Wed, Jul 10, 7:04 PM (59 days ago)
Stemtech Corporation's 2023 10-K filing reveals a mixed financial performance. The company's net sales increased to $4,921,531 from $4,559,399 in 2022, attributed to a rise in independent business partners (IBPs). However, the net loss decreased to $5,431,979 from $8,632,828 due to cost-cutting measures and a gain on settlement of derivative liabilities. Operating expenses slightly decreased to $8,144,437 from $8,418,761. The company reduced its stockholders' deficit to $2,778,765, driven by debt conversions and reclassification of derivative liabilities. Despite increasing revenues, Stemtech remains unprofitable and relies on debt and equity financing to meet its capital requirements. Future outlook includes expanding IBPs and exploring new revenue streams. Risk factors include substantial doubt about the company's ability to continue as a going concern due to recurring losses and significant working capital deficiency.