季報
季度報告
10-Q
2026-05-15
Eva Live 首季收入增6%惟轉虧856萬美元，應收賬款逾期及成本飆升添隱憂
AI 繁中摘要
申報類型：10-Q（季度報告）｜公司：Eva Live Inc.（NASDAQ: GOAI）｜財政季度：2026年第一季（截至2026年3月31日）
重點摘要：
Eva Live 公佈 2026 年第一季業績，收入錄得 390 萬美元，按年增長 6%（去年同期 368 萬美元），但期內由盈轉虧，錄得淨虧損 856 萬美元（去年同期純利 200 萬美元）。虧損主因是一般及行政開支急升至 928 萬美元，當中包括 761 萬美元的非現金股份基礎薪酬支出（主要涉及 CEO 購股權歸屬），以及媒體流量採購成本增至 373 萬美元（佔收入約 95%），大幅壓縮毛利率。
營運現金流方面，期內經營活動淨流出 128 萬美元（去年同期淨流入 11 萬美元）。現金及現金等價物由年初 20 萬美元大幅增至 577 萬美元，主要得益於融資活動：公司於 2026 年 2 月 26 日向 Streeterville Capital 發行本金額 756 萬美元的高級有抵押可轉換票據，扣除發行成本及折讓後淨籌 685 萬美元。
資產負債表亮點：總資產 2,472 萬美元，流動資產 2,470 萬美元（包括應收賬款 1,844 萬美元，其中約 79% 已逾期超過 90 天）；總負債 1,236 萬美元，股東權益 1,235 萬美元。管理層指出，由於應收賬款賬齡偏高及媒體成本上升，公司存在持續經營重大疑慮。
管理層應對計劃：
- 已於 2026 年 4 月 14 日與 Maxim Group 簽訂股權分銷協議，可透過 ATM 發行最多 1 億美元普通股，補充營運資金。
- 預期媒體流量採購成本比率將在未來兩季回落至約 41%–45% 的歷史水平。
- 積極跟進大額應收賬款（約 1,453 萬美元逾期 90 日以上），預期可於未來一年內收回。
- Streeterville 可轉換票據持有人可選擇轉換為普通股，毋須現金償還，預期大部分餘額將以股份結算。
投資者影響：第一季業績顯示公司收入增長但盈利能力大幅倒退，主要受一次性非現金項目及成本結構惡化影響。管理層已透過融資安排（ATM 及可轉換票據）增強現金緩衝，但應收賬款回收及成本正常化將是短期關鍵。股價近期波動較大，投資者需關注後續季度能否扭轉虧損趨勢。
展開英文正文
false --12-31 Q1 0001983736 0001983736 2026-01-01 2026-03-31 0001983736 2026-05-13 0001983736 2026-03-31 0001983736 2025-12-31 0001983736 2025-01-01 2025-03-31 0001983736 us-gaap:CommonStockMember 2024-12-31 0001983736 us-gaap:AdditionalPaidInCapitalMember 2024-12-31 0001983736 us-gaap:DeferredCompensationShareBasedPaymentsMember 2024-12-31 0001983736 us-gaap:RetainedEarningsMember 2024-12-31 0001983736 2024-12-31 0001983736 us-gaap:CommonStockMember 2025-12-31 0001983736 us-gaap:AdditionalPaidInCapitalMember 2025-12-31 0001983736 us-gaap:DeferredCompensationShareBasedPaymentsMember 2025-12-31 0001983736 us-gaap:RetainedEarningsMember 2025-12-31 0001983736 us-gaap:CommonStockMember 2025-01-01 2025-03-31 0001983736 us-gaap:AdditionalPaidInCapitalMember 2025-01-01 2025-03-31 0001983736 us-gaap:DeferredCompensationShareBasedPaymentsMember 2025-01-01 2025-03-31 0001983736 us-gaap:RetainedEarningsMember 2025-01-01 2025-03-31 0001983736 us-gaap:CommonStockMember 2026-01-01 2026-03-31 0001983736 us-gaap:AdditionalPaidInCapitalMember 2026-01-01 2026-03-31 0001983736 us-gaap:DeferredCompensationShareBasedPaymentsMember 2026-01-01 2026-03-31 0001983736 us-gaap:RetainedEarningsMember 2026-01-01 2026-03-31 0001983736 us-gaap:CommonStockMember 2025-03-31 0001983736 us-gaap:AdditionalPaidInCapitalMember 2025-03-31 0001983736 us-gaap:DeferredCompensationShareBasedPaymentsMember 2025-03-31 0001983736 us-gaap:RetainedEarningsMember 2025-03-31 0001983736 2025-03-31 0001983736 us-gaap:CommonStockMember 2026-03-31 0001983736 us-gaap:AdditionalPaidInCapitalMember 2026-03-31 0001983736 us-gaap:DeferredCompensationShareBasedPaymentsMember 2026-03-31 0001983736 us-gaap:RetainedEarningsMember 2026-03-31 0001983736 GOAI:ImpactFutureMediaLLCMember 2014-02-11 0001983736 GOAI:EvaMediaCorpMember 2021-09-28 2021-09-28 0001983736 GOAI:EvaMediaCorpMember 2021-09-28 0001983736 GOAI:EvaMediaCorpMember 2021-09-28 0001983736 2021-09-09 2021-09-09 0001983736 GOAI:GeneralAndAdministrativeExpensesMember 2026-01-01 2026-03-31 0001983736 GOAI:GeneralAndAdministrativeExpensesMember 2025-01-01 2025-03-31 0001983736 GOAI:BraiinLimitedMember 2026-03-31 0001983736 GOAI:JetAIIncMember 2026-03-31 0001983736 GOAI:BraiinLimitedMember 2026-01-01 2026-03-31 0001983736 GOAI:JetAIIncMember 2026-01-01 2026-03-31 0001983736 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember GOAI:ThreeCustomersMember 2026-01-01 2026-03-31 0001983736 us-gaap:CustomerConcentrationRiskMember us-gaap:AccountsReceivableMember GOAI:ThreeCustomersMember 2025-01-01 2025-12-31 0001983736 us-gaap:FairValueInputsLevel1Member 2026-03-31 0001983736 us-gaap:FairValueInputsLevel3Member 2026-03-31 0001983736 2025-10-01 2025-12-31 0001983736 us-gaap:ReclassificationOtherMember 2026-01-01 2026-03-31 0001983736 2024-01-01 2024-12-31 0001983736 2023-01-01 2023-12-31 0001983736 2025-01-01 2025-12-31 0001983736 2026-02-26 0001983736 GOAI:EquityDistributionAgreementMember us-gaap:SubsequentEventMember 2026-04-14 2026-04-14 0001983736 GOAI:EquityDistributionAgreementMember us-gaap:SubsequentEventMember 2026-04-09 0001983736 GOAI:EquityDistributionAgreementMember us-gaap:SubsequentEventMember srt:MinimumMember 2026-04-14 2026-04-14 0001983736 GOAI:EquityDistributionAgreementMember us-gaap:SubsequentEventMember srt:MaximumMember 2026-04-14 2026-04-14 0001983736 GOAI:DigitalAdvertisingAndMediaMonetizationMember 2026-01-01 2026-03-31 0001983736 GOAI:DigitalAdvertisingAndMediaMonetizationMember 2025-01-01 2025-03-31 0001983736 GOAI:MarketingServicesMember 2026-01-01 2026-03-31 0001983736 GOAI:MarketingServicesMember 2025-01-01 2025-03-31 0001983736 2026-01-01 2026-01-01 0001983736 us-gaap:RestrictedStockMember 2026-01-01 2026-01-01 0001983736 2026-01-16 2026-01-31 0001983736 2026-02-28 2026-02-28 0001983736 2026-03-31 2026-03-31 0001983736 2026-01-14 2026-01-14 0001983736 2026-02-20 2026-02-20 0001983736 2026-02-26 2026-02-26 0001983736 GOAI:MonthOneMember GOAI:BraiinLimitedMember 2026-03-05 2026-03-05 0001983736 GOAI:MonthTwoMember GOAI:BraiinLimitedMember 2026-03-05 2026-03-05 0001983736 GOAI:MonthThreeMember GOAI:BraiinLimitedMember 2026-03-05 2026-03-05 0001983736 GOAI:MonthFourToSixMember GOAI:BraiinLimitedMember 2026-03-05 2026-03-05 0001983736 GOAI:MonthSevenToNineMember GOAI:BraiinLimitedMember 2026-03-05 2026-03-05 0001983736 us-gaap:RestrictedStockMember 2026-03-05 2026-03-05 0001983736 2026-03-05 0001983736 GOAI:BraiinLimitedMember 2026-03-05 2026-03-05 0001983736 2026-03-05 2026-03-05 0001983736 GOAI:BraiinLimitedInvestorRelationsContractMember 2026-03-05 2026-03-05 0001983736 GOAI:BraiinLimitedInvestorRelationsContractMember 2026-03-31 0001983736 2026-03-06 2026-03-06 0001983736 us-gaap:SubsequentEventMember 2026-04-07 2026-04-07 0001983736 us-gaap:RestrictedStockMember GOAI:JetAIIncMember 2026-01-01 2026-03-31 0001983736 us-gaap:RestrictedStockMember GOAI:BraiinLimitedMember 2026-01-01 2026-03-31 0001983736 us-gaap:SubsequentEventMember 2026-04-08 2026-04-08 0001983736 GOAI:JetAIIncMember 2026-04-08 2026-04-08 0001983736 us-gaap:SubsequentEventMember 2026-04-28 2026-04-28 0001983736 GOAI:BraiinLimitedMember 2026-01-01 2026-03-31 0001983736 GOAI:JetAIIncMember 2026-01-01 2026-03-31 0001983736 GOAI:BraiinLimitedMember 2026-03-31 0001983736 GOAI:BraiinLimitedMember 2026-01-01 2026-03-31 0001983736 GOAI:JetAIIncMember 2026-03-31 0001983736 GOAI:JetAIIncMember 2025-12-31 0001983736 GOAI:BraiinLimitedMember 2025-12-31 0001983736 us-gaap:FurnitureAndFixturesMember srt:MinimumMember 2026-03-31 0001983736 us-gaap:FurnitureAndFixturesMember srt:MaximumMember 2026-03-31 0001983736 us-gaap:FurnitureAndFixturesMember 2026-03-31 0001983736 us-gaap:FurnitureAndFixturesMember 2025-12-31 0001983736 us-gaap:FurnitureAndFixturesMember 2026-01-01 2026-03-31 0001983736 us-gaap:FurnitureAndFixturesMember 2025-01-01 2025-03-31 0001983736 GOAI:MrBouletteMember 2025-05-31 2025-05-31 0001983736 GOAI:MrBouletteMember 2026-02-17 2026-02-17 0001983736 GOAI:MrBouletteMember 2026-04-17 2026-04-17 0001983736 GOAI:MrBouletteMember 2026-02-17 0001983736 GOAI:MrJamalMember 2025-05-27 0001983736 GOAI:MrJamalMember 2025-05-27 2025-05-27 0001983736 srt:DirectorMember 2026-01-01 2026-03-31 0001983736 2025-09-22 0001983736 GOAI:MrImranFirozMember 2026-01-01 2026-03-31 0001983736 GOAI:MrImranFirozMember 2026-03-31 0001983736 GOAI:GlobalAllianceConsultingAgreementMember GOAI:GlobalAllianceConsultingMember 2026-01-01 2026-01-01 0001983736 GOAI:GlobalAllianceConsultingAgreementMember 2026-01-01 0001983736 GOAI:GlobalAllianceConsultingAgreementMember 2026-01-01 2026-01-01 0001983736 GOAI:GlobalAllianceConsultingAgreementMember 2026-01-01 2026-03-31 0001983736 GOAI:BusinessConsultingAgreementMember 2026-01-01 0001983736 GOAI:BusinessConsultingAgreementMember 2026-01-01 2026-01-01 0001983736 GOAI:BusinessConsultingAgreementMember 2025-12-31 0001983736 srt:ChiefExecutiveOfficerMember 2026-01-01 2026-03-31 0001983736 GOAI:GlobalAllianceConsultingGroupMember 2026-01-01 2026-03-31 0001983736 GOAI:GlobalAllianceConsultingGroupMember 2026-03-31 0001983736 us-gaap:EmployeeStockOptionMember srt:ChiefExecutiveOfficerMember 2026-01-01 2026-03-31 0001983736 us-gaap:EmployeeStockOptionMember srt:ChiefExecutiveOfficerMember 2026-03-31 0001983736 us-gaap:RestrictedStockUnitsRSUMember GOAI:GlobalAllianceConsultingGroupMember 2026-01-01 2026-03-31 0001983736 us-gaap:RestrictedStockUnitsRSUMember GOAI:GlobalAllianceConsultingGroupMember 2026-03-31 0001983736 srt:ManagementMember 2026-03-31 0001983736 srt:ChiefExecutiveOfficerMember GOAI:CEOEmployeeAgreementMember 2025-05-31 2025-05-31 0001983736 GOAI:EmployeeAgreementMember GOAI:CEOEmployeeAgreementMember 2025-05-31 2025-05-31 0001983736 GOAI:EmployeeAgreementMember GOAI:CEOEmployeeAgreementMember 2025-05-31 0001983736 GOAI:EmployeeAgreementMember srt:ChiefExecutiveOfficerMember 2025-01-01 2025-12-31 0001983736 GOAI:EmployeeAgreementMember 2025-12-31 0001983736 GOAI:EmployeeAgreementMember GOAI:ShareBasedCompensationAwardTrancheFiveMember srt:ChiefExecutiveOfficerMember 2025-12-31 0001983736 GOAI:ShareBasedCompensationAwardTrancheFiveMember GOAI:CEOEmployeeAgreementMember 2026-02-17 0001983736 GOAI:CEOEmployeeAgreementMember 2026-02-17 0001983736 GOAI:CEOEmployeeAgreementMember GOAI:BouletteMember 2026-03-31 0001983736 GOAI:CEOEmployeeAgreementMember GOAI:BouletteMember 2025-12-31 0001983736 GOAI:CarolinaVRamosMember us-gaap:RelatedPartyMember 2018-12-31 2018-12-31 0001983736 GOAI:OfficeManagerMember us-gaap:RelatedPartyMember 2018-12-31 2018-12-31 0001983736 GOAI:CEOEmployeeAgreementMember GOAI:RamosMember 2026-01-01 2026-03-31 0001983736 GOAI:CEOEmployeeAgreementMember GOAI:RamosMember 2026-03-31 0001983736 GOAI:CEOEmployeeAgreementMember GOAI:RamosMember 2025-12-31 0001983736 GOAI:WalserMember GOAI:DirectorAgreementMember 2026-01-01 2026-03-31 0001983736 GOAI:AspinMember GOAI:DirectorAgreementMember 2026-01-01 2026-03-31 0001983736 GOAI:IndependentDirectorAgreementMember 2026-01-01 2026-03-31 0001983736 GOAI:IndependentDirectorAgreementMember srt:BoardOfDirectorsChairmanMember 2026-01-01 2026-03-31 0001983736 GOAI:MessrsWalserMember 2026-01-01 2026-03-31 0001983736 GOAI:MessrsMember 2026-01-01 2026-03-31 0001983736 GOAI:WalserMember 2026-01-01 2026-03-31 0001983736 GOAI:WalserMember 2025-01-01 2025-12-31 0001983736 GOAI:AspinMember 2026-01-01 2026-03-31 0001983736 GOAI:AspinMember 2025-01-01 2025-12-31 0001983736 GOAI:JamalMember 2026-01-01 2026-03-31 0001983736 GOAI:JamalMember 2025-01-01 2025-12-31 0001983736 GOAI:ShadmanMember 2026-01-01 2026-03-31 0001983736 GOAI:ShadmanMember 2025-01-01 2025-12-31 0001983736 GOAI:ImranFirozMember 2026-01-01 2026-03-31 0001983736 GOAI:SparkCapitalInvestmentsLLCMember 2026-01-01 2026-03-31 0001983736 GOAI:ImranFirozMember 2025-01-01 2025-12-31 0001983736 srt:OfficerMember 2026-01-01 2026-03-31 0001983736 srt:DirectorMember 2025-01-01 2025-12-31 0001983736 GOAI:SparkCapitalInvestmentLLCMember 2026-01-01 2026-03-31 0001983736 GOAI:SparkCapitalInvestmentLLCMember 2025-01-01 2025-12-31 0001983736 GOAI:BouletteMember us-gaap:RelatedPartyMember 2026-03-31 0001983736 GOAI:BouletteMember us-gaap:RelatedPartyMember 2026-01-01 2026-03-31 0001983736 GOAI:CEOEmployeeAgreementMember us-gaap:RelatedPartyMember 2026-02-17 2026-02-17 0001983736 GOAI:DiagonalLendingLLCMember 2026-01-01 2026-03-31 0001983736 GOAI:BootCapitalLLCMember 2026-01-01 2026-03-31 0001983736 GOAI:DiagonalLendingLLCMember 2026-03-31 0001983736 GOAI:DiagonalLendingLLCMember 2025-12-31 0001983736 GOAI:BootCapitalLLCMember 2026-03-31 0001983736 GOAI:BootCapitalLLCMember 2025-12-31 0001983736 GOAI:NotesPayableMember 2026-03-31 0001983736 GOAI:NotesPayableMember 2025-12-31 0001983736 GOAI:GlobalAllianceConslutingGroupMember 2026-03-31 0001983736 GOAI:GlobalAllianceConslutingGroupMember 2025-12-31 0001983736 GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:StreetervilleCapitalLLCMember 2025-12-31 0001983736 us-gaap:ConvertibleNotesPayableMember 2026-03-31 0001983736 us-gaap:ConvertibleNotesPayableMember 2025-12-31 0001983736 us-gaap:ConvertibleDebtMember 2026-03-31 0001983736 GOAI:DAllisonNoteMember 2026-01-01 2026-03-31 0001983736 GOAI:StreetrvilleInitialNoteMember 2026-01-01 2026-03-31 0001983736 GOAI:DiagonalLendingLLCMember 2026-01-29 0001983736 GOAI:ConvertiblePromissoryNoteMember GOAI:DiagonalLendingLLCMember 2026-03-31 0001983736 GOAI:DiagonalLendingLLCMember 2025-03-17 2026-01-28 0001983736 srt:MinimumMember GOAI:DiagonalLendingLLCMember 2026-01-29 0001983736 srt:MaximumMember GOAI:DiagonalLendingLLCMember 2026-01-29 0001983736 srt:MinimumMember GOAI:DiagonalLendingLLCMember 2025-03-17 2026-01-29 0001983736 srt:MaximumMember GOAI:DiagonalLendingLLCMember 2025-03-17 2026-01-29 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:DiagonalLendingLLCMember 2026-01-15 0001983736 GOAI:DiagonalLendingLLCMember 2026-01-15 2026-01-15 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:DiagonalLendingLLCMember 2026-01-29 0001983736 2026-01-29 2026-01-29 0001983736 GOAI:DiagonalLendingLLCMember 2026-01-30 2026-01-30 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:DiagonalLendingLLCMember 2026-03-26 0001983736 GOAI:DiagonalLendingLLCMember 2026-01-29 2026-01-29 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:DiagonalLendingLLCMember 2026-01-28 0001983736 GOAI:DiagonalLendingLLCMember 2026-01-28 2026-01-28 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:DiagonalLendingLLCMember 2026-03-31 0001983736 GOAI:DiagonalLendingLLCMember 2026-04-28 2026-04-28 0001983736 GOAI:DiagonalLendingLLCMember 2026-04-28 0001983736 GOAI:BootCapitalLLCMember 2026-01-30 0001983736 GOAI:ConvertiblePromissoryNoteMember GOAI:BootCapitalLLCMember 2026-01-30 0001983736 GOAI:BootCapitalLLCMember 2025-03-18 2026-01-30 0001983736 srt:MinimumMember GOAI:BootCapitalLLCMember 2026-01-30 0001983736 srt:MaximumMember GOAI:BootCapitalLLCMember 2026-01-30 0001983736 srt:MinimumMember GOAI:BootCapitalLLCMember 2025-03-18 2026-01-30 0001983736 srt:MaximumMember GOAI:BootCapitalLLCMember 2025-03-18 2026-01-30 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:BootCapitalLLCMember 2026-03-31 0001983736 us-gaap:ConvertibleNotesPayableMember 2026-01-30 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:BootCapitalLLCMember 2026-01-30 0001983736 GOAI:BootCapitalLLCMember 2026-01-30 2026-01-30 0001983736 GOAI:BootCapitalLLCMember 2026-01-28 0001983736 GOAI:BootCapitalLLCMember 2026-01-28 2026-01-28 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:BootCapitalLLCMember 2026-01-28 0001983736 us-gaap:ConvertibleNotesPayableMember GOAI:BootCapitalLLCMember 2026-01-28 2026-01-28 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2024-06-21 0001983736 srt:MinimumMember 2025-03-17 2026-01-29 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2024-08-31 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2025-01-06 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2025-11-20 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2025-12-08 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2025-12-31 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2026-03-31 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2026-01-01 2026-03-31 0001983736 GOAI:ConvertiblePromissoryNoteMember GOAI:GlobalAllianceConsultingGroupMember 2025-12-10 0001983736 GOAI:ConvertiblePromissoryNoteMember GOAI:GlobalAllianceConsultingGroupMember 2025-12-10 2025-12-10 0001983736 GOAI:ConvertiblePromissoryNoteMember GOAI:GlobalAllianceConslutingGroupMember 2025-12-17 2025-12-17 0001983736 GOAI:NotesPayableMember GOAI:DAllisionMember 2025-12-10 2025-12-10 0001983736 GOAI:NotesPayableMember GOAI:GlobalAllianceConslutingGroupMember 2026-03-31 0001983736 GOAI:NotesPayableMember GOAI:GlobalAllianceConsultingGroupMember 2026-03-31 0001983736 GOAI:NotesPayableMember GOAI:GlobalAllianceConsultingGroupMember 2026-01-01 2026-03-31 0001983736 GOAI:ConvertiblePromissoryNoteMember us-gaap:CommonStockMember 2026-01-01 2026-03-31 0001983736 GOAI:SeniorSecuredConvertibleNoteMember GOAI:StreetervilleCapitalLLCMember 2026-02-26 0001983736 GOAI:SeniorSecuredConvertibleNoteMember GOAI:StreetervilleCapitalLLCMember 2026-02-26 2026-02-26 0001983736 GOAI:SeniorSecuredConvertibleNoteMember GOAI:StreetervilleCapitalLLCMember 2026-02-26 2026-03-31 0001983736 GOAI:SeniorSecuredConvertibleNoteMember GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:SeniorSecuredConvertibleNoteMember GOAI:StreetervilleCapitalLLCMember srt:MinimumMember 2026-03-31 0001983736 GOAI:SeniorSecuredConvertibleNoteMember GOAI:StreetervilleCapitalLLCMember srt:MaximumMember 2026-03-31 0001983736 GOAI:SeniorSecuredConvertibleNoteMember GOAI:StreetervilleCapitalLLCMember 2026-01-01 2026-03-31 0001983736 GOAI:DiagonalAndBootConvertibleNoteMember 2026-03-31 0001983736 GOAI:DiagonalAndBootConvertibleNoteMember 2026-01-01 2026-03-31 0001983736 GOAI:DAllisonNoteMember 2025-01-01 2025-03-31 0001983736 GOAI:DAllisonNoteMember 2025-03-17 2025-03-17 0001983736 GOAI:StreetervilleCapitalLLCMember 2026-01-01 0001983736 GOAI:IssuanceFebruaryTwentySixTwoThousandAndTwentySixFaceValueMember GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:AggregateDiscountEstablishedAtIssuanceMember GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:InitialFairValueOfCompoundEmbeddedDerivativeMember GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:DiscountAmortizationMember GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:StatedInterestAccrualMember GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:MarkToMarketRemeasurementGainMember GOAI:StreetervilleCapitalLLCMember 2026-03-31 0001983736 GOAI:DiagonalConvertibleNotesMember 2026-01-01 2026-03-31 0001983736 GOAI:DiagonalConvertibleNotesMember 2025-01-01 2025-03-31 0001983736 GOAI:BootConvertibleNotesMember 2026-01-01 2026-03-31 0001983736 GOAI:BootConvertibleNotesMember 2025-01-01 2025-03-31 0001983736 GOAI:DAllisonNoteMember 2026-01-01 2026-03-31 0001983736 GOAI:DAllisonNoteMember 2025-01-01 2025-03-31 0001983736 GOAI:GlobalAllianceNoteMember 2026-01-01 2026-03-31 0001983736 GOAI:GlobalAllianceNoteMember 2025-01-01 2025-03-31 0001983736 GOAI:StreetervilleInitialNoteMember 2026-01-01 2026-03-31 0001983736 GOAI:StreetervilleInitialNoteMember 2025-01-01 2025-03-31 0001983736 us-gaap:CommonStockMember GOAI:GlobalAllianceConsultingGroupMember 2026-01-01 2026-01-01 0001983736 us-gaap:CommonStockMember GOAI:GlobalAllianceConsultingGroupMember 2025-01-01 2025-12-31 0001983736 us-gaap:CommonStockMember GOAI:GlobalAllianceConsultingGroupMember 2025-12-31 0001983736 us-gaap:CommonStockMember GOAI:GlobalAllianceConsultingGroupMember 2026-03-31 0001983736 GOAI:HottestMediaLLCMember 2026-02-05 2026-02-05 0001983736 2026-02-05 2026-02-05 0001983736 2025-02-05 0001983736 srt:ChiefExecutiveOfficerMember 2026-02-17 2026-02-17 0001983736 2026-02-17 2026-02-17 0001983736 2026-01-28 2026-01-28 0001983736 2026-01-30 2026-01-30 0001983736 GOAI:ThousandEightHundredDiagonalLendingLLCMember 2026-01-28 2026-01-28 0001983736 GOAI:ThousandEightHundredDiagonalLendingLLCMember 2026-01-30 2026-01-30 0001983736 2026-01-28 0001983736 2026-01-30 0001983736 GOAI:MaximGroupLLCMember 2026-03-23 2026-03-23 0001983736 GOAI:MaximGroupLLCMember 2026-03-23 0001983736 GOAI:MaximGroupLLCMember GOAI:MutualAgreementMember 2026-03-23 2026-03-23 0001983736 GOAI:EmploymentAgreementMember srt:ChiefExecutiveOfficerMember 2025-05-31 2025-05-31 0001983736 GOAI:EmploymentAgreementMember srt:ChiefExecutiveOfficerMember 2025-05-31 0001983736 us-gaap:ShareBasedCompensationAwardTrancheOneMember GOAI:EmploymentAgreementMember 2026-01-01 2026-01-01 0001983736 us-gaap:ShareBasedCompensationAwardTrancheOneMember 2025-01-01 2025-12-31 0001983736 2025-05-31 0001983736 2025-05-31 2025-05-31 0001983736 us-gaap:ShareBasedCompensationAwardTrancheOneMember 2026-02-17 2026-02-17 0001983736 2026-02-17 0001983736 GOAI:MaximGroupLLCMember us-gaap:CommonStockMember 2026-01-01 2026-03-31 0001983736 GOAI:MaximGroupLLCMember us-gaap:CommonStockMember us-gaap:ShareBasedCompensationAwardTrancheOneMember 2026-01-01 2026-03-31 0001983736 GOAI:MaximGroupLLCMember us-gaap:CommonStockMember us-gaap:ShareBasedCompensationAwardTrancheTwoMember 2026-01-01 2026-03-31 0001983736 GOAI:HottestMediaLLCMember 2026-02-05 0001983736 GOAI:HottestMediaLLCMember 2025-02-05 0001983736 us-gaap:SubsequentEventMember GOAI:StreetervilleNoteMember 2026-05-12 0001983736 us-gaap:SubsequentEventMember GOAI:StreetervilleNoteMember 2026-05-12 2026-05-12 0001983736 us-gaap:SubsequentEventMember GOAI:StreetervilleNoteMember 2026-05-06 2026-05-06 0001983736 GOAI:MaximGroupLLCMember us-gaap:CommonStockMember us-gaap:SubsequentEventMember 2026-04-14 2026-04-14 0001983736 GOAI:MaximGroupLLCMember us-gaap:SubsequentEventMember 2026-04-14 2026-04-14 0001983736 us-gaap:SubsequentEventMember GOAI:EquityDistributionAgreementMember 2026-04-16 2026-05-06 0001983736 us-gaap:SubsequentEventMember GOAI:EquityDistributionAgreementMember 2026-05-06 0001983736 GOAI:DiagonalNoteFourMember us-gaap:SubsequentEventMember 2026-04-01 2026-05-08 0001983736 GOAI:DiagonalNoteFourMember us-gaap:SubsequentEventMember 2026-05-08 0001983736 GOAI:BraiinLimitedMember us-gaap:SubsequentEventMember 2026-04-07 2026-04-07 0001983736 GOAI:BraiinLimitedMember us-gaap:SubsequentEventMember srt:MinimumMember 2026-04-28 2026-04-28 0001983736 GOAI:BraiinLimitedMember us-gaap:SubsequentEventMember srt:MaximumMember 2026-04-28 2026-04-28 0001983736 GOAI:JetAIIncMember us-gaap:SubsequentEventMember 2026-04-08 2026-04-08 0001983736 GOAI:JetAIIncMember us-gaap:SubsequentEventMember srt:MinimumMember 2026-04-08 2026-04-08 0001983736 GOAI:JetAIIncMember us-gaap:SubsequentEventMember srt:MaximumMember 2026-04-08 2026-04-08 0001983736 GOAI:CoversionOneMember 2026-03-31 0001983736 GOAI:CoversionOneMember 2026-01-01 2026-03-31 0001983736 GOAI:CoversionTwoMember 2026-03-31 0001983736 GOAI:CoversionTwoMember 2026-01-01 2026-03-31 0001983736 GOAI:CoversionThreeMember 2026-03-31 0001983736 GOAI:CoversionThreeMember 2026-01-01 2026-03-31 0001983736 GOAI:CoversionFourMember 2026-03-31 0001983736 GOAI:CoversionFourMember 2026-01-01 2026-03-31 0001983736 GOAI:CoversionFiveMember 2026-03-31 0001983736 GOAI:CoversionFiveMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesOneMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesOneMember 2026-03-31 0001983736 GOAI:SalesTwoMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesTwoMember 2026-03-31 0001983736 GOAI:SalesThreeMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesThreeMember 2026-03-31 0001983736 GOAI:SalesFourMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesFourMember 2026-03-31 0001983736 GOAI:SalesFiveMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesFiveMember 2026-03-31 0001983736 GOAI:SalesSixMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesSixMember 2026-03-31 0001983736 GOAI:SalesSevenMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesSevenMember 2026-03-31 0001983736 GOAI:SalesEightMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesEightMember 2026-03-31 0001983736 GOAI:SalesNineMember 2026-01-01 2026-03-31 0001983736 GOAI:SalesNineMember 2026-03-31 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 31, 2026 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission File No. 001-43076 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 EVA LIVE INC. (Exact name of registrant as specified in its charter) Nevada 7370 88-2864075 State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Number) (IRS Employer Identification Number) The Plaza,1800 Century Park East, Suite 600, Los Angeles, CA 90067 Tel: (310) 229-5981 (Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.0001 GOAI The Nasdaq Stock Market LLC Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See the definition of “accelerated filer” and “large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☐ Smaller reporting company ☒ Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒ The number of shares of Common Stock, $0.0001 par value of the registrant outstanding on May 13, 2026, was 36,535,389. EVA LIVE INC. FORM 10-Q FOR THE THREE MONTHS ENDED MARCH 31, 2026 INDEX PART I – FINANCIAL INFORMATION Item 1. Financial Statements F-1 Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 1 Item 3. Quantitative and Qualitative Disclosure About Market Risk 11 Item 4. Controls and Procedures 11 PART II – OTHER INFORMATION Item 1. Legal Proceedings 12 Item 1A. Risk Factors 12 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 12 Item 3. Defaults Upon Senior Securities 13 Item 4. Mine Safety Disclosures 13 Item 5. Other Information 13 Item 6. Exhibits 13 i Item 1. Financial Statements Index to Consolidated Financial Statements Pages Consolidated Balance Sheet as of March 31, 2026 (Unaudited) and December 31, 2025 (Audited) F-2 Consolidated Statement of Operations for the three months ended March 31, 2026 (Unaudited), and March 31, 2025 (Unaudited) F-3 Consolidated Statement of Stockholders’ Equity (Deficit) for the three months ended March 31, 2026 (Unaudited), and March 31, 2025 (Unaudited, Restated) F-4 Consolidated Statement of Cash Flows for the three months ended March 31, 2026 (Unaudited) and March 31, 2025 (Unaudited) F-5 Notes to the Consolidated Financial Statements F-6 F-1 EVA LIVE, INC. CONSOLIDATED BALANCE SHEETS March 31, 2026 December 31, 2025 (Unaudited) (Audited) Assets: Current assets Cash $ 5,769,269 $ 202,524 Accounts receivable, net of allowance for doubtful accounts of $1,379,519 and $1,379,519, respectively 18,436,030 16,006,624 Marketable securities 360,900 - Original issuance discount, net 118,166 73,482 Deferred financing costs, net 18,277 18,044 Other assets 269 269 Total current assets $ 24,702,911 $ 16,300,943 Furniture, fixtures, and equipment 14,670 14,919 Total assets $ 24,717,581 $ 16,315,862 Liabilities and stockholders’ equity (deficit): Accounts payable and accrued liabilities 2,982,974 2,933,844 Accrued expenses 2,376,260 2,633,885 Convertible promissory notes 1,084,493 985,330 Accrued interest 51,801 68,601 Deferred revenue 549,803 - Total current liabilities $ 7,045,331 $ 6,621,660 Senior secured convertible promissory note, face value 7,560,000 - Less: Unamortized debt discount (7,163,566 ) Convertible note payable, net of unamortized discount 396,434 Derivative liability 4,923,000 - Total long-term liabilities 5,319,434 - Total liabilities $ 12,364,765 $ 6,621,660 Commitments and Contingencies (Note 6) - - Stockholders’ equity: Common stock, par value $0.0001, 300,000,000 shares authorized; 36,535,389 and 31,342,285 shares issued and outstanding, as of March 31, 2026, and December 31, 2025, respectively 3,653 3,134 Deferred stock-based compensation (2,062,500 ) - Additional paid-in capital 43,318,101 30,033,430 Accumulated deficit (28,906,438 ) (20,342,362 ) Total stockholders’ equity (deficit) $ 12,352,816 $ 9,694,202 Total liabilities and stockholders’ deficit: $ 24,717,581 $ 16,315,862 The accompanying notes are an integral part of these consolidated financial statements. F-2 EVA LIVE, INC. CONSOLIDATED STATEMENTS OF OPERATIONS March 31, 2026 March 31, 2025 Three Months Ended March 31, 2026 March 31, 2025 (Unaudited) (Unaudited) Sales 3,903,231 3,681,520 Total revenue $3,903,231 $3,681,520 Operating expenses General and administrative 9,279,934 377,385 Media traffic purchase 3,729,442 1,300,766 Amortization and depreciation 249 407 Total operating expenses 13,009,625 1,678,558 Operating income (loss) (9,106,394) 2,002,962 Other income (expense): Interest expense (499,082) (7,268) Marketable securities loss, unrealized (140,600) - Change in fair value of derivative liability 1,739,000 - Loss on settlement of payable (310,000) - Loss on issuance of senior secured convertible promissory note (247,000) - Total other income (expense) 542,318 (7,268) Income (loss) before provision for income taxes (8,564,076) 1,995,694 Provision (benefit) for income taxes - - Net income (loss) $(8,564,076) $1,995,694 Net loss per common share, basic and diluted (0.24) 0.06 Weighted average number of common shares outstanding basic and diluted 36,015,045 31,342,285 The accompanying notes are an integral part of these consolidated financial statements. F-3 EVA LIVE, INC. CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) (Unaudited) Number of Shares Common Stock Additional Paid-in Capital Deferred Stock-Based Compensation Accumulated Deficit Total Equity Balance — December 31, 2024 31,342,285 3,134 30,033,430 - (28,469,675) 1,566,889 Net income - - - - 1,995,694 1,995,694 Balance — March 31, 2025 31,342,285 3,134 30,033,430 - (26,473,981) 3,562,583 Balance — December 31, 2025 31,342,285 3,134 30,033,430 - (20,342,362) 9,694,202 Balance 31,342,285 3,134 30,033,430 - (20,342,362) 9,694,202 Shares issued for services, consultant, valued at $7.50 per share 300,000 30 2,249,970 (2,062,500) - 187,500 Stock-based compensation — CEO option exercise valued at $0.10 per share 4,000,000 400 399,600 - - 400,000 Increase in APIC for officer’s stock-based compensation - - 7,611,669 - - 7,611,669 Shares issued for note settlement valued at $3.26 per share 143,104 14 466,007 - - 466,021 Shares issued for accounts payable settlement valued at $3.10 per share 500,000 50 1,549,950 - - 1,550,000 Shares issued for advisory services, underwriter, valued at $4.03 per share 250,000 25 1,007,475 - - 1,007,500 Net loss - - - - (8,564,076) (8,564,076) Net income (loss) - - - - (8,564,076) (8,564,076) Balance — March 31, 2026 36,535,389 3,653 43,318,101 (2,062,500) (28,906,438) 12,352,816 Balance 36,535,389 3,653 43,318,101 (2,062,500) (28,906,438) 12,352,816 The accompanying notes are an integral part of these consolidated financial statements. F-4 EVA LIVE, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS March 31, 2026 March 31, 2025 Three Months Ended March 31, 2026 March 31, 2025 (Unaudited) (Unaudited) Cash Flows from operating activities: Net loss $ (8,564,076 ) $ 1,995,694 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 249 407 Shares issued for services 3,257,500 - Deferred stock based compensation (2,062,500 ) - Stock-based compensation 8,011,669 - Issuance of stock for settlement of payable 1,550,000 - Amortization of deferred financing costs (233 ) (7,000 ) Loss on issuance of convertible note 247,000 ) - Change in fair value of derivative liability (1,739,000 ) - Unrealized loss on marketable securities 140,600 - Amortization of debt discount and accrued interest, convertible note 396,434 - Change in deferred discount on notes payable, net 129,246 - Changes in operating assets and liabilities: Accounts receivable (2,429,406 ) (1,959,417 ) Accounts payable and accrued liabilities 49,130 99,500 Accrued expenses (257,625 ) - Accrued interest (16,800 ) 7,268 Deferred revenue 48,303 - Original issuance discount (44,684 ) (26,910 ) Net Cash used in operating activities $ (1,284,193 ) $ 109,542 Cash flow from investing activities: Fixed assets - (3,230 ) Net Cash provided by investing activities $ - $ (3,230 ) Cash flow from financing activities: Proceeds from issuance of senior convertible promissory note 7,560,000 - Less closing costs (585,000 ) - Convertible note original issue discount (OID) (560,000 ) - Proceeds from notes payable 650,000 133,910 Gross payments for convertible promissory note (214,062 ) - Net Cash Provided by financing activities $ 6,850,938 $ 133,910 Net change in Cash and cash equivalents for the year 5,566,745 240,222 Cash and cash equivalents at the beginning of the year 202,524 76,356 Cash and cash equivalents at the end of the year $ 5,769,269 $ 316,578 Supplemental cash flow information: Non-cash investing and financing activities: Initial recognition of derivative liability — convertible note bifurcation 6,415,000 - Marketable securities received as non-cash consideration for marketing services contracts 501,500 - Shares issued for settlement of convertible promissory notes 466,021 - Shares issued for settlement of accounts payable (Hottest Media) 1,550,000 - Shares issued for consulting and advisory services 3,657,500 - Non-cash investing and financing activities: - Cash paid for income taxes - - Cash paid for interest 16,189 - The accompanying notes are an integral part of these consolidated financial statements. F-5 NOTE 1. BUSINESS DESCRIPTION AND NATURE OF OPERATIONS NATURE OF OPERATIONS The Company Eva Live Inc. (the “Company”) was incorporated under the laws of the State of Nevada on August 27, 2002, as International Pit Boss Gaming, Inc. On October 1, 2002, the Company merged with Pro Roads Systems, Inc. (a Florida corporation), a public shell company traded on the pink sheets. Pro Roads Systems, Inc. had no operations before the merger. The purpose of the merger was to change the Company’s domicile from Florida to Nevada. From its inception to 2006, the Company designed and developed software for the gaming industry. The Company changed its name on February 14, 2006, to Logo Industries Corporation and, on November 18, 2008, to Malwin Ventures Inc. On February 11, 2014, the Company announced negotiations with Impact Future Media LLC, and its President/Founder, Francois Garcia, acquired 100% of Impact Future Media LLC and its media and entertainment assets. The Company announced the closing of this transaction on March 25, 2014. From March 2014 to September 28, 2021, the Company was involved in the entertainment, publishing, and interactive industries. On September 28, 2021 (the “Acquisition Date”), the Company merged into EvaMedia Corp. (“EvaMedia”). Upon completion of the reverse merger, the Company acquired all issued and outstanding shares of EvaMedia’s capital stock. As a result, the Company issued 110,192,177 shares of the Company’s common stock to shareholders of EvaMedia, and immediately following the Acquisition, 111,169,525 shares of common stock were issued and outstanding. As a result, EvaMedia’s shareholders control 99.12% of the issued and outstanding shares of the Company on a fully diluted basis. Following the Acquisition, David Boulette of EvaMedia became the company’s CEO, director, and controlling shareholder. He appointed two additional board members from EvaMedia, Phil Aspin and Daryl Walser. Terry Fields remained the only board member of the Company. We deemed EvaMedia as an accounting acquirer based on the following facts: (i) after the reverse merger, former shareholders of EvaMedia held a majority of the voting interest of the combined company; (ii) former Board of Directors of EvaMedia possess majority control of the Board of Directors of the combined company; (iii) members of the management of EvaMedia are responsible for the management of the combined company. As such, we have treated the financial statements of EvaMedia as the historical financial statements of the combined company, and (iv) EvaMedia’s relative size, measured in assets and revenues, is significantly larger than that of the Company. We have identified the Company as the legal acquirer, as it is the entity that issued securities. Comparatively, we have identified EvaMedia as the legal acquiree, the entity whose equity interests are acquired. Since September 28, 2021, the Company has operated at the junction of digital marketing and media monetization. On September 9, 2021, the Company completed a reverse split in the amount of 1-for-150, changed the Company’s name to Eva Live Inc., changed the Company’s trading symbol from “MLWN” to “GOAI,” and executed an Acquisition Agreement resulting in a change of control of the Company . On September 10, 2021, the Financial Industry Regulatory Authority (“FINRA”) announced the effectiveness of a change in the Company’s name from “Malwin Ventures, Inc.” to “Eva Live, Inc.” and a change in the Company’s ticker symbol from “MLWN” to the new trading symbol “GOAI”. Trading under the new ticker symbol began at market opening on July 11, 2021. We execute our business through the Eva Platform based on Artificial Intelligence, or AI, to match advertising campaigns to specific ad spots one at a time. Our system creates conversion mapping tables that allow us to increase conversion rates by analyzing those trends with optimized historical conversion rates and further capitalizing on and improving those rates. We leverage “big data,” an accumulation of data that is too large and complex for traditional database management tools to process. Since more companies are attempting to leverage big data to make strategic business decisions, we have built automated tools that analyze the data and feed the relevant information into our decision logic. We have designed our solution to optimize brand campaigns to create brand awareness and direct response campaigns with a fixed conversion point. Corporate Information The Company’s principal office is The Plaza, 1800 Century Park East, Suite 600. Our telephone number is (310) 229-5981, and our corporate website is www.eva.live. F-6 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation The summary of significant accounting policies presented below is designed to assist in understanding the Company’s financial statements. These financial statements and accompanying notes represent the Company’s management, which is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects. We have applied them consistently to prepare the accompanying financial statements. The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. The results for the three months ended March 31, 2026 and 2025 are not necessarily indicative of the results of operations for the full year. These financial statements and related footnotes should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 16, 2026. Use of Estimates Preparing financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclose contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates in these consolidated financial statements include the allowance for doubtful accou