Thu, Nov 14, 4:40 PM (236 days ago)
For the quarter ended September 30, 2024, BioRegenx, Inc. (ticker: BRGX) reported significant financial challenges. Revenues fell 25% year-over-year to $596,037, driven by product issues with their medical testing machines, resulting in a net loss of $394,860, an 84% improvement compared to a loss of $2,519,035 in the same quarter last year. Operating expenses decreased by 73% to $808,955, primarily due to lower distributor incentives and reduced equity compensation costs. Total assets surged to $17,361,364 from $865,750, primarily due to acquisitions, including DocSun Biomedical Holdings. However, liabilities also increased significantly, with current liabilities totaling $3,518,334. The company has a working capital deficit of $3,147,295 and $522,500 in default loans, raising substantial doubt about its ability to continue as a going concern. Cash flow from operations was negative at $312,787, though financing activities provided $449,063. The company is focused on raising additional capital to sustain operations but faces uncertainties regarding future financing availability.