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Bowmo, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the period, indicating no revenue for the nine months ended September 30, 2024, compared to $66,476 in the same period the previous year.
Compensation expenses for the nine months ended September 30, 2024, were $375,000, down from $431,421 in the previous year, with the expenses consisting entirely of compensation paid and accrued to officers.
General and administrative expenses decreased to $93,143 for the nine months ended September 30, 2024, compared to $174,584 in the same period the previous year.
Professional fees for the nine months ended September 30, 2024, were $114,750, down from $166,884 in the previous year.
The company reported a net loss of $855,727 for the nine months ended September 30, 2024, compared to a net loss of $1,645,525 in the previous year.
Cash used in operating activities was $369,118 for the nine months ended September 30, 2024, compared to $134,957 in the same period the previous year.
Financing activities provided $368,155 of cash for the nine months ended September 30, 2024, compared to $28,278 used in the same period the previous year.
Bowmo has a working capital deficit of $4,706,935 and an accumulated deficit of $13,848,604 as of September 30, 2024.
The company acknowledges substantial doubt about its ability to continue as a going concern, citing the need for adequate funding to support operations.
The filing details the company's convertible notes and loans, with significant portions in default.
Bowmo continues to pursue strategies to raise necessary funds to finance its development and marketing efforts.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bowmo Inc. quarterly 10-Q report dated November 19, 2024. To report an error, please email earnings@qz.com.