Defense Technologies International Corp (DTII) reported a challenging QQ4 2024, characterized by negative earnings and a precarious liquidity position, with no disclosed revenue for the quarter. The reported quarterly P&L shows G&A and selling/SG&A expenses of 180,935 USD each, other expenses of 432,053 USD, interest of 10,453 USD, and depreciation of 2,169 USD, culminating in an operating loss of 181,000 USD and a net loss of 131,000 USD (EPS -0.0135). Cash flow from operations was negative (-11,165 USD) and free cash flow matched this cash burn (-11,165 USD), while the company ended the period with only 171 USD in cash. The balance sheet reveals highly leveraged and illiquid conditions: total liabilities of 2.37 million USD against total assets of 7,770 USD, and negative stockholders’ equity of -2.05 million USD, with retained earnings deeply negative at -17.12 million USD. The liquidity metrics are extreme, with a current ratio of 0.0033 and a cash ratio near zero, signaling a fragile near-term liquidity runway absent external financing.
Key year-over-year (YoY) and quarterly (QoQ) deltas provided in the dataset show some deterioration in cash flow metrics versus the prior quarter, but a nuanced picture on profitability: operating income improved on a YoY basis by 27.31% yet remained negative, while net income improved by 64.69% YoY but still registered a loss. EPS rose YoY by 96.45% but declined QoQ by 35.00%. Taken together, the QQ4 2024 print suggests a business in transition with no revenue visibility disclosed for the quarter and a substantial burn that requires either a material revenue inflection or meaningful balance-sheet remediation to restore investor confidence.