Thu, Nov 14, 7:40 PM (59 days ago)
Nu-Med Plus, Inc. (NMP) reported no revenue for the quarter ending September 30, 2024, maintaining a net loss of $18,677, compared to a loss of $16,406 in the same period in 2023. For the nine months ending September 30, 2024, the net loss was $57,790, an improvement from $68,930 in 2023. Operating expenses for the quarter increased to $17,417, primarily due to higher professional fees. As of September 30, 2024, total assets were $6,841, with current liabilities at $211,382, leading to a working capital deficiency of $204,541. The company has suspended product development until it secures additional funding, estimated at $1.2 million for the next year. Significant uncertainties regarding future operations persist, especially after the termination of a merger agreement with YourSpace America, which may impact the company's ability to raise capital. Management emphasizes the need for continued reliance on shareholder loans and stock sales to sustain operations. The company continues to develop nitric oxide delivery systems but has not yet achieved FDA approval for any products.