Mon, Apr 14, 8:38 PM (13 days ago)
**Summary of REMSleep Holdings, Inc. (RMSL) 10-K for the fiscal year ended December 31, 2024** **Financial Performance:** - **Revenue:** $117,185 (2024) vs. $203,718 (2023) - **Net Income:** Net loss of $1,077,997 (2024) vs. net loss of $1,777,838 (2023) - **Operating Expenses:** $811,586 (2024) vs. $1,014,903 (2023) - **Earnings per Share:** $0.00 (2024 and 2023) **Strategic Overview:** - Focus on developing and commercializing innovative sleep apnea solutions. - Key product: DeltaWave CPAP interface, designed for better comfort and compliance. - Received FDA 510(k) approval for DeltaWave on July 2, 2024. **Future Outlook:** - Plans to conduct clinical trials for DeltaWave. - Aims to capture 10% of the sleep apnea market in the next 12 months. - Continued reliance on debt and equity financing for operations. **Risk Factors:** - Dependence on adequate financing for operations and product development. - Competition from larger, better-capitalized companies. - Regulatory challenges and compliance with FDA standards. **Financial Condition:** - **Cash Flow:** Negative cash flow from operations ($683,057 in 2024). - **Liabilities:** Significant liabilities including convertible notes and operating leases. - **Stockholders' Equity:** Negative equity of $15,270,756 as of December 31, 2024. **Market Position:** - Trades on OTC Markets Group, OTCPINK tier under the symbol "RMSL". - Market capitalization based on 1,523,620,126 outstanding shares. **Changes in Market Position:** - No significant changes in market position reported. - Continued efforts to secure additional financing and develop products. **Other Notable Points:** - The company has identified material weaknesses in internal controls over financial reporting. - The board of directors oversees risk management, including cybersecurity and compliance. - The company has not adopted a code of ethics due to its limited size.