Thu, Jul 3, 8:10 PM (11 days ago)
**Summary of Integral Technologies, Inc. (ITKG) Q3 2024 Financial Performance** **Revenue & Profit Margins:** - Revenue: $0 (Q3 2023: $6,655) - Operating Expenses: $71,509 (Q3 2023: $68,382) - Net Loss: $152,834 (Q3 2023: Net Income $3,366,349) - Loss per share: $0.00 (Q3 2023: $0.01) **Cash Flow:** - Net cash used in operating activities: $10,519 (Q3 2023: $12,518) - Net cash provided by financing activities: $10,000 (Q3 2023: -$2,300) - Cash at period end: $1,350 (Q3 2023: $7,306) **Earnings Changes & Trends:** - Significant decrease in net income due to absence of gain on troubled debt restructure and extinguishment of preferred share obligations recognized in Q3 2023. - Increase in operating expenses and interest expense. **Uncertainties & Future Operations:** - Going concern uncertainties due to lack of revenue, increasing debt, and reliance on loans. - Management plans to seek a business combination to secure funding and continue operations. - Substantial doubt about the ability to continue as a going concern. **Segment Performance:** - Two reportable segments: "Bring Reporting Current" and "Pivotal". - "Bring Reporting Current" focuses on catching up on filings and maintaining issuer status. - "Pivotal" was discontinued in the prior year. **Debt & Liabilities:** - Total liabilities: $7,129,836 (Q3 2023: $6,977,521) - Notes payable and accrued interest: $4,259,865 (Q3 2023: $4,168,540) - Related party payable: $1,146,333 (Q3 2023: $1,108,708) **Stockholders' Deficit:** - Total stockholders' deficit: $7,128,486 (Q3 2023: $6,975,652) - Accumulated deficit: $68,647,310 (Q3 2023: $68,008,710) **Future Outlook:** - Management intends to raise additional capital through stock and debt issuances. - Success depends on securing a suitable business combination. - Risks include inability to locate compatible business opportunities and generate material revenue. **Ticker:** ITKG