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MARK - Remark Holdings Inc
$1.20
0.10(9.09%)8:00:00 PM 5/26/2023
Paul "Triple H" Levesque World Wrestling Entertainment, Inc., d/b/a WWE, is an American integrated media and entertainment company that is primarily known for professional wrestling. WWE has also branched out into other fields, including movies, football, and various other business ventures.

Financials

Quarterly financials
(USD)Mar 2023Q/Q
Revenue826K-49%
Gross Profit371K-
Cost Of Revenue455K-83%
Operating Income-3MM-53%
Operating Expenses3.4MM-
Net Income-8.2MM-5%
R&D169K-85%
G&A2.8MM-25%
Marketing366K+0%
Amortization46K+2%

Revenue Breakdowns

The revenue breakdowns above are extracted from this specific SEC Edgar 10-Q filling, with report date as 2022-09-30 and filed on 2022-11-14. The process is fully automated and without human validation. Although we make every effort getting the relevant information, please be advised that We make no representation or warranties of any kind about completeness, accuracy, reliability, suitability or availability of the information exacted from Edgar 10-K/10-Q filings.

Highlights of Management Discussion and Risk Factors in 10-K/10-Q filling

Positive
1.
We repurposed and improved our existing urban life cycle solution that we were selling to make schools in China “smart” schools to build a product line of high-quality, highly-effective thermal imaging solutions that leverage our innovative software.
2.
Table of Contents31Financial Statement IndexOverall Business Outlook The innovative AI and data analytics solutions we already sell will continue to serve as the backbone of our efforts to expand our business not only in the Asia-Pacific region, where we believe there still are fast-growth AI market opportunities for our solutions, but also in the United States and Europe, where we see a tremendous number of requests for AI products and solutions in the workplace and public safety markets.
3.
We also have continued developing a metaverse that we believe can lead to opportunities in other verticals to which we can apply our AI expertise and develop new revenue streams for our investors.
4.
We continue to market Remark AI’s innovative AI-based solutions to customers in the retail, urban life cycle and workplace and food safety markets.
5.
Our urban life cycle solutions include our AI community system which assists in building “smart” communities by enhancing community security and safety.
6.
In addition to the other work that we have ramped up, we continue partnering with top universities on research projects targeting algorithm, artificial neural network and computing architectures which we believe keeps us among the leaders in technology development.
7.
The monitoring and detection capabilities of our solutions ensure that workers are practicing established food safety protocols, wearing the proper personal protective equipment, and complying with local health codes.
8.
In the near future, we expect to add more safety features to Smart Sentry, such as the ability to detect worn or otherwise damaged track and the ability to identify stationary obstacles like fallen rocks or trees.
9.
AI BusinessThrough the proprietary data and AI software platform we developed, our Remark AI business in the U.S. and the KanKan AI business in the Asia-Pacific region generate revenue by delivering AI-based computer vision products, computing devices and software-as-a-service solutions for businesses in many industries.
10.
Remark AI’s retail solutions allow retailers and store managers to make better data-driven decisions regarding store layout, item placement, and pricing strategy, all while anonymizing customers’ identities to protect their privacy.
Negative
1.
While we were able to complete several larger projects during the first half of 2022, primarily during the first quarter, including construction projects obtained through our China Business Partner and projects related to school campuses, ongoing lockdowns throughout the second and third quarters prevented us from being able to complete as many projects as we otherwise had planned to complete this year.
2.
Table of Contents36Our history of recurring operating losses, working capital deficiencies and negative cash flows from operating activities give rise to substantial doubt regarding our ability to continue as a going concern.
3.
Decreases in U.S. revenue during the nine months ended September 30, 2022 of approximately $2.8 million from AI data intelligence services and advertising related to a daily fantasy sports project that was not repeated in the current year and $0.4 million from our biosafety business due to a decline in demand, partially offset the increased revenue from China.
4.
During 2022The COVID-19 pandemic caused renewed lockdowns in China, which made it difficult for us to interact with our clients and vendors.
5.
The COVID-19 pandemic caused a broad shift towards remote working arrangements for many businesses worldwide and injected uncertainty and delay into decision-making processes for such businesses.
6.
The response to the COVID-19 pandemic will likely continue to adversely affect our business and financial results, as could economic and geopolitical conditions in some international regions, and we do not yet know what will be the ultimate effects on our business.
7.
The delisting and the cessation of trading of our common stock, or the threat of our common stock being delisted and prohibited from being traded, may materially and adversely affect the value of your investment.
8.
In particular, the preventative measures in China as a result of the Chinese government’s “Zero-COVID” policy have significantly limited the operational capabilities of our China-based subsidiaries.
9.
As our business begins to expand in the U.S. based initially on our SSP software, we could be subjected to the risk of supply chain disruptions with regard to high-technology products such as servers and related equipment that we use to train our AI software algorithms and which we plan to sell to customers to support operation of the SSP.Business Developments
10.
In addition, any actions by the Chinese government to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers could significantly limit or completely hinder our ability to offer or continue to offer our securities to investors and cause the value of such securities to Table of Contents28Financial Statement Indexsignificantly decline or become worthless.
The management discussion contents above are extracted from this specific SEC Edgar 10-Q filling, with report date as 2022-09-30 and filed on 2022-11-14. The process is fully automated and without human validation. Although we make every effort getting the relevant information, please be advised that We make no representation or warranties of any kind about completeness, accuracy, reliability, suitability or availability of the information exacted from Edgar 10-K/10-Q filings.
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