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Damon Inc. (DMN-8.27%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing includes financial statements for the quarter, showing revenue of $49,523, with a gross profit of $28,191. The company reported a net income of $32,521,108 for the quarter.
Research and development expenses for the quarter were $997,333, while general and administrative expenses totaled $2,182,333. Sales and marketing expenses amounted to $178,379.
The company reported other non-operating income of $37,970,099, primarily due to changes in the fair value of financial liabilities.
Cash used in operating activities was $6,636,484 for the six months ended December 31, 2024. Cash provided by financing activities was $6,962,852, while cash provided by investing activities was $77,270.
As of December 31, 2024, Damon Inc. had cash of $788,561 and a working capital deficiency of approximately $10 million.
The filing also details various financing agreements, including a securities purchase agreement with Streeterville Capital, LLC, and notes issued in connection with the business combination.
Damon Inc. continues to focus on developing electric motorcycles and personal mobility products through its subsidiary Damon Motors Inc., and distributing scientific software products through its subsidiary Grafiti Limited.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Damon Inc. quarterly 10-Q report dated February 14, 2025. To report an error, please email earnings@qz.com.