Nightfood's acquired hotel entity posts 2024 net loss, auditor flags going concern

NightFood Holdings, Inc.

Treasure Mountain (Hilton Garden Inn Rancho Mirage) had net loss of $102,505 in 2024 vs. net income of $21,994 in 2023.
Revenue fell 6.3% YoY to $4.23M; total liabilities of $13.21M exceed total assets of $9.84M, creating negative equity.
Cash only $73,899; working capital deficit of $3.24M; members' deficit of $3.36M as of Dec 31, 2024.
Acquisition consideration valued at ~$47.08M, including 176,167 Series C Preferred shares and contingent earnout of up to $4.8M.
Auditor expresses substantial doubt about ability to continue as going concern due to recurring losses and limited liquidity.

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