Mon, Aug 19, 8:50 PM (148 days ago)
For the quarter ending June 30, 2024, Therapeutic Solutions International, Inc. reported a net loss of $390,046, a decrease from $562,400 in the same quarter of 2023, primarily due to reduced research and development expenses. Revenue declined from $26,308 to $20,005 year-over-year, contributing to a six-month revenue drop from $49,431 to $41,819. Cost of goods sold also decreased, reflecting lower sales activity. Total operating expenses for the quarter fell to $417,316 from $558,115, with significant reductions in consulting fees and general administrative costs. However, legal and professional fees rose sharply, indicating increased regulatory and compliance activities. The company’s cash position weakened, with cash and equivalents dropping to $8,318 from $27,823, and a working capital deficit of approximately $1.1 million. The company faces substantial doubt about its ability to continue as a going concern without additional financing or increased sales. Management remains focused on securing funding through equity offerings and collaborations, while exploring new product developments in immune modulation. The report highlights ongoing challenges, including the need for capital to sustain operations and the impact of market conditions on revenue generation.