Mon, Aug 19, 5:19 PM (148 days ago)
For the quarter ending June 30, 2024, Manhattan Scientifics, Inc. reported no revenue, continuing a trend from the previous year. Total operating expenses decreased to $160,000 from $186,000, primarily due to lower general and administrative costs. The net loss for the quarter was $158,000, an improvement from the $229,000 loss in the same period last year. For the six months ended June 30, 2024, the net loss was $540,000, down from $649,000 in 2023. Cash and cash equivalents fell to $38,000 from $67,000, reflecting ongoing liquidity challenges. The company has a working capital deficit of $2,371,000 and an accumulated deficit of $72,955,000, raising substantial doubt about its ability to continue as a going concern without additional financing. The company plans to seek further capital through technology licensing and other services. Investment in equity securities significantly decreased in value, with a fair market value of $27,000 as of June 30, 2024, down from $245,000 at year-end 2023. The company's financial position remains precarious, with a need for strategic financial management to address ongoing operational costs and potential funding gaps.