Perfect Moment Ltd. Common Stock

Perfect Moment Ltd. (PMNT) reported strong Q3 2026 results for the period ended December 31, 2025, with net revenues of $11.7M, up significantly from prior periods as indicated by share count growth from 19.3M to 35.4M shares outstanding. Gross profit reached $7.5M on $4.1M cost of sales, yielding a healthy gross margin. Operating income was positive at $583K after $6.9M total operating expenses, including $5.6M SG&A and $1.3M marketing. Net income stood at $93K, though dividends on Series AA Convertible Preferred Stock of $161K resulted in a $68K net loss attributable to common shareholders. Comprehensive income was $182K, boosted by $89K foreign currency translation gain. Balance sheet shows $13.8M total assets, with $13.2M current assets including $1.6M cash, $1.4M restricted cash, $5.1M receivables, and $4.6M inventories. Current liabilities of $11.1M exceed equity of $1.1M, reflecting high leverage with $12.7M total liabilities including related party notes. Cash flows revealed $8.8M used in operations, offset by $3.3M from financing, leading to a $5.9M net decrease in cash to $7.5M total (cash plus restricted). Positive profitability marks improvement, but ongoing cash burn and debt reliance signal liquidity risks for investors.

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