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Organization and Business Operations
3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Business Operations

Note 1 - Organization and Business Operations

 

SRM Entertainment, Inc. (“SRM Inc”) is a Nevada corporation, listed and traded on NASDAQ, headquartered in Florida and was incorporated on April 22, 2022. SRM. Entertainment Limited (“SRM Ltd”), a wholly-owned subsidiary, is a limited company incorporated in Hong Kong, on January 23, 1981. The combined SRM Inc and SRM Ltd are collectively referred to as the Company.

 

The Company’s principal business is the design, manufacture, and sale of toys to premier theme parks.

 

Going Concern Consideration

 

As of March 31, 2025, and December 31, 2024, the Company had accumulated deficits of $6,343,827 and $5,697,241, respectively and cash flow used in operations of $206,514 and $2,856,359, respectively for the three months ended March 31, 2025, and year ended December 31, 2024. The Company has incurred and expects to continue to incur significant costs in pursuit of its expansion and development plans. At March 31, 2025, and December 31, 2024, the Company had $895,930 and $1,352,373, respectively, in cash and working capital of $2,202,541 and $2,446,105 respectively. These conditions have raised doubt about the Company’s ability to continue as a going concern as noted by our auditors, M&K CPAS, PLLC.