Fri, Aug 30, 8:15 PM (137 days ago)
Agentix Corp. reported no revenue for the fiscal years ending March 31, 2024, and 2023, with a net loss of $585,154 compared to $1,373,805 the previous year. Operating expenses decreased to $744,810 from $1,371,756, primarily due to lower professional fees and R&D costs, which fell to $175,268 from $711,506. The company received R&D credits of $198,371 in 2024, a new development compared to the prior year. As of March 31, 2024, total liabilities increased to $2,666,594, with significant amounts owed to related parties. The company's cash position was low at $6,535, raising concerns about its ability to continue operations without additional funding. The company plans to raise funds through equity or debt financing, which may dilute existing shareholder interests. Strategically, Agentix focuses on developing therapeutics for metabolic diseases, with two key assets—AGTX-2004 and AGTX-2003—currently under development. However, the company lacks a functioning audit committee, which may hinder effective oversight and internal controls. The future outlook remains uncertain, contingent on successful fundraising and clinical development efforts.