Executive Summary
Defense Technologies International Corp (DTII) reported a severely distressed QQ3 2024 quarter characterized by negligible topline visibility, a meaningful net loss, and a precariously levered balance sheet. Reported figures show a negative gross profit (-$10.00) driven by cost dynamics in the absence of recognized revenue, ongoing operating expenses of $141,270 and interest expense of $6,771, culminating in a net loss of $121,603 and an EBITDA of -$116,044. Cash flow generation from operations was modest at $18,375, but the company carries an alarmingly weak liquidity position, with cash on hand of only $304 and a current ratio of 0.0035. On the balance sheet, total assets sit at $7,903 against total current liabilities of $2,239,410 and total liabilities of $2,239,410, resulting in a negative stockholders’ equity of -$1,922,851 and a net debt position of $437,811. These metrics flag substantial solvency and liquidity risk, as well as elevated funding needs to sustain ongoing operations and any strategic pivot. Management commentary (not available in the provided transcript data) would be critical to gauge plans for revenue monetization, cost discipline, and balance sheet rehabilitation. The quarter’s data imply that the business remains at a fragile stage, requiring near-term liquidity relief, revenue acceleration, or strategic restructuring to restore investor confidence.
Key Performance Indicators
Key Insights
Revenue: Not reported for QQ3 2024 (null). Cost of revenue: $10.00; Gross profit: -$10.00. Operating expenses: $141,270 (comprising General and Administrative = $141,270 and Selling/SG&A = $0 listed as separate). Interest expense: $6,771. Depreciation & amortization: $2,169. EBITDA: -$116,044. Operating income: -$141,270. Total other income/expenses: $18,455. Income before tax: -$122,815. Income tax expense: -$10,316. Net income: -$121,603. EPS: -0.01. Weighted average shares outstanding...
Financial Highlights
Revenue: Not reported for QQ3 2024 (null). Cost of revenue: $10.00; Gross profit: -$10.00. Operating expenses: $141,270 (comprising General and Administrative = $141,270 and Selling/SG&A = $0 listed as separate). Interest expense: $6,771. Depreciation & amortization: $2,169. EBITDA: -$116,044. Operating income: -$141,270. Total other income/expenses: $18,455. Income before tax: -$122,815. Income tax expense: -$10,316. Net income: -$121,603. EPS: -0.01. Weighted average shares outstanding: 8,942,736. Operating cash flow: $18,375. Free cash flow: $18,375. Net cash provided by operating activities: $18,375. Cash at end of period: $304. Total assets: $7,903. Total liabilities: $2,239,410. Short-term debt: $438,115. Current ratio: 0.00353. Quick ratio: 0.000136. Net debt: $437,811. Retained earnings: -$16,978,037. Total stockholders' equity: -$1,922,851. Key profitability ratios are largely not meaningful due to missing revenue and negative equity. YoY and QoQ metrics shown in the data indicate nominal changes (e.g., operating income YoY +22.80%, QoQ +1.62%; net income YoY +23.04%, QoQ +32.11%), but these reflect an extremely small base and ongoing losses rather than meaningful margin expansion.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-10.00 |
N/A |
-100.04% |
| Operating Income |
-141.27K |
22.80% |
1.62% |
| Net Income |
-121.60K |
23.04% |
32.11% |
| EPS |
-0.01 |
95.65% |
83.33% |
Key Financial Ratios
operatingCashFlowPerShare
$0
Management Commentary
transcriptHighlights: No earnings call transcript data provided in the dataset. Therefore, there are no management quotes available to extract themes or develop a quote-based highlights section.
No earnings call transcript available for this period.
— DTII Management
Forward Guidance
No formal forward guidance is provided in the supplied data. Given the absence of reported revenue in QQ3 2024 and the pronounced liquidity deficit, the near-term guidance would plausibly focus on stabilizing cash burn, securing working capital, and outlining a credible path to revenue monetization for Passive Security Scan units. Investors should monitor any management commentary on: (a) revenue recognition/timing and contract wins for passive scanning products; (b) cost-control initiatives and potential headcount reductions; (c) avenues to strengthen liquidity (financing, asset monetization, or debt restructuring); and (d) milestones for product deployment, field trials, or partnerships that could translate into measurable orders. Achievability hinges on capital availability and market adoption of the security scanning technology, neither of which is clearly evidenced in QQ3 2024.