Wed, May 15, 10:18 AM (205 days ago)
Nu-Med Plus, Inc. reported a net loss of $21,826 for Q1 2024, a slight improvement from a net loss of $28,204 in Q1 2023. The company has no revenue and operating expenses decreased to $20,579 from $26,971, primarily due to reduced professional fees and rent expenses. Cash flow from operations was negative, with a minor decrease in cash from $6,806 to $6,356. The company’s working capital deficit stands at $168,577. A significant event includes a merger with YourSpace America, Inc. (YSA), making YSA a wholly-owned subsidiary. The merger involves issuing Series A and Series X Preferred Stock to YSA shareholders, with Series X giving majority voting control to YSA's CEO. Nu-Med's ongoing viability is uncertain, relying heavily on external funding for operations and product development. The company is seeking $1.2 million in financing to continue its operations and product development over the next year.