Thu, Nov 14, 6:58 PM (59 days ago)
**REMSLEEP HOLDINGS, INC. (RMSL) - Q3 2024 Summary** For the quarter ending September 30, 2024, REMSleep Holdings, Inc. reported a revenue decline to $37,260 from $51,947 in Q3 2023, attributed to selling below cost to liquidate inventory. Gross margin fell to -$21,300 due to increased cost of goods sold (COGS) of $58,560. Operating expenses decreased significantly to $172,815 from $273,334, driven by lower professional fees and general administrative costs, but compensation and development expenses surged, reflecting ongoing product development for the DeltaWave CPAP interface. Net loss for Q3 2024 was $277,909, slightly higher than the $270,433 loss in Q3 2023. Cash flow from operations showed improvement, with $537,686 used in the first nine months of 2024, down from $617,739 in 2023. The company holds current assets of $597,615, including cash of $534,714, while liabilities decreased to $176,493. Concerns regarding the company's ability to continue as a going concern persist, exacerbated by an accumulated deficit of $14,948,847 and reliance on future capital raises. The FDA approved the DeltaWave product in July 2024, with expected market readiness in Q4 2024, indicating potential for future revenue generation.