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Agentix Corp (AGTX0.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing indicates that the company recorded no revenues for the three and six months ended September 30, 2024, consistent with the same periods in 2023.
Professional fees for the three months ended September 30, 2024 were $64,310, a decrease from $122,181 in the same period in 2023. For the six months ended September 30, 2024, professional fees were $141,310, compared to $237,307 in 2023.
Research and development expenses for the three months ended September 30, 2024 were $11,850, down from $58,366 in the same period in 2023. For the six months ended, these expenses were $67,351, compared to $216,548 in 2023.
General and administrative expenses for the three months ended September 30, 2024 were $16,850, a reduction from $172,608 in the same period in 2023. For the six months ended, these expenses were $35,654, compared to $300,435 in 2023.
The company reported a foreign exchange gain of $12,185 for the three months ended September 30, 2024, compared to a loss of $18,879 in the same period in 2023. For the six months ended, the gain was $20,408 compared to a loss of $22,222 in 2023.
Interest expense for the three months ended September 30, 2024 was $9,844, up from $5,309 in the same period in 2023. For the six months ended, interest expense was $17,479, compared to $10,389 in 2023.
The filing notes that the company did not receive any R&D credits for the six months ended September 30, 2024, whereas it received $198,371 in the same period in 2023.
As of September 30, 2024, Agentix Corp had an accumulated deficit and a net loss, with negative cash flows from operating activities. The company owes $2,968,568 to vendors and related parties.
The company states that it will need to raise additional funds to support its operations and that its cash position is not sufficient for daily operations. The company is exploring equity financing or debt financing options.
The filing indicates that there are no off-balance sheet arrangements and no material subsequent events, except for a $5,000 receipt from a note payable on October 8, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Agentix Corp quarterly 10-Q report dated November 18, 2024. To report an error, please email earnings@qz.com.