Tue, Mar 25, 9:15 PM (35 days ago)
**Nocopi Technologies, Inc. (NNUP) Financial Summary** **Financial Performance:** - **Revenue:** $2,117,800 (2024), up 2% from $2,083,900 (2023). - **Net Income:** Net loss of $2,678,900 (2024), compared to a net loss of $1,435,900 (2023). - **Gross Profit:** $1,100,300 (2024), down slightly from $1,101,900 (2023). - **Operating Expenses:** Increased significantly, with general and administrative expenses rising to $3,900,000 (2024) from $2,538,300 (2023). **Earnings per Share:** Basic and diluted loss per share was $0.25 (2024) compared to $0.15 (2023). **Strategic Overview:** - **Markets:** Focus on educational and toy products, and document/authentication industries. - **Products:** Specialty inks for entertainment, security, and anti-counterfeiting. - **Growth Strategy:** Expand through acquisitions and new licensing agreements. **Future Outlook:** - **Revenue Growth:** Plans to expand licensee base and increase ink production. - **Market Position:** Aims to leverage patented technologies and strategic acquisitions. **Risk Factors:** - **Customer Dependence:** High reliance on a few major customers. - **Economic Conditions:** Vulnerable to economic downturns and geopolitical instability. - **Operational Risks:** Dependence on key suppliers and potential disruptions. **Financial Condition:** - **Cash Position:** Increased to $10,839,700 (2024) from $2,269,200 (2023). - **Working Capital:** $12,388,300 (2024). - **Stockholders' Equity:** $13,639,800 (2024). **Market Position Changes:** - **Customer Concentration:** Two major customers accounted for 88% of revenue (2024). - **Geographic Revenue:** 77% of revenue from international markets (2024). **Amendment Summary:** - **Lease Amendment:** Extended lease term to December 31, 2027, with annual rent escalations. - **Impact:** Provides operational stability and predictable costs.