PMNTHIGH SIGNALFINANCIAL10-K

Perfect Moment shows severe financial deterioration with stockholders' equity collapsing 76% to just $1.9M while losses nearly doubled and current liabilities surged 139%.

The company appears to be in financial distress with a dangerously thin equity cushion of only $1.9M and rapidly deteriorating cash burn that more than doubled to -$9.9M. The dramatic increase in current liabilities combined with plummeting equity suggests potential liquidity concerns and possible covenant violations or financing pressures.

Comparing 2025-06-30 vs 2024-07-01View on EDGAR →
FINANCIAL ANALYSIS

Perfect Moment's financial position deteriorated dramatically across all key metrics, with net losses expanding 83% to -$15.9M while operating cash flow burn more than doubled to -$9.9M. The balance sheet shows critical stress with stockholders' equity collapsing 76% to a precarious $1.9M while current liabilities surged 139% to $11.5M, creating a severe working capital deficit. The 71% spike in SG&A expenses combined with declining inventory suggests the luxury skiwear company is struggling with cost control while facing demand challenges, creating a dangerous combination of accelerating losses and potential liquidity constraints.

FINANCIAL STATEMENT CHANGES
Current Liabilities
Balance Sheet
+139.1%
$4.8M→$11.5M

Current liabilities surged 139.1% — significant near-term obligations; verify ability to meet short-term debt.

Total Liabilities
Balance Sheet
+136.9%
$4.8M→$11.5M

Liabilities grew 136.9% — significant increase in debt or obligations, assess impact on financial flexibility.

Operating Cash Flow
Cash Flow
-121.4%
-$4.5M→-$9.9M

Operating cash flow fell 121.4% — earnings quality concerns; investigate working capital changes and non-cash items.

Net Income
P&L
-82.7%
-$8.7M→-$15.9M

Net income declined 82.7% — review whether driven by operations, interest costs, or non-recurring items.

Operating Income
P&L
-79.8%
-$7.7M→-$13.8M

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

Stockholders Equity
Balance Sheet
-76.1%
$7.8M→$1.9M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

SG&A Expense
P&L
+70.6%
$12.1M→$20.7M

SG&A up 70.6% — significant increase in sales or administrative costs, monitor impact on operating leverage.

Capital Expenditure
Cash Flow
+43.1%
$211K→$302K

Capital expenditure jumped 43.1% — major investment cycle underway; assess returns on deployment.

Inventory
Balance Sheet
-29.7%
$2.2M→$1.6M

Inventory reduced 29.7% — lean inventory management or demand outpacing supply.

Interest Expense
P&L
-28.7%
$1.8M→$1.3M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

LANGUAGE CHANGES
NEW — 2025-06-30
PRIOR — 2024-07-01
ADDED
Such market value was computed by reference to the closing price of the common stock as reported on the Nasdaq Global Select Market on April 28, 2025.
For purposes of determining this amount only, the registrant has defined affiliates as including the executive officers, directors and owners of 10% or more of the outstanding voting stock of the registrant on June 30, 2024.
As of June 30, 2025, there were 31,083,694 shares of common stock, $ 0.0001 par value per share, outstanding.
Retro-inspired vivid and bold color palates complement technical fabrics to deliver fashion, form and function for women, men and children.
Our Industry We operate at the intersection of the global luxury skiwear, outerwear, and active lifestyle markets, which are large, resilient, and undergoing structural growth.
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REMOVED
The registrant s common shares began trading on the NYSE American on February 8, 2024.
As of June 26, 2024, there were 15,653,449 shares of common stock, $0.0001 par value per share, outstanding.
Donard assigned the Perfect Moment trademark to Perfect Moment TM Sarl ( TMS ), a then newly incorporated Swiss company, 50% of which was owned by Mr.
Donard and 50% of which was owned by Fermain Limited, an entity controlled by Max Gottschalk, who is the Chairman of our board of directors, and Jane Gottschalk, who is our Chief Creative Officer and a member of our board of directors.
Perfect Moment Asia Limited ( PMA ) was also incorporated in May 2012 and PMA entered into a licensing agreement with TMS for the Perfect Moment trademark.
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