nightculture inc (NGHT) Key Developments
Night Culture, Inc. announced delayed 10-Q filing
Nov 12 13
On 11/12/2013, Night Culture, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
Night Culture Seek Further Acquisitions
May 15 13
Night Culture, Inc. (OTCBB:NGHT) is seeking further acquisitions. Michael Long, Chief Executive Officer of Night Culture, said, "we continue to actively seek accretive acquisition opportunities that offer both revenue growth and increased profitability while increasing our footprint and strengthening our position in the market."
Night Culture, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2013
May 15 13
Night Culture, Inc. reported earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenues increased 22.7% to $1,016,986 compared to $829,033 in the first quarter of 2012. Gross margin increased 48.4% to $598,955 from $403,722 in the 2012 quarter. The company reported its first quarterly operating profit of $94,000, compared to a loss from operations of $28,701 in the 2012 quarter, and its first quarterly net income of $683,696, compared to a net loss of $3,832,516 in the 2012 quarter.
Night Culture, Inc. Reports Earnings Results for the Year Ended December 31, 2012
Apr 17 13
Night Culture, Inc. reported earnings results for the year ended December 31, 2012. For the year, the company’s operating results, including a 197% increase in revenues to a record $3,892,383 compared to $1,308,339 for 2011. The company's operating loss increased to $861,576 in 2012 from $428,722 in 2011 and net loss increased to $1,629,148 in 2012 from $511,711 in 2011. The increase in losses reflects continued investment in growth initiatives which brought added expenses from the acquisition of Stereo Live and entry into the Dallas/Fort Worth market, substantially higher promotional expense, non-recurring non-cash stock compensation expense of $340,000 and more than $600,000 of non-cash expenses associated with a financing transaction that provided funding to support growth initiatives.
Night Culture, Inc. Auditor Raises 'Going Concern' Doubt
Apr 16 13
Night Culture, Inc. filed its 10-K on Apr 16, 2013 for the period ending Dec 31, 2012. In this report its auditor, Malone & Bailey, PLLC, gave an unqualified opinion expressing doubt that the company can continue as a going concern.