RIME
RIMECIK 0000923601
Micro
Revenue $4M
Assets $19M
as of Oct 11, 2026
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8-K
Filed Sep 23, 2026
· Period ending Sep 21, 2026
Summary not yet generated.
8-K
Filed Sep 21, 2026
· Period ending Sep 15, 2026
Summary not yet generated.
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10-Q
Filed Aug 14, 2026
· Period ending Jun 30, 2026
Summary not yet generated.
8-K
Filed Jul 24, 2026
· Period ending Jul 21, 2026
Summary not yet generated.
8-K
Filed Jul 2, 2026
· Period ending Jun 29, 2026
Summary not yet generated.
8-K
Filed Jun 22, 2026
· Period ending Jun 16, 2026
Summary not yet generated.
8-K
Filed Jun 18, 2026
· Period ending Jun 16, 2026
Summary not yet generated.
S-1/A
Filed May 27, 2026
Red flag
RIME registers up to 10M shares for resale by Streeterville; company gets no proceeds
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Latest financial statements
From 10-Q filed Aug 14, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Net Sales | 3,005,000 | 1,152,000 | 5,405,000 | 1,275,000 |
| Cost of Sales | 3,598,000 | 1,492,000 | 6,675,000 | 1,621,000 |
| Gross Loss | (593,000) | (340,000) | (1,270,000) | (346,000) |
| Operating Expenses | ||||
| Selling expenses | 49,000 | - | 82,000 | - |
| General and administrative expenses | 2,059,000 | 868,000 | 5,693,000 | 1,924,000 |
| Total Operating Expenses | 2,108,000 | 868,000 | 5,775,000 | 1,924,000 |
| Loss From Operations | (2,701,000) | (1,208,000) | (7,045,000) | (2,270,000) |
| Other Expenses | ||||
| Change in fair value of warrant liability | - | - | - | (6,468,000) |
| Loss on debt extinguishment | (400,000) | - | (400,000) | - |
| Interest expense, net | (1,045,000) | (27,000) | (2,081,000) | (43,000) |
| Total Other Expenses | (1,445,000) | (27,000) | (2,481,000) | (6,511,000) |
| Loss From Continuing Operations Before Income Tax | (4,146,000) | (1,235,000) | (9,526,000) | (8,781,000) |
| Income tax loss attributable to continuing operations | (3,000) | - | (3,000) | - |
| Net Loss From Continuing Operations | (4,149,000) | (1,235,000) | (9,529,000) | (8,781,000) |
| Net loss from discontinued operations | - | 426,000 | - | (1,322,000) |
| Net Loss | (4,149,000) | (809,000) | (9,529,000) | (10,103,000) |
| Net loss attributable to non-controlling interest | 320,000 | 224,000 | 594,000 | 327,000 |
| Net Loss Available to Common Shareholders | (3,829,000) | (585,000) | (8,935,000) | (9,776,000) |
| Loss Per Common Share | ||||
| Basic and diluted from continuing operations | (0.25) | (0.41) | (0.71) | (3.80) |
| Basic and diluted from discontinued operations | - | 0.17 | - | (0.59) |
| Basic and diluted | (0.25) | (0.24) | (0.71) | (4.40) |
| Weighted Average Common and Common Equivalent Shares: | ||||
| Basic and diluted | 15,148,297 | 2,472,464 | 12,537,525 | 2,224,047 |
Condensed Consolidated Balance Sheets
| Description | June 30, 2026 (unaudited) | December 31, 2025 |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash | 4,972,000 | 1,632,000 |
| Restricted cash | 2,983,000 | 4,514,000 |
| Accounts receivable, net of allowances of $0 and $113,000, respectively | 1,444,000 | 1,061,000 |
| Prepaid expenses and other current assets | 3,988,000 | 729,000 |
| Total Current Assets | 13,387,000 | 7,936,000 |
| Property and equipment, net | 36,000 | 22,000 |
| Operating lease- right of use assets | 304,000 | - |
| Other non-current assets | 95,000 | 79,000 |
| Intangible assets, net | 2,064,000 | 2,005,000 |
| Goodwill | 2,682,000 | 2,682,000 |
| Total Assets | 18,568,000 | 12,724,000 |
| Liabilities and Shareholders’ Equity | ||
| Current Liabilities | ||
| Accounts payable | 2,229,000 | 1,413,000 |
| Accrued expenses | 3,106,000 | 1,556,000 |
| Other current liabilities | 756,000 | 69,000 |
| Current portion of operating lease liabilities | 90,000 | - |
| Promissory notes payable, net | 6,413,000 | 9,102,000 |
| Notes payable to related parties | 2,300,000 | 2,300,000 |
| Total Current Liabilities | 14,894,000 | 14,440,000 |
| Operating lease liabities, net of current portion | 216,000 | - |
| Long-term provision for employee benefits | 178,000 | 144,000 |
| Total Liabilities | 15,288,000 | 14,584,000 |
| Commitments and Contingencies | ||
| Shareholders’ Equity (Deficit) | ||
| Preferred stock, $1.00 par value; 1,000,000 shares authorized; 3,500 and -0- shares issued and outstanding at June 30, 2026 and December 31, 2025 | 4,000 | - |
| Common stock, $0.01 par value; 800,000,000 and 100,000,000 shares authorized; 15,670,768 and 3,414,542 shares issued and outstanding at June 30, 2026 and December 31, 2025 | 157,000 | 35,000 |
| Additional paid-in capital | 80,210,000 | 65,674,000 |
| Accumulated other comprehensive loss | (19,000) | (25,000) |
| Accumulated deficit | (73,978,000) | (65,043,000) |
| Non-controlling interest | (2,336,000) | (1,743,000) |
| Treasury stock, 10,990 shares reserved at June 30, 2026 and December 31, 2025 | (758,000) | (758,000) |
| Total Shareholders’ Equity (Deficit) | 3,280,000 | (1,860,000) |
| Total Liabilities and Shareholders’ Equity (Deficit) | 18,568,000 | 12,724,000 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net loss from continuing operations | (9,529,000) | (8,781,000) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Net foreign currency translation adjustment | 7,000 | - |
| Depreciation and amortization of property and equipment and intangible assets | 194,000 | 31,000 |
| Amortization of debt discount and issuance cost | 1,482,000 | - |
| Reduction in SMCB loan in exchange for services | - | 304,000 |
| Gain on allowance for credit loss | - | (439,000) |
| Change in fair value of warrant liability | - | 6,468,000 |
| Loss on debt extinguishment | 400,000 | - |
| Stock-based compensation | 1,119,000 | 47,000 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (383,000) | (584,000) |
| Prepaid expenses and other current assets | (3,259,000) | (713,000) |
| Other non-current assets | (16,000) | 446,000 |
| Accounts payable | 816,000 | (224,000) |
| Accrued expenses | 1,854,000 | 141,000 |
| Other current liabilities | 687,000 | 198,000 |
| Operating lease liabilities | 2,000 | - |
| Provision for employee benefits | 34,000 | - |
| Net cash used in operating activities attributable to continuing operations | (6,592,000) | (3,106,000) |
| Cash flows from investing activities | ||
| Purchase of property and equipment | (19,000) | (7,000) |
| Capitalization of internal use software costs | (248,000) | - |
| Repurchase of shares of common stock | - | (758,000) |
| Cash received from acquisition of SMCB | - | 593,000 |
| Advances to SMCB | - | (1,172,000) |
| Net cash used in investing activities attributable to continuing operations | (267,000) | (1,344,000) |
| Cash flows from financing activities | ||
| Proceeds from issuance of promissory notes, net of offering costs and discounts | 9,020,000 | 379,000 |
| Payment of promissory notes | (352,000) | - |
| Net cash provided by financing activities attributable to continuing operations | 8,668,000 | 379,000 |
| Net cash used in operating activities attributable to discontinued operations | - | (2,013,000) |
| Net cash provided by investing activities attributable to discontinued operations | - | (15,000) |
| Net cash provided by financing activities attributable to discontinued operations | - | - |
| Total cash used in discontinued operations | - | (2,028,000) |
| Net change in cash | 1,809,000 | (6,099,000) |
| Cash and restricted cash at beginning of period | 6,146,000 | 7,233,000 |
| Cash and restricted cash at end of period | 7,955,000 | 1,134,000 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | 18,000 | 43,000 |
| Non-cash investing and financing cash flow information: | ||
| Common stock issued upon settlement of prepaid purchases | 10,043,000 | - |
| Exchange of partitioned pre-paid purchase for Series A preferred stock | 3,500,000 | - |
| Right of use assets obtained in exchange for new operating lease liabilities | 333,000 | - |
| Reclassification of Series A warrants to equity | - | 7,857,000 |
| Common stock issued for exercise of Series B warrants | - | 15,214,000 |
| Common stock issued for acquisition of SMCB | - | 316,000 |
| Promissory note issued for acquisition of SMCB | - | 1,750,000 |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗