and cash equivalents at end of year	36,603	448
SUPPLEMENTAL DISCLOSURE OF NON-CASH INFORMATION
Increase in right-of-use assets via additional capital lease obligations	€ 697,588

Consolidated Balance Sheets - EUR (€)	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents (Note 4)	€ 36,603	€ 448
Accounts receivable (Note 5)	95,200	124,814
Other receivables (Note 6)	49,860	292,373
Inventory (Note 7)	112,575	46,785
Deferred IPO costs (Note 8)	1,098,273
Current assets	1,392,511	464,420
Non-current assets
Property, plant and equipment net (Note 9)	39,080	10,922
Right of use asset (Note 10)	787,268	191,966
Intangible assets (Note 12)	1,403,552	964,109
Non-current assets	2,229,900	1,166,997
Total assets	3,622,411	1,631,417
Current liabilities
Bank overdraft		108,299
Trade payables (Note 13)	1,001,588	473,028
Derivative liabilities (Note 14)	8,606,000	3,675,787
Loans and liabilities to related parties (Note 15)	769,052	145,100
Taxes and social securities payable (Note 16)	144,569	175,308
Current portion of lease liability (Note 10)	159,184	63,027
Accrued liabilities (Note 17)	954,125	182,207
Current liabilities	11,634,518	4,822,756
Non-current liabilities
Lease liability, net of current portion (Note 10)	640,445	133,705
Non-current liabilities	640,445	133,705
Total liabilities	12,274,963	4,956,461
Shareholders’ deficit
Common stock; €0.01 par value per share; 100,000,000 shares authorized; 6,552,558 shares issued and outstanding (Note 18)	65,526	65,526
Additional paid in capital	626,894	626,894
Legal reserves (Note 18)	1,374,930	935,487
Accumulated deficit	(10,719,902)	(4,952,951)
Total shareholders’ deficit	(8,652,552)	(3,325,044)
Total liabilities and shareholders’ deficit	€ 3,622,411	€ 1,631,417