Wed, Sep 25, 10:03 AM (87 days ago)
For the quarter ended June 30, 2024, Agentix Corp reported no revenue, reflecting ongoing financial challenges. The company incurred a net loss of $150,717, a notable decrease from a loss of $409,558 in the same quarter of the previous year, attributed to reduced operating expenses across professional fees, research and development, and general administrative costs. Cash reserves increased to $9,072 from $6,535, but liabilities rose to $2,892,948, indicating a concerning liquidity position. The accumulated deficit expanded to $6,105,197, raising substantial doubt about the company's ability to continue as a going concern. Management highlighted the necessity for additional financing to sustain operations, with potential funding through equity or debt, both posing risks of dilution or unfavorable terms for existing shareholders. The company also experienced a foreign exchange gain, contrasting with previous losses, reflecting currency volatility impacts. Looking forward, the absence of revenue and reliance on external funding underscore significant operational uncertainties.