AMZEHIGH SIGNALFINANCIAL10-K

AMZE experienced dramatic financial deterioration with net losses expanding from -$2.5M to -$55.2M while simultaneously growing revenue 558% and adding substantial debt.

The company appears to have undergone significant expansion or acquisition activity that drove revenue growth but at an unsustainable cost structure, resulting in massive operating losses and a 1,000%+ increase in interest expense. The addition of going concern language and warnings about inability to obtain financing on acceptable terms signals serious liquidity risks despite the increased stockholder equity.

Comparing 2026-04-01 vs 2025-03-31View on EDGAR →
FINANCIAL ANALYSIS

While AMZE achieved impressive revenue growth from $299K to $2.0M and turned gross profit positive to $1.6M, the company's cost structure exploded, driving net losses from -$2.5M to -$55.2M and operating cash flow deterioration to -$17.5M. Total assets grew to $34.2M but were accompanied by a 733% increase in liabilities to $24.4M and interest expenses that surged over 1,000% to $1.7M, indicating substantial new debt financing. The overall picture suggests aggressive expansion funded by debt that has created severe profitability and cash flow challenges, raising questions about the sustainability of the business model and ability to service the increased debt load.

FINANCIAL STATEMENT CHANGES
Gross Profit
P&L
+27089.4%
-$6K$1.6M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Net Income
P&L
-2090%
-$2.5M-$55.2M

Net income declined 2090% — review whether driven by operations, interest costs, or non-recurring items.

Operating Income
P&L
-1640.6%
-$3.1M-$54.4M

Operating income deteriorated sharply — investigate whether driven by one-time charges or structural cost issues.

Interest Expense
P&L
+1018.5%
$155K$1.7M

Interest expense surged 1018.5% — significant debt increase or rising rates materially impacting earnings.

Operating Cash Flow
Cash Flow
-807%
-$1.9M-$17.5M

Operating cash flow fell 807% — earnings quality concerns; investigate working capital changes and non-cash items.

Total Liabilities
Balance Sheet
+733.3%
$2.9M$24.4M

Liabilities grew 733.3% — significant increase in debt or obligations, assess impact on financial flexibility.

Current Liabilities
Balance Sheet
+733.3%
$2.9M$24.4M

Current liabilities surged 733.3% — significant near-term obligations; verify ability to meet short-term debt.

Total Assets
Balance Sheet
+675.4%
$4.4M$34.2M

Asset base grew 675.4% — expansion through organic growth, acquisitions, or capital deployment.

Stockholders Equity
Balance Sheet
+560.6%
$1.5M$9.8M

Equity base grew 560.6% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Revenue
P&L
+557.8%
$299K$2.0M

Strong top-line growth of 557.8% — accelerating demand or successful expansion into new markets.

LANGUAGE CHANGES
NEW — 2026-04-01
PRIOR — 2025-03-31
ADDED
The aggregate market value of the registrant s common stock held by non-affiliates was $ 36,418,967 as of June 30, 2025 (the last business day of the registrant s most recently completed second fiscal quarter), based on a total of 4,325,293 shares of common stock held by non-affiliates and a closing price of $8.42 as reported on the NYSE American on June 30, 2025.
Form 10-K Summary 43 SIGNATURES 44 i EXPLANATORY NOTE On March 7, 2025, Fresh Vine Wine, Inc.
We have a history of losses from operations and there are no assurances we will report profitable operations in future periods or continue as a going concern.
We will require additional capital to fund our operations and growth, and we may be unable to obtain financing on acceptable terms or at all.
Substantial indebtedness could adversely affect our financial condition, limit our ability to raise additional capital to fund our operations and prevent us from fulfilling our obligations under our indebtedness.
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REMOVED
(Exact name of registrant as specified in its charter) Nevada 87-3905007 (State or other jurisdiction of (IRS Employer incorporation or organization) Identification No.) P.O.
The aggregate market value of the registrant s common stock held by non-affiliates was $ 5,610,312 as of June 30, 2024 (the last business day of the registrant s most recently completed second fiscal quarter), based on a total of 9,182,180 shares of common stock held by non-affiliates and a closing price of $0.611 as reported on the NYSE American on June 30, 2024.
Form 10-K Summary 40 SIGNATURES 41 i EXPLANATORY NOTE On March 7, 2025, Fresh Vine Wine, Inc.
Our marketing strategy involves continued expansion into the direct-to-consumer channel, which may present risks and challenges for which we are not adequately prepared.
Inclement weather, drought, pests, plant diseases and other factors could reduce the amount or quality of the grapes available to produce our wines.
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