10-Q - INTERNET SCIENCES INC. (0001720286) (Filer)

Wed, May 15, 5:10 PM (8 days ago)

Internet Sciences Inc. reported a net loss of $16,502 for Q1 2024, an improvement from the $42,778 loss in Q1 2023. The decrease in net loss is attributed to lower stock-based compensation and professional fees. The company remains in its early stages, with no revenues generated in either quarter. Operating expenses decreased from $42,778 in Q1 2023 to $16,502 in Q1 2024. The company’s cash balance was $211 as of March 31, 2024, compared to $28,385 at year-end 2023. The working capital deficit increased to $98,935 from $52,207. Financing activities provided $14,222 during Q1 2024, primarily from stock issuance and CEO advances. The company continues to face significant uncertainties and will need additional capital to sustain operations.