secwatch.observer — SEC 8-K summary
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Issuer:     CHEETAH NET SUPPLY CHAIN SERVICE INC. (CTNT)
CIK:        0001951667
Form:       8-K
Filed at:   2024-11-13T23:59:59+00:00
Accession:  0001104659-24-117812
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cheetah Net Q3 revenue plummets 99% to $61K; net loss $1.8M vs prior-year profit
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- Q3 2024 revenue $61,208 (logistics/warehousing only), down 99.4% from $10.0M; no parallel-import vehicle revenue.
- Net loss of $1.8M in Q3 2024 vs net income of $0.1M in Q3 2023; nine-month net loss $3.0M vs profit $0.2M.
- Recorded $1.1M allowance for credit loss on aged AR from parallel-import vehicle business (accounts >210 days overdue).
- Completed 1-for-16 reverse stock split effective Oct 21, 2024; raised $1.1M net in July public offering at $3.68/share.
- Business pivoting from parallel-import vehicles to logistics/warehousing; HQ relocated from Charlotte, NC to Irvine, CA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1951667/000110465924117812/0001104659-24-117812-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1951667/000110465924117812/tm2428318d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-117812

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