Mon, May 19, 12:05 PM (36 days ago)
**Cyber Enviro-Tech, Inc. (CYET) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** CYET reported no revenue for Q1 2025, consistent with Q1 2024. - **Profit Margins:** The company reported a net loss of $1,148,081 for Q1 2025, compared to a net loss of $1,120,172 in Q1 2024. - **Cash Flow:** Net cash from operating activities was negative $1,020,863 for Q1 2025, compared to negative $554,953 in Q1 2024. The company raised $1,149,662 from financing activities, primarily through convertible notes payable. - **Earnings Changes:** The net loss per share was $0.01 for both Q1 2025 and Q1 2024. **Key Metrics and Trends:** - **Operating Expenses:** Total operating expenses decreased by 14% to $884,957 in Q1 2025 from $1,023,999 in Q1 2024. This was driven by a 45% decrease in general and administrative expenses and a 10% decrease in consulting fees. - **Other Income (Expense):** The company reported a net other expense of $181,850 in Q1 2025, compared to $84,361 in Q1 2024. This was primarily due to a $227,226 decrease in the fair value of derivatives and a $170,571 increase in interest expense. - **Discontinued Operations:** The company reported a loss from discontinued operations of $81,274 in Q1 2025, compared to $11,812 in Q1 2024. This is related to the planned spin-off of the Alvey oil field. **Uncertainties and Future Operations:** - **Liquidity:** CYET has significant liabilities, including $2,473,059 in current liabilities and $1,866,847 in long-term liabilities. The company's ability to continue as a going concern is dependent on generating profitable operations and obtaining necessary financing. - **Funding:** CYET is in the process of filing an S-1 registration statement to raise funds through the sale of common stock. The company has also raised $1,230,500 in new money from investors since March 31, 2025. - **Spin-off:** The company plans to spin off the Alvey oil field into a new entity, Phoenix Well Development Inc, in the second quarter of 2025. - **Legal Proceedings:** The company is involved in a lawsuit regarding a potential purchase of a saltwater disposal facility. The outcome is undetermined, but the company believes its counterclaims will exceed the plaintiff's claims. **Conclusion:** CYET continues to face significant financial challenges, with no revenue and substantial losses. The company's strategy to address these challenges includes spinning off the Alvey oil field, raising funds through the sale of common stock, and obtaining additional financing. However, there are no assurances that such additional funding will be achieved, and the company's future operations remain uncertain.