Mon, Aug 19, 6:49 PM (148 days ago)
For the quarter ending June 30, 2024, Sigyn Therapeutics, Inc. reported no revenues, maintaining a net loss of $862,383, compared to a loss of $723,124 in the same quarter of 2023. Operating expenses rose to $602,805, driven primarily by increased research and development costs. The company’s total assets decreased slightly to $320,165, while total liabilities rose to $3,992,306, resulting in a stockholders' deficit of $3,672,141. Cash flow from operations showed improvement, with a net usage of $418,406 for the first half of 2024, down from $891,267 in 2023. The company continues to face significant financial uncertainty, with an accumulated deficit of $12,961,983 and a working capital deficit of $3,753,241. Management aims to raise additional funds through public offerings or asset sales to sustain operations. The ongoing development of their lead product, Sigyn Therapy, and other therapeutic technologies remains contingent on securing FDA approvals and additional capital.