Mon, Nov 18, 6:48 PM (55 days ago)
**RetinalGenix Technologies Inc. (RTGN) - Q3 2024 Summary** For the quarter ending September 30, 2024, RetinalGenix Technologies reported no revenue, maintaining a consistent trend since inception. Operating expenses totaled $643,331, down 6% from $685,507 in Q3 2023. General and administrative expenses surged 46% to $244,098, driven by increased allocations from Sanovas and legal costs. Research and development expenses rose modestly by 15% to $102,977, reflecting ongoing prototype development. Net loss for the quarter was $644,291, slightly improved from a loss of $686,467 in Q3 2023. For the nine months ended September 30, 2024, cumulative losses reached $3,453,800, raising concerns about the company’s financial viability. Cash at period-end was $79,089 against liabilities of $1,943,168, indicating liquidity challenges. The company anticipates needing $12.2 million to advance product development and regulatory submissions. Future revenue generation remains uncertain, with no products currently approved for sale. The report highlights significant reliance on related party financing and ongoing efforts to secure additional capital amid substantial operational uncertainties.