PCAOB-Registered Firm Issues Unqualified Audit Opinion; Fiscal 2024 Revenue Grew 138%; Operational Loss Narrowed 45%
HOUSTON, TX - April 28, 2026 (NEWMEDIAWIRE) - PickleJar Entertainment Group, Inc. (OTC Pink: PKLE) (“PickleJar” or the “Company”), a music and entertainment software company, today announced the completion of the audit of its financial statements for the fiscal years ended December 31, 2024 and December 31, 2023. The audit, conducted by Astra Audit & Advisory, LLC, a firm registered with the Public Company Accounting Oversight Board (PCAOB), resulted in an unqualified opinion and confirms a year of meaningful operational progress: revenue grew approximately 138% to $557,585 in fiscal 2024, and loss from operations narrowed approximately 45% to $1,537,352. Completion of the audit is also a foundational step in PickleJar’s stated objective of becoming a fully reporting issuer with the U.S. Securities and Exchange Commission. No assurance can be given regarding the timing or completion of any such registration.
Selected Fiscal Year 2024 Results (Audited)
- Total revenue of $557,585, compared with $233,762 for fiscal 2023 - an increase of approximately 138% year-over-year.
- Gross profit of $405,483, compared with $155,155 for fiscal 2023.
- Loss from operations of $1,537,352, compared with $2,786,231 for fiscal 2023 - an improvement of approximately 45%.
- Net loss of $1,975,754, compared with net income of $1,206,415 for fiscal 2023 (which included a non-cash gain of approximately $4.4 million on the fair-value remeasurement of Simple Agreements for Future Equity in connection with the November 2023 reverse recapitalization, and is not indicative of operating performance).
- Accumulated deficit of $6,046,945 and working capital deficit of $6,331,207 as of December 31, 2024.
The full audited financial statements, including the report of the Independent Registered Public Accounting Firm and accompanying footnotes, are available on the OTC Markets Disclosure & News Service and at investors.picklejar.com.
Statement from the Chief Executive Officer
“Completing a PCAOB audit of two full fiscal years is a meaningful milestone for PickleJar,” said Jeff James, Chief Executive Officer. “It gives our investors, our label and distribution partners, and our commercial counterparties a common, independently verified set of facts to work from. We are proud of the operational progress reflected in these results, and we are clear-eyed about the work ahead - strengthening internal controls, addressing near-term liquidity, and executing toward SEC-reporting status. We intend to do that work transparently and deliberately.”
About PickleJar Entertainment Group, Inc.
PickleJar Entertainment Group, Inc. (OTC Pink: PKLE) is a music and entertainment software company that develops integrated software and services connecting fans with emerging artists, mid-sized venues, and global brands. PickleJar’s platform combines secure payment technology, data intelligence, and content distribution to support artist promotion programs, venue-managed services, and related fan-engagement capabilities. The Company is headquartered in Houston, Texas. For more information, visit picklejar.com.
Additional Disclosures from the Audited Financial Statements
As disclosed in Note 2 to the audited financial statements, recurring operating losses, accumulated and working-capital deficits, and certain notes payable at or past their stated maturity dates as of December 31, 2024 give rise to substantial doubt about PickleJar’s ability to continue as a going concern for one year from the date the financial statements were issued. Management’s plans to address these conditions include obtaining additional financing and extending, restructuring, or converting existing obligations. Investors are encouraged to review the audited financial statements in their entirety, including disclosures regarding the Company’s revolving credit facility, related-party transactions, and subsequent events.
In connection with the audit, PickleJar is implementing a remediation plan to address material weaknesses in internal control over financial reporting. The plan includes expanding financial reporting resources through additional personnel and qualified external specialists, formalizing policies and procedures, strengthening journal-entry review and approval, enhancing monitoring activities, and improving information technology general controls. The material weaknesses, which relate to the design and operation of a control environment commensurate with SEC-registrant requirements, are described in the audited financial statements. Remediation is expected to occur over multiple reporting periods.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and is intended to qualify for the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “anticipate,” “believe,” “expect,” “intend,” “plan,” “project,” “will,” “would,” and similar expressions, and include, without limitation, statements regarding PickleJar’s strategy and growth plans; the Company’s objective of becoming a fully reporting issuer with the SEC and the timing and outcome of any such registration; the Company’s ability to remediate identified material weaknesses in internal control over financial reporting and the timing of such remediation; the Company’s ability to continue as a going concern, to obtain additional financing, and to extend, restructure, convert, or otherwise resolve existing obligations, including obligations in default; the Company’s ability to develop profitable operations; and any other statements that are not historical facts.
Forward-looking statements are based on management’s current expectations and assumptions and are subject to significant risks, uncertainties, and changes in circumstances that could cause actual results to differ materially. These risks include, without limitation: substantial doubt about the Company’s ability to continue as a going concern; the existence of material weaknesses in internal control over financial reporting; recurring net losses and negative cash flow from operations; reliance on related-party financing; the existence of indebtedness in default and the absence of executed extensions, waivers, or restructurings as of the date the audited financial statements were issued; the Company’s working capital deficit; risks associated with the Company’s revolving credit facility, including the previously disclosed event of default; concentration of beneficial ownership; and the other risks described in the audited financial statements and accompanying footnotes. Readers are cautioned not to place undue reliance on any forward-looking statement, which speaks only as of the date made. PickleJar undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
Contact:
Anna Benson
Anna@picklejar.com
View the original release on www.newmediawire.com
