Wed, Aug 21, 9:28 PM (146 days ago)
For the quarter ending June 30, 2024, Nu-Med Plus, Inc. reported no revenue, maintaining a trend of no sales as it remains in the product development phase. Operating expenses decreased to $16,040 from $23,073 in the prior year, primarily due to reduced professional fees and rent. The net loss for the quarter was $17,287, an improvement from a loss of $24,320 in Q2 2023. For the six-month period, expenses totaled $36,619 compared to $50,045 in 2023, with a net loss of $39,112 versus $52,524 last year. As of June 30, 2024, the company had total assets of $11,041, primarily cash and prepaid expenses, against liabilities of $196,905, resulting in a working capital deficiency of $185,863. The company anticipates needing $1.2 million in funding over the next year to support operations and product development. A significant development is the pending merger with YourSpace America, which is contingent upon completing an audit. The company highlights ongoing financing challenges and the necessity for external capital to continue operations and advance product development.