Organizational History of the Company and Overview

Corporate History

American Picture House Corporation (APHP) was incorporated in Nevada on September 21, 2005 under the name Servinational, Inc. The company has undergone several name changes over the years, including Shikisai International, Inc. in November 2005 and Life Design Station, Intl., Inc. in August 2007. In October 2020, the company changed its state of domicile from Nevada to Wyoming. On December 4, 2020, the company changed its name to the current American Picture House Corporation.

In October 2021, the company’s board of directors approved a 50:1 reverse stock split. In September 2021, the company also amended its articles of incorporation to reduce the number of authorized common shares from 4.7 billion to 1 billion.

On October 16, 2024, shareholders approved the company’s Second Amended and Restated Articles of Incorporation, which granted the board of directors the authority to designate and issue additional classes of preferred stock without shareholder approval. As of May 13, 2025, the company has 1 billion common shares authorized and 1 million preferred shares authorized, of which 3,839 Series A Convertible Preferred shares are currently issued and outstanding.

Business Overview

APHP aims to become a premier entertainment company focused on developing, financing, and producing feature films, limited series, and content-driven technologies. The company has pivoted away from providing independent consulting services to the entertainment industry and is now concentrating exclusively on internal content development and strategic partnerships.

APHP specializes in mid-budget productions, where the majority of the production budget can be secured against the project’s intellectual property, licensing agreements, incentive programs, tax credits, and grants. The company’s strategy is to acquire or option valuable entertainment assets at a reduced upfront cost and then leverage its experience, industry relationships, and financial acumen to transform dormant or undervalued IP into market-ready content.

Organizational Structure

APHP currently has no employees and is managed by its officers, including CEO Bannor Michael MacGregor, President Jonathan Sanger, Secretary Michael Blanchard, and Treasurer Daniel Hirsch. The company maintains virtual offices in New York, Raleigh, and Los Angeles.

Financial Performance

The following table summarizes APHP’s results of operations for the first quarter of 2025 compared to the first quarter of 2024:

Metric	Q1 2025	Q1 2024	Change
Revenues	$0	$23,003	$(23,003)
Cost of Revenues	$0	$0	$0
Gross Profit	$0	$23,003	$(23,003)
Operating Expenses
- General & Administrative	$475,457	$1,501,932	$(1,026,475)
- Sales & Marketing	$461	$13,975	$(13,514)
Total Operating Expenses	$475,918	$1,515,907	$(1,039,989)
Net Operating Income (Loss)	$(475,918)	$(1,492,904)	$1,016,986
Other Income (Expenses)
- Interest Income	$0	$102	$(102)
- Interest Expense	$(12,919)	$(3,185)	$(9,734)
Net Other Income (Expenses)	$(12,919)	$(3,083)	$(9,836)
Net Income (Loss)	$(488,837)	$(1,495,987)	$1,007,150

APHP had no revenues in Q1 2025 compared to $23,003 in Q1 2024. Operating expenses decreased by over $1 million, primarily due to a reduction in stock option expense. The company incurred a net loss of $488,837 in Q1 2025, an improvement from the $1.5 million net loss in Q1 2024.

Liquidity and Capital Resources

APHP faces significant liquidity challenges, with an accumulated deficit of $7.8 million and negligible cash as of March 31, 2025. The company used $155,000 in cash for operations in Q1 2025 and was not able to meet its current obligations as they became due.

To address these concerns, APHP plans to seek additional funding sources, such as a short-term bridge loan, a medium-term credit line, and a significant longer-term financial raise. The company has also reduced operating costs, but there is no assurance these efforts will be successful. The company has concluded that substantial doubt exists about its ability to continue as a going concern through the next 12 months.

Outlook and Conclusion

APHP’s pivot towards internal content development and strategic partnerships in the entertainment industry shows promise, but the company’s financial position remains precarious. The company’s focus on mid-budget productions with a sophisticated financial approach could position it for success, but its ability to execute on this strategy is heavily dependent on its ability to secure additional funding. Overcoming the company’s liquidity challenges will be critical to its long-term viability and growth.