Fri, Aug 16, 10:08 AM (151 days ago)
Coeptis Therapeutics Holdings, Inc. filed an amended 10-Q for Q1 2024, reflecting a reclassification of subscription receivables due to accounting evaluations. As of March 31, 2024, total assets decreased to $3,894,321 from $4,571,089, primarily due to a reduction in cash and an increase in current liabilities, which rose to $4,301,402. The company reported a net loss of $3,001,388, a significant reduction from $7,957,833 in Q1 2023, attributed to decreased operating expenses, particularly in professional services. Cash flow from operations showed a net outflow of $1,902,390, indicating ongoing liquidity challenges. The firm continues to seek additional capital to support product development and operational costs. The accumulated deficit reached $90,357,648, raising concerns about the company's ability to maintain operations without further financing. The report highlights uncertainties in revenue generation and operational viability amid ongoing strategic partnerships and product development initiatives. Future performance remains contingent on successful fundraising and product commercialization efforts.