RiskOn International, Inc. (ROII), formerly BitNile Metaverse, Inc., reported its financial performance for the fiscal year ended March 31, 2024. The company experienced a net loss from continuing operations of $25 million, a decrease from the previous year's loss of $34 million. Total revenue for the year was $332,425, primarily from its newly launched businesses including the BitNile.com Metaverse platform, RiskOn360 conferences, and GuyCare clinics. The cost of revenues was $2.17 million, resulting in a gross loss of $1.84 million. Operating expenses totaled $35 million, driven by increased marketing, platform hosting fees, and personnel costs. Other income of $12 million partially offset the operating loss, mainly due to changes in the fair value of derivative liabilities. The company's cash position decreased to $26,410, with negative working capital of...Show More

RiskOn International, Inc. (ROII), formerly BitNile Metaverse, Inc., reported its financial performance for the fiscal year ended March 31, 2024. The company experienced a net loss from continuing operations of $25 million, a decrease from the previous year's loss of $34 million. Total revenue for the year was $332,425, primarily from its newly launched businesses including the BitNile.com Metaverse platform, RiskOn360 conferences, and GuyCare clinics. The cost of revenues was $2.17 million, resulting in a gross loss of $1.84 million. Operating expenses totaled $35 million, driven by increased marketing, platform hosting fees, and personnel costs. Other income of $12 million partially offset the operating loss, mainly due to changes in the fair value of derivative liabilities. The company's cash position decreased to $26,410, with negative working capital of $28 million. ROII financed its operations through advances from Ault Alliance, Inc. (AAI), convertible notes, and equity sales. The company's financial statements have been prepared on a going concern basis, although substantial doubt exists about its ability to continue due to recurring losses and insufficient cash to fund operations. ROII's future success depends on its ability to raise additional capital, develop its AI platform askROI, expand the Metaverse, and grow its GuyCare clinics.