Revenue: Not disclosed for QQ2 2024 (no reported revenue in the quarter).
Profitability:
- EBITDA: -$1,260,459
- Operating income: -$1,328,604
- Net income: -$1,360,530
- Depreciation & amortization: $68,145
- Operating expenses: $1,328,604 (R&D $237,395; G&A $1,091,209)
- Net income margin not meaningful due to lack of revenue (negative due to high fixed costs in a development stage)
Cash flow and liquidity:
- Net cash provided by operating activities: -$2,537,798
- Free cash flow: -$2,575,035
- Cash at end of period: $158,239; cash at beginning: $113,796
- Depreciation, stock-based compensation, and working capital changes contributed to the burn (stock-based comp: $348,275; change in working capital: -$2,159,021)
Balance sheet and leverage:
- Total assets: $4,053,839; total liabilities: $6,316,061; total stockholders’ equity: -$2,262,222
- Total debt: $4,374,684; net debt: $4,216,445
- Current ratio: 0.361; cash ratio: 0.0321
- Debt ratio: 1.079; debt-to-equity ratio: -1.934 (negative equity driving leverage metrics)
- Book value per share and related equity-based multiples in negative territory (P/B, EV multiples highly negative)
Growth and efficiency indicators:
- Revenue growth: N/A (no reported revenue in QQ2 2024)
- Return metrics reflect a pre-revenue, platform-building phase with high R&D intensity and early-stage monetization risk.