Fri, Aug 16, 10:07 AM (151 days ago)
Coeptis Therapeutics Holdings, Inc. reported a significant decline in financial health for the quarter ending September 30, 2023, as reflected in its amended 10-Q/A. The company recorded no revenue, consistent with the previous year, while total operating expenses increased to $7,921,020 from $5,568,709, primarily due to heightened research and development costs linked to recent asset acquisitions. The net loss for the quarter was $6,350,494, showing a slight increase from $5,648,709 in the prior year. Cash reserves dwindled to $1,411,510 from $3,791,302 at the end of the previous fiscal year. Current liabilities rose to $2,234,796, driven by increased accounts payable and accrued expenses. The company’s total assets were reported at $4,670,767, down from $7,915,689, reflecting the reclassification of subscriptions receivable. Management cited ongoing uncertainties in revenue generation and cash flow, emphasizing the need for additional capital to sustain operations and fund future development initiatives. The company remains focused on strategic partnerships and product development in the oncology and autoimmune sectors.